Company registration number 00714476 (England and Wales)
CHISHOLM & WINCH (CONTRACTS) LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Baker Clarke FDV Limited
Chartered Certified Accountants
Swiss House
Beckingham Street
Tolleshunt Major
Essex
CM9 8LZ
CHISHOLM & WINCH (CONTRACTS) LTD
COMPANY INFORMATION
Directors
Mr A K Winch
Mr J P Winch
Mrs A M Winch
(Appointed 9 March 2026)
S J Ellingham
(Appointed 1 January 2026)
Mr D Godfrey
(Appointed 1 October 2025)
Mr R Cowell Jones
(Appointed 1 October 2025)
Secretary
Mr A K Winch
Company number
00714476
Registered office
7 Conqueror Court
Spilsby Road
Harold Hill
Romford
Essex
RM3 8SB
Auditor
Baker Clarke FDV Limited
Swiss House
Beckingham Street
Tolleshunt Major
Essex
CM9 8LZ
Accountants
Baker Clarke FDV Limited
Swiss House
Beckingham Street
Tolleshunt Major
Essex
CM9 8LZ
CHISHOLM & WINCH (CONTRACTS) LTD
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Statement of income and retained earnings
6
Balance sheet
7
Statement of cash flows
8
Notes to the financial statements
9 - 15
CHISHOLM & WINCH (CONTRACTS) LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2026.

Principal activities

The principal activity of the company continued to be that of construction of other civil engineering projects.

Directors

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

Mr A K Winch
Mr S J Castle
(Resigned 28 May 2026)
Mr J P Winch
Mrs A M Winch
(Appointed 9 March 2026)
S J Ellingham
(Appointed 1 January 2026)
Mr D Godfrey
(Appointed 1 October 2025)
Mr R Cowell Jones
(Appointed 1 October 2025)
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 A K Winch
Director
12 August 2026
CHISHOLM & WINCH (CONTRACTS) LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -

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

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

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

- select suitable accounting policies and then apply them consistently;

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

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

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

CHISHOLM & WINCH (CONTRACTS) LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHISHOLM & WINCH (CONTRACTS) LTD
- 3 -
Opinion

We have audited the financial statements of Chisholm & Winch (Contracts) Ltd (the 'company') for the year ended 31 March 2026 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

CHISHOLM & WINCH (CONTRACTS) LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHISHOLM & WINCH (CONTRACTS) LTD (CONTINUED)
- 4 -
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 directors' 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 directors' remuneration specified by law are not made; or

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

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

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

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the director and our previous knowledge of the company. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102 Section 1A. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of lnterex Limited are revenue recognition and management override. The directors' confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing the incoming resources and those areas susceptible to management override including testing manual journals and making enquiries of management.

CHISHOLM & WINCH (CONTRACTS) LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHISHOLM & WINCH (CONTRACTS) LTD (CONTINUED)
- 5 -

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

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.

Baker Clarke FDV Limited - (Statutory Auditor)
Chartered Certified Accountants
Swiss House
Beckingham Street
Tolleshunt Major
Essex
CM9 8LZ
12 August 2026
CHISHOLM & WINCH (CONTRACTS) LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
Year ended
Year ended
31 March
31 March
2026
2025
Notes
£
£
Turnover
33,031,517
16,904,446
Cost of sales
(29,283,575)
(14,320,300)
Gross profit
3,747,942
2,584,146
Administrative expenses
(3,449,849)
(2,317,997)
Operating profit
298,093
266,149
Interest receivable and similar income
18,070
10,429
Interest payable and similar expenses
(16,950)
(21,302)
Profit before taxation
299,213
255,276
Tax on profit
4
(80,430)
(69,358)
Profit for the financial year
218,783
185,918
Retained earnings brought forward
1,015,988
930,070
Dividends
-
0
(100,000)
Retained earnings carried forward
1,234,771
1,015,988

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

CHISHOLM & WINCH (CONTRACTS) LTD
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 7 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
5
28,017
16,481
Tangible assets
6
50,065
54,147
78,082
70,628
Current assets
Debtors
7
4,281,480
7,486,435
Cash at bank and in hand
3,373,161
73,165
7,654,641
7,559,600
Creditors: amounts falling due within one year
8
(6,377,952)
(6,487,573)
Net current assets
1,276,689
1,072,027
Total assets less current liabilities
1,354,771
1,142,655
Creditors: amounts falling due after more than one year
9
-
0
(6,667)
Net assets
1,354,771
1,135,988
Capital and reserves
Called up share capital
10
120,000
120,000
Profit and loss reserves
1,234,771
1,015,988
Total equity
1,354,771
1,135,988

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

The financial statements were approved by the board of directors and authorised for issue on 12 August 2026 and are signed on its behalf by:
Mr A K Winch
Director
Company registration number 00714476 (England and Wales)
CHISHOLM & WINCH (CONTRACTS) LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
Year ended
Year ended
31 March 2026
31 March 2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
14
3,566,381
(115,162)
Interest paid
(16,950)
(21,302)
Income taxes paid
(69,337)
(77,837)
Net cash inflow/(outflow) from operating activities
3,480,094
(214,301)
Investing activities
Purchase of intangible assets
(29,664)
(24,721)
Purchase of tangible fixed assets
(21,838)
(11,223)
Interest received
18,070
10,429
Net cash used in investing activities
(33,432)
(25,515)
Financing activities
Repayment of bank loans
(46,667)
(40,000)
Dividends paid
(100,000)
-
0
Net cash used in financing activities
(146,667)
(40,000)
Net increase/(decrease) in cash and cash equivalents
3,299,995
(279,816)
Cash and cash equivalents at beginning of year
73,165
352,981
Cash and cash equivalents at end of year
3,373,161
73,165
CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 9 -
1
Accounting policies
Company information

Chisholm & Winch (Contracts) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Conqueror Court, Spilsby Road, Harold Hill, Romford, Essex, RM3 8SB.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
Over 3 years
1.4
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.

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 equipment
25% reducing balance method
Fixtures and fittings
20% straight line method
Computers
25% reducing balance method
Motor vehicles
25% reducing balance method

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.

CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 10 -
1.5
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.

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.

1.6
Cash at bank and in hand

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.

1.7
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.

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.

CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 11 -
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.

1.8
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
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.

1.10
Retirement benefits

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

2
Judgements and key sources of estimation uncertainty

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

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

CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
3
Employees

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

2026
2025
Number
Number
Total
29
27
4
Taxation
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
80,514
69,358
Adjustments in respect of prior periods
(84)
-
0
Total current tax
80,430
69,358
5
Intangible fixed assets
Other
£
Cost
At 1 April 2025
42,131
Additions
29,664
At 31 March 2026
71,795
Amortisation and impairment
At 1 April 2025
25,650
Amortisation charged for the year
18,128
At 31 March 2026
43,778
Carrying amount
At 31 March 2026
28,017
At 31 March 2025
16,481
CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 13 -
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2025
243,445
Additions
21,838
At 31 March 2026
265,283
Depreciation and impairment
At 1 April 2025
189,298
Depreciation charged in the year
25,920
At 31 March 2026
215,218
Carrying amount
At 31 March 2026
50,065
At 31 March 2025
54,147
7
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade and contract debtors
3,952,384
7,001,851
Other debtors
329,096
484,584
4,281,480
7,486,435
8
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
-
0
40,000
Trade creditors
5,035,586
5,905,330
Amounts owed to group undertakings
451,918
201,918
Corporation tax
80,451
69,358
Other taxation and social security
116,094
88,061
Other creditors
693,903
182,906
6,377,952
6,487,573
9
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
-
0
6,667
CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 14 -
10
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
120,000
120,000
120,000
120,000
11
Secured Debts

Bank borrowing is secured by a mortgage debenture on all group company assets and a cross guarantee between group companies.

Included in creditors is an amount due to Charente Holdings Ltd of £Nil (202 5: £200,000) which is secured by a debenture dated 16th September 2014.

12
Related party transactions

During the year rent of £81,354 (202 5: £78,984) was paid to Charente Holdings Limited.

13
Parent company

The company's ultimate controlling party, is its parent company Charente Holdings Limited, which is incorporated in the United Kingdom.

14
Cash generated from/(absorbed by) operations
2026
2025
£
£
Profit after taxation
218,783
185,918
Adjustments for:
Taxation charged
80,430
69,358
Finance costs
16,950
21,302
Investment income
(18,070)
(10,429)
Amortisation and impairment of intangible assets
18,128
12,594
Depreciation and impairment of tangible fixed assets
25,920
22,665
Movements in working capital:
Decrease/(increase) in debtors
3,204,955
(4,403,530)
Increase in creditors
19,286
3,986,960
Cash generated from/(absorbed by) operations
3,566,382
(115,162)
CHISHOLM & WINCH (CONTRACTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 15 -
15
Analysis of changes in net funds
1 April 2025
Cash flows
31 March 2026
£
£
£
Cash at bank and in hand
73,165
3,299,996
3,373,161
Borrowings excluding overdrafts
(46,667)
46,667
-
26,498
3,346,663
3,373,161
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