The directors present the strategic report for the period ended 31 December 2025.
Stenball Holdings Limited acquired 100% of the share capital of Stenball Limited on 21 July 2025 as part of a Management Buy-In whereby this newly incorporated company is owned in varying proportions by the previous shareholders of Stenball Limited plus the family companies of two of the directors, M Brown and S Kitney.
The group continues to focus on its main trading activity of specialist fit-out, refurbishment and building main contractors, primarily operating in the leisure and hospitality sectors throughout the UK.
The results of the period reflect the increase in the trading activities of the main trading subsidiary Stenball Group Limited, which improved due to the gaining of new customers. The increase in activity levels were broadly based across the group's customers and the group remains focused on projects within the leisure and hospitality sectors.
Prior to acquisition, the main trading subsidiary took the difficult decision to restructure it's Special Works department following a period of under-performance. The performance of this department in the current period was particularly negative. The directors are very focused on ensuring that this department returns to delivering projects to the levels of client delivery, quality and financial performance we expect of ourselves and Stenball.
The directors are pleased with the performance for the period, which reflects the continuing dedication, commitment and hard work of all the staff and workers in the group.
The group continues to trade with its existing clients and to seek new opportunities. This remains important, as we remain concerned about the macro-economic situation in the UK having an impact on the sectors we primarily operate in.
The group has had success in recruiting suitable additional members for our Project Teams, which has supported the main trading subsidiary's growth in the period. To support the group in the future, we continue to recruit and to invest in our staff. The efforts of all staff during the period are recognised and the Board are very aware of this and the need to recruit and retain the right people is a priority.
The principal risks facing the group are as follows:
A loss of reputation as a first-class provider of specialist services;
Staff retention and recruitment in an extremely competitive environment;
Input cost increases for both materials and labour resulting in pressure on margins.
We are highly confident of the business going forward, albeit we believe that the current macro-economic situation may continue to have an impact on activity levels. We are continuing to seek new clients to offset any spend reduction from existing clients.
The key performance indicators for the group are as follows:
Completion of projects to agreed programme and quality
Health and safety performance
Client satisfaction and retention
Staff retention and engagement
Turnover;
Gross profit margin;
Completion of projects to agreed programme and quality
The group primarily operates in the leisure and hospitality sectors and it is essential for all of our clients that our works are completed to the agreed timescales and quality. Our total focus is on always achieving this for our clients. We do so with our highly committed workforce and supply chain.
Health and safety performance
This is equally essential to us, for the protection of our workers and to prevent breaches of legislation that may impact on our ability to continue to operate.
Health & Safety is involved at the planning stage of each project and a detailed plan prepared, which is submitted for approval to our client’s H & S team prior to commencement on site. Once work has commenced we, and our client H & S teams visit sites to audit our H & S performance and compliance.
The group invests heavily in training of our staff to ensure the standards and quality of our health & safety performance.
Client satisfaction and retention
We operate in partnership with our clients on a long-term basis. It is essential that our clients are satisfied with our performance and so we continue to remain on their contractor list. This guarantees future work for us and working repeatedly with our clients means that we fully understand their requirements and are best able to meet these.
Staff Retention and engagement
We can only deliver the completed projects for our clients by everyone who works in the group being committed. Without staff that are pro-active, enthusiastic and dedicated this would be very difficult.
It is crucial to our business that we retain our existing staff and recruit additional staff as and when required. We do this by developing and training our staff, by offering career paths for promotion to meet aspirations and by ensuring our staff are highly engaged with the group and its clients. The engagement is the responsibility of everyone in the group and it is our culture that everyone’s voice and opinion is important, is heard and taken notice of.
By order of the Board
The directors present their annual report and financial statements for the period ended 31 December 2025.
Stenball Holdings Limited acquired 100% of the share capital of Stenball Limited on 21 July 2025 as part of a Management Buy-In whereby this newly incorporated company is owned in varying proportions by the previous shareholders of Stenball Limited plus the family companies of two of the directors, M Brown and S Kitney.
The group continues to focus on its main trading activity of specialist fit-out, refurbishment and building main contractors, primarily operating in the leisure and hospitality sectors throughout the UK.
The results of the period reflect the increase in the trading activities of the main trading subsidiary Stenball Group Limited, which improved due to the gaining of new customers. The increase in activity levels were broadly based across the group's customers and the group remains focused on projects within the leisure and hospitality sectors.
Prior to acquisition, the main trading subsidiary took the difficult decision to restructure it's Special Works department following a period of under-performance. The performance of this department in the current period was particularly negative. The directors are very focused on ensuring that this department returns to delivering projects to the levels of client delivery, quality and financial performance we expect of ourselves and Stenball.
The directors are pleased with the performance for the period, which reflects the continuing dedication, commitment and hard work of all the staff and workers in the group.
The group continues to trade with its existing clients and to seek new opportunities. This remains important, as we remain concerned about the macro-economic situation in the UK having an impact on the sectors we primarily operate in.
The group has had success in recruiting suitable additional members for our Project Teams, which has supported the main trading subsidiary's growth in the period. To support the group in the future, we continue to recruit and to invest in our staff. The efforts of all staff during the period are recognised and the Board are very aware of this and the need to recruit and retain the right people is a priority.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
Cheesmans were appointed as auditor to the group 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.
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
We have audited the financial statements of Stenball Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial period 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to the Employment Law, Health & Safety Law and UK tax legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journals to increase revenue or reduce expenditure, management bias in accounting estimates and estimates and cash sales not being reported correctly. Audit procedures performed by the engagement team included:
Discussions with management in respect of known or suspected instances of non-compliance with laws and regulation and fraud, and review of board minutes and internal reports;
Challenging the assumptions and judgements made by management in their significant accounting estimates, in particular those that involve the assessment of future events, which are inherently uncertain – the key estimates determined in this respect are those relating to the value of accrued income and accrued costs on contracts, those relating to the value of accrued income and accrued costs, those relating to provisions, those relating to stock;
Reviewing journal entries, unusual account combinations, such as those with unusual or unexpected journal postings to the profit and loss as well as journals which contain unusual words;
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also the risk of not detecting 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 collusion.
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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £212,711.
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
Stenball Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 1 Heyworth Business Park, Old Portsmouth Road, Peasmarsh, Guildford, Surrey, GU3 1AF.
The group consists of Stenball Holdings Limited and all of its subsidiaries.
The company was incorporated on 16 April 2025. The financial statements therefore cover the period from 16 April 2025 to 31 December 2025 and relate to a period of less than one year.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company Stenball Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates, from the date of acquisition on 21 July 2025.
All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of building and refurbishment works is recognised by reference to the stage of completion; when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates, subcontractors and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the parent company financial statements, investments in associates are accounted for at cost less impairment.
Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income is recognised on a straight line basis.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Where an amount has not resulted in a sales invoice being raised at the balance sheet date relating to works carried out within the period, accrued income is recognised within the Financial Statements. This requires the directors to estimate the value of works to be invoiced after the period by using their professional expertise.
Recoverability of the accrued income is considered at the time of valuing the works undertaken and where this is considered an issue, relevant provisions are accordingly made and are regularly assessed as new information becomes available.
At the balance sheet date, the directors assess works to date and accrue for any costs for work undertaken but not invoiced by suppliers in the Financial Statements. This requires the directors to estimate the value of the works undertaken.
At the balance sheet date, the directors assessed the provisions held in the financial statements in respect of potential future economic outflows. In quantifying the provision the estimated economic outflow was calculated utilising the directors' knowledge of prior claims and applying a percentage to the potential liability reflecting the directors' best estimate of the likelihood of a settlement being required. This estimate will be continually assessed as and when new information becomes available to the directors.
The average monthly number of persons (including directors) employed by the group and company during the period was:
Their aggregate remuneration comprised:
The actual charge for the period can be reconciled to the expected charge/(credit) for the period based on the profit or loss and the standard rate of tax as follows:
Details of the company's subsidiaries at 31 December 2025 are as follows:
Registered office addresses (all UK unless otherwise indicated):
The amounts due re taxation & social security have been agreed to be paid at the rate of £30,000 (less interest) per month with effect from 1 July 2023. Interest is charged at 3.60% p.a.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
The deferred tax liability set out above is expected to reverse within 4 years and relates to accelerated capital allowances that are expected to mature within the same period.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
On 21 July 2025 the group acquired 100% percent of the issued capital of Stenball Limited.
There is a fixed and floating charge under the terms of which amounts due to National Westminster Bank Plc are secured on the assets of Stenball Group Limited. There have been no instances in the year or to date whereby the obligations under this debenture have been breached and therefore this debenture is not currently enforceable.
There is a fixed and floating charge with Lloyds Bank Plc under the terms of which amounts due to Lloyds Bank Plc are secured on the assets of Stenball Group Limited. There have been no instances in the year or to date whereby the obligations under this debenture have been breached and therefore this debenture is not currently enforceable.
Stenball Limited has given a performance guarantee in respect of a related company. The directors consider it extremely unlikely that any liability will arise, the project being scheduled to complete in early April 2026.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: