Company No: 09531492 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	R H Davidge
	E A Taylor
	M H Davidge
	J A C Davidge

Secretary

E A Taylor

Registered office	Heath Common
	Storrington
	Sussex
	RH20 3AD
	United Kingdom

Company number

09531492 (England and Wales)

Accountant	Kreston Reeves LLP
	9 Donnington Park
	85 Birdham Road
	Chichester
	West Sussex
	PO20 7AJ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thakeham Concrete Products Limited for the financial year ended 30 September 2025 which comprise the Balance Sheet and the related notes 1 to 11 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Thakeham Concrete Products Limited, as a body, in accordance with the terms of our engagement letter dated 13 May 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Thakeham Concrete Products Limited and state those matters that we have agreed to state to the Board of Directors of Thakeham Concrete Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thakeham Concrete Products Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Thakeham Concrete Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thakeham Concrete Products Limited. You consider that Thakeham Concrete Products Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Thakeham Concrete Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

30 July 2026

	Note	2025		2024
		£		£
				Restated - note 3
Fixed assets
Investment property	5	3,500,000		3,392,960
Investments	6	14,773		14,773
		3,514,773		3,407,733
Current assets
Debtors	7	250,073		11,464
Cash at bank and in hand		29,927		31
		280,000		11,495
Creditors: amounts falling due within one year	8	( 81,875)		( 349,941)
Net current assets/(liabilities)		198,125		(338,446)
Total assets less current liabilities		3,712,898		3,069,287
Creditors: amounts falling due after more than one year	9	( 871,196)		( 232,523)
Provision for liabilities	10	( 699,245)		( 709,091)
Net assets		2,142,457		2,127,673
Capital and reserves
Called-up share capital	11	14,773		14,773
Revaluation reserve		2,127,274		2,127,274
Profit and loss account		410		( 14,374 )
Total shareholders' funds		2,142,457		2,127,673

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Thakeham Concrete Products Limited (registered number: 09531492) were approved and authorised for issue by the Board of Directors on 30 July 2026. They were signed on its behalf by:

R H Davidge Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Thakeham Concrete Products Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Heath Common, Storrington, Sussex, RH20 3AD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents 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, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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

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

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

Basic financial assets
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 when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial 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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

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

2.Transition to FRS102

The Company has adopted FRS 102 1A for the year ended 30 September 2025 and has restated the comparative year.

Reconciliation of equity

	Note	01.10.2023		30.09.2024
		£		£
Capital and reserves (as previously stated)		302		399
Revaluation gain on investment property		2,836,365		2,836,365
Deferred taxation on revaluation gain		(709,091)		(709,091)
Capital and reserves (as restated)		2,127,576		2,127,673

Notes to the reconciliations

(i)	Investment property revaluation
	On transition to FRS 102 Section 1A, the Company elected to use the fair value of its freehold property at 1 October 2023 as deemed cost in accordance with Section 35. The resulting increase in the carrying value of the property of £2,836,365 was recognised.
(ii)	Deferred taxation
	A deferred tax liability of £709,091 was recognised in respect of revaluation gain on investment property, reducing revaluation reserve by the same amount.
(iii)	Revaluation reserve
	The net effect of the above adjustments was an increase in revaluation reserve of £2,127,274 as at 1 October 2023.

3. Prior year adjustment

The Company has adopted FRS 102 1A for the year ended 30 September 2025 and has restated the comparative year amounts.

		As previously reported		Adjustment		As restated
Year ended 30 September 2024		£		£		£
Investment property		556,595		2,836,365		3,392,960
Deferred tax liability		0		709,091		709,091
Revaluation reserve		0		2,127,274		2,127,274

The Company transitioned from FRS 105 to FRS 102 Section 1A with effect from 1 October 2023. In accordance with Section 35 of FRS 102, an opening statement of financial position was prepared at that date. The Company elected to apply the exemption permitting fair value as deemed cost for its freehold property. Consequently, the property was revalued at the transition date and the resulting increase in value, together with the related deferred tax liability, was recognised through equity. Reconciliations of equity and profit from FRS 105 to FRS 102 are provided above and in note 2.

4. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

5. Investment property

	Investment property
	£
Valuation
As at 01 October 2024	3,392,960
Additions	107,040
As at 30 September 2025	3,500,000

Valuation

A full market valuation of investment property was completed by the directors as at the 30 September 2025. The valuation is provided on an open market for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	663,635		556,595

6. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 October 2024	14,773
At 30 September 2025	14,773
Carrying value at 30 September 2025	14,773
Carrying value at 30 September 2024	14,773

7. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	234,829		0
Other debtors	15,244		11,464
	250,073		11,464

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	0		65,225
Trade creditors	17,225		57,225
Amounts owed to Group undertakings	0		185,991
Other taxation and social security	8,650		0
Other creditors	56,000		41,500
	81,875		349,941

The bank loan is secured by a legal charge over the Company's investment property. The loan is repayable in accordance with the terms of the facility agreement.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

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

	2025		2024
	£		£
Bank loans (secured)	871,196		232,523

The bank loan is secured by a legal charge over the Company's investment property. The loan is repayable in accordance with the terms of the facility agreement.

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 709,091)		0
Credited to the Profit and Loss Account	9,846		0
FRS 102 1a transition	0		( 709,091)
At the end of financial year	( 699,245)		( 709,091)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Revaluation of investment property	( 709,091)		( 709,091)
Tax losses carry forward	9,846		0
	( 699,245)		( 709,091)

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,269 A Ordinary shares £1 shares of £ 1.00 each	2,269		2,269
8,638 B Ordinary shares £1 shares of £ 1.00 each	8,638		8,638
3,066 C Ordinary shares £1 shares of £ 1.00 each	3,066		3,066
800 D Ordinary shares £1 shares of £ 1.00 each	800		800
	14,773		14,773