Company registration number 03308698 (England and Wales)
SINDEN CONSTRUCTION LIMITED
ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
SINDEN CONSTRUCTION LIMITED
COMPANY INFORMATION
Directors
G Sinden
S T McMahon
S J Wood
Company number
03308698
Registered office
137-145 Church Road
Harold Wood
Romford
Essex
RM3 0SH
Auditor
Xeinadin Audit Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT
Business address
137-145 Church Road
Harold Wood
Romford
Essex
RM3 0SH
SINDEN CONSTRUCTION LIMITED
CONTENTS
Page
Strategic report
1 - 5
Directors' report
6 - 8
Independent auditor's report
9 - 11
Income statement
12
Statement of comprehensive income
13
Statement of financial position
14 - 15
Statement of changes in equity
16
Statement of cash flows
17
Notes to the financial statements
18 - 35
SINDEN CONSTRUCTION LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The directors present the strategic report for the year ended 31 March 2026.

Change of company name

On 18 th June 2026 the Company was renamed from Thomas Sinden Limited to Sinden Construction Limited. This change was implemented as part of a wider re-branding to better communicate to our customers who we are and what we can do for them.

Review of the business

The detailed results and financial position of the Company are as set out in the financial statements below.

Our chosen markets remain very active, enabling us to continue to be selective in what we bid for. Our strategy of building good long term relationships with customers continues to pay off, with a large proportion of our work coming from repeat business, and an increasing volume secured through pre-construction services agreements and negotiation.

We maintain resilience in our work profile through the diversity of sectors in which we operate, including: education, residential, healthcare, heritage, commercial, blue light, community and leisure. We have capability to undertake projects from under £1m up to circa £50m. During the year we established a dedicated management and tendering team for our Specialist Works team who undertake projects up to £2m.

The Building Safety Act Gateway process has this year continued to affect timescales for getting Higher Risk Buildings (HRBs) to site, but we are now starting to see some movement in unlocking these projects.

We continue to invest in our information technology and management systems to provide best in class tools to our project teams, remove inefficient manual processes and allow our staff to focus on value adding activities.

Trading this year at £66.6m was a slight increase on last year.

Our Board continue to focus on controlled and sustainable growth to dilute our fixed overhead costs, resulting in an improvement to net margins. Our existing management team have capability to take turnover to £100m with only marginal increase to overhead.

The rate of construction business failures throughout the year has remained high. Through a selective and rigorous approach to bidding, coupled with diligent attention to delivery, we have achieved a pre-tax profit margin of 3.3%.

Our cash position has further strengthened during the year with year end net cash of £13.6m. A £4m loan to fund the corporate restructure undertaken in 2021 was paid off during the year, 17 months early.

We continue to pay our supply chain promptly, frequently paying before the due date. We recognise the importance of this to ensure that we maintain excellent relationships with our supply chain partners, who are key to our ability to deliver schemes meeting customer time, cost and quality objectives.

We have seen a further shift towards procurement by clients via two stage negotiation. We see this as a positive thing for both us and our clients as we are better able to assess and manage risk by being brought onto the project earlier, which in turn enables us to provide the client with greater certainty around delivery and cost at the point of entering into the construction contract.

Two stage negotiation involves more up front work by our delivery teams which yields reduced turnover during the pre-construction phase, which typically lasts 3-12 months depending on the scope and complexity of the project and whether Building Safety Regulator gateway approvals need to be obtained. As a result of the number of two stage negotiations awarded towards the end of 2025/26 we expect to see a slight dip in turnover for 2026/27, followed by a significant step up in 2027/28, nonetheless the outlook for the coming year is positive with a strong order book.

SINDEN CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
Principal risks and uncertainties

Principal Risks to our business are categorised as follows, together with brief details of the mitigation measures we employ against each risk:

- maintaining high levels of health and safety of our staff and subcontractors, mitigated through investment in training, our health and safety team, and maintaining industry leading processes

- uncertainty in the economic climate, including inflation and interest rates, mitigated through inclusion of risk allowances within contract prices

- continued supply of profitable work opportunities, mitigated through diversity of sectors in which we operate and sizes of project which we undertake

- capacity within the supply chain, mitigated through maintaining excellent relationships with our preferred suppliers, and ensuring we pay on time, so that we are their preferred client

- retention and recruitment of high calibre technical staff, mitigated by providing competitive remuneration and opportunities for training and development to provide job satisfaction

- client and subcontractor financial stability given the economic climate, mitigated through regular monitoring of financial metrics and putting in place financial security measures where possible, such as cross company guarantees and escrows.

- the threat of fraud and social engineering in light of the volume of cyber attacks that are taking place in the world mitigated through staff training and use of strong cyber security protocols.

Corporate Social Responsibility

Sinden recognise the responsibilities it has in reducing the impact we have on the environment through our operations and the opportunities we have to engage with Local Communities, promote Equality and Diversity, deliver real training and development initiatives and promote a safe working environment for our own workforce and other stakeholders on the projects we work on.

We promote Safety, Health, Environment and Quality through our company ethos and reinforced by our management systems which are ISO45001, ISO14001 and ISO9001 accredited.

The Directors have put in place a strategy for the business to achieve Net Zero by 2040, with targets and initiatives in place to monitor and reduce our carbon emissions from now until that goal is met.

Staff engagement, equality, diversity, training and development are all core values within our business, and these are reinforced through individual Personal Development Plans, regular reviews, an open-door policy to line managers and reinforced through our Investors in People Gold Accreditation.

Our dedicated Social Value Manager coordinates our engagement with the communities with whom we work. We are regularly involved in local employment, training and apprenticeship schemes, work with community groups, businesses and schools, use local suppliers wherever possible and ensure that we work with our clients to deliver sustainable buildings and leaving a positive legacy. During the year we have implemented a dashboard that enables us to drive procurement of local labour and track performance.

We are one of only a handful of platinum members of the 5% Club, which exists to promote the aim of employers reaching a target of 5% of their workforce being in apprenticeships, on graduate or formal training programmes or employed as sponsored students. Throughout the year we have had in excess of 10% of our workforce in 'earn and learn' roles. We remain committed to continued investment in developing the next generation of construction professionals.

We support a number of charities through staff and site organised events and ensure that all of our operations and activities are carried out in a considerate, sustainable and ethical manner.

SINDEN CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
Key performance indicators

We have set out below the KPI's we use to manage the business. Each of these KPI's are being reviewed and actively managed.

Site audit scores - sites are generally audited by the SHEQ team at least once per month and scores/trends analysed to provide feedback on performance and guide training

Energy, fuel and water usage and total carbon emissions - this is monitored per £1m of project value to ensure we are driving reduction in our environmental footprint

Completion of projects to time - monitored to ensure that we are driving to achieve or improve against client expectations.

Customer and consultant feedback - we monitor feedback received closely to highlight any potential improvements we can make to our delivery

Percentage of work from repeat customers - we monitor this to ensure that we are maintaining a strong pipeline of work built on long term relationships

Profitability - ongoing contracts are reviewed on monthly basis to ensure profitability is sufficient to cover overheads in the short to medium term and provide a reasonable return for our shareholders.

Cash flow Management - the cashflow is monitored on a rolling 12 month forward looking basis to ensure we have sufficient liquidity to cover our obligations in the short to medium term.

SINDEN CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
Section 172(1) Statement

Long term decisions and actions

The Company has a strong, driven Board of Directors with a significant level of experience in the construction industry. The Board meet on a monthly basis to discuss key aspects of the business including health and safety, operations, sales, finance and overall strategy. During these meetings the Board considers how decisions taken will affect key stakeholders of the business such as shareholders, employees, customers, suppliers, local communities, regulators and the wider environment.

The directors have acted and continue to act in a way that they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole.

The interests of our employees

At the year end the Company had 144 employees. The Board considers the Company's employees as the key asset of the business. The Company invests heavily in training and development of staff, which has been recognised through award of Platinum status by the 5% Club and Investors In People Gold accreditation. Wherever possible staff are promoted from within. Employees are encouraged to share their ideas to support continuous improvement of the business, and regular updates are provided to employees about what is happening across the Company via the Group 'TeamLink' intranet.

Given the nature of the Company's activities, health and safety is of paramount importance and regular updates, training and briefings are held with the workforce.

Engagement with suppliers, customers and the environment

Members of the Board and senior management team regularly meet with key suppliers and customers to enhance relationships and ensure the best interests of all parties are met. Our relationships with key suppliers are vitally important and are the responsibility of the Board and senior management. A key aspect of our supply chain policy is to ensure that suppliers are paid on time, or early, to ensure that we are a favoured customer.

The Board ensures that other stakeholders such as the Company's bankers and sureties are kept informed of the Company's activities through regular issue of management information and face to face meetings.

The Board recognise that a responsible business requires a firm commitment to protecting the environment and supporting local communities. The Board have prioritised procurement of renewable or zero-carbon energy contracts for its head office and key sites, installed electric vehicle charging facilities and invested in hybrid and electric vehicles. The Company undertakes a wide range of community support projects, including work placements, apprenticeships, school and university careers events, and prioritising local employment.

High standards of business conduct

The Company upholds high standards in the way it conducts its business, both in dealings with external stakeholders and in the way it treats its employees. The Board pride themselves on having highly skilled and motivated employees throughout the business. The Company is an equal opportunities employer with no barriers on age, sex, disability, religion or sexual orientation. Employees are judged on ability and application and are treated with respect, honesty, consistency and compassion.

The Company adheres to all relevant legislation and ensures robust business processes and procedures through its ISO 9001, 14001 and 45001 accreditations, which are independently audited by the British Standards Institute.

SINDEN CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -

On behalf of the board

G Sinden
Director
20 August 2026
SINDEN CONSTRUCTION LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -

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 a construction services provider, carrying out new build, refurbishment and fit out projects primarily across the following sectors:

- Residential

- Education

- Re-cladding and fire remediation

- Heritage

- Healthcare

- Commercial

- Blue light

- Community and leisure

We have established a reputation for delivering high quality projects for clients with a strong track record of working with local authorities, housing associations, charities and private sector clients.

We have developed strong teams, both internally and in partnership with our supply chain, to work collaboratively to deliver customer focussed solutions and quality driven projects under both traditional and design and build contract arrangements.

Results and dividends

The results for the year are set out on page 12.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

G Sinden
S T McMahon
S J Wood
Supplier payment policy

The company's current policy concerning the payment of trade creditors is to adhere to the Fair Payment Code published by The Office of the Small Business Commissioner, an independent public body established by the UK Government. A copy of the Code is available online at: https://www.smallbusinesscommissioner.gov.uk/new-fair-payment-code

The company's current policy concerning the payment of trade creditors is to:

- Agree payment terms with suppliers and put them in writing, before work begins, in clear plain English contracts

- Aim to avoid disputes and embed conflict avoidance mechanisms in contract management processes

- Pay in accordance with the company's contractual and other legal obligations

Trade creditors of the company at the year end were equivalent to 31 days purchases, based on the average daily amount invoiced by suppliers during the year.

Auditors

The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

SINDEN CONSTRUCTION LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
Energy and carbon report
2026
2025
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Electricity purchased
292,728
462,628
- Fuel consumed for transport and on-site use
284,465
621,119
577,193
1,083,747
2026
2025
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
-
-
- Fuel consumed for transport and on-site use
69.68
97.49
69.68
97.49
Scope 2 - indirect emissions
- Electricity purchased
1.61
27.66
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company
11.20
-
Total gross emissions
82.49
125.15
Intensity ratio
Tonnes CO₂e per full-time employee
0.59
0.86
Quantification and reporting methodology

Sinden calculates its greenhouse gas emissions (emissions) in line with GHG Protocol guidance. The company uses SmartWaste to monitor and record Scope 1, Scope 2 and selected Scope 3 emissions, covering key emissions sources, including:

- Electricity (both procured by Sinden and by the Client).

  - Emissions from electricity consumption are reported on using both market-based and location-based calculation methods, to align with GHG Protocol requirements.

- Fuel use (including for transport and plant, both procured by Sinden and by subcontractors).

This methodology ensures that energy consumption and associated emissions are measured accurately across the organisation’s operations, and reporting in accordance with GHG Protocol requirements, capturing both Scope 1 and 2 (over which Sinden has operational control over) and Scope 3 (which Sinden does not have operational control over).

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO₂e per full time employee, the recommended ratio for the sector.

SINDEN CONSTRUCTION LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
Measures taken to improve energy efficiency

During the 2025-2026 financial year, Sinden has implemented several key energy efficiency measures as part of its ongoing commitment to reducing emissions and improving energy performance across its operations.

During this period, the company has prioritised energy-efficient site accommodation, which, paired with renewable energy procurement, has significantly reduced energy requirements on sites and ultimately emissions.

The AI-integrated Measurable Energy ports that were installed in the company’s head office in the previous period continue to be optimised and in combination with the replacement of several air conditioning systems has resulted in decreases in the head office’s electricity consumption compared to last year.

Statement of directors' responsibilities

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 International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom. 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, International Accounting Standard 1 requires that directors:

- properly select and apply accounting policies;

- present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;

- provide additional disclosures when compliance with the specific requirements in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity's financial position and financial performance; and

- make an assessment of the company's ability to continue as a going concern.

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.

Statement of disclosure to auditor

Each director in office at the date of approval of this annual report confirms that:

- so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

- the director has taken all the steps that he / she ought to have taken as a director in order to make himself / herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

Information disclosed in the Strategic Report

Information on risks to the business and its future development is included in the Strategic Report.

On behalf of the board
G Sinden
Director
20 August 2026
SINDEN CONSTRUCTION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SINDEN CONSTRUCTION LIMITED
- 9 -
Opinion

We have audited the financial statements of Sinden Construction Limited (the 'company') for the year ended 31 March 2026 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity, 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 UK adopted international accounting standards.

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 UK adopted international accounting standards; 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 strategic report and the directors' r eport 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.

SINDEN CONSTRUCTION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SINDEN CONSTRUCTION LIMITED (CONTINUED)
- 10 -
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 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.

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.

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

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of the company of not complying with such laws and regulations, including fraud, where non-compliance could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting and tax legislation. In relation to the industry, this included health and safety and employment legislation.

The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified as follows:

- Review of the control environment

- Meeting key personnel responsible for specific functions relating to laws and regulations

- Review of legal fees incurred

- Agreeing the financial statement disclosures to underlying supporting documentation

- Reviewing the key accounting policies and estimates

To address the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness and evaluated the business rationale of significant transactions outside of the normal course of business.

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 and misrepresentation.

SINDEN CONSTRUCTION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SINDEN CONSTRUCTION LIMITED (CONTINUED)
- 11 -

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.

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.

Andrea Kaley FCA FCCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT
20 August 2026
SINDEN CONSTRUCTION LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
2026
2025
Notes
£
£
Revenue
5
66,613,750
65,245,868
Cost of sales
(59,854,224)
(58,486,455)
Gross profit
6,759,526
6,759,413
Other operating income
23,472
40,539
Administrative expenses
(4,978,963)
(4,708,245)
Operating profit
6
1,804,035
2,091,707
Investment revenues
11
473,820
191,935
Finance costs
12
(60,553)
(216,817)
Other gains and losses
10
(17,421)
-
0
Profit before taxation
2,199,881
2,066,825
Income tax expense
13
(118,722)
(579,900)
Profit and total comprehensive income for the year
27
2,081,159
1,486,925

The notes on pages 18 to 35 form part of these financial statements.

SINDEN CONSTRUCTION LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
- 13 -
2026
2025
£
£
Profit for the year
2,081,159
1,486,925
Other comprehensive income:
Total comprehensive income for the year
2,081,159
1,486,925

The notes on pages 18 to 35 form part of these financial statements.

SINDEN CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2026
31 March 2026
- 14 -
2026
2025
Notes
£
£
ASSETS
Non-current assets
Intangible assets
15
213,726
259,204
Property, plant and equipment
16
284,896
349,967
Right-of-use assets
16
116,925
244,478
Investments
17
351,300
602,300
Tax receivable
724,673
690,028
Other receivables
18
5,193,858
3,931,231
Deferred tax asset
23
-
0
184,000
6,885,378
6,261,208
Current assets
Trade and other receivables
18
17,525,365
18,637,374
Current tax recoverable
21,202
-
0
Cash and cash equivalents
13,570,986
10,216,339
31,117,553
28,853,713
Total assets
38,002,931
35,114,921
EQUITY
Called up share capital
25
22,000
22,000
Share premium account
26
73,898
73,898
Retained earnings
27
14,595,041
12,513,882
Total equity
14,690,939
12,609,780
LIABILITIES
Non-current liabilities
Borrowings
19
-
0
446,925
Lease liabilities
21
-
0
127,557
Deferred tax liabilities
23
11,000
-
0
11,000
574,482
Current liabilities
Trade and other payables
20
23,173,435
21,220,603
Current tax liabilities
-
0
14,448
Borrowings
19
-
0
451,105
Lease liabilities
21
127,557
244,503
23,300,992
21,930,659
Total liabilities
23,311,992
22,505,141
Total equity and liabilities
38,002,931
35,114,921

The notes on pages 18 to 35 form part of these financial statements.

SINDEN CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 15 -
The financial statements were approved by the board of directors and authorised for issue on 20 August 2026 and are signed on its behalf by:
G Sinden
Director
Company registration number 03308698 (England and Wales)
SINDEN CONSTRUCTION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 16 -
Share capital
Share premium account
Retained earnings
Total
£
£
£
£
Balance at 1 April 2024
22,000
73,898
11,026,957
11,122,855
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
1,486,925
1,486,925
Balance at 31 March 2025
22,000
73,898
12,513,882
12,609,780
Year ended 31 March 2026:
Profit and total comprehensive income
-
-
2,081,159
2,081,159
Balance at 31 March 2026
22,000
73,898
14,595,041
14,690,939

The notes on pages 18 to 35 form part of these financial statements.

SINDEN CONSTRUCTION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
- 17 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
1
3,106,593
8,830,180
Interest paid
(60,553)
(216,817)
Income taxes refunded/(paid)
5,983
(14,505)
Net cash inflow from operating activities
3,052,023
8,598,858
Investing activities
Purchase of intangible assets
(39,537)
-
0
Purchase of property, plant and equipment
(66,535)
(200,382)
Interest received
415,104
191,935
Dividends received
58,716
-
0
Net cash generated from/(used in) investing activities
367,748
(8,447)
Financing activities
Movement on group company loans
1,192,472
(1,189,517)
Movement on related party loans
(12,412)
(24,494)
Repayment of bank loans
(898,030)
(1,588,315)
Movement on directors' loans
(102,651)
(251,766)
Payment of lease liabilities
(244,503)
(129,949)
Net cash used in financing activities
(65,124)
(3,184,041)
Net increase in cash and cash equivalents
3,354,647
5,406,370
Cash and cash equivalents at beginning of year
10,216,339
4,809,969
Cash and cash equivalents at end of year
13,570,986
10,216,339

The notes on pages 18 to 35 form part of these financial statements.

SINDEN CONSTRUCTION LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 18 -
1
Cash generated from operations
2026
2025
£
£
Profit for the year before taxation
2,199,881
2,066,825
Adjustments for:
Finance costs
60,553
216,817
Investment income
(473,820)
(191,935)
Amortisation and impairment of intangible assets
85,014
80,401
Depreciation and impairment of property, plant and equipment
259,159
236,526
Movements in working capital:
Increase in trade and other receivables
(1,285,745)
(2,766,729)
Increase in trade and other payables
2,261,552
9,188,275
Cash generated from operations
3,106,594
8,830,180
2
Analysis of changes in net funds
1 April 2025
Cash flows
New leases
31 March 2026
£
£
£
£
Cash at bank and in hand
10,216,339
3,354,647
-
13,570,986
Borrowings excluding overdrafts
(898,030)
898,030
-
-
Lease liabilities
(372,060)
244,503
-
(127,557)
8,946,249
4,497,180
-
13,443,429
1 April 2024
Cash flows
New leases
31 March 2025
Prior year:
£
£
£
£
Cash at bank and in hand
4,809,969
5,406,370
-
10,216,339
Borrowings excluding overdrafts
(2,486,345)
1,588,315
-
(898,030)
Lease liabilities
(392,077)
129,949
(109,932)
(372,060)
1,931,547
7,124,634
(109,932)
8,946,249
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 19 -
3
Accounting policies
Company information

Sinden Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is 137-145 Church Road, Harold Wood, Romford, Essex, RM3 0SH. The company's principal activities and nature of its operations are disclosed in the directors' report.

The company is part of a group.

3.1
Accounting convention

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with the requirements of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

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 pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements

The financial statements contain information about Sinden Construction Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Sinden Holdings Limited, whose registered office address is at 137-145 Church Road, Harold Wood, Romford, Essex, RM3 0SH.

3.2
Going concern

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

3.3
Revenue

Other than investment income, the company derives its revenue from its activity as a multi-sector contractor within the construction industry.

Revenue from construction contracts is recognised in accordance with IFRS 15, Revenue from Contracts with Customers.

Revenue is recognised over time where the company has a right to payment for work p erformed to date. Progress towards completion is measured using an output method recognised by reference to the stage of completion relative to the total contract value, determined by cost valuation reports prepared on a regular basis. The contract value includes fixed consideration and variations to the extent that a significant reversal of revenue will not occur.

At the year-end date, amounts that have not been invoiced are treated as contract assets and amounts invoiced in advance of the stage completed are treated as contract liabilities. Expected losses on contracts are recognised immediately when identified.

SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
3
Accounting policies
(Continued)
- 20 -
3.4
Intangible 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.

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Software development - 5 years straight line

3.5
Property, plant and equipment

Property, plant and equipment 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:

Right of use assets
Over the remaining term of the lease
Leasehold improvements
10% on cost
Plant and equipment
4 years straight line
Computers
3 years straight line
Motor vehicles
25% on reducing balance

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 income statement.

3.6
Impairment of tangible and intangible assets

At each reporting 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.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

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.

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.

SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
3
Accounting policies
(Continued)
- 21 -
3.7
Cash and cash equivalents

Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents ar e short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an insignifican t risk of change in that cash value.

3.8
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year and any other tax required by statute.

Taxable profit differs from net profit as reported in the income statement 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 is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary 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 income statement, 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 when the company has 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.

3.9
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 inventories or non-current 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.

3.10
Retirement benefits

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

SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
3
Accounting policies
(Continued)
- 22 -
3.11
Leases

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

The right-of-use asset is subsequently adjusted for remeasurements of the lease liability and applies the relevant cost model, fair value model or revaluation model as set out within the accounting policies for the applicable asset class. Where the cost model is applied, the asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term, and is periodically reduced by impairment losses, if any.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The lease liability is measured at amortised cost using the effective interest method. It is re assessed at each financial period end to reflect lease modifications and any changes to the factors considered at initial measurement, as set out above. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

3.12

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.

Other financial liabilities, including loans, are measured at the transaction price and subsequently measured at amortised cost.

3.13

Fixed asset investments

Fixed asset investments comprise capital invested in a related LLP which is shown at historic cost and investments in wholly owned subsidiaries which are also shown at cost.

SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 23 -
4
Critical accounting estimates and judgements

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, if the revision affects only that period, or in the period of the revision and future periods if 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 outlined below.

i) The stage of completion and expected profit margins on long term contracts, which may impact the carrying value of contract assets and liabilities at the balance sheet date.

ii) The company has entered into a long term lease with a related-party landlord thereby creating a right of use asset and corresponding lease liability. The hypothetical rate of interest that the company would have to pay to borrow the necessary funds to purchase an asset similar to that which is being leased has been estimated at the rate the company's bankers would charge, having regard to the credit worthiness of the company.

5
Revenue
2026
2025
£
£
Revenue analysed by class of business
Construction projects
66,613,751
65,245,868

Revenue from contracts with customers

The revenue amount shown above represents amounts invoiced during the year, exclusive of VAT, plus the value of ongoing services for long term contracts, recognised by reference to the stage of completion determined by cost valuation reports prepared on a regular basis. Amounts that have not been invoiced are treated as contract assets and amounts invoiced in advance of the stage completed are treated as contract liabilities. All contracts are of a similar nature with no significant economic differences.

Contract balances

2026
2025
£
£
Receivables included in "Trade and other receivables"
1,234,940
2,241,261
6
Operating profit
2026
2025
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of property, plant and equipment
259,159
236,526
Amortisation of intangible assets (included within administrative expenses)
85,014
80,401
Cost of inventories recognised as an expense
59,854,224
58,486,455
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 24 -
7
Employees

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

2026
2025
Number
Number
Directors
3
3
Office staff
109
98
Site management and operatives
34
34
Total
146
135

Their aggregate remuneration comprised:

2026
2025
£
£
Wages and salaries
11,387,776
10,288,712
Social security costs
1,136,966
975,060
Pension costs
332,673
303,378
12,857,415
11,567,150
8
Directors' remuneration
2026
2025
£
£
Remuneration for qualifying services
415,917
524,060
Company pension contributions to defined contribution schemes
114,879
108,387
530,796
632,447

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2025 - 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2026
2025
£
£
Remuneration for qualifying services
136,003
242,681
Company pension contributions to defined contribution schemes
54,366
53,533
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 25 -
9
Auditor's remuneration
2026
2025
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
38,000
35,000
For other services
Under / (over) provision for prior year
-
0
(17,127)
Non audit work
21,750
15,400
Total non-audit fees
21,750
(1,727)
10
Other gains and losses
2026
2025
£
£
Investment in subsidiaries written off
(17,421)
-
11
Investment income
2026
2025
£
£
Interest income
Interest receivable
415,104
191,935
Other income
Dividends from shares in group undertakings
58,716
-
0
473,820
191,935
12
Finance costs
2026
2025
£
£
Interest payable
53,524
191,329
Interest on lease liabilities
7,029
25,488
Total interest expense
60,553
216,817
13
Income tax expense
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
157,373
-
0
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
13
Income tax expense
2026
2025
£
£
(Continued)
- 26 -
Deferred tax
Origination and reversal of temporary differences
195,000
579,900
Adjustment in respect of prior periods
(233,651)
-
0
(38,651)
579,900
Total tax charge
118,722
579,900

The charge for the year can be reconciled to the profit per the income statement as follows:

2026
2025
£
£
Profit before taxation
2,199,881
2,066,825
Expected tax charge based on a corporation tax rate of 25.00% (2025: 25.00%)
549,970
516,706
Effect of expenses not deductible in determining taxable profit
18,550
10,906
Income not taxable
(14,678)
-
0
Depreciation on assets not qualifying for tax allowances
21,010
(4,048)
Research and development tax credit
(311,535)
-
0
Utilisation of losses brought forward
(339,595)
(523,564)
Deferred tax
195,000
579,900
Taxation charge for the year
118,722
579,900

Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax represents the movement on the deferred tax asset in the year.

SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 27 -
14
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2026
2025
£
£
In respect of:
Fixed asset investments
1,000
-
Investments in subsidiaries
16,421
-
Recognised in:
Other gains and losses
17,421
-
15
Intangible assets
Software development
£
Cost
At 1 April 2024
402,007
At 31 March 2025
402,007
Additions - purchased
39,537
At 31 March 2026
441,544
Amortisation and impairment
At 1 April 2024
62,402
Charge for the year
80,401
At 31 March 2025
142,803
Charge for the year
85,014
At 31 March 2026
227,818
Carrying amount
At 31 March 2026
213,726
At 31 March 2025
259,204
At 31 March 2024
339,604
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 28 -
16
Property, plant and equipment
Right of use assets
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
765,320
260,878
67,033
223,502
163,267
1,480,000
Additions
-
0
-
0
62,084
112,151
136,079
310,314
At 31 March 2025
765,320
260,878
129,117
335,653
299,346
1,790,314
Additions
-
0
-
0
13,769
52,766
-
0
66,535
At 31 March 2026
765,320
260,878
142,886
388,419
299,346
1,856,849
Accumulated depreciation and impairment
At 1 April 2024
393,289
170,289
40,504
212,169
143,092
959,343
Charge for the year
127,553
21,323
18,683
28,378
40,589
236,526
At 31 March 2025
520,842
191,612
59,187
240,547
183,681
1,195,869
Charge for the year
127,553
21,323
29,166
52,203
28,914
259,159
At 31 March 2026
648,395
212,935
88,353
292,750
212,595
1,455,028
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
16
Property, plant and equipment
Right of use assets
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
£
(Continued)
- 29 -
Carrying amount analysed between owned assets and right-of-use assets
At 31 March 2026
Owned assets
-
47,943
54,533
95,669
86,751
284,896
Right-of-use assets
116,925
-
-
-
-
116,925
116,925
47,943
54,533
95,669
86,751
401,821
At 31 March 2025
Owned assets
-
69,266
69,930
95,106
115,665
349,967
Right-of-use assets
244,478
-
-
-
-
244,478
244,478
69,266
69,930
95,106
115,665
594,445
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 30 -
17
Investments
Current
Non-current
2026
2025
2026
2025
£
£
£
£
Investments in subsidiaries
-
0
-
0
1,300
2,300
Loans to subsidiaries
-
-
-
250,000
Investments in associates
-
0
-
0
350,000
350,000
-
0
-
0
351,300
602,300

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

TS Civil Engineering Limited
Registered office: 137-145 Church Road, Harold Wood, Romford, Essex, RM3 0SH
Nature of business: Dormant (formerly civil engineering)
Class of shares: Ordinary
Holding: 100%
2026
2025
£
£
Aggregate capital and reserves
1,000
100,483
Loss for the year
(40,767)
-
Sinden Developments Limited
Registered office: 137-145 Church Road, Harold Wood, Romford, Essex, RM3 0SH
Nature of business: Dormant (formerly building project developments)
Class of shares: Ordinary
Holding: 100%
2026
2025
£
£
Aggregate capital and reserves
501,389
501,389
Loss for the year
-
-
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 31 -
18
Trade and other receivables
Current
Non-current
2026
2025
2026
2025
£
£
£
£
Trade receivables
6,611,515
6,058,113
2,567,838
1,305,208
Contract assets
1,234,940
2,241,261
-
0
-
0
Amounts owed by group undertakings
7,491,284
8,741,471
-
-
Amounts owed by related parties
883,932
871,517
2,626,020
2,626,023
Other receivables
1,303,694
725,012
-
-
17,525,365
18,637,374
5,193,858
3,931,231
19
Borrowings
Current
Non-current
2026
2025
2026
2025
£
£
£
£
Borrowings held at amortised cost:
Bank loans
-
451,105
-
446,925

The company's bank has a debenture over the company's assets dated 30 June 2017, a personal guarantee from G Sinden and an unlimited cross guarantee between the company and other entities within the Sinden group.

20
Trade and other payables
2026
2025
£
£
Trade payables
5,143,603
4,182,438
Contract liabilities
14,626,084
13,825,128
Amounts owed to group undertakings
502,389
811,104
Social security and other taxation
2,103,068
1,847,130
Other payables
798,291
554,803
23,173,435
21,220,603
21
Lease liabilities
2026
2025
Net amounts due
£
£
Within one year
127,557
244,503
After more than one year
-
0
127,557
127,557
372,060
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
21
Lease liabilities
(Continued)
- 32 -
2026
2025
Maturity analysis of future lease payments
£
£
Within one year
129,800
251,532
In two to five years
-
129,800
Total undiscounted liabilities
129,800
381,332
Future finance charges and other adjustments
(2,243)
(9,272)
Lease liabilities in the financial statements
127,557
372,060

All lease liabilities are due to be settled within the next 12 months.

Other leasing information is included in note 22.
22
Other leasing information

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2026
2025
Non-cancellable operating leases
£
£
Within one year
129,800
267,402
Between two and five years
-
129,800
129,800
397,202
23
Deferred taxation
Liabilities
Assets
2026
2025
2026
2025
£
£
£
£
Deferred tax balances
11,000
-
0
-
0
184,000
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
23
Deferred taxation
(Continued)
- 33 -

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
Tax losses
Total
£
£
£
Asset at 1 April 2024
(14,000)
(749,900)
(763,900)
Deferred tax movements in prior year
Charge/(credit) to profit or loss
57,000
522,900
579,900
Asset at 1 April 2025
43,000
(227,000)
(184,000)
Deferred tax movements in current year
Charge/(credit) to profit or loss
(32,000)
227,000
195,000
Liability at 31 March 2026
11,000
-
0
11,000

The deferred tax liability comprises timing differences between depreciation charged and capital allowances claimed.

24
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
332,673
303,378

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.

25
Share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
20,900
20,900
20,900
20,900
Ordinary B of £1 each
1,100
1,100
1,100
1,100
22,000
22,000
22,000
22,000

The two classes of shares rank equally in all respects except each class has its own right to dividends.

26
Share premium account
2026
2025
£
£
At the beginning and end of the year
73,898
73,898
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 34 -
27
Retained earnings
2026
2025
£
£
At the beginning of the year
12,513,882
11,026,957
Profit for the year
2,081,159
1,486,925
At the end of the year
14,595,041
12,513,882
28
Related party transactions
Remuneration of key management personnel

During the year, a total of key management personnel compensation of £530,795 (2025: £632,447) was paid.

Other transactions with related parties

The company's subsidiaries comprise:

Sinden Developments Ltd

TS Civil Engineering Limited

There were no material transactions between the company and any of its subsidiaries during the year.

2026
2025
Amounts due to related parties
£
£
Subsidiaries
502,389
553,917
2026
2025
Amounts due from related parties
£
£
Parent company
7,491,284
8,734,284
Sinden Estates LLP
3,509,953
3,597,540
11,001,237
12,331,824
During the year the company received transfers from its parent of £1.24m.
The company is a member of Sinden Estates LLP. During the year, the company engaged in the following transactions with the LLP.
2026
2025
£
£
Rent paid in respect of trading premises
141,600
141,600
Interest charged on non-current loan
155,951
156,159
Management fee receivable
6,000
6,000
Profit share
11,621
11,732
SINDEN CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
28
Related party transactions
(Continued)
- 35 -
Other information

Amounts due from directors are shown in note 29.

29
Directors' transactions

The following advances and credits to a director subsisted during the years ended 31 March 202 6 and 31 March 202 5:

Advances
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
S T McMahon - Loan
3.75
155,244
-
3,009
158,253
G Sinden - Loan
3.75
250,000
72,931
26,711
349,642
405,244
72,931
29,720
507,895

There were no terms attached to the loan s and interest has been charged at the official rate.

30
Controlling party

The company's ultimate parent company is Sinden Holdings Limited, whose registered office is 137-145 Church Road, Harold Wood, Romford, RM3 0SH.

The company's ultimate controlling party is G Sinden.

31
Financial risk management

Liquidity Risk

Liquidity risk is the risk that the c ompany cannot meet its obligations as they fall due or can only do so at a cost. This is mitigated by maintaining a healthy cash position and ensuring there are sufficient cash resources to meet working capital requirements in the short to medium term using cashflow forecasts, w hich covers the costs and forecast revenue for a 6 - 12 month period. Note 21 includes a maturity analysis of lease liabilities.

Credit Risk

The company's main credit risk is client and subcontractor financial stability given the current economic climate. This is mitigated through regular monitoring of financial metrics and putting in place financial security measures where possible, such as cross company guarantees and escrows.

Price Risk

The company is subject to uncertainty in the economic climate in relation to inflation and interest rate changes. This is mitigated through inclusion of risk allowances within contract prices.

Capital Risk

The company's objectives when measuring capital are to safeguard its ability to continue as a going concern. The company is not subject to any externally imposed capital requirements.

Capital is regarded as total equity, as recognised in the statement of financial position.

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