REGISTERED NUMBER: 04880583 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31st December 2025

for

Parkside Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

7

Report of the Independent Auditors

9

Consolidated Income Statement

13

Consolidated Other Comprehensive Income

14

Consolidated Statement of Financial Position

15

Company Statement of Financial Position

16

Consolidated Statement of Changes in Equity

17

Company Statement of Changes in Equity

18

Consolidated Statement of Cash Flows

19

Notes to the Consolidated Statement of Cash Flows

20

Notes to the Consolidated Financial Statements

21

DIRECTORS:

M Browne

A Dowden

C P Dowden

REGISTERED OFFICE:

Park House

Church Lane

St George

Bristol

BS5 7AG

REGISTERED NUMBER:

04880583 (England and Wales)

AUDITORS:

Dunkley's,

Statutory Auditor

Chartered Certified Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

The directors present their strategic report of the company and the group for the year ended 31st December 2025.

The Group operates within the construction industry which comprises contracting and civil engineering, particularly the construction of roads, mains drainage, house foundations and external groundworks all mainly associated with the new housing market. The majority of the work is provided to blue chip house builders within the South West of England and Wales.

REVIEW OF BUSINESS

The turnover is up by 7.0% this year, this reflecting decisions by the board of directors to increase its turnover capability in line with our strong management teams. This follows decisions in recent years to rein in turnover in order to deliver quality work on programme, the effect of this decision was to ensure that we continue to operate at a sustainable level. Adverse weather towards the end of the year also had a negative impact.

The Group continues to enjoy good relationships with its customers and has been successful in winning numerous new tenders, whilst maintaining a strong order book.

Given the continuing struggle of homebuilders to obtain planning permission and because of their holding back of land sites resulting in housing demand outstripping supply, high level of demand for the Group's services is likely to continue for the next few years.

The continued availability of mortgages and the Government's intent to significantly up the number of new homes being built each year should ensure that there is no shortage of work, the only problem is the lack of resources to satisfy the Government's ambitious new policy.

The gross profit margin has risen to 11% in the current year from 9% last year. The Group has considered it has traded successfully throughout the year ending 31 December 2025.

The directors are satisfied to report an increased net profit of just over £1.047M before tax this year. The Group will continue to monitor its overheads and margins to achieve and maintain its profitability in the future, with particular emphasis on the more difficult winter months, November through February.

The Group invested over £1m in new plant and equipment during the year.

Management consider turnover and profit after tax to be the key financial performance indicators (KPI).

KPI

2025

2024

Movement

Turnover (£m)

55.1

51.3

+7%

Gross profit margin

10.7%

9.1%

+1.6%

Profit after tax (£m)

0.8

0.4

+100%

Average number of staff

286

281

+1.7%

With regards to non-financial KPls the Group has maintained its customer base and has maintained the number of employees and made use of subcontractors to be more flexible for periods of trade. The Group is well placed for continued growth in the future.

PRINCIPAL RISKS AND UNCERTAINTIES

Trading conditions have continued to gradually improve following uncertain times imposed by global political landscape swings in recent years. There has been steady growth and demand in the housing market that remains reasonably strong, although affordability remains an issue. The Government's drive for a significant increase in the number of new homes built every year will present the industry with a major challenge, given the lack of resources.

Although there are encouraging signs in base rent lending reducing, there are still some financial concerns about the base lending rate and what effect it would have on the mortgages and housing market following increases there is also uncertainty regarding the medium term impact on the economy and job market.

During the year there have been impacts on the supply chain which have resulted in increases in costs of labour, materials and consumables. Where possible the Group has sought and achieved increases in contract sums to mitigate this in line with the terms of the contracts.

With these risks and uncertainties, we are constantly aware of the need to review our future development plans of the business and these can be subject to unforeseen future events outside of our control.

However, the directors are confident of maintaining the gross profit margins and optimistic about the long term future of the Group due to the following: -

1) Lifetime ISA as an incentivised scheme for house purchasing.

2) Continued property buyers' confidence levels and increasing availability of low interest rate mortgage financing continues to support strong demand on property.

3) Continual ongoing review of the Group business strategy regularly to suit the rapid changing market conditions and to continue in reaping of benefits from the implemented cost control strategy in prior years.

4) Strong and long established relationships with major house builders.

SECTION 172(1) STATEMENT

The Directors believe that they have effectively implemented their duties under section 172 of the Companies Act 2006. The Group has considered the long-term strategy of the business below and consider that this strategy will continue to deliver long term success to the business and its stakeholders.

We have secured new work with inflationary compensation. We have also invested heavily to ensure we have the newest and most fuel efficient fleet of machinery and vehicles possible.

The Group is committed to maintaining an excellent reputation and strives to achieve high standards. We are highly selective about which co-contractors are used to deliver best value while maintaining an awareness of the environmental impact of the work that they do and strive to reduce their carbon footprint.

The Directors recognise the importance of wider stakeholders in delivering their strategy and achieving sustainability within the business. The main stakeholders in the Group are considered to be the employees, suppliers and customers. Their importance to the business is considered below.

In ensuring that all our stakeholders are considered as part of every decision process we believe we act fairly between all members of the Group.

Our highest key objective remains the preservation of our workforce both site and office based. The Health Safety and Wellbeing of our workforce is paramount.

Our supply chain remains robust and we continue to nurture and maintain strong relations. We are even more focused on material management and look to rationalise the use of materials as much as possible. Material shortages are becoming less of a problem but we remain focused on planning ahead to alleviate any impact extended lead times may present us.

We continue to focus on our impact to the environment and this is even more pertinent with the increase in cost for energy supply across all groups. All vehicles and vans have been updated and we have introduced more fully electric and hybrid vehicles into the fleet during the year.

Our business has a strong reputation in the market and we will look to protect this and build on this in tandem with our workforce who are key in achieving this objective.

Acting in a fair and reasonable way is also key when we need to protect our workforce and act fairly between all members of the Group. We must aspire to be the preferred groundwork business in the South West and our staff are key to us achieving and maintaining this.

AVAILABILITY OF RESOURCES

The industry is still suffering from a shortage of skilled labour. To address this we have an extensive training program to ensure all our staff are fully trained on the work they perform. We also have a number of apprentices each year which will help address matters in the longer term. There has also been some supply chain issues which the has group mitigated through its good relationships and a proactive approach to procurement.

COMPETITION

Competition has been reasonably unchanged but always remains a threat to winning new work. The Group manages these risks by maintaining and developing very good working relationship with its clients and continuing to produce work in a timely manner and to a high standard at a competitive price.

ENVIRONMENTAL MATTERS

Medium sized companies are mandated to disclose energy and carbon information. The information included is disclosed as set out under the Streamlined Energy and Carbon Reporting Framework, detailed within the 2018 Regulation amendments of the Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008.

Units

Financial reporting year (1 January 2025 - 31 December 2025)

Financial reporting year (1 January 2024 - 31 December 2024)

Emission from combustion of gas(Scope 1)

tCO2e

3.6

4.3

Emissions from combustion of fuel for transport purposes(Scope 2)

tCO2e

3,974.96

3,911.25

Emissions from purchased electricity(Scope 2)

tCO2e

11.78

11.30

Total Gross Emissions

tCO2e

3,986.74

3,922.50

Energy consumption used to calculate above emissions

KWh

15,809,847

15,682,054

Intensity Measurement

£ Annual turnover

Intensity Ratio

tCO2e/£100,000 Annual Turnover

0.072

0.076

Energy Efficiency commentary

The Group is aware that construction activities can have a seriously detrimental effect on the environment and has put in place a management system to minimise such effects.

The Group's systems are compliant. The Group has also introduced a number of initiatives to minimise building material, energy and office waste, including:

1) Car allowance policy which encourages staff to drive vehicles with lower CO2 emissions

2) The Group has purchased a number of electric and hybrid vehicles during the year

3) Measures to minimise site waste, such as ensuring suitable storage space and facilities are available, rubbish is compacted in the skips, waste materials are recycled, and agreeing reduced material packaging with suppliers

4) Training of all site managers, project managers and selected staff on environmental awareness.

FINANCIAL RISK MANAGEMENT

Exposure to credit and liquidity risks arise in the normal course of the Group's business. The Group does not have any derivative financial instruments.

The Group's credit risk is attributable to its trade receivables and amounts receivables on contracts. The amounts presented in the statement of financial position are net of any allowances for doubtful debtors, based upon prior experience and assessment of specific circumstances by the Directors. The Group does not have any significant concentration of credit risk, with exposure spread over a number of customers.

The Group seeks to manage risk to ensure that sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility is achieved by the use of fixed and variable deposit accounts. The Directors prepare rolling cash flow forecasts to plan for future surpluses and expenditure.

ON BEHALF OF THE BOARD:

C P Dowden - Director

27th July 2026

The directors present their report with the financial statements of the company and the group for the year ended 31st December 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2025 will be £236,228 (2024 - £118,477).

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2025 to the date of this report.

M Browne

A Dowden

C P Dowden

Other changes in directors holding office are as follows:

J M Stafford - resigned 1st October 2025

GOING CONCERN

As at the current time the Group remains in a strong financial position, with a strong cash balance and improving trading reserves.

The directors continue to monitor the increasing inflationary cost pressure currently being experienced in the UK.

The business continues to have access to its pre-existing bank facilities and the directors take further comfort from their long standing relationships with key customers and the underlying strength and robustness of the business that has weathered other financial downturns and competitive pressures before.

Due to the business' strong net asset position it retains the flexibility to obtain additional financing from multiple sources or further delay repayment of certain liabilities in the event that the impact of the coronavirus or any other economic factors is more prolonged or the financial impact more severe than originally forecast.

In the medium term the directors believe that the demand for the groundworking services the business provides will remain strong due to the continued housing developments in the south west.

On the basis of the forecasts completed and analysis, the directors remain confident that the Group will continue to be a going concern for a period of at least 12 months from the date of approving these financial statements. The accounts have accordingly been prepared on a going concern basis.

DONATIONS

The amount of charitable donations made during the year amounted to £42,094 (2024 - £39,580) The Group made no political donations in the current or preceding year.

DIVERSITY, INCLUSION & WELLBEING

Through the application of the Group’s Diversity and Inclusion Policy, the group aims to ensure everyone is treated fairly and equitably.

The Group uses regular communication and education to continuously build an inclusive culture amongst its workforce, minimising discrimination and promoting diversity including disability.

Applications for employment by disabled persons are considered fully, bearing in mind the aptitudes of the applicant concerned. In the event an employee becomes disabled, every effort is made to ensure that their employment with the group continues and that appropriate adjustments are made.

It is the policy of the Group that the training, career development and opportunity of disabled persons should, as far as possible, be identical with that of other employees.

ENGAGEMENT WITH EMPLOYEES

The Group strives to create a working environment where people enjoy working, give their best and deliver successful outcomes.

The development of our employees is central to the group's long term success.

The Board of Directors regards employee engagement as a matter of great importance with many initiatives taking place during the year aimed at improving the Board’s understanding of the employees’ views and interests as well as improving the employees’ understanding of the Group’s performance.

We invest in training, coaching and skills acquisition to ensure the required knowledge and behaviours are aligned with the Group’s strategy and values as it is important for our employees to feel connected to the Group’s purpose.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Dunkley's, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C P Dowden - Director

27th July 2026

Opinion

We have audited the financial statements of Parkside Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

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

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page eight, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, bonus levels and performance targets;

- any matters we identified, having obtained and reviewed the company's documentation of their policies and procedures relating to:

o identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

o detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

o the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas of management override of controls, and revenue recognition.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- enquiring of management, concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

Mr Matthew S Dobbins FCA (Senior Statutory Auditor)

for and on behalf of Dunkley's,

Statutory Auditor

Chartered Certified Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

27th July 2026

REVENUE

55,128,097

51,326,489

Cost of sales

(49,243,813

)

(46,639,821

)

GROSS PROFIT

5,884,284

4,686,668

Administrative expenses

(4,792,120

)

(4,082,611

)

1,092,164

604,057

Other operating income

43,000

48,000

OPERATING PROFIT

4

1,135,164

652,057

Interest receivable and similar income

45,128

24,299

1,180,292

676,356

Interest payable and similar expenses

5

(134,449

)

(118,741

)

PROFIT BEFORE TAXATION

1,045,843

557,615

Tax on profit

6

(202,778

)

(129,188

)

PROFIT FOR THE FINANCIAL YEAR

843,065

428,427

Profit attributable to:

Owners of the parent

843,065

428,427

PROFIT FOR THE YEAR

843,065

428,427

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

843,065

428,427

Total comprehensive income attributable to:

Owners of the parent

843,065

428,427

FIXED ASSETS

Property, plant and equipment

9

4,876,584

5,131,533

Investments

10

10,581

10,581

4,887,165

5,142,114

CURRENT ASSETS

Debtors

11

7,707,437

7,951,155

Cash at bank

2,984,046

2,737,941

10,691,483

10,689,096

CREDITORS

Amounts falling due within one year

12

7,827,808

8,386,881

NET CURRENT ASSETS

2,863,675

2,302,215

TOTAL ASSETS LESS CURRENT LIABILITIES

7,750,840

7,444,329

CREDITORS

Amounts falling due after more than one year

13

(718,602

)

(735,913

)

PROVISIONS FOR LIABILITIES

16

(1,757,663

)

(1,733,246

)

NET ASSETS

5,274,575

4,975,170

CAPITAL AND RESERVES

Called up share capital

17

185,058

202,147

Share premium

18

-

187,590

Capital redemption reserve

18

94,234

77,145

Retained earnings

18

4,995,283

4,508,288

SHAREHOLDERS' FUNDS

5,274,575

4,975,170

The financial statements were approved by the Board of Directors and authorised for issue on 27th July 2026 and were signed on its behalf by:

C P Dowden - Director

FIXED ASSETS

Property, plant and equipment

9

-

-

Investments

10

1,457,480

1,457,480

1,457,480

1,457,480

CURRENT ASSETS

Debtors

11

22,432

20,891

Cash at bank

5,495

7,037

27,927

27,928

CREDITORS

Amounts falling due within one year

12

5,566

35,566

NET CURRENT ASSETS/(LIABILITIES)

22,361

(7,638

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,479,841

1,449,842

CAPITAL AND RESERVES

Called up share capital

17

185,058

202,147

Share premium

18

-

187,590

Capital redemption reserve

18

94,234

77,145

Retained earnings

18

1,200,549

982,960

SHAREHOLDERS' FUNDS

1,479,841

1,449,842

Company's profit for the financial year

573,659

116,378

The financial statements were approved by the Board of Directors and authorised for issue on 27th July 2026 and were signed on its behalf by:

C P Dowden - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1st January 2024

210,936

4,205,028

191,651

68,356

4,675,971

Changes in equity

Issue of share capital

(8,789

)

-

(4,061

)

-

(12,850

)

Dividends

-

(116,378

)

-

-

(116,378

)

Total comprehensive income

-

419,638

-

8,789

428,427

Balance at 31st December 2024

202,147

4,508,288

187,590

77,145

4,975,170

Changes in equity

Issue of share capital

(17,089

)

-

(187,590

)

-

(204,679

)

Dividends

-

(236,228

)

-

-

(236,228

)

Total comprehensive income

-

723,223

-

17,089

740,312

Balance at 31st December 2025

185,058

4,995,283

-

94,234

5,274,575

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1st January 2024

210,936

991,749

191,651

68,356

1,462,692

Changes in equity

Issue of share capital

(8,789

)

-

(4,061

)

-

(12,850

)

Dividends

-

(116,378

)

-

-

(116,378

)

Total comprehensive income

-

107,589

-

8,789

116,378

Balance at 31st December 2024

202,147

982,960

187,590

77,145

1,449,842

Changes in equity

Issue of share capital

(17,089

)

-

(187,590

)

-

(204,679

)

Dividends

-

(236,228

)

-

-

(236,228

)

Total comprehensive income

-

453,817

-

17,089

470,906

Balance at 31st December 2025

185,058

1,200,549

-

94,234

1,479,841

Cash flows from operating activities

Cash generated from operations

1

1,878,210

1,993,584

Interest element of hire purchase payments paid

(132,349

)

(116,641

)

Finance costs paid

(2,100

)

(2,100

)

Tax paid

(86,691

)

150,088

Net cash from operating activities

1,657,070

2,024,931

Cash flows from investing activities

Purchase of tangible fixed assets

(1,344,748

)

(1,374,242

)

Sale of tangible fixed assets

533,045

256,773

Interest received

45,128

24,298

Dividends received

-

1

Net cash from investing activities

(766,575

)

(1,093,170

)

Cash flows from financing activities

Loan repayments in year

222,562

-

Amounts owed to associate

-

(1,003

)

Hire purchase movements

(201,428

)

(418,862

)

Amount withdrawn by directors

(91,865

)

(91,946

)

Purchase of own shares

(119,841

)

(8,789

)

Share premium

(187,590

)

(4,061

)

Preference shares redeemed

(30,000

)

-

Equity dividends paid

(236,228

)

(116,378

)

Net cash from financing activities

(644,390

)

(641,039

)

Increase in cash and cash equivalents

246,105

290,722

Cash and cash equivalents at beginning of year

2

2,737,941

2,447,219

Cash and cash equivalents at end of year

2

2,984,046

2,737,941

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

31.12.25

31.12.24

£

£

Profit before taxation

1,045,843

557,615

Depreciation charges

976,849

925,768

Loss on disposal of fixed assets

89,805

6,311

Increase in provision for remedial work

70,000

(55,000

)

Finance costs

134,449

118,741

Finance income

(45,128

)

(24,299

)

2,271,818

1,529,136

Decrease in inventories

283,955

202,313

Increase in trade and other debtors

(45,859

)

(1,079,461

)

(Decrease)/increase in trade and other creditors

(631,704

)

1,341,596

Cash generated from operations

1,878,210

1,993,584

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

2,984,046

2,737,941

Year ended 31st December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

2,737,941

2,447,219

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

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank

2,737,941

246,105

2,984,046

2,737,941

246,105

2,984,046

Debt

Finance leases

(1,842,408

)

201,428

(1,640,980

)

(1,842,408

)

201,428

(1,640,980

)

Total

895,533

447,533

1,343,066