The directors present the strategic report for the year ended 28 February 2026.

Wilten Construction Ltd (the “Company”) is a multi-award winning (National Building Awards Main Contractor of the Year 2024 Large Contractor and SME News Business Elite Awards 2025 Most Trusted Main Contractor in the Commercial & Industrial Sector) dynamic Main Contractor, delivering big project experience with personal appeal, specialising in the design and build of high quality turnkey facilities within the industrial, logistics, retail and commercial sectors, in partnership with some of the UK's leading developers, occupiers, retailers and logistics businesses. Together with our supply chain partners, we are well equipped to deliver all new build projects, extensions, fit outs and refurbishments with contract values ranging from £1,000,000 to £25,000,000.

Wilten provides an outstanding Main Contractor service with a dedicated supply chain to ensure market-leading quality without compromise. This is achieved by using our vast experience and keeping things simple, taking forward the best industry practices, building on them, and ensuring a hands-on approach is taken by our leadership team. Client satisfaction, building trust and generating repeat business is at the heart of what we do.

Our service includes the fully managed design, procurement and delivery of our construction projects which, when paired with our vast experience, provides our clients with the comfort of hassle-free delivery, on time and on budget. We carry a wealth of Design & Build expert knowledge, industry-leading talent and premier on-site management meaning your project is in safe hands.

The Wilten Promise is our commitment to our clients, meaning that you can expect as standard:

• Professionalism

• Quality

• Safety

• Delivery

• Value

• The Best People working for you

Our ambition is to be the best at what we do, across all business activities, raising industry standards and setting the benchmark for our clients to generate repeat business for the continued success of the Company. We invest in people and are dedicated to building a team with industry leading talent.

Wilten Construction is a business built on values, and committed to excellence. Our values are designed to inspire success for our people, business and clients. Fundamentally we are vested in generating repeat business relationships and providing our clients, supply chain and employees with the very best construction experience with a future.

The Company’s Health and Safety record has been impeccable, with no RIDDORS or Health and Safety enforcement notices since trade began. This has been achieved by implementing a strong culture of health, safety and wellbeing throughout all business activities, reinforced with 100% of employees receiving health, safety and wellbeing training.

The Directors of Wilten Construction Ltd have reviewed the key risks and uncertainties relevant to the company’s operations. As a contractor focused on delivering projects across the industrial, commercial, retail, and logistics sectors, the business is exposed to a variety of market, operational, and financial risks. These are actively monitored and managed through a structured risk management framework.

Principal risks include:

• Margins: Main Contracting margins are typically low and therefore requires good management at every level of the business from pre-construction through to delivery and aftercare. This risk is managed by the Directors and Senior Management team by ensuring robust estimating, procurement and design controls are in place for any new contracts and by maintaining low overhead costs to remain agile to adapt to the market conditions.

• Insurance Markets: Whilst insurance premiums have generally improved this year, the bond market remains a challenge with availability of products is tightening. This makes it a lot harder to meet clients’ expectations and requirements, particularly where funding is involved. This risk is managed by engaging with clients to keep them informed of the market conditions and to provide alternative mechanisms under the contract. We have also built a good relationship with the insurance market and facility strength continues to improve to meet expected requirements.

• Supply Chain Constraints and Cost Pressures: Complex projects, particularly in logistics and industrial builds, often rely on specialist materials. Volatility in material prices or supply chain delays can impact project budgets and schedules. The company mitigates this through early procurement, strategic supplier partnerships, and value engineering during the pre-construction phase.

• Project Delivery and Operational Risk: Delivering high-quality buildings on time is essential, especially in the retail and logistics sectors where occupiers operate to tight handover deadlines. Failure to meet these expectations may result in liquidated damages or reputational harm. Wilten Construction Ltd employs experienced site management teams, implements robust programme controls, and engages in proactive stakeholder communication to reduce this risk.

• Labour Availability and Skills Shortages: The availability of skilled labour across trades and subcontract packages can impact delivery, particularly in peak periods. This is a sector-wide issue affecting large-scale industrial and commercial schemes. The company works closely with a trusted subcontractor network and invests in planning, training and sequencing to ensure resource availability.

• Planning and Regulatory Risk: Projects in the retail and logistics sectors are often subject to planning constraints, environmental requirements, statutory delays and evolving building regulations (e.g., BREEAM, Part L compliance, Building Safety Act). Delays or non-compliance can impact project start dates, completion dates and profitability. Wilten Construction Ltd mitigates this through early-stage planning support, technical due diligence, prompt orders, progress tracking and close liaison at very stage with client teams, consultants and local authorities.

• Contractual and Financial Exposure: Projects in these sectors frequently involve complex design-and-build and fixed-price contracts, where any scope changes or unforeseen issues can erode margins. Additionally, the company is exposed to client credit risk, payment delays and supply chain instability. To manage this, Wilten Construction Ltd ensures rigorous contract reviews, risk-adjusted pricing, and ongoing financial monitoring of clients and sub-contractors.

• Sector-Specific Market Risk: Demand across the industrial, retail, commercial, and logistics construction sectors is subject to broader economic trends, investor sentiment, and occupier demand. Political influences, rising interest rates, cost inflation, or reduced consumer and business confidence may delay new developments or impact project financing. Wilten Construction Ltd manages this risk by maintaining a diverse project portfolio and developing long-term relationships with developers, end-users, and consultants across multiple sectors.

Emerging risks include:

• Cyber Security: Risks have increased due to greater exposure from digital systems and cloud platforms; however, these risks are being mitigated through staff training, system upgrades,and planned certifications.

Principal uncertainties include:

• Economic Factors: The economy is continuing to push forward and the construction industry is continuing to see strong market activity, although this still remains an uncertainty. Speculative markets are returning following the change in Government, however there is caution owing to the Global economic uncertainties, particularly under the Trump administration with both industry and technology markets. End-user lead construction projects remain strong and will remain a target market until speculative construction returns to peak. By maintaining a strong forward order book, with new financial year minimum turn-over targets secured, Wilten Construction remains agile to overcome any potential downturn. Wilten Construction will continue with its strategy to invest in recruiting the best people as the labour market continues to open and talent becomes available.

The Board regularly reviews these and other operational risks as part of its corporate governance processes and believes that Wilten Construction Ltd has the appropriate controls and flexibility to manage current and emerging risks in a dynamic construction landscape.

Business Review and Performance including financial key performance indicators (KPIs)

The Company has delivered strong growth and operational performance:

• Turnover: £93m (2025: £70.21m)

• Gross Profit: 10% (2025: 7.4%)

• Net Profit: 4.8% (2025: 4.02%)

• Forward Order Book at start of financial year: £68m (2025: £60.2m)

• Cash Position: £20.6m (2025: £13m)

• Employees: 41 (2025: 38)

• Projects completed: 12 (2025: 10)

• Average contract value: £10m (2025: £9m)

Operational highlights include:

• 15 projects secured and 10 delivered

• 10–15 live projects maintained at any one time

• 50% repeat business

• Significant digital and AI integration progress

• Strong procurement performance via ProcurePro

The Company continues to demonstrate strong growth since inception, with turnover increasing significantly year-on-year.

The increase in performance this year is mainly down to more projects being tendered, accepted and completed compared to the year prior along with project average value increasing. The value creation is as a result of long-term client relationships leading to greater repeat business, a high quality aligned supply chain, strong operational leadership and delivery capability along with robust commercial and financial controls internally.

Other Key Performance Indicators (KPIs)

Operational & awards

• 15 projects secured and 10 delivered

• 10–15 live projects maintained at any one time

• 50% repeat business

• Significant digital and AI integration progress

• Strong procurement performance via ProcurePro

• Carbon reduction (exceeding 5% target)

• 8 BREEAM Excellent, 1 BREEAM Outstanding, 2 BREEAM Very Good projects

• SME News Business Elite Awards 2026 – Most Trusted Industrial and Commercial Contractor in the UK, for three years running

• Finalist Place for multiple industry awards including Construction News, East Midlands Business of the Year, National Building and Construction Awards Contractor of the Year, and CIOB Team Award

• Retained SSIP Accreditations, now certified as Principal Contractor and Principal Designer for both CDM and the Building Safety Act with SafeContractor and CHAS (CHAS Standard and Elite)

Health & Safety

• Health, Safety, Environmental, and Quality Systems improved and updated, with a successful audit of our ISO 45001, ISO 9001, and ISO 14001 with zero major and minor non-conformities

• Zero RIDDORS and Zero HSE Enforcement Notices

• ZERO Environmental Incidents

• Registered with the considerate constructors scheme and achieving 10 excellent scores.

Non-Financial Information Statement (Including ESG & SECR)

Governance Framework

The Company operates a structured ESG framework through its Wilten Care Programme, aligning sustainability, governance, and social value delivery.

ENVIRONMENT (Including SECR)

Approach

• Planet Mark certified (4 consecutive years)

• Net Zero target by 2030

• Annual carbon reduction exceeding 5%

SECR Disclosure

Prepared in line with:

• GHG Protocol Corporate Standard

• Planet Mark methodology

Emissions (2026)

• Scope 1 & 2 (Market-based): 238.7 tCO₂e

• Scope 3: 167.5 tCO₂e

• Intensity: 6.3 tCO₂e per employee

Key Achievements

• 60% electric fleet

• 100% waste recycled

• Scope 1 & 2 fully measured; Scope 3 in progress

Net Zero Pathway

• 2026: Full Scope 3 measurement

• 2027: Net Zero Transition Plan

• 2030: Net Zero target

Environmental Actions

• Energy-efficient sites and hybrid generators

• Sustainable transport and EV infrastructure

• Circular economy and waste reduction initiatives

• Responsible procurement and local sourcing

SOCIAL

People & Culture

• 100% workforce training completion

• Strong EDI commitment (30% female workforce)

• Leadership and development programmes

Health, Safety & Wellbeing

• ZERO RIDDOR incidents since inception

• Mental Health Charter commitment

• Mates in Mind & Lighthouse Charity partnership

• Access to healthcare and wellbeing services

Social Value

Measured via TOMS Framework and Planet Mark:

• £5.3m local economic contribution

• £68k+ community investment

• Work placements, apprenticeships, and training delivered

GOVERNANCE (ESG)

• Ethical business practices and anti-bribery controls

• Responsible supply chain management

• Compliance with modern slavery and human rights standards

• Transparent stakeholder engagement

Research & Development

The company continued to undertake research and development activities aimed at overcoming scientific and technological uncertainties within the construction industry that extended beyond current industry standards and capabilities. Key areas of focus included geotechnical engineering, drainage design, façade engineering, structural detailing and building physics, supporting innovation, sustainability, and the development of efficient, compliant construction solutions.

Future Outlook (2026–2027)

The Company remains cautiously optimistic. Our pipeline remains strong for 2026–2027, consistent with the previous financial year. The business continues to focus on delivering value while managing risk through collaboration with a dedicated supply chain. There has been a shift towards a more targeted pre-construction approach, prioritising opportunities with a high probability of award and alignment with Wilten’s core sectors and capabilities.

Market conditions:

• Reduced contract awards and delayed project starts

• Inflationary pressures (notably steel and energy)

• Increased negotiated procurement (60% vs 30% prior year)

Strategic response:

• Greater selectivity in project acquisition

• Focus on pipeline security

• Enhanced pre-construction and value engineering

• Increased use of technology and AI

• Focus on efficiency and sustainability

Targets (2027)

• 20% growth

• Maintain 10–15 live projects

• Increase negotiated work

• Strengthen repeat business pipeline

The Directors have acted in accordance with their duty under Section 172(1) of the Companies Act 2006 to promote the success of the Company for the benefit of its members as a whole. In fulfilling this duty, the Board has regard to the interests of the Company's stakeholders, the long-term consequences of decisions, the need to maintain high standards of business conduct, and the Company's impact on the communities and environments in which it operates.

As a construction business, the Company's success depends upon maintaining strong relationships with clients, employees, subcontractors, suppliers, consultants, local communities and regulatory bodies. The Board recognises that taking account of stakeholder interests supports sustainable growth, enhances project delivery and creates long-term value for shareholders.

Long-Term Success and Sustainable Growth

The Board's strategic focus is on the delivery of long-term, sustainable growth whilst maintaining strong financial performance and operational excellence. Decisions are made with consideration of the Company's forward order book, market opportunities, resource planning, risk management and financial resilience.

Investment in people as detailed in the below employee section, systems, technology and operational infrastructure supports the Company's ability to deliver projects safely, efficiently and to a high standard. The Board continually reviews business performance and market conditions to ensure the Company remains well positioned to meet future challenges and opportunities.

Employees

The Company's employees are central to its continued success. The Board is committed to providing a safe, inclusive and supportive working environment that promotes wellbeing, professional development and career progression.

The Company invests in training, apprenticeships, leadership development and technical skills to ensure employees have the competencies required to meet the evolving demands of the construction industry. Employee engagement and feedback are actively encouraged and help inform decisions relating to workplace practices, benefits and organisational development.

A strong health, safety and wellbeing culture remains a priority across all areas of the business, with the Board regularly reviewing performance and providing leadership and development programs.

Clients and Project Delivery

The Company places significant importance on understanding and meeting client requirements. The Board seeks to ensure projects are delivered safely, on programme, within budget and to the highest quality standards.

Maintaining open communication, transparency and collaborative working relationships with clients is fundamental to securing repeat business and strengthening the Company's reputation within the construction sector in which it operates. Client feedback is regularly reviewed and helps to provide continuous improvement of operational processes and service delivery.

Supply Chain and Business Partners

The Company's ability to successfully deliver projects relies upon a strong and dependable supply chain which the company has built since incorporation. The Board promotes collaborative relationships with new and old subcontractors, suppliers and professional consultants, recognising their vital contribution to project success.

Procurement decisions consider quality, competence, safety performance, sustainability credentials and value for money.

Health, Safety and Quality

Health and safety remains a fundamental consideration in all business decisions. The Board is committed to maintaining the highest standards of health, safety and wellbeing across its operations which it has demonstrated with its zero RIDDOR incidents score for another year.

Robust management systems, training programmes and audits support compliance with legislative requirements and industry best practice. Quality management and operational controls are embedded throughout project delivery to protect the Company's reputation and ensure consistently high standards.

Community, Environment and Sustainability

The Board recognises its responsibility to create positive social and environmental outcomes through its activities. The Company seeks to deliver meaningful social value within the communities where it operates through local employment opportunities, engagement with schools and community groups, charitable support and responsible procurement practices. This is measured using the TOMS framework and planet mark.

Environmental considerations form part of project planning and delivery, with a focus on reducing carbon emissions, improving resource efficiency, minimising waste and supporting sustainable construction practices. The Board regularly reviews environmental performance and sustainability objectives to ensure continuous improvement and has succeeded in exceeding its 5% target reduction and support long-term net-zero ambitions by 2030.

Governance and Decision-Making

The Board's decision-making is supported by established governance procedures, financial controls and risk management processes. When considering significant matters, Directors assess the potential impact on employees, clients, supply chain partners, shareholders, local communities and the environment.

The Board believes that having regard to these factors enables it to fulfil its responsibilities under Section 172 and supports the long-term success, resilience and reputation of the Company.

Over the past five years, we have worked closely with our suppliers to measure and actively reduce our carbon footprint. Having achieved annual certification every year since 2021, we have exceeded the standard target of -5% emissions reduction year-on-year, with a substantial -38% reduction in year five (YE 2026) across Scope 1, 2 and 3.

Through measuring and reducing our carbon footprint, we are directly and measurably contributing to the UN Sustainable Development Goals including:

• Clean water and sanitation

• Affordable and clean energy

• Decent work and economic growth

• Industry, innovation, and infrastructure

• Sustainable cities and communities

• Responsible consumption and production

• Climate action

• Life below water

Our key achievements for 2025 include:

• Reduction in energy use

• Reduction in electricity use

• 100% of fleet was electric or hybrid

• Donation to Eden Project

• Measured Scope 1, 2 and 3 Emissions

Our approach is integrated into project delivery through our E10 Carbon / Aspects and Impacts Tracker which is used on every project to monitor construction carbon impacts. This tracker provides information on the following, and is used for BREEAM Reporting purposes and to provide the total carbon figure for the construction phase:

• Energy – electricity and litres of fuel resulting from site accommodation and construction plant and equipment

• Water consumption - m3 from plant, equipment, and site accommodation

• Transport movement from point of supply for materials

Transportation of waste from construction to waste disposal or processing and recovery centre

Energy Consumption and Greenhouse Gas Emissions in kWh

Energy Consumption and Greenhouse Gas Emissions in Co2 Tonnes

On behalf of the board

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

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

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

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

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

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

The directors present their annual report and financial statements for the year ended 28 February 2026.

The principal activity of the company continued to be that of management of construction of commercial buildings.

The results for the year are set out on page 18.

Ordinary dividends were paid amounting to £500,000. The directors do not recommend payment of a further dividend.

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

The company made charitable donations of £44,947 (2025: £37,151) in the current year

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

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The company uses interest rate derivatives to manage the mix of fixed and variable rate debt so as to reduce its exposure to changes in interest rates.

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

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

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

• Risk management.

• Research and development activities.

• Future developments.

• Details of how the directors have had regards to the need to foster the company's stakeholder relationships.

• Energy and carbon reporting.

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

We have audited the financial statements of Wilten Construction Ltd (the 'company') for the year ended 28 February 2026 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 28 February 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

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

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

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

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

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

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

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

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:

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

• through discussions with the director and other staff, and from our commercial knowledge of the construction profession, we identified the laws and regulations applicable to the company and focused on specific laws and regulations which we considered may have a direct material effect on the financial statements and operations of the company. These included company law, taxation legislation and employment legislation; and

• we remained alert to instances of non-compliance throughout the audit and assessed the extent of compliance through discussions with the director and other staff, and examination of documentation.

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

• making enquiries of the director as to where he considered there was a susceptibility to fraud and his knowledge of any actual, suspected or alleged fraud; and

• considering the internal controls in place to mitigate the risk 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 unusual or unexpected relationships;

• reviewed the nominal ledger and, specifically, journal entries to identify large or unusual transactions and investigated them; and

• assessed the extent to which accounting entries relied on a high degree of judgement and/or estimation and, when deemed necessary, such as for financial assets held at fair value, obtained external evidence to support said judgement and/or estimation.

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 supporting documentation;

• reviewing correspondence with HMRC and the company's legal and other professional advisers;

• performing substantive procedures on material balances and transactions; and

• enquiring of the director as to any actual or potential litigation and claims.

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

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

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

Use of our report

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

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

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

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

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

Profit on construction contracts ongoing at the balance sheet date is calculated based on the final expected profit margin for that contract as a percentage of completion of the contract. The percentage of completion of a contract is calculated based on the sales value to date versus the full contract value. Sales value is measured by reference to independent quantity surveyors' regular reports on the project.

Where contracts are forecast to make a loss, these are treated as onerous contracts in accordance with FRS102 and the total estimated loss is recognised in the year as part of the cost of sales and in provisions for liabilities on the balance sheet.

During the year, no provision for onerous contracts have been deemed necessary (2025: nil)

Wilten Construction Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 8 The Point, Rockingham Road, Market Harborough, Leicestershire, UK, LE16 7QU.

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

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

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

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services

provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair

value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is

the present value of the future receipts. The difference between the fair value of the consideration and the

nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the

goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured

reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the

costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of construction services is recognised by reference to the stage of

completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The

stage of completion is calculated by an internal surveyor and then qualified by an external surveyor. Where

the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses

recognised that it is probable will be recovered.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Freehold property, which is property held for use to enable the company to carry out its objectives, are initially recognised at cost, which includes the purchase cost and any initial directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the statement of financial activities.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

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 current liabilities.

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

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

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

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

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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

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

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

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

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

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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

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

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

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

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

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

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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

Their aggregate remuneration comprised:

The directors are the only members of key management personnel.

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

Investment properties were valued on an open market basis on 28th February 2026 by the directors of the company.

Investment property comprises two (2025:0) properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 28th February 2026 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Freehold property is carried at fair value. There was no revaluation this year. If the freehold property was measured using the cost model, the carrying amount would have been £569,297 (2024: £581,203), being cost £606,698 (2024: £595,272) and depreciation £25,975 (2024: £14,069).

At 28 February 2026, retentions held by Wilten Construction for contract work amounted to £3,538,945 (2025: £2,284,943). This is included within other debtors.

Included within provisions is accrued costs relating to remedial works following completion of construction projects.

The following are the major deferred tax liabilities and assets recognised by the company:

The deferred tax liability set out above is expected to decrease by £28,922 over the next 12 months, this is due to the expected depreciation charge on all qualifying assets exceeding capital allowances by £115,687 The effective corporation tax rate for the next 12 months is expected to be 25.00%.

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

Wilten Construction Limited is an owner-managed business with an issued share capital of 100 £1 ordinary shares split equally between Mr M Fry and Mr N Basha. Both Mr Fry and Mr Basha have hands on day-to-day running of the company and are both involved in the decision-making and have control over the company’s operational and financial policies.

Wilten Construction Ltd entered into an agreement on 13th December 2023 and have exchanged on a property within the prior year. The liability was shown within other creditors falling due within one year.

The following amounts were outstanding at the reporting end date:

During the year Wilten Construction was provided consultancy fees of £81,800 (2025: £70,000) from a company controlled by close family members. £31,800 (2025: £70,000) remained outstanding as at the year-end.

During the year Wilten Construction issued a further loan of £54,650 (2025: £672,273) to a company under common control.

During the year a loan was written off of £726,923 (2025: £Nil) to a company under common control as shown in note 4. £Nil (2025: £672,273) remained outstanding as at the year-end.

The Company entered into a limitation liability agreement with the auditors and this was approved by resolution on 9th July 2026. Liability is limited to the lesser of 20 times the audit fee or £560,000. In accordance with section 537 of CA06, the effect of the liability limitation agreement is to limit the auditor's liability to less than such amount as is fair and reasonable, as determined by that section, the agreement shall have effect as if it limited the liability to such amount as is fair and reasonable, as so determined.

The agreement limits the liability owed to the Company by the auditors in respect of any negligence, default or breach of duty, or breach of trust, occurring in the course of the audit of the accounts for the year ending 28th February 2026.

The agreement does not limit liability for any instance of fraud or dishonesty on behalf of the auditor or any other liability that cannot be excluded or restricted by applicable laws or regulations.