ECSC Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11—12
Company Balance Sheet	13—14
Consolidated Statement of Changes in Equity	15
Company Statement of Changes in Equity	16
Consolidated Cash Flow Statement	17
Notes to the Consolidated Cash Flow Statement	18
Company Cash Flow Statement	19
Notes to the Company Cash Flow Statement	20
Notes to the Financial Statements	21—34

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

Review of the Business

Despite turnover reducing by £300,000 year-on-year, operating profit has been maintained at a similar level due to an improvement in the group's gross profit margin and a change in the sales mix. The prior year included a one-off contract generating approximately £1m of revenue. Whilst this contract contributed significantly to turnover, it generated comparatively lower margins than the group's core activities. In the current year, although turnover has reduced, the gross profit margin has increased from 32% to 35%, as work undertaken was more profitable and delivered more efficiently. As a result, a greater proportion of revenue has been converted into gross profit, offsetting the impact of the reduction in turnover. We have therefore been able to maintain overall profitability despite the absence of the one-off contract and lower revenue levels.

The increase in gross margin is due to better cost control and a greater focus on higher-margin contracts during the year.

The Directors continued to make a conscious effort to try to maintain and improve the gross profit margin by focusing on staff efficiency, a reduction in equipment hire, and a reduction in reliance on subcontracted labour.

A summary of results of the year’s trading is given on page 11 of the financial statements.

Principal Risks and Uncertainties

The group will always be exposed to commercial risks, including risks in competition, market opportunity, and compliance with industry accreditations. The Directors are responsible for ensuring that the business risks are actively managed.

Operational risks include skilled labour shortage. To mitigate this the group continues to invest in apprenticeships and training programs to secure and retain a skilled workforce.

Financial Key Performance Indicators

The directors consider that key financial performance indicators are those that communicate the financial performance and strength of the group, these being revenue, gross margin, and operating profit. In addition, the Directors monitor operational key performance indicators by project on a monthly basis.

Other matters

During the year the Group completed the closure and dissolution of Barnet Scaffolding Systems Limited, which had ceased trading.

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ECSC Limited

Strategic Report (continued)

For The Year Ended 31 December 2025

Section 172(1) Statement

Under section 172, directors have a duty to promote the success of the group for the benefit of its members. This includes considering the long-term consequences of decisions, the interests of employees, fostering business relationships, and maintaining high standards of business conduct. As the four directors are also the shareholders, this is demonstrated in all aspects of the business and communicated on an ongoing basis.

On behalf of the board

D Eaves

Director

05/08/2026

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ECSC Limited

Company No. 15445472

Directors' Report For The Year Ended 31 December 2025

Directors' Report

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

Principal Activity

The group's principal activity is that of a commercial access scaffolding contractor providing an experienced approach from project inception to completion with an in-house design team.

Directors

The directors who held office during the year were as follows:

D Eaves

J Clifford

L Cutten

J Sterling

Statement of Directors' Responsibilities

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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 and 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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ECSC Limited

Directors' Report (continued)

For The Year Ended 31 December 2025

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

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

Independent Auditors

Under section 487 (2) of the Companies Act 2006, SAS Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

On behalf of the board

D Eaves

Director

05/08/2026

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Independent Auditor's Report

to the Members of

ECSC Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of ECSC Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 December 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2025 and of the group's profit/(loss) 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 group and parent 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 group and parent company's ability to continue as a going concern for a period of at least 12 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.

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Independent Auditor's Report (continued)

to the Members of

ECSC Limited

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' 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. 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their 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 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 or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, 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 group and 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.

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Independent Auditor's Report (continued)

to the Members of

ECSC Limited

Auditor's Responsibilities for the Audit of the Financial Statements

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

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

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:

Enquiring of management around actual and potential litigation and claims;
Reviewing financial statement disclosures and testing to supporting documentation with applicable laws and regulations;
Performing audit work over the risks of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Reviewing the general ledger in detail for all transactions with related parties;
Performing walkthrough testing to ensure systems and controls are operating as recorded where appropriate.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

ECSC Limited

Auditor's Responsibilities for the Audit of the Financial Statements - continued

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Group's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audt and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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Independent Auditor's Report (continued)

to the Members of

ECSC Limited

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 that 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.

Khushil Gokani

Statutory Auditor

05/08/2026

SAS Audit Limited

SAS House

Chipperfield Road

Kings Langley

Hertfordshire

WD4 9JB

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ECSC Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 December 2025

Consolidated Statement of Comprehensive Income

		31 December 2025	31 December 2024
	Notes	£	£
TURNOVER	3	8,078,002	8,376,721
Cost of sales		(5,275,574 )	(5,658,247 )

GROSS PROFIT		2,802,428	2,718,474

Administrative expenses		(1,684,281 )	(1,558,608 )

OPERATING PROFIT	4	1,118,147	1,159,866
Other interest receivable and similar income	9	4,838	13,407
Interest payable and similar charges	10	(136,317 )	(154,088 )

PROFIT BEFORE TAXATION		986,668	1,019,185
Tax on Profit	11	(208,419 )	(241,295 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		778,249	777,890
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		778,249	777,890

The notes on pages 18 to 34 form part of these financial statements.

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ECSC Limited

Consolidated Balance Sheet

As At 31 December 2025

Consolidated Balance Sheet

Registered number: 15445472

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	12		(910,681 )		(1,024,516 )
Tangible Assets	13		3,835,636		3,820,219

			2,924,955		2,795,703
CURRENT ASSETS
Debtors	15	1,899,192		1,644,267
Cash at bank and in hand		651,287		1,036,348

		2,550,479		2,680,615
Creditors: Amounts Falling Due Within One Year	16	(2,799,543 )		(3,481,373 )

NET CURRENT ASSETS (LIABILITIES)			(249,064 )		(800,758 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,675,891		1,994,945

Creditors: Amounts Falling Due After More Than One Year	17		(461,805 )		(413,458 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	20		(937,847 )		(943,497 )

NET ASSETS			1,276,239		637,990

CAPITAL AND RESERVES
Called up share capital	22		100		100
Revaluation reserve			266,000		304,000
Profit and Loss Account			1,010,139		333,890

SHAREHOLDERS' FUNDS			1,276,239		637,990

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ECSC Limited

Consolidated Balance Sheet (continued)

As At 31 December 2025

On behalf of the board

D Eaves

Director

05/08/2026

The notes on pages 18 to 34 form part of these financial statements.

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ECSC Limited

Company Balance Sheet

As At 31 December 2025

Company Balance Sheet

Registered number: 15445472

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	14		2,073,085		2,073,085

			2,073,085		2,073,085
CURRENT ASSETS
Cash at bank and in hand		6,556		126,122

		6,556		126,122
Creditors: Amounts Falling Due Within One Year	16	(1,953,279 )		(2,194,586 )

NET CURRENT ASSETS (LIABILITIES)			(1,946,723 )		(2,068,464 )

TOTAL ASSETS LESS CURRENT LIABILITIES			126,362		4,621

NET ASSETS			126,362		4,621

CAPITAL AND RESERVES
Called up share capital	22		100		100
Profit and Loss Account			126,262		4,521

SHAREHOLDERS' FUNDS			126,362		4,621

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ECSC Limited

Company Balance Sheet (continued)

As At 31 December 2025

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 261,741 (2024: £ 124,521 profit).

On behalf of the board

D Eaves

Director

05/08/2026

The notes on pages 18 to 34 form part of these financial statements.

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ECSC Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2025

Consolidated Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total
	£	£	£	£
As at 26 January 2024	-	342,000	(342,000 )	-
Profit for the period and total comprehensive income	-	-	777,890	777,890

Dividends paid	-	-	(140,000)	(140,000)
Arising on shares issued during the period	100	-	-	100
Transfer from revaluation reserve	-	-	38,000	38,000
Transfer to/from Profit & Loss Account	-	(38,000 )	-	(38,000)

As at 31 December 2024 and 1 January 2025	100	304,000	333,890	637,990


Profit for the year and total comprehensive income	-	-	778,249	778,249

Dividends paid	-	-	(140,000)	(140,000)
Transfer from revaluation reserve	-	-	38,000	38,000
Transfer to/from Profit & Loss Account	-	(38,000 )	-	(38,000)

As at 31 December 2025	100	266,000	1,010,139	1,276,239

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ECSC Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2025

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 26 January 2024	-	-	-
Profit for the period and total comprehensive income	-	124,521	124,521

Dividends paid	-	(120,000)	(120,000)
Arising on shares issued during the period	100	-	100

As at 31 December 2024 and 1 January 2025	100	4,521	4,621


Profit for the year and total comprehensive income	-	261,741	261,741

Dividends paid	-	(140,000)	(140,000)

As at 31 December 2025	100	126,262	126,362

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ECSC Limited

Consolidated Cash Flow Statement

For The Year Ended 31 December 2025

Consolidated Cash Flow Statement

		31 December 2025	31 December 2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,066,076	2,375,326
Interest paid		(136,317 )	(154,088 )
Tax paid		(207,403 )	(98,039 )

Net cash generated from operating activities		722,356	2,123,199

Cash flows from investing activities
Purchase of intangible assets		-	1,024,516
Purchase of tangible assets		(643,436 )	(437,969 )
Proceeds from disposal of tangible assets		54,992	129,420
Purchase of investment in subsidiary undertaking		-	(2,073,085 )
Interest received		4,838	13,407

Net cash used in investing activities		(583,606 )	(1,343,711 )

Cash flows from financing activities
Proceeds from issue of share capital		-	100
Equity dividends paid		(140,000 )	(140,000 )
Proceeds from new bank borrowings		82,574	-
Repayment of bank borrowings		-	(461,253 )
Repayment of finance leases		(66,385 )	458,013
Amount introduced by directors		-	400,000
Amount withdrawn by directors		(400,000)	-

Net cash (used in)/generated from financing activities		(523,811 )	256,860



(Decrease)/increase in cash and cash equivalents		(385,061 )	1,036,348
Cash and cash equivalents at beginning of year	2	1,036,348	-

Cash and cash equivalents at end of year	2	651,287	1,036,348

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ECSC Limited

Notes to the Consolidated Cash Flow Statement

For The Year Ended 31 December 2025

Notes to the Consolidated Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	31 December 2025	31 December 2024
	£	£
Profit for the financial year	778,249	777,890
Adjustments for:
Tax on profit	208,419	241,295
Interest expense	136,317	154,088
Interest income	(4,838 )	(13,407 )
Amortisation of intangible assets	(113,835 )	(113,835 )
Depreciation of tangible assets	573,027	516,757
Profit on disposal of tangible assets	-	(44,963)
Movements in working capital:
Increase in trade and other debtors	(254,925 )	(1,644,267 )
(Decrease)/increase in trade and other creditors	(256,338 )	2,501,768

Net cash generated from operations	1,066,076	2,375,326

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	31 December 2025	31 December 2024
	£	£
Cash at bank and in hand	651,287	1,036,348

3. Analysis of changes in net funds/(debt)

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	1,036,348	(385,061)	651,287
Finance leases	(779,442)	66,385	(713,057)
Debts falling due within one year	-	(28,472)	(28,472 )
Debts falling due after more than one year	-	(54,102)	(54,102)

	256,906	(401,250)	(144,344)

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ECSC Limited

Company Cash Flow Statement

For The Year Ended 31 December 2025

Company Cash Flow Statement

		31 December 2025	31 December 2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	148,901	1,788,408

Net cash generated from operating activities		148,901	1,788,408

Cash flows from investing activities
Purchase of investment in subsidiary undertaking		-	(2,073,085 )
Interest received		626	699
Dividends received		270,907	130,000

Net cash generated from/(used in) investing activities		271,533	(1,942,386 )

Cash flows from financing activities
Proceeds from issue of share capital		-	100
Equity dividends paid		(140,000 )	(120,000 )
Amount introduced by directors		-	400,000
Amount withdrawn by directors		(400,000)	-

Net cash (used in)/generated from financing activities		(540,000 )	280,100



(Decrease)/increase in cash and cash equivalents		(119,566 )	126,122
Cash and cash equivalents at beginning of year	2	126,122	-

Cash and cash equivalents at end of year	2	6,556	126,122

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ECSC Limited

Notes to the Company Cash Flow Statement

For The Year Ended 31 December 2025

Notes to the Company Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	31 December 2025	31 December 2024
	£	£
Profit for the financial year	261,741	124,521
Adjustments for:
Interest income	(626 )	(699 )
Income from shares in group undertakings	(270,907)	(130,000)
Movements in working capital:
Increase in trade and other creditors	158,693	1,794,586

Net cash generated from operations	148,901	1,788,408

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	31 December 2025	31 December 2024
	£	£
Cash at bank and in hand	6,556	126,122

3. Analysis of changes in net funds

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	126,122	(119,566)	6,556

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ECSC Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

ECSC Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15445472 . The registered office is SAS House, Chipperfield Road , Kings Langley, WD4 9JB. The principal place of business is The Lodge, Essex Road, Hoddesdon, Hertfordshire, EN11 0AT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2. Basis Of Consolidation

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.3. Going Concern Disclosure

The Directors have assessed whether the Company has adequate resources to meet its obligations as they fall due and beyond the 12 months from the date of the approval of these financial statements. The Directors have reviewed their forecasts and cash flow requirements for this period.

The Directors are confident that the Company has sufficient working capital available to continue in operational existence for the forseeable future and believe that the going concern basis of accounting is appropriate for these annual financial statements.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Intangible Fixed Assets and Amortisation - Goodwill

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	straight line over the term of the lease
Plant & Machinery	2-25 years
Motor Vehicles	25% straight line
Fixtures & Fittings	25% straight line
Computer Equipment	25% straight line

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Income Statement as incurred.

2.8. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.9. Financial Instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are intitially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversalis 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 the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and reward of the ownership and control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest. 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. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liablities are offset and 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.

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.10. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.11. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by geographical market is as follows:

	31 December 2025	31 December 2024
	£	£
United Kingdom	8,078,002	8,376,721

	8,078,002	8,376,721

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Operating Profit

The operating profit is stated after charging:

	31 December 2025	31 December 2024
	£	£
Depreciation of tangible fixed assets	573,027	516,757
Amortisation of intangible fixed assets	(113,835 )	(113,835 )

5. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	31 December 2025	31 December 2024
	£	£
Audit Services
Audit of the company's financial statements	12,360	11,500

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	31 December 2025	31 December 2024
	£	£
Wages and salaries	3,513,360	3,695,369
Social security costs	452,434	406,627
Other pension costs	95,107	89,667

	4,060,901	4,191,663

7. Average Number of Employees

Group

Average number of employees, including directors, during the year was: 74 (2024: 74)

Company

Average number of employees, including directors, during the year was: 4 (2024: 4)

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Directors' remuneration

	31 December 2025	31 December 2024
	£	£
Emoluments	379,427	371,532
Company contributions to money purchase pension schemes	18,872	15,404

	398,299	386,936

The number of directors to whom retirement benefits were accruing was as follows:

	31 December 2025		31 December 2024
Defined benefit pension schemes	3		3

Information regarding the highest paid director was as follows:

	31 December 2025	31 December 2024
	£	£
Emoluments	154,462	145,879
Company contributions to money purchase pension schemes	7,723	6,341

	162,185	152,220

9. Interest Receivable and Similar Income

	31 December 2025	31 December 2024
	£	£
Bank interest receivable	4,838	12,089
Other interest receivable	-	1,318

	4,838	13,407

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Interest Payable and Similar Charges

	31 December 2025	31 December 2024
	£	£
Bank loans and overdrafts	73,183	79,938
Finance charges payable under finance leases and hire purchase contracts	63,134	74,150

	136,317	154,088

11. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		31 December 2025	31 December 2024
	31 December 2025	31 December 2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	214,069	138,225
Prior period adjustment			-	8,349

			214,069	146,574
Deferred Tax
Deferred taxation			(5,650 )	94,721


Total tax charge for the period			208,419	241,295

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

	31 December 2025	31 December 2024
	£	£
Profit before tax	986,668	1,019,185

Tax on profit at 25% (UK standard rate)	246,667	254,796
Expenses not deductible for tax purposes	108,763	96,099

...CONTINUED

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Capital allowances	(141,361 )	(212,670 )
Short term timing differences	(5,650 )	94,721
Prior period adjustment	-	8,349

Total tax charge for the period	208,419	241,295

12. Intangible Assets

Group

	Goodwill
	£
Cost
As at 1 January 2025	(1,008,351 )

As at 31 December 2025	(1,008,351 )

Amortisation
As at 1 January 2025	16,165
Other	(113,835 )

As at 31 December 2025	(97,670 )

Net Book Value
As at 31 December 2025	(910,681 )

As at 1 January 2025	(1,024,516 )

The group acquired Barnet Scaffolding Systems Limited in 2023 which led to the recognition of negative goodwill in the intangible assets as shown above.

Company

The company had no intangible fixed assets as at 31 December 2025 or 31 December 2024.

13. Tangible Assets

Group

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2025	22,670	5,902,900	1,241,145	54,196
Additions	-	229,760	413,676	-
Disposals	-	(42,300 )	(231,000 )	-

As at 31 December 2025	22,670	6,090,360	1,423,821	54,196

...CONTINUED

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Depreciation
As at 1 January 2025	10,390	2,693,644	643,286	53,372
Provided during the period	2,267	306,697	263,583	480
Disposals	-	(25,791 )	(192,517 )	-

As at 31 December 2025	12,657	2,974,550	714,352	53,852

Net Book Value
As at 31 December 2025	10,013	3,115,810	709,469	344

As at 1 January 2025	12,280	3,209,256	597,859	824


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2025	29,158	7,250,069
Additions	-	643,436
Disposals	-	(273,300 )

As at 31 December 2025	29,158	7,620,205

Depreciation
As at 1 January 2025	29,158	3,429,850
Provided during the period	-	573,027
Disposals	-	(218,308 )

As at 31 December 2025	29,158	3,784,569

Net Book Value
As at 31 December 2025	-	3,835,636

As at 1 January 2025	-	3,820,219

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	31 December 2025	31 December 2024
	£	£
Plant & Machinery	1,001,330	937,071
Motor Vehicles	673,403	565,597

	1,674,733	1,502,668

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Company

The company had no tangible fixed assets as at 31 December 2025 or 31 December 2024.

14. Investments

Company

	Subsidiaries
	£
Cost
As at 1 January 2025	2,073,085

As at 31 December 2025	2,073,085

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	2,073,085

As at 1 January 2025	2,073,085

Subsidiaries

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

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Barnet Scaffolding Services Limited	SAS House, Friarswood, Chipperfield Road, Kings Langley, Hertfordshire, WD4 9JB	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Barnet Scaffolding Services Limited	4,133,642	673,622

During the year, Barnet Scaffolding Systems Limited, a wholly owned subsidiary undertaking, ceased trading and was subsequently dissolved. The results of Barnet Scaffolding Systems Limited have been included in the consolidated financial statements up to the date of dissolution.

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

15. Debtors

	Group		Company
	31 December 2025	31 December 2024	31 December 2025	31 December 2024
	£	£	£	£
Due within one year
Trade debtors	1,801,552	1,484,447	-	-
Other debtors	97,640	159,820	-	-

	1,899,192	1,644,267	-	-

16. Creditors: Amounts Falling Due Within One Year

	Group		Company
	31 December 2025	31 December 2024	31 December 2025	31 December 2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	305,354	365,984	-	-
Trade creditors	343,078	612,223	-	-
Bank loans and overdrafts	28,472	-	-	-
Amounts owed to group undertakings	-	-	1,947,279	1,788,586
Other creditors	463,522	843,727	-	400,000
Corporation tax	144,891	138,225	-	-
Taxation and social security	103,966	75,395	-	-
Accruals and deferred income	1,410,260	1,445,819	6,000	6,000

	2,799,543	3,481,373	1,953,279	2,194,586

17. Creditors: Amounts Falling Due After More Than One Year

	Group
	31 December 2025	31 December 2024
	£	£
Net obligations under finance lease and hire purchase contracts	407,703	413,458
Bank loans	54,102	-

	461,805	413,458

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

18. Loans

An analysis of the maturity of loans is given below:

	Group
	31 December 2025	31 December 2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	28,472	-

	Group
	31 December 2025	31 December 2024
	£	£
Amounts falling due between one and five years:
Bank loans	54,102	-

19. Obligations Under Finance Leases and Hire Purchase

	Group
	31 December 2025	31 December 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	305,354	365,984
Later than one year and not later than five years	407,703	413,458

	713,057	779,442

	713,057	779,442

20. Deferred Taxation

The provision for deferred tax is made up as follows:

	31 December 2025	31 December 2024
	£	£
Other timing differences	937,847	943,497

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

21. Provisions for Liabilities

Group
	Deferred Tax	Total
	£	£
As at 1 January 2025	943,497	943,497
Utilised	(5,650 )	(5,650)

Balance at 31 December 2025	937,847	937,847

22. Share Capital

	31 December 2025	31 December 2024
	£	£
Allotted, Called up and fully paid	100	100

23. Capital Commitments

	31 December 2025	31 December 2024
	£	£
At the end of the period	-	377,874

At the end of the period, neither the group, nor the company itself, had capital commitments contracted for but not provided in these financial statements.

24. Other Commitments

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

	31 December 2025	31 December 2024
	£	£
Not later than one year	154,422	129,422
Later than one year and not later than five years	492,482	533,128

	646,904	662,550

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ECSC Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

25. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £95,107 (2024: £89,667).

At the balance sheet date contributions of £17,325 (2024: £12,419) were due to the fund and are included in creditors.

26. Dividends

	31 December 2025	31 December 2024
	£	£
On equity shares:
Final dividend paid	140,000	140,000

27. Related Party Disclosures

The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

28. Controlling Parties

The company has no controlling party.

Page 34