The directors present the strategic report for the year ended 28 February 2026.
What We Do
SCS Building Solutions are specialists in the supply & installation of SFS, metal stud partitions / drylining, GRG encasements / profiles and suspended ceilings.
What We Aim to Achieve
As a company operating in the construction industry, we aim to deliver high quality work in a timely manner. We are focused on developing and empowering our employees and we strive to always work in a safe and sustainable way
Market Context
SCS Building Solutions currently operates as a subcontractor exclusively to Tier 1 Contractors. Demand for our services is closely linked to investment in new construction, refurbishment and infrastructure projects across the north of England.
Performance Analysis
The group has performed well in the year end February 2026 seeing an increase in turnover from the previous year.
| Feb-26 | Feb-25 |
Turnover | £21.4m | £19.0m |
Operating Profit | £0.9m | £1.7m |
Operating Profit Margin | 4.0% | 8.8% |
Overheads as a % of revenue | 13.6% | 13.9% |
Securing fixed or capped prices on materials has had a positive impact in maintaining budgeted costs on all projects.
Communicating clearly and regularly with the SCS subcontract operatives has ensured a reliable workforce across all SCS sites, ensuring that programme requirements are met.
Workforce
We employ approximately 35 directly employed members of staff. We have a low staff turnover with the current average staff retention of 7.81 years. Many existing senior staff members have been with the group for over 15 years and many site managers worked for the group as subcontractors prior to being employed full time by the SCS Group. We continue to invest in apprenticeships, management development and health & safety training to ensure our workforce has the skills to support future growth.
Supply Chain
We have a trusted network of suppliers and subcontractors who are aligned to our values and can help us deliver projects efficiently and to a high standard.
Technology and Innovation
The Group continues to invest in digital systems and technology to improve efficiency across all areas of the business. Construction management software, digital document control and wearable site imaging technology support project delivery, enabling the Group to manage projects more effectively while reducing administrative work.
Client relationships
We have formed long term relationships with many of our clients and continue to build relationships with new and existing clients.
Risks and Uncertainties
Government changes
A significant amount of construction work is driven by UK Government expenditure, in particular education and healthcare projects and therefore any reduction in this expenditure could adversely impact on SCS workflow. We have looked to mitigate this risk by ensuring we work on projects across a variety of sectors, including commercial and non-commercial. Alternatively, an increase in government spending could lead to a potential increase in workflow.
Poor Contract Selection
A failure to identify the risks of a project and what has been included within the contracts of work may lead to poor delivery and ultimately result in reputational damage and loss of opportunities. We have looked to mitigate this risk by employing an internal advisor to review our contracts.
Over reliance on clients
We aim to work for a varied range of Contractors to help spread risk. We are always looking to build new client relationships whilst maintaining relationships with our existing clients.
Financial Risk
Debtors remain relatively high as is expected in the industry. This is due to extended payment terms. The finance team and Board of Directors monitor cashflow daily to mitigate this risk. The Group also has in place Credit Insurance against our debtors, which provides comfort in a volatile market. Inflationary pressures on labour and material costs continue to present a risk to profitability. To mitigate this, the Group seeks to agree fixed or capped material prices with suppliers prior to commencement of projects wherever possible. The increasing reliance on digital systems exposes the Group to cyber security risks. Appropriate IT security measures and backups are in place to minimise this risk.
Key Personnel
The success of our business is dependant on the staff that we employ. We are focused on engaging with all our staff within the organisation to ensure that they continue to deliver high quality work. We carry out self and Director appraisals during annual reviews to ensure all staff are happy and motivated.
Health & Safety
The nature of the business means that employees and third parties are exposed to the potential Health and Safety risks, and management of these risks is critical. The company is committed to the HS&E and has formed a Health & Safety committee; our H&S Advisor carries out a monthly review of the health and safety measures in place on all our sites.
Maintaining and enhancing our resources
Staff
We develop our staff through training and mentoring to increase the skills and knowledge they require to maximise their potential and meet the needs of our markets. We create a safe working environment in which our employees work.
Client Relationships
Using our talented work force and high-quality supply chain we deliver safe, efficiently run, high quality projects that match our clients objectives. The relationships we build as a result increase the prospect of repeat business, which can have a positive impact on profitability and long-term growth.
Disciplined financial managements
We monitor our cash levels daily and foster good relationships with financial institutions.
Environmental, Social and Governance
The SCS Group is committed to environmental sustainability. We monitor CO2 emissions monthly through fuel usage monitoring and seek to reduce our environmental impact by providing electric or hybrid company vehicles, reducing waste, recycling plasterboard and participating in carbon offset programs. The Group also prioritises social responsibility by actively engaging with the communities in which we operate. The Board provides strategic direction, ensuring that our actions align with our core values and long-term objectives.
Future Direction:
To take the SCS group forward, the board continue to strive for efficiencies within the business. We have implemented computer software programmes for most functions within the business, which assist with day-to-day work and continue to advance year on year.
The group take time to review all material purchase orders for accuracy and ensure no over ordering is taking place. We aim to engage early with all manufacturers and suppliers to ensure material procurement is in place well ahead of site requirements.
We will continue to deal directly with subcontractors who can deliver the schemes that the group are working on, and ensure the group maintains the required labour levels to maintain programme.
Going forward, we aim to continue to produce high quality work and continue to play a part in improving infrastructure across the north of England.
On behalf of the board
The directors present their annual report and financial statements for the year ended 28 February 2026.
The results for the year are set out on page 9.
Ordinary interim dividends were paid amounting to £475,468 (2025 - £310,106). The directors do not recommend payment of a final dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
We have audited the financial statements of SCS Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2026 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for 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's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
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.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period
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 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.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The profit and loss account has been prepared on the basis that all operations are continuing operations.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £514,227 (2025 - £33,010 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
SCS Group Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Newmarket House, Aberford Road, Stanley, Wakefield, WF3 4AL.
The group consists of SCS Group Holdings Limited and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The 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. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 4 ‘Statement of Financial Position’: Reconciliation of the opening and closing number of shares;
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’: Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; 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 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The company has taken advantage of the disclosure exemptions of Section 33.1A of FRS 102 which permit it to not present details of its transactions with members of the group headed by SCS Group Holdings Limited where relevant group companies are all wholly owned.
The consolidated group financial statements consist of the financial statements of the parent company SCS Group Holdings Limited together with all entities controlled by the parent company (its subsidiaries).
All financial statements are made up to 28 February 2026. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes, except in respect of long term contracts, where turnover represents the sales value of work done in the year including estimates in respect of amounts not invoiced.
Revenue from contracts for the provision of building services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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 recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group 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.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities 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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 leased asset are consumed.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.
When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.
Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.
During the year retirement benefits were accruing to 4 directors (2025: 4) in respect of defined contributions pension scheme.
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
Amounts owed by group undertaking are unsecured, interest free and reapyable on demand.
Included within bank loans and overdrafts is an credit card facility totalling £167,018 (2025 - £141,801).
Also included within bank loans and overdrafts is a bank loan totalling £nil (2025 - £134,943). The loan was previously recognised for a term of five years and was repayable in 72 monthly instalments. The loan incurred interest at 9.40% per annum. Within the year, the loan balance was settled in full and hence the liability at the balance sheet date was £nil.
Bank loans and overdrafts are secured as detailed in note 16.
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
Each share is entitled to one vote in any circumstances.
Each share is entitled pari passu to dividend payments or any other distribution including on a winding up of the company.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Newmarket Pension Scheme
During the year, the company paid rent amounting to £37,020 (2025 - £58,010) to the pension scheme, in which Mr D L Friend, Mr P Flynn and Mr C I Scott, directors of the company, are trustees and members.
Advances or credits have been granted by the group to its directors as follows:
Details of the company's subsidiaries at 28 February 2026 are as follows:
The registered office address for each of the subsidiaries is the same as the parent company.
SCS Group Holdings Limited has, in accordance with s479C of the Companies Act 2006, provided a guarantee over the liabilities of its subsidiary SCS Special Projects Limited (company registration number 04212507; registered in England & Wales) which permits the subsidiary to not obtain an audit of its individual financial statements for the year ended 28 February 2026, in accordance with the exemptions conferred by s479A Companies Act 2006. The registered office of the subsidiary is Newmarket House, Aberford Road, Stanley, Wakefield, WF3 4AL.