Company registration number 05372315 (England and Wales)
LIFE BUILD SOLUTIONS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
LIFE BUILD SOLUTIONS LTD
COMPANY INFORMATION
Directors
K M Adams
M S Wilde
J P G Papworth
(Appointed 20 July 2026)
Secretary
M S Wilde
Company number
05372315
Registered office
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE
Auditor
BK Plus Audit Limited
Oakingham House
Frederick Place
High Wycombe
Buckinghamshire
HP11 1JU
LIFE BUILD SOLUTIONS LTD
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Profit and loss account
9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 26
LIFE BUILD SOLUTIONS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Introduction

The principal activity of the company continues to be new build, fit out and refurbishment projects, always providing value, reliability and high-quality workmanship. This year, we continued to maintain a high level of repeat business with 80% of our construction turnover coming from our loyal clients and consultants. LIFE Build has a strong, reputable and widely recognized brand identity which continues to result in enquiries from a broad spectrum of notable clients.

LIFE Build undertakes projects from £1m to £30m, with the level of care and service excellence that our clients deserve. The company operates from headquarters in High Wycombe and our area of operation includes Bedfordshire, Berkshire, Buckinghamshire, Hampshire, Hertfordshire, London, Oxfordshire and Surrey. We will, on occasion, work beyond this area for our established clients.

We work hard to take client’s concerns away, knowing that their experience through the process is as important as a great outcome with regard to time, budget and quality. It's our mission to create client relationships for LIFE.

Review of the business

The results of the Company for the year are set out on pages 9 to 1 3.

Revenue generated for the period totalled £39.5m (2024: £39.1m), with significant revenue growth expected in 2026.

2025 was for LIFE Build a year of continued stability. We recognised the challenges of an evolving environment and continued to execute our strategic business plan in order to overcome the significant challenges, both within the construction sector and across the global markets. Despite these difficult trading conditions, our team has continued to respond with resilience and adaptability. These experiences have continued to strengthen our internal processes, encouraged innovation, and positioned us to emerge stronger as market conditions improve. We continue to focus on long-term sustainability and are confident in our ability to navigate any issues encountered in a changing business landscape.

Gross profit percentage for the period remained similar at 14.7% (2024: 14.8%), reflecting targeted controls across our projects and business. We have continued to engage with our staff, continued to improve in our management controls, promoted key members of staff and developed reporting procedures that have, and will continue to assist us in the growth and prosperity of the business.

Operating profit increased to £706k (2024: £377k). The three principal markets in which LIFE Build operates continue to be affected by reduced funding, rising costs and changes in tax regulation. Despite these challenges, the outlook for 2026 and beyond is very encouraging, with strong project performance increasingly resulting in negotiated contracts and repeat business.

The company maintained a healthy liquidity position at year-end, with a current ratio of 1.31 (2024: 1.39) and a quick ratio of 1.23 (2024: 1.29). These figures reflect the continued stability of the business and our consistent focus on effective cash management, supporting the company’s overall strong financial position.

Our commitment to paying the supply chain promptly has enabled LIFE Build to maintain strong relationships, trust and loyalty with our partners, while also giving clients confidence in our ability to deliver projects successfully.

Reflecting the company’s strong performance during the year, together with the contribution to the Employee Ownership Trust, closing net assets increased to £4.6 million (2024: £4.5 million).

The directors are satisfied with the financial performance for the year-ended 31 December 2025, as the company’s financial position remains robust and the liquidity ratios remain strong.

LIFE BUILD SOLUTIONS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Principal risks and uncertainties

The Directors were satisfied with the results for 2025 considering the continuing challenging conditions that the construction industry faces. We are excited about our business plans for the future, with a strong senior management team and dedicated staff throughout the business. We are embracing change and always mindful that the client comes first. LIFE Build is aware of the fragility in the markets and the potential downturn in economic activities. However, we have the flexibility and expertise to work in a tighter economy without impacting our ability to deliver. Our order book secured for 2026 and 2027 gives us the confidence that there is opportunity in our marketplace for continued positive results.

The nature of the sector in which the company operates means that Health and Safety risks are a key area of focus, and the company continues to concentrate on the management of Health and Safety risks through training, procedures and controls. Keeping our workforce safe from harm is of utmost importance. The Accident Frequency Rate is one of our Key Performance Indicators (KPIs) and is calculated as No of reportable accidents / Total number hrs worked) x 100,000. In 2025 the rate for reportable accidents was 0 (2024 – 0).

In respect of financial risks, LIFE Build continues to implement excellent management processes, with our key performance indicators evidencing our sound management principles.

The company's robust liquidity position, absence of bank debt, and consistently positive cash reserves reflect our commitment to prudent financial management. These strengths enable us to respond flexibly to market opportunities, invest in growth initiatives and reassure stakeholders about our long-term financial stability.

We at LIFE Build realise that one of our strengths is our staff. We concentrate on competitive remuneration packages to ensure our staff feel valued. We have created a positive workplace culture, fostering a supportive, inclusive and a collaborative environment, which continues to encourage loyalty and a sense of belonging. Career development, a work-life balance and open communication reinforce our partnership with our staff. Our clients, consultants and supply chain all benefit from our approach to our staff.

The market has presented and continues to present challenges and risks to the construction industry. Our business plan and ethos since the inception of LIFE Build has always been to ensure a balanced portfolio of work streams. LIFE Build has always looked to be flexible in its approach to business. However, we recognise that being prudent with our choice of partners has been critical to our wellbeing.

The competitive market continues to provide opportunity and risks, with our strong management processes and experienced staff enabling us to identify the right projects. “Project Backlog” continues to put pressure on the industry. Repeat business, loyal clients and a healthy pipeline continues to be essential to our continued performance. We are aware that frameworks, procurement and how we communicate with our Partners is evolving and we ensure we look for continuous improvement.

Our choice of clients and their ability to pay and our supply chain and their ability to deliver are considered on every project. Credit checks, references, insurances, guarantees and warranties are sought to protect against every eventuality.

Regulatory changes, new government policies, changes in building codes, or tax law can create uncertainty and affect the timing or viability of our projects. We continue to ensure that we identify the associated risks, train our staff and develop control processes that enable LIFE Build to respond accordingly.

Financial key performance indicators

Profitability ratio:

Gross profit % = 14.7% (2024: 14.8%)

Operating profit % = 1.8% (2024: 1%)

Liquidity ratio:

Current ratio = 1.31 (2024: 1.39)

Quick ratio, excluding stock = 1.23 (2024: 1.29)

LIFE BUILD SOLUTIONS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

Future Developments

Skill enhancement at LIFE Build is ongoing with training programs that help our staff to stay up to date with industry standards, regulations, and technological advances.

Staff retention and motivation is key to LIFE Build. Innovation and efficiency training continues to be implemented. This continues to stimulate fresh thinking and has empowered our staff to identify more efficient ways of working, which continues to contribute to our future business plans.

Succession planning continues to be key to our business and our focus on development strategies has ensured there is a pipeline of talent ready to step into key roles.

We recognise the power and the value of our staff and our investments and commitment to long-term training, staff retention and succession planning is key to our sustainable growth and our business plans for the future.

On behalf of the board

K M Adams
Director
24 August 2026
LIFE BUILD SOLUTIONS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of the construction of domestic and commercial buildings.

Results and dividends

The results for the year are set out on page 9.

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:

K M Adams
M S Wilde
J P G Papworth
(Appointed 20 July 2026)
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Auditor

BK Plus Audit Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

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.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
K M Adams
Director
24 August 2026
LIFE BUILD SOLUTIONS LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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.

LIFE BUILD SOLUTIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LIFE BUILD SOLUTIONS LTD
- 6 -
Opinion

We have audited the financial statements of Life Build Solutions Ltd (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, 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 United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the 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 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.

LIFE BUILD SOLUTIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LIFE BUILD SOLUTIONS LTD (CONTINUED)
- 7 -
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.

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.

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

From the preliminary stage of the audit, we ensure our understanding of the entity is up to date. This includes, but is not limited to, current knowledge of their activities, the business and control environments, and their compliance with the applicable legal and regulatory frameworks. This information supports our risk identification and the subsequent design of audit procedures to mitigate those risks; ensuring that the audit evidence obtained is sufficient and appropriate to support our opinion.

In response to the risks identified, specific to this entity, we designed procedures which included, but were not limited to:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;

- Reviewing minutes of meetings of those charged with governance, if available;

- Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

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

LIFE BUILD SOLUTIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LIFE BUILD SOLUTIONS LTD (CONTINUED)
- 8 -

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusions. There is always the unavoidable risk that material misstatements in the financial statements may not be detected despite the audit being properly performed in accordance with UK Auditing standards.

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.

David Hynes (Senior Statutory Auditor)
24 August 2026
For and on behalf of BK Plus Audit Limited
Statutory Auditor
Oakingham House
Frederick Place
High Wycombe
Buckinghamshire
HP11 1JU
LIFE BUILD SOLUTIONS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
39,452,733
39,075,847
Cost of sales
(33,648,940)
(33,309,481)
Gross profit
5,803,793
5,766,366
Administrative expenses
(5,098,021)
(5,389,564)
Other operating income
643
-
0
Operating profit
4
706,415
376,802
Interest receivable and similar income
8
105,772
105,004
Profit before taxation
812,187
481,806
Tax on profit
9
(206,640)
(43,838)
Profit for the financial year
605,547
437,968

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

LIFE BUILD SOLUTIONS LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
£
£
Profit for the year
605,547
437,968
Other comprehensive income
-
-
Total comprehensive income for the year
605,547
437,968
LIFE BUILD SOLUTIONS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
876,196
835,114
Current assets
Stocks
11
896,288
896,288
Debtors falling due within one year
12
5,024,599
5,930,435
Cash at bank and in hand
9,181,536
5,359,103
15,102,423
12,185,826
Creditors: amounts falling due within one year
13
11,533,692
8,753,636
Net current assets
3,568,731
3,432,190
Non-current assets
Trade debtors
12
809,056
805,354
Total assets less current liabilities
5,253,983
5,072,658
Creditors: amounts falling due after more than one year
14
(562,404)
(473,456)
Provisions for liabilities
Deferred tax liability
15
87,938
83,608
(87,938)
(83,608)
Net assets
4,603,641
4,515,594
Capital and reserves
Called up share capital
16
10,000
10,000
Revaluation reserve
378,890
378,890
Profit and loss reserves
4,214,751
4,126,704
Total equity
4,603,641
4,515,594
The financial statements were approved by the board of directors and authorised for issue on 24 August 2026 and are signed on its behalf by:
K M Adams
Director
Company registration number 05372315 (England and Wales)
LIFE BUILD SOLUTIONS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
10,000
378,890
4,723,736
5,112,626
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
437,968
437,968
Contribution to employee ownership trust
-
-
(1,035,000)
(1,035,000)
Balance at 31 December 2024
10,000
378,890
4,126,704
4,515,594
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
605,547
605,547
Contribution to employee ownership trust
-
-
(517,500)
(517,500)
Balance at 31 December 2025
10,000
378,890
4,214,751
4,603,641
LIFE BUILD SOLUTIONS LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
23
4,393,772
(4,725,224)
Income taxes paid
(79,736)
(486,377)
Net cash inflow/(outflow) from operating activities
4,314,036
(5,211,601)
Investing activities
Purchase of tangible fixed assets
(79,875)
(99,787)
Interest received
105,772
105,004
Net cash generated from investing activities
25,897
5,217
Financing activities
Contribution to employee ownership trust
(517,500)
(1,035,000)
Net cash used in financing activities
(517,500)
(1,035,000)
Net increase/(decrease) in cash and cash equivalents
3,822,433
(6,241,384)
Cash and cash equivalents at beginning of year
5,359,103
11,600,487
Cash and cash equivalents at end of year
9,181,536
5,359,103
LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
1
Accounting policies
Company information

Life Build Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 40 Oxford Road, High Wycombe, Buckinghamshire, HP11 2EE.

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.

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 except for freehold property which is stated at valuation. The principal accounting policies adopted are set out below.

1.2
Going concern

The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Strategic Report and the Directors' Report together with a summary of the key business risks the Company faces. The directors believe that the Company is well placed to manage its business risks successfully, and to maintain positive cash flows for the foreseeable future.true

At the year end, the Company had net current assets of £3,568,731 and generated a profit of £605,547. The cash flow forecasts indicate that, even when considering the current economic and housing market climate, the higher-than-average inflation, the cost-of-living pressures, the Company will have sufficient funds to meet its operational liabilities as they fall due. The Company’s cash reserves on signing of the financial statements is approximately £8.2m.

Based on this and expected cash flows based on financial forecasts, the Directors believe the Company to be a going concern in that it will continue to operate for a period of no less than 12 months from the signing date of these financial statements. As such, the going concern basis has been adopted in preparing these financial statements.

1.3
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Revenue represents the value of work done during the financial period net of value added tax. The value of work done is calculated as certified work, plus the amount anticipated to be certified, adjusted for over and under measure. Revenue and costs are recognised by reference to the stage of completion, with reference to expected contract timescale and costs incurred to date.

Where it is probable that contract costs will exceed total contract revenue, the expected future loss is recognised as an expense immediately and a provision for losses on contracts is recognised as a component of creditors.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -

Amounts due on contracts at the year-end are recognised to the extent they have been invoiced in trade debtors and any accrual for uncertified work is included in prepayments and accrued income.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Freehold land and buildings
Not depreciated
Leasehold improvements
Over 7 years
Fixtures and fittings
33% straight line
Computers
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

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

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.6
Stocks

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

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

1.7
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

1.8
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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Increases in provisions are generally charged as an expense to profit or loss.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

1.14
Leases

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

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
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.

Revenue and margin recognition

In accordance with FRS 102, management is required to estimate both the total expected costs of a contract and the stage of completion to determine the appropriate recognition of revenue and profit. The Company has implemented formal control and review mechanisms to systematically monitor and assess the reliability and appropriateness of these estimates. This process includes regular reviews of independently certified valuations of work completed, progress tracking against contractual timelines, and comparison of actual costs incurred with budgeted figures.

Valuation of freehold property

The carrying amount of freehold property is based on a professional valuation performed by a qualified and independent valuer.

The most recent valuation was carried out in 2019. Management considers this valuation to remain appropriate based on their knowledge of the property, current market conditions, and the absence of any significant indicators of impairment. However, given the inherent subjectivity involved in property valuations and changes in market conditions over time, the actual realisable value may differ from the carrying amount.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Contract sales
39,452,733
39,075,847
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
39,452,733
39,075,847
2025
2024
£
£
Other revenue
Interest income
105,772
105,004
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Depreciation of tangible fixed assets
38,793
44,752
Operating lease charges
37,500
25,000
LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
15,750
15,000
For other services
Taxation compliance services
2,505
2,250
All other non-audit services
1,955
1,900
4,460
4,150
6
Employees

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

2025
2024
Number
Number
Directors
2
2
Administrative
48
56
Total
50
58

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
4,681,561
5,268,919
Social security costs
476,060
448,250
Pension costs
436,000
497,204
5,593,621
6,214,373
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
125,628
113,456
Company pension contributions to defined contribution schemes
200,000
235,350
325,628
348,806

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
7
Directors' remuneration
(Continued)
- 21 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
74,882
57,298
Company pension contributions to defined contribution schemes
100,000
117,675
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
105,631
104,860
Other interest income
141
144
Total income
105,772
105,004
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
105,631
104,860
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
202,310
79,735
Adjustments in respect of prior periods
-
0
(43,230)
Total current tax
202,310
36,505
Deferred tax
Origination and reversal of timing differences
4,330
7,333
Total tax charge
206,640
43,838
LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
(Continued)
- 22 -

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

2025
2024
£
£
Profit before taxation
812,187
481,806
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
203,047
120,452
Expenses that are not deductible in determining taxable profit
4,055
-
0
Research and development tax credit
-
0
(14,490)
Tax under/(over) provided in prior years
-
0
(46,871)
(Credit)/ charge in respect of expense timing difference
(462)
(15,253)
Taxation charge in the financial statements
206,640
43,838
10
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost or valuation
At 1 January 2025
725,000
90,088
42,701
278,152
1,135,941
Additions
60,916
-
0
-
0
18,959
79,875
Disposals
-
0
-
0
(28,166)
(69,143)
(97,309)
At 31 December 2025
785,916
90,088
14,535
227,968
1,118,507
Depreciation and impairment
At 1 January 2025
-
0
12,870
39,106
248,851
300,827
Depreciation charged in the year
-
0
12,870
2,250
23,673
38,793
Eliminated in respect of disposals
-
0
-
0
(28,166)
(69,143)
(97,309)
At 31 December 2025
-
0
25,740
13,190
203,381
242,311
Carrying amount
At 31 December 2025
785,916
64,348
1,345
24,587
876,196
At 31 December 2024
725,000
77,218
3,595
29,301
835,114

Within the Freehold L and and B uildings above is freehold land with a carrying amount of £785,916 which is not depreciated. The land was acquired for £346,111 and revalued to £725,000 on 31 December 2019.

The directors have reviewed the carrying value at year end and are of the opinion this has not materially changed.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
11
Stocks
2025
2024
£
£
Stocks
896,288
896,288
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,893,438
2,432,646
Customer retention
1,606,157
1,831,084
Other debtors
46,471
45,694
Prepayments and accrued income
1,478,533
1,621,011
5,024,599
5,930,435
2025
2024
Amounts falling due after more than one year:
£
£
Customer retention
809,056
805,354
Total debtors
5,833,655
6,735,789
13
Creditors: amounts falling due within one year
2025
2024
£
£
Accrued job costs
4,386,246
2,786,022
Trade creditors
4,520,598
2,645,305
Supplier retention
1,345,972
1,667,655
Corporation tax
202,309
79,735
Other taxation and social security
725,579
1,210,448
Other creditors
28,977
32,748
Accruals and deferred income
324,011
331,723
11,533,692
8,753,636

On 27 October 2021 and 10 January 2022, charges were created over the company's freehold property and stock in respect of debts owed by the Life Build Employee Ownership Trust.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
14
Creditors: amounts falling due after more than one year
2025
2024
£
£
Supplier retention
562,404
473,456
15
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
14,696
19,552
Revaluations
84,062
84,062
Expense timing differences
(10,820)
(20,006)
87,938
83,608
2025
Movements in the year:
£
Liability at 1 January 2025
83,608
Charge to profit or loss
4,330
Liability at 31 December 2025
87,938
16
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
17
Reserves

Revaluation reserve

The revaluation reserve is the amount of property revaluation.

Profit and loss reserve

The profit and loss reserve represents the cumulative profit and loss, net of contributions to the employee ownership trust paid and other adjustments.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
436,000
497,204

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.

19
Operating lease commitments

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:

2025
2024
£
£
Within one year
37,500
37,500
Years two to five
200,000
187,500
After five years
-
0
50,000
237,500
275,000
20
Financial commitments, guarantees and contingent liabilities

Life Build Solutions Ltd has committed to financially support the funding of the acquisition of its shares by the Life Build Employee Ownership Trust. Any funds made available will be out of surplus profits and subject to the current and future cash flow requirements of Life Build Solutions Ltd.

Life Build Solutions Ltd had commitments to Life Build Employee Ownership Trustees Limited totalling £13,305,000 at 31 December 2025 (2024: £13,822,500).

21
Related party transactions

At the year-end, a balance of £128 (2024: £3,612) was owed to a company under common control.

Directors are considered key management personnel and their remuneration is disclosed in note 7.

22
Controlling party

The immediate and ultimate controlling party of the company is the Life Build Employee Ownership Trust, an employee ownership trust which holds the beneficial interest in a controlling stake in the company for the benefit of its employees. Legal title to the shares is held by its corporate trustee, Life Build Employee Ownership Trustees Limited.

LIFE BUILD SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
23
Cash generated from/(absorbed by) operations
2025
2024
£
£
Profit after taxation
605,547
437,968
Adjustments for:
Taxation charged
206,640
43,838
Investment income
(105,772)
(105,004)
Depreciation and impairment of tangible fixed assets
38,793
44,752
Movements in working capital:
Decrease in debtors
902,134
1,881,179
Increase/(decrease) in creditors
2,746,430
(7,027,957)
Cash generated from/(absorbed by) operations
4,393,772
(4,725,224)
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