REGISTERED NUMBER: 07566614 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

AYM (SERVICES) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditor

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTOR:

M Loizias

SECRETARY:

Mrs D M Siddorn

REGISTERED OFFICE:

Lakeside Park

Medway City Estate

Kent

ME2 4LT

REGISTERED NUMBER:

07566614 (England and Wales)

AUDITOR:

M Georghiades

( Senior Statutory Auditor )

M Georghiades and Associates

130A Drakes Lane Potters Bar

Hertfordshire

EN6 1AF

The director presents his strategic report for the year ended 30 September 2025.

REVIEW OF BUSINESS

The company delivered a strong trading performance in the year, reporting turnover of £23,993,596 - an increase of £6,336,244 (36%) on the prior year (2024: £17,657,352). Profit before tax was £601,217 (2024: £657,623). The duration of the company's contracts typically ranges from 9 months to 2 years, providing good forward visibility of workload.

During the year, the group disposed of its scaffolding and brickwork operations. These disposals allow the group to concentrate its resources and management focus on AYM (Services) and its core building completion and finishing activities going forward.

Growth in the year was driven both by the company's established client base and by new work secured in the Midlands, Wales and the South West, meaning the company now operates across a large proportion of the United Kingdom. The company benefits from a strong client base with a high level of repeat business, reflecting AYM's record of consistent operational delivery. While the company continues to work for its traditional client base of large residential developers, it has also successfully diversified into other sectors including education, health and data centres, broadening its revenue base and reducing reliance on any single market.

The year was not without its challenges. In common with the wider construction industry, the company faced higher employment costs, increased material prices (the company's products being predominantly oil-based), and elevated finance costs. Delays to project start dates arising from the Building Safety Act "Gateway" approval process also affected the timing of workload. The director considers that the business has navigated these challenges successfully and has still returned a strong set of financial results, with gross margin maintained at 24.6% (2024: 24.4%).

The company also continued to reduce its indebtedness during the year. Total bank loans reduced from £648,087 to £619,791, and net repayments of £1,469,502 were made against the company's invoice discounting facility. The director expects the company's loans to be fully repaid by the end of 2027, further strengthening the balance sheet and reducing finance costs.

PRINCIPAL RISKS AND UNCERTAINTIES

The market in which the company operates is highly competitive. The director actively manages risk across all areas of the business. The principal risks are considered to be competition risk, reputational risk and credit risk.

The company is also exposed to input cost risk, in particular labour costs and material prices linked to oil-based products, and to interest rate risk on its borrowings. The planned reduction in borrowings over the period to the end of 2027 will progressively reduce the company's exposure to interest rates. Regulatory risk, including the impact of the Building Safety Act approval process on project programmes, is managed through early engagement with clients and careful contract and programme planning.

The director has made strategic decisions in the best interests of the company and is of the opinion that the company has sufficient reserves to continue in operational existence for the foreseeable future.

KEY PERFORMANCE INDICATORS

The director considers the following to be the key performance indicators of the business:

2025

2024

£

£

Turnover

23,993,596

17,657,352

Gross profit

5,909,351

4,305,303

Gross margin

24.63%

24.40%

Profit before tax

601,217

657,623

Net assets

2,942,602

3,077,909

KEY STRATEGY AND FUTURE DEVELOPMENTS

The director has built a strong brand and reputation by providing a first-class service on construction projects, achieved by aligning the company closely with its clients and ensuring a full understanding of their requirements.

During the year, the company increased the size of its in-house technical and design team. With this capability, AYM is now involved with clients at an early, pre-construction stage, assisting them in selecting the best and most economic products and specifications for their future projects - projects which AYM is then well placed to deliver. The director considers this early engagement to be a key differentiator and a driver of future workload.

The company's strategy is to continue to specialise in its principal activities, build on its expanded geographic coverage and sector diversification, maintain its brand and reputation for operational delivery, and manage the risk areas across the business.

FINANCIAL POSITION

The company is in good financial health, with substantial net current assets and cash at bank of £1,411,516 at the year end (2024: £510,343), and is able to fund the expansion of the business from its own resources. The results for the year and the financial position at the year end were considered satisfactory by the director, who expects controlled growth and profitability to continue for the foreseeable future.

The director is confident that the company will further strengthen its financial position by building on its current portfolio of contracts and growing the business with both existing and new clients.

EMPLOYEES

The company's people remain central to its success, and during the year the company continued to invest in its staff, with a number of employees attaining Chartered status. It is the policy of the company to encourage and develop all members of staff to realise their maximum potential. Wherever possible, vacancies are filled from within the company and adequate opportunities for internal promotion are created. The Board is committed to a systematic training and development policy so that staff can make their best possible contribution to the organisation's success.

The company supports the principle of equal opportunities in employment and opposes all forms of unlawful or unfair discrimination on the grounds of race, age, nationality, religion, ethnic or national origin, sexual orientation, gender or gender reassignment, marital status or disability. It is also the policy of the company, where possible, to give sympathetic consideration to disabled persons in their applications for employment and to protect the interests of existing members of staff who are disabled.

The company has made the necessary provision for employees to work remotely and remain connected to the company intranet.

ENVIRONMENTAL POLICY

The Board acknowledges that environmental protection is one of the company's business responsibilities. It aims for continuous improvement in the company's environmental performance and compliance with all relevant regulations. The Board does not consider that this line of business has a large adverse impact upon the environment and, as a result, the company does not manage its business by reference to any environmental key performance indicators. The company seeks to maintain a high proportion of its records electronically and, of the paper it does use, over 80% is recycled.

ON BEHALF OF THE BOARD:

M Loizias - Director

7 August 2026

The director presents his report with the financial statements of the company for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of other building completion and finishing.

DIVIDENDS

An interim dividend of 7,000 per share was paid on 30 September 2025. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 September 2025 will be £ 700,000 .

DIRECTOR

M Loizias held office during the whole of the period from 1 October 2024 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year, the company made charitable donations of totalling £7,175 to various local and national charities. No political donations or expenditure were incurred during the period.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITOR

The auditors, M Georghiades, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Loizias - Director

7 August 2026

Opinion

We have audited the financial statements of AYM (Services) Limited (the 'company') for the year ended 30 September 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 2025 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 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditor thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

-	adequate accounting records have not been kept, 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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditor 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence,

capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditor 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.

M Georghiades

( Senior Statutory Auditor )

M Georghiades and Associates

130A Drakes Lane Potters Bar

Hertfordshire

EN6 1AF

7 August 2026

REVENUE

3

23,993,596

17,657,352

Cost of sales

18,084,245

13,352,049

GROSS PROFIT

5,909,351

4,305,303

Administrative expenses

5,070,355

3,428,012

838,996

877,291

Other operating income

-

3,596

OPERATING PROFIT

5

838,996

880,887

Loan written off

6

51,745

-

787,251

880,887

Interest payable and similar expenses

7

186,034

223,264

PROFIT BEFORE TAXATION

601,217

657,623

Tax on profit

8

36,524

8,885

PROFIT FOR THE FINANCIAL YEAR

564,693

648,738

PROFIT FOR THE YEAR

564,693

648,738

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

564,693

648,738

FIXED ASSETS

Property, plant and equipment

10

303,574

125,904

Investments

11

100

100

303,674

126,004

CURRENT ASSETS

Inventories

12

235,765

912,403

Debtors

13

7,617,794

8,038,127

Cash at bank

1,411,516

510,343

9,265,075

9,460,873

CREDITORS

Amounts falling due within one year

14

6,248,855

6,271,655

NET CURRENT ASSETS

3,016,220

3,189,218

TOTAL ASSETS LESS CURRENT LIABILITIES

3,319,894

3,315,222

CREDITORS

Amounts falling due after more than one year

15

(369,371

)

(236,993

)

PROVISIONS FOR LIABILITIES

19

(7,921

)

(320

)

NET ASSETS

2,942,602

3,077,909

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

2,942,502

3,077,809

SHAREHOLDERS' FUNDS

2,942,602

3,077,909

The financial statements were approved by the director and authorised for issue on 7 August 2026 and were signed by:

M Loizias - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2023

100

2,429,071

2,429,171

Changes in equity

Total comprehensive income

-

648,738

648,738

Balance at 30 September 2024

100

3,077,809

3,077,909

Changes in equity

Dividends

-

(700,000

)

(700,000

)

Total comprehensive income

-

564,693

564,693

Balance at 30 September 2025

100

2,942,502

2,942,602

Cash flows from operating activities

Cash generated from operations

1

2,534,277

1,092,548

Interest paid

(163,023

)

(213,698

)

Interest element of hire purchase payments paid

(23,011

)

(9,566

)

Tax paid

-

(8,885

)

Net cash from operating activities

2,348,243

860,399

Cash flows from investing activities

Purchase of tangible fixed assets

(14,540

)

(61,631

)

Sale of tangible fixed assets

-

1,046

Net cash from investing activities

(14,540

)

(60,585

)

Cash flows from financing activities

New loans in year

500,000

-

Loan repayments in year

(528,296

)

-

Bank Loans during the year

-

(522,121

)

Capital repayments - hire purchase

(129,139

)

6,122

Amount introduced by directors

194,407

-

Amount withdrawn by directors

-

(194,947

)

New invoice discounting drawn

322,152

-

Repayment of invoice discounting

(1,791,654

)

-

Net cash from financing activities

(1,432,530

)

(710,946

)

Increase in cash and cash equivalents

901,173

88,868

Cash and cash equivalents at beginning of year

2

510,343

421,475

Cash and cash equivalents at end of year

2

1,411,516

510,343

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

2025

2024

£

£

Profit before taxation

601,217

657,623

Depreciation charges

54,711

55,076

Loss on disposal of fixed assets

20,105

-

Loan balances written off

51,745

17,307

Non cash management fee settled

700,000

-

Finance costs

186,034

223,264

1,613,812

953,270

Decrease in inventories

676,638

139,063

Increase in trade and other debtors

(1,225,819

)

(2,353,843

)

Increase in trade and other creditors

1,469,646

2,354,058

Cash generated from operations

2,534,277

1,092,548

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2025

30.9.25

1.10.24

£

£

Cash and cash equivalents

1,411,516

510,343

Year ended 30 September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

510,343

421,475

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

Other

non-cash

At 1.10.24

Cash flow

changes

At 30.9.25

£

£

£

£

Net cash

Cash at bank

510,343

901,173

1,411,516

510,343

901,173

1,411,516

Debt

Finance leases

(198,936

)

129,139

(199,769

)

(307,743

)

Debts falling due

within 1 year

(489,613

)

57,322

-

(432,291

)

Debts falling due

after 1 year

(158,474

)

(29,026

)

-

(187,500

)

(847,023

)

157,435

(199,769

)

(927,534

)

Total

(336,680

)

1,058,608

(199,769

)

483,982

1.	STATUTORY INFORMATION

AYM (Services) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going Concern

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

The director regards the foreseeable future as no less than twelve months following the publication of these annual financial statements. The director has considered the company's balance sheet position as at the year end, its working capital forecasts and projections, taking account of possible changes in trading performance and the current state of its operating market, and is satisfied that for the foreseeable future, the company's financial position is improving and will enable the company to remain in operational existence. In addition, the director and the shareholders have agreed to provide continuing financial support as and when required to enable the company to continue in operational existence. Consequently, the director considers it to be appropriate to prepare the financial statements on the going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about AYM (Services) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is 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 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.

In preparing these financial statements the directors have made the following judgements:

Provisions

Provisions have been made for trade debtors and inventory obsolescence and returns, where appropriate. These provisions are an estimate of the actual costs and the timing of future cash flows is dependent on future events. The difference between expectations and the actual future liability will be accounted for in the period when such determination is made.

Revenue

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover is reduced for customer returns and other similar allowances.

Turnover is recognised at the point the company has transferred to the buyer the significant risks and rewards, the amount of the turnover can be measured reliably and it is probable the economic benefits associated with the transactions will flow to the company.

Turnover related income from maintenance contracts is recognised evenly over the period of the contract.

When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity at the balance sheet date. When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that are likely to be recoverable. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Contract revenue comprises the initial amount of revenue agreed in the contract and variations in the contract work and claims that can be measured reliably. A variation or a claim is recognised as contract revenue when it is probable that the customer will approve the variation or negotiations have reached an advanced stage such that it is probable that the customer will accept the claim.

The stage of completion is measured by reference to the ratio of contract costs incurred to date to the estimated total costs for the contract. Costs incurred during the financial year in connection with future activity on a contract are excluded from the costs incurred to date when determining the stage of completion of a contract. Such costs are shown as construction contract work-in-progress on the balance sheet unless it is not probable that such contract costs are recoverable from the customers, in which case, such costs are recognised as an expense immediately.

At the balance sheet date, the cumulative costs incurred plus recognised profit (less recognised loss) on each contract is compared against the progress billings. Where the cumulative costs incurred plus the recognised profits (less recognised losses) exceed progress billings, the balance is presented as due from customers on construction contracts within "Gross amounts recoverable on contract customers". Where progress billings exceed the cumulative costs incurred plus recognised profits (less recognised losses), the balance is presented as due to customers on construction contracts within "Payments on account".

Progress billings not yet paid by customers and retentions by customers are included within "Amount

recoverable on contract". Advances received are included within "Payments on account".

Tangible fixed assets

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment

losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 25% straight line

Fixtures and fittings - 33% straight line

Motor vehicles - 25% straight line

The company has a policy not to depreciate in the year fixed assets are bought and depreciate it fully in the year the assets are sold.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairments.

Stocks

Stock is valued at lower of cost and net realisable value. A source of estimation uncertainty surrounds the net realisable value of the stock and as to whether or not there is an indication of impairment. To address this, management review both historic and post year end sales of all stock lines compared to quantity of stock held and use this to form the basis for any impairment. In order to establish an appropriate cost of the stock, the cumulative value of the last purchase price, the cost of duty, commission and shipping are taken into account. These costs are re-assessed on an annual basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the yearr end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.

REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

An analysis of revenue by class of business is given below:

2025

2024

£

£

Building Completion

23,993,596

17,657,352

23,993,596

17,657,352

An analysis of revenue by geographical market is given below:

2025

2024

£

£

United Kingdom

23,993,596

17,657,352

23,993,596

17,657,352

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,289,291

1,692,203

Other pension costs

92,288

58,889

2,381,579

1,751,092

The average number of employees during the year was as follows:

2025

2024

61

42

2025

2024

£

£

Director's remuneration

-

-

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Plant Hire

79,988

75,013

Other operating leases

93,351

57,517

Depreciation - owned assets

16,929

9,987

Depreciation - assets on hire purchase contracts

37,782

45,089

Auditors' remuneration

14,600

18,400

6.	EXCEPTIONAL ITEMS

2025

2024

£

£

Loan written off

(51,745

)

-

During the year a fellow subsidiary was sold by the parent company to a third party. The Intercompany loan that was receivable from the former fellow subsidiary of £51,745 became irrecoverable.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Invoice discounting interest

71,324

74,986

Bank Interest

91,699

132,815

Interest on overdue tax

-

5,897

Hire purchase

23,011

9,566

186,034

223,264