D Brown (Building Contractors) Limited Company accounts

COMPANY REGISTRATION NUMBER: 01712405

D Brown (Building Contractors) Limited

Financial Statements

For the year ended

30 November 2025

D Brown (Building Contractors) Limited

Financial Statements

Year ended 30 November 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the member	6

Statement of comprehensive income	11

Statement of financial position	12

Statement of changes in equity	14

Notes to the financial statements	15

D Brown (Building Contractors) Limited

Officers and Professional Advisers

The board of directors	M Jones
	R Spenceley
	N Rayner
	A Mayer

Registered office	Seas End Road
	Moulton Loosegate
	Spalding
	Lincs
	PE12 6JX

Auditor	Streets Audit LLP
	Chartered Accountants & statutory auditor
	Enterprise House
	38 Tyndall Court
	Commerce Road
	Lynch Wood
	Peterborough
	Cambridgeshire
	PE2 6LR

Bankers	Royal Bank of Scotland
	14/15 Hereward Cross
	Peterborough
	Cambridgeshire
	PE1 1TB

	Barclays Bank PLC - Canary Wharf
	1 Churchill Place
	Canary Wharf
	London
	E14 5HP

D Brown (Building Contractors) Limited

Strategic Report

Year ended 30 November 2025

We aim to present a balanced and comprehensive review of the development and performance of the company during the period and its position at the year end. Our review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties we face. The company's core operations are that of residential property development under contract or speculative sale. The company extended the year end to 30 November 2024 in the prior year therefore these results in the prior year cover a 18 month period. Operation Performance and Key Performance Indicators The directors consider the key performance indicators (KPI's) of the company to be turnover, gross margin and net profit. The company reported turnover in the period of £24.3m (2024 - £35.1m for the 18 month period) and an improved gross margin of 9.2% (2024 - 8.9%) resulting in a profit before tax of £107k (2024 - profit of £179k for the 18 month period). The directors are pleased with the company performance. Principal Risks and Uncertainties The company's principal financial instruments comprise cash, bank borrowings and various items, such as trade debtors and trade creditors, which arise directly from its operations. The main purpose of these financial instruments is to provide finance for the group's operations. The existence of these financial instruments exposes the group to a number of financial risks. The main risks arising from the group's financial risks are credit risk, liquidity risk and interest rate risk. The directors review and agree policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years. Credit risk The company seeks to manage its credit risk by dealing with established customers or otherwise checking the credit-worthiness of new customers, establishing clear contractual relationships with those customers and by identifying and addressing any credit issues arising in a timely manner. Liquidity risk The company seeks to manage liquidity risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility is achieved by overdraft facilities. The main functional currency of the business is Sterling and the group does not have material exposure to foreign-denominated currency. Interest rate risk The company's exposure to market risk for the changes in interest rates relates primarily to its bank borrowings. The company seeks to manage this risk by keeping bank borrowings to a minimum. Health & safety risk The company is exposed to health & safety risk owing to the nature of the business and sector it operates in. The company seeks to manage this risk through internal expertise and external consultants where deemed necessary. Outlook The company continues to seek to grow across all core operations. The directors will continue to react to market conditions and other external economic conditions whilst managing the risks noted above. The UK economy and construction sector continues to be challenging however the directors believe they are well placed to deal with this and are managing cashflows closely to trade through this period.

This report was approved by the board of directors on 15 July 2026 and signed on behalf of the board by:

A Mayer

Director

Registered office:

Seas End Road

Moulton Loosegate

Spalding

Lincs

PE12 6JX

D Brown (Building Contractors) Limited

Directors' Report

Year ended 30 November 2025

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

Directors

The directors who served the company during the year were as follows:

M Jones
A Mayer
R Spenceley	(Appointed 11 November 2025)
N Rayner	(Appointed 11 November 2025)
D Wild	(Resigned 11 November 2025)

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Disclosure of information in the strategic report

The company has chosen to set out in the strategic report information about the results for the year, principal risks and uncertainties and the future developments of the company.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' 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 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 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 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 15 July 2026 and signed on behalf of the board by:

A Mayer

Director

Registered office:

Seas End Road

Moulton Loosegate

Spalding

Lincs

PE12 6JX

D Brown (Building Contractors) Limited

Independent Auditor's Report to the Member of D Brown (Building Contractors) Limited

Year ended 30 November 2025

Opinion

We have audited the financial statements of D Brown (Building Contractors) Limited (the 'company') for the year ended 30 November 2025 which comprise the statement of comprehensive income, statement of financial position, 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 FRS 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 30 November 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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.

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 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.

Responsibilities of directors

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.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 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 of the company and sector in which it operates; - 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, employment, environmental and health and safety legislation; - 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; and - 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 3 were indicative of potential bias; and - 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; and - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's member, 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 member 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 member as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Day

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered Accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

29 July 2026

D Brown (Building Contractors) Limited

Statement of Comprehensive Income

Year ended 30 November 2025

			Period from
		Year to	1 Jun 23 to
		30 Nov 25	30 Nov 24
Note		£	£
Turnover	4	24,316,080	35,071,429

Cost of sales	22,090,805	31,927,096
	-------------	-------------
Gross profit	2,225,275	3,144,333

Administrative expenses		2,115,928	2,811,949
Other operating income	5	66,427	77,926
Restructuring costs		32,313	140,832
		------------	------------
Operating profit	6	143,461	269,478

Interest payable and similar expenses	11	36,446	90,037
		------------	------------
Profit before taxation		107,015	179,441

Tax on profit	12	46,597	97,921
		---------	---------
Profit for the financial year		60,418	81,520
		---------	---------

Revaluation of tangible assets	135,259	–
	---------	--------
Total comprehensive income for the year	195,677	81,520
	---------	--------

All the activities of the company are from continuing operations.

D Brown (Building Contractors) Limited

Statement of Financial Position

30 November 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	14		1,347,418	1,247,532

Current assets

Stock and work in progress	15	1,665,719	1,592,073
Debtors	16	5,296,832	5,129,775
Cash at bank and in hand		328	155,157
		------------	------------
		6,962,879	6,877,005

Creditors: amounts falling due within one year	17	5,839,188		5,747,041
		------------		------------
Net current assets			1,123,691	1,129,964
			------------	------------
Total assets less current liabilities			2,471,109	2,377,496

Creditors: amounts falling due after more than one year	18		601,316	693,331

Provisions

Taxation including deferred tax	20	174,091	181,508
		------------	------------
Net assets		1,695,702	1,502,657
		------------	------------

D Brown (Building Contractors) Limited

Statement of Financial Position (continued)

30 November 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	23	500,000	500,000
Revaluation reserve	24	325,198	189,939
Capital redemption reserve	24	6,840	6,840
Profit and loss account	24	863,664	805,878
		------------	------------
Shareholder funds		1,695,702	1,502,657
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 15 July 2026 , and are signed on behalf of the board by:

A Mayer

Director

Company registration number: 01712405

D Brown (Building Contractors) Limited

Statement of Changes in Equity

Year ended 30 November 2025

			Called up share capital	Revaluation reserve	Capital redemption reserve	Profit and loss account	Total
Note			£	£	£	£	£
At 1 June 2023			760	189,939	6,840	826,989	1,024,528

Profit for the year						81,520	81,520
			----	---------	-------	---------	------------
Total comprehensive income for the year			–	–	–	81,520	81,520

Issue of shares			499,240	–	–	–	499,240
Dividends paid and payable		13	–	–	–	( 102,631)	( 102,631)
			---------	---------	-------	---------	------------
Total investments by and distributions to owners			499,240	–	–	( 102,631)	396,609

At 30 November 2024			500,000	189,939	6,840	805,878	1,502,657

Profit for the year						60,418	60,418
Other comprehensive income for the year:
	Revaluation of tangible assets	14	–	135,259	–	–	135,259
			---------	---------	-------	---------	------------
Total comprehensive income for the year			–	135,259	–	60,418	195,677

Dividends paid and payable		13	–	–	–	( 2,632)	( 2,632)
			----	----	----	-------	-------
Total investments by and distributions to owners			–	–	–	( 2,632)	( 2,632)

			---------	---------	-------	---------	------------
At 30 November 2025			500,000	325,198	6,840	863,664	1,695,702
			---------	---------	-------	---------	------------

D Brown (Building Contractors) Limited

Notes to the Financial Statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Seas End Road, Moulton Loosegate, Spalding, Lincs, PE12 6JX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

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

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Loosegate Holdings Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The significant judgements (apart from those involving estimations) are those that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statement are as follows:- 1) Recognition of turnover on on-going contracts at the year end Turnover is recognised when the outcome of a transaction involving the rendering of services can be reliably estimated. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. 2) Work in progress The value of work in progress is calculated from valuations and stage of completion reports. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:- 1) Depreciation charge The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. 2) Revaluation of assets Any tangible assets carried at revalued amounts are recorded at the fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent impairment losses. 3) Retentions Retentions are held in respect of contracted works by sub contractors and payments are made when contracts have satisfactorily been completed and no further liabilities arise.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Exceptional items

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in the profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant & Machinery	-	15% straight line
Fixtures & Fittings	-	15% straight line
Motor Vehicles	-	17% reducing balance
Equipment	-	33% straight line

Stock and work in progress

Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Sale of goods	24,316,080	35,071,429
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Rental income	21,028	29,208
Other operating income	45,399	48,718
	--------	--------
	66,427	77,926
	--------	--------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Depreciation of tangible assets	140,472	217,859
Gains on disposal of tangible assets	( 7,977)	( 46,046)
	---------	---------

7. Auditor's remuneration

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Fees payable for the audit of the financial statements	16,500	17,500
	--------	--------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	45	52
Management staff	3	3
	----	----
	48	55
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Wages and salaries	2,203,271	3,572,137
Social security costs	273,406	399,471
Other pension costs	45,370	74,716
	------------	------------
	2,522,047	4,046,324
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Remuneration	290,056	579,723
Company contributions to defined contribution pension plans	2,599	5,782
	---------	---------
	292,655	585,505
	---------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	3	4
	----	----

Remuneration of the highest paid director in respect of qualifying services:

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Aggregate remuneration	125,000	210,000
	---------	---------

10. Restructuring costs

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Restructuring costs	32,313	140,832
	--------	---------

During the period the company completed a restructure and incurred non-recurring costs.

11. Interest payable and similar expenses

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Interest on banks loans and overdrafts	36,446	79,688
Interest on obligations under finance leases and hire purchase contracts	–	10,349
	--------	--------
	36,446	90,037
	--------	--------

12. Tax on profit

Major components of tax expense

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£

Current tax:

UK current tax expense	54,014	84,600
Adjustments in respect of prior periods	–	18,411
	--------	---------
Total current tax	54,014	103,011
	--------	---------

Deferred tax:

Origination and reversal of timing differences	( 7,417)	( 5,090)
	--------	--------
Tax on profit	46,597	97,921
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

		Period from
	Year to	1 Jun 23 to
	30 Nov 25	30 Nov 24
	£	£
Profit on ordinary activities before taxation	107,015	179,441
	---------	---------
Profit on ordinary activities by rate of tax	26,754	68,565
Effect of expenses not deductible for tax purposes	9,614	12,500
Effect of capital allowances and depreciation	10,229	16,856
	---------	---------
Tax on profit	46,597	97,921
	---------	---------

13. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	2,632	102,631
	-------	---------

14. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 Dec 2024	725,000	143,772	37,540	983,444	88,264	1,978,020
Additions	39,741	10,233	5,888	61,551	12,188	129,601
Disposals	–	–	–	( 45,458)	–	( 45,458)
Revaluations	135,259	–	–	–	–	135,259
	---------	---------	--------	---------	---------	------------
At 30 Nov 2025	900,000	154,005	43,428	999,537	100,452	2,197,422
	---------	---------	--------	---------	---------	------------
Depreciation
At 1 Dec 2024	14,583	112,299	31,639	488,305	83,662	730,488
Charge for the year	–	12,640	3,122	118,095	6,615	140,472
Disposals	–	–	–	( 20,956)	–	( 20,956)
	---------	---------	--------	---------	---------	------------
At 30 Nov 2025	14,583	124,939	34,761	585,444	90,277	850,004
	---------	---------	--------	---------	---------	------------
Carrying amount
At 30 Nov 2025	885,417	29,066	8,667	414,093	10,175	1,347,418
	---------	---------	--------	---------	---------	------------
At 30 Nov 2024	710,417	31,473	5,901	495,139	4,602	1,247,532
	---------	---------	--------	---------	---------	------------

Tangible assets held at valuation

The Land and buildings were revalued by an independent valuer, Harwoods, Chartered Surveyors and Estate Agents, on an open market value for existing use basis on 30 July 2025 to £900,000. The Directors consider this to be the fair value of the property at the statement of financial position date. Land has been valued at £200,000 (2024 £200,000) and is not depreciated.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 30 November 2025
Aggregate cost	381,424
Aggregate depreciation	(107,582)
	---------
Carrying value	273,842
	---------

At 30 November 2024
Aggregate cost	341,683
Aggregate depreciation	(101,175)
	---------
Carrying value	240,508
	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 30 November 2025	358,341
	---------
At 30 November 2024	510,827
	---------

15. Stock and work in progress

	2025	2024
	£	£
Raw materials and consumables	46,803	147,420
Work in progress	1,618,916	1,444,653
	------------	------------
	1,665,719	1,592,073
	------------	------------

16. Debtors

	2025	2024
	£	£
Trade debtors	3,555,232	3,285,641
Amounts owed by group undertakings	275,196	397,956
Prepayments and accrued income	27,956	270,508
Other debtors	1,438,448	1,175,670
	------------	------------
	5,296,832	5,129,775
	------------	------------

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	207,284	182,215
Trade creditors	3,344,371	3,655,223
Amounts owed to group undertakings	49,769	61,839
Accruals and deferred income	1,192,135	1,501,016
Corporation tax	138,614	114,600
Social security and other taxes	45,794	39,439
Obligations under finance leases and hire purchase contracts	123,451	151,039
Other creditors	737,770	41,670
	------------	------------
	5,839,188	5,747,041
	------------	------------

Barclays Bank plc holds security over land and buildings owned by the company dated 20 October 2025. The bank also holds a fixed and floating charge over all assets of the company dated 2 October 2025.

Hire purchase agreements are secured against assets to which they relate.

18. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	160,844	176,982
Obligations under finance leases and hire purchase contracts	140,472	216,349
Other creditors	300,000	300,000
	---------	---------
	601,316	693,331
	---------	---------

Barclays Bank plc holds security over land and buildings owned by the company dated 20 October 2025. The bank also holds a fixed and floating charge over all assets of the company dated 2 October 2025.

Hire purchase agreements are secured against assets to which they relate.

Included within creditors: amounts falling due after more than one year is an amount of £Nil (2024: £20,379) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

19. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	123,451	151,039
Later than 1 year and not later than 5 years	140,472	216,349
	---------	---------
	263,923	367,388
	---------	---------

The hire purchase agreements are secured on the assets they relate to.

20. Provisions

	Deferred tax (note 21)
	£
At 1 December 2024	181,508
Charge against provision	( 7,417)
	---------
At 30 November 2025	174,091
	---------

21. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 20)	174,091	181,508
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	92,791	134,023
Revaluation of tangible assets	81,300	47,485
	---------	---------
	174,091	181,508
	---------	---------

Deferred tax has been provided for at 25% being the rate of tax which the liabilities are expected to be realised at.

22. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 45,370 (2024: £ 74,716 ).

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares shares of £ 1 each	500,000	500,000	500,000	500,000
	---------	---------	---------	---------

24. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

25. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	9,044	21,531
Later than 1 year and not later than 5 years	–	9,044
	-------	--------
	9,044	30,575
	-------	--------

26. Directors' advances, credits and guarantees

The company operated a loan account with the a Director. The balance brought forward was £19,000 owed to the company and the balance in the year has now reduced to £2,000 which is s outstanding at the year end. No interest was charged. This balance sits within other debtors in the financial statements.

27. Related party transactions

Loosegate Developments Limited is a company with common directors and shareholders. During the year the group made sales of £nil (2024 - £1,153,264) and the balance outstanding at the year end was £nil (2024 - £67,362). Loosegate Developments (Long Sutton) Limited is a company with common directors and shareholders. During the year the group made sales of £4,380,216 (2024 - £6,737,563). The balance outstanding at the year end was £1,782,736 (2024 - £1,632,342). During the year the company advanced a loan of £532,925(2024 - £568,291) to Loosegate Developments (Long Sutton) Limited, a company with common directors and shareholders and this balance was outstanding at year end. The balance is included in other debtors and is repayable on demand. Keston Fields Limited is a company which the company and directors have an interest in. During the year the group made sales of £1,046,520 (2024 - £7,322,390) and the balance outstanding at the year end was £21,492 (2024 - £nil). Waites Farm Holdings Limited is a company with common directors and shareholders. During the year the group made sales of £53,196 (2024 - £118,005). The balance outstanding at the year end was £23,164 (2024 - £41,124). During the year the group made purchases of £2,981 (2024 - £5,400). The balance outstanding at the year end was £8,381 (2024 - £5,400). The company has taken advantage of the exemption available under FRS 102 from disclosing transactions with group companies.

28. Controlling party

The immediate and ultimate controlling party is Loosegate Holdings Limited, company registration number 11317173, a company registered in England and Wales. The financial statements of Loosegate Holdings Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ. There is no ultimate controlling party.