Company registration number 04362402 (England and Wales)
EASTERN CONCRETE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
EASTERN CONCRETE LIMITED
COMPANY INFORMATION
Director
Mr T G Baker
Company number
04362402
Registered office
Stowmarket Business Park
Ernest Nunn Road
Stowmarket
IP14 2ED
Auditor
Ensors
Connexions
159 Princes Street
Ipswich
IP1 1QJ
EASTERN CONCRETE LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2 - 3
Director's responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 21
EASTERN CONCRETE LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 1 -

The director presents the strategic report for the period ended 31 December 2025.

Review of the business

During the period the company continued to invest in its people, capital equipment and operational efficiencies. The strategic focus on higher value solutions resulted a strong turnover for the 15 months ended 31 December 2025 of £30.0m compared to the previous 6 months to 30 September 2024 turnover of £11.1m. The company is reporting a profit before tax for the 15 months to 31 December of £745k (6 months to 30 September 2024: £259k).

Principal risks and uncertainties

The company’s principal risks and uncertainties have been considered to be the credit worthiness of clients, pressure on margins from competition in the market, changeable material prices and overall uncertainties in the construction sector generally.

Development and performance

In a challenging market of world economy, all our staff have gone above and beyond during the period and this has continue the successful development of the company with good market positioning supported by continued investment which has allowed us to secure good contracts some of which have long term benefit for the company.

The financial position remains strong, with net assets of over £3 million (30 September 2024: £2.6m). Throughout the period the company has invested in over £3million of additional plant and equipment.

While financial performance should always be a key concern, the focus on vision and values and on creating sustainable value for all our stakeholders has sustained Eastern Concrete Ltd as a recognisable brand in East Anglia.

Key performance indicators

The key performance indicators on which the directors primarily focus are considered to be turnover, gross profit, EBITDA, aged debtor days, creditor levels including hire purchase balances. These are monitored on an ongoing basis and particularly within the quarterly management accounts.

On behalf of the board

Mr T G Baker
Director
6 August 2026
EASTERN CONCRETE LIMITED
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 2 -

The director presents his annual report and financial statements for the period ended 31 December 2025.

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.

Principal activities

The principal activity of the company continued to be that of ready mix concrete manufacture.

Results and dividends

The results for the period are set out on page 8.

The directors recommend a dividend of £150,000 (2024: £Nil).

Director

The director who held office during the period and up to the date of signature of the financial statements was as follows:

Mr T G Baker
Financial instruments
Treasury operations and Financial Instruments

The company’s financial instruments comprise cash, invoice finance facility, hire purchase facilities and other items such as trade debtors and creditors arising directly from operations. The main objectives of the company’s policy towards its financial instruments is to maximise returns on cash balances, manage working capital requirements, maintain an excellent relationship with creditors and the company’s bankers, and finance ongoing operations.

The directors’ policy is to maintain a strong capital base to underpin the future development of the business. Operations are financed through invoice finance and the management of working capital. Major capital projects are financed in part through the use of hire purchase facilities.

Market risk

We do not expect any dramatic change in the current market conditions in the forthcoming period.

Interest rate risk

Uncertainty around future interest rates movements is a risk we have to manage to the best of our ability.

Foreign currency risk

The directors consider that the company has very limited exposure to foreign exchange volatility with very few transactions outside of pound sterling. On this basis the company does not require a structured hedging policy.

Credit risk

The company undertakes credit references before credit facilities are provided. The company maintains a good level of credit control to ensure credit terms are not exceeded by an unacceptable time and to reduce the risk of bad debts.

Future developments

The company is looking to continue providing a high level of service to its customers, by providing highest quality concrete at competitive prices, delivered to site in a safe and timely fashion.

EASTERN CONCRETE LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 3 -
Auditor

On 1 September 2025 our auditors, Ensors Accountants LLP, merged with Azets Audit Services Limited. Accordingly Ensors Accountants LLP formally resigned as the company's auditors with the directors duly appointing Azets Audit Services Limited, trading as Ensors to fill the vacancy arising. The auditor Azets Audit Services Limited, trading as Ensors will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Statement of disclosure to auditor

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.

On behalf of the board
Mr T G Baker
Director
6 August 2026
EASTERN CONCRETE LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 4 -

The director is responsible for preparing the annual report 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; and

- 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 them 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.

EASTERN CONCRETE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF EASTERN CONCRETE LIMITED
- 5 -
Opinion

We have audited the financial statements of Eastern Concrete Limited (the 'company') for the period ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity 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 31 December 2025 and of its profit for the period 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is 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 director's r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

EASTERN CONCRETE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF EASTERN CONCRETE LIMITED (CONTINUED)
- 6 -
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 identifie d material misstatements in the strategic report or the director's r eport.

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 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 director's r esponsibilities s tatement, 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 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 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.

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.

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.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

Our audit was designed to include tests of detail together with an assessment of the control environment to enable us to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement due to fraud. This included work on areas where we consider there is a higher risk of fraud including revenue recognition, management override of systems and control, transactions with related parties, commitments and contingencies and accounting estimates.

We also obtained an understanding of the legal and regulatory framework that the company operates in, through discussions with the directors and other management, and from our own knowledge and experience of the sector.

EASTERN CONCRETE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF EASTERN CONCRETE LIMITED (CONTINUED)
- 7 -

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company are complying with the legal and regulatory framework both at the planning stage and reminded to remain alert throughout the audit;

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

- audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud;

- reviewed and challenged accounting estimates to ensure no indication of management bias.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

Barry Gostling (Senior Statutory Auditor)
For and on behalf of Ensors, Statutory Auditor
Chartered Accountants
Connexions
159 Princes Street
Ipswich
IP1 1QJ
12 August 2026
EASTERN CONCRETE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 8 -
Period ended
Period ended
31 December
30 September
2025
2024
Notes
£
£
Turnover
3
30,005,203
11,128,158
Cost of sales
(25,316,298)
(9,532,214)
Gross profit
4,688,905
1,595,944
Administrative expenses
(3,510,431)
(1,183,945)
Other operating income
7,501
15,586
Operating profit
4
1,185,975
427,585
Interest receivable and similar income
7
1,174
2,045
Interest payable and similar expenses
8
(441,788)
(170,440)
Profit before taxation
745,361
259,190
Tax on profit
9
(187,144)
(67,937)
Profit for the financial period
558,217
191,253

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

EASTERN CONCRETE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 9 -
31 December 2025
30 September 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
7,923,828
6,907,903
Current assets
Stocks
12
369,432
307,345
Debtors
13
4,074,394
3,425,396
Cash at bank and in hand
314,104
273,899
4,757,930
4,006,640
Creditors: amounts falling due within one year
14
(6,075,958)
(5,747,950)
Net current liabilities
(1,318,028)
(1,741,310)
Total assets less current liabilities
6,605,800
5,166,593
Creditors: amounts falling due after more than one year
15
(2,455,197)
(1,611,351)
Provisions for liabilities
Deferred tax liability
17
1,114,015
926,871
(1,114,015)
(926,871)
Net assets
3,036,588
2,628,371
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
3,036,488
2,628,271
Total equity
3,036,588
2,628,371

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 6 August 2026
Mr T G Baker
Director
Company registration number 04362402 (England and Wales)
EASTERN CONCRETE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2024
100
2,437,018
2,437,118
Period ended 30 September 2024:
Profit and total comprehensive income
-
191,253
191,253
Balance at 30 September 2024
100
2,628,271
2,628,371
Period ended 31 December 2025:
Profit and total comprehensive income
-
558,217
558,217
Dividends
10
-
(150,000)
(150,000)
Balance at 31 December 2025
100
3,036,488
3,036,588
EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Eastern Concrete Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stowmarket Business Park, Ernest Nunn Road, Stowmarket, IP14 2ED.

1.1
Reporting period

The company has prepared financial statements for a fifteen month period, and as a result the comparative amounts presented within these financial statements are not entirely comparable.

1.2
Accounting convention

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 a mounts 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Baker Family Holdings Limited being the smallest and largest group of which consolidated accounts are drawn up. These consolidated financial statements are available from its registered office, Stowmarket Business Park, Ernest Nunn Road, Stowmarket, Suffolk, IP14 2ED.

1.3
Going concern

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

1.4
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Income is recognised when the concrete is either delivered to or collected by the customer.

1.5
Tangible fixed assets

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

EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

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:

Plant and machinery
3 to 7 years straight line
Motor vehicles
1.5 to 7 years straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

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

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.

EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Other financial assets

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.

Impairment of financial assets

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.

Derecognition of financial assets

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.

Classification of financial liabilities

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

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 paymen ts 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. A m ounts 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.

EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Other financial liabilities

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 s ubsequently 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 th r ough 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.

Derecognition of financial liabilities

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

1.10
Equity instruments

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.

1.11
Taxation

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

Current 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

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.

1.12
Employee benefits

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.

1.13
Retirement benefits

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

EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

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 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.

Key sources of estimation uncertainty

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.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing assets lives, factors such as asset life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the assets and projected disposal values.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Concrete and related sales
30,005,203
11,128,158
2025
2024
£
£
Other revenue
Interest income
1,174
2,045
EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 16 -
4
Operating profit
2025
2024
Operating profit for the period is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
10,500
10,625
Depreciation of tangible fixed assets
1,392,391
362,196
Profit on disposal of tangible fixed assets
(2,280)
(4,387)
Operating lease charges
265,589
91,830
5
Employees

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

2025
2024
Number
Number
Directors
1
1
Fitters
7
6
Drivers and batchers
65
53
Office
26
20
Technical
4
3
Total
103
83

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
4,752,696
1,748,222
Social security costs
504,933
169,015
Pension costs
115,193
44,710
5,372,822
1,961,947
6
Director's remuneration
2025
2024
£
£
Remuneration for qualifying services
83,471
32,949
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
1,174
2,045
EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 17 -
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
186,102
76,622
Other interest
255,686
93,818
441,788
170,440
9
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
187,144
67,937

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

2025
2024
£
£
Profit before taxation
745,361
259,190
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
186,340
64,798
Effects of:
Expenses that are not deductible in determining taxable profit
764
2,707
Adjustments in respect of prior years
40
432
Taxation charge in the financial statements
187,144
67,937
10
Dividends
2025
2024
£
£
Interim paid
150,000
-
0
EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 18 -
11
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 October 2024
2,918,191
9,510,739
12,428,930
Additions
389,533
2,623,974
3,013,507
Disposals
(401,243)
(1,820,399)
(2,221,642)
At 31 December 2025
2,906,481
10,314,314
13,220,795
Depreciation and impairment
At 1 October 2024
1,517,225
4,003,802
5,521,027
Depreciation charged in the period
220,557
1,171,834
1,392,391
Eliminated in respect of disposals
(401,243)
(1,215,208)
(1,616,451)
At 31 December 2025
1,336,539
3,960,428
5,296,967
Carrying amount
At 31 December 2025
1,569,942
6,353,886
7,923,828
At 30 September 2024
1,400,966
5,506,937
6,907,903

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2025
2024
£
£
Plant and machinery
1,861,051
1,114,842
Motor vehicles
4,238,303
2,944,947
6,099,354
4,059,789
12
Stocks
2025
2024
£
£
Raw materials and consumables
369,432
307,345
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,705,305
3,291,072
Other debtors
19,867
-
0
Prepayments and accrued income
1,349,222
134,324
4,074,394
3,425,396
EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 19 -
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
16
1,253,867
869,274
Trade creditors
2,856,275
2,926,241
Amounts owed to undertakings in which the company has a participating interest
110,702
-
0
Taxation and social security
379,791
299,188
Other creditors
1,475,323
1,653,247
6,075,958
5,747,950

The hire purchase creditors are secured on the specifically financed asset.

Included within other creditors is £1,423,213 (31 March 2024: £1,547,046) which is secured by an all assets debenture.

15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
16
2,455,197
1,611,351
Creditors which fall due after five years are payable as follows:
Payable by instalments
7,240
8,701

The hire purchase creditors are secured on the specifically financed asset.

16
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
1,253,867
869,274
After more than one year
2,455,197
1,611,351
3,709,064
2,480,625
EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
16
Finance lease obligations
(Continued)
- 20 -
2025
2024
Future minimum lease payments due:
£
£
Within one year
1,557,628
1,017,025
In two to five years
2,589,928
1,755,974
In over five years
86,881
8,751
4,234,437
2,781,750
Less: future finance charges
(525,373)
(301,125)
3,709,064
2,480,625

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is five years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

17
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
1,902,289
1,676,099
Tax losses
(788,274)
(749,228)
1,114,015
926,871
2025
Movements in the period:
£
Liability at 1 October 2024
926,871
Charge to profit or loss
187,144
Liability at 31 December 2025
1,114,015
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
115,193
44,710

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.

EASTERN CONCRETE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 21 -
19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
20
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
750,000
1,653,750

Included within capital commitments is £750,000 (2024 September: £29,750) which has been recognised within debtors.

21
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

At the year end the company owed £60,000 to the director (30 September 2024: £58,383) in respect of the interest free, repayable on demand loan accounts.

The company has provided the bank a guarantee of £1,015,000 (30 September 2024: £1,015,000) in respect of the borrowings of its parent company.

Other information

The director has taken advantage of the exemptions available under FRS 102 to not disclose balances or transactions with wholly owned members of the group.

During the year the company had sales of £Nil (30 September 2024: £Nil) and purchases of £1,702,620 (30 September 2024: £697,806) with other related parties.

At the balance sheet date, the company owed £110,702 (30 September 2024: £249,249) to other related parties.

22
Ultimate controlling party

The parent company of Eastern Concrete Limited is Baker Family Holdings Limited and its registered office is Stowmarket Business Park, Ernest Nunn Road, Stowmarket, Suffolk, IP14 2ED.

There is no ultimate controlling party by virtue of no one shareholder owning more than 50% of the shares in the parent company.

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