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REGISTERED NUMBER: 08077938 (England and Wales)

| DANIEL CHARLES GROUP LIMITED |

| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 NOVEMBER 2025 |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Page |

Company Information | 1 |

Group Strategic Report | 2 |  | to |  | 3

Report of the Directors | 4 |

Report of the Independent Auditors | 5 |  | to |  | 7

Consolidated Income Statement | 8 |

Consolidated Other Comprehensive Income | 9 |

Consolidated Statement of Financial Position | 10 |

Company Statement of Financial Position | 11 |

Consolidated Statement of Changes in Equity | 12 |

Company Statement of Changes in Equity | 13 |

Consolidated Statement of Cash Flows | 14 |

Notes to the Consolidated Statement of Cash Flows | 15 |

Notes to the Consolidated Financial Statements | 16 |  | to |  | 29

DANIEL CHARLES GROUP LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 NOVEMBER 2025

| DIRECTORS: | D Ingall

| Mrs C M Heath

| Mrs J S Skelton

| REGISTERED OFFICE: | Honeywood Barn

| Honeyholes Lane

| Dunholme

| Lincoln

| Lincolnshire

| LN2 3SU

| REGISTERED NUMBER: | 08077938 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Sally-Anne Hurn FCA

| AUDITORS: | Duncan & Toplis Audit Limited, Statutory Auditor

| 4 Henley Way

| Doddington Road

| Lincoln

| Lincolnshire

| LN6 3QR

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2025

The directors present their strategic report of the company and the group for the year ended 30 November 2025.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  |

| £ |  | £ |  | £ |  | £ |  | £ |  |

Turnover |  | 25,679,888 |  | 29,231,505 |  | 28,289,217 |  | 28,054,422 |  | 22,418,918 |  |

Cost of sales |  | 21,011,570 |  | 24,259,338 |  | 23,510,683 |  | 22,766,598 |  | 18,813,277 |  |

Gross Profit |  | 4,668,318 |  | 4,972,167 |  | 4,778,534 |  | 5,287,464 |  | 3,605,641 |  |

Gross profit margin % |  | 18.18 |  | 17.00 |  | 16.89 |  | 18,85 |  | 16.08 |  |

Profit on ordinary activities before taxation |  | 636,492 |  | 1,335,121 |  | 853,323 |  | 2,062,178 |  | 1,449,154 |  |

% of profit on ordinary activities before taxation |  | 2.48 |  | 4.57 |  | 2.93 |  | 7.35 |  | 6.46 |  |

The group traded well during the year, maintaining stable business levels supported by its strong reputation and long-standing customer relationships. Turnover reduced during the year, reflecting wider economic conditions and increased customer caution when progressing projects. Gross profit margin improved compared with the previous two years; however, profit on ordinary activities before taxation reduced, primarily as a result of the lower turnover.

Looking ahead to 2026 and beyond, the Directors remain positive about the company's prospects and expect the business to continue performing well, supported by its strong operational foundation and established reputation in the market. The company has an extremely strong forward workload with both existing and new customers, and the Directors are confident that turnover will return to previous levels.

The group's operations and assets are well diversified and as such the levels of operational and other risks are considered by the Directors to be acceptable. The group does not have any material exposure to any high-risk markets or geographical areas.

Position at the balance sheet date

The Directors consider the group to be in a strong financial position at the financial position date, with accumulated reserves of approximately £9.47 million.

Management remains mindful of the competitive environment in which the group operates and recognises the importance of maintaining tight control over working capital.

Borrowings and Risk Management

The group's principal financial instruments comprise bank balances, trade creditors and trade debtors. These instruments are primarily used to finance the group's operations and to support capital investment in plant and machinery. The group's approach to managing other risks applicable to the financial instruments minimised the risk to a level that the Directors consider acceptable.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers, regular monitoring of outstanding receivables, including ageing analysis and credit limits and prompt follow-up on overdue accounts.

Trade creditors liquidity risk is managed by ensuring sufficient cash reserves are available to meet amounts due by continuous monitoring of cashflow and working capital requirements.

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The group is affected by a number of factors, the principal ones of which are:

- The group is exposed to the risk of negative developments in financial markets and the sectors in which it operates, either directly or through the impact on the group's bankers, suppliers or customers. These developments can result in recession, inflation, deflation, restrictions in the availability of credit, impact on demand from customers, problems in the supplier base, increases in financing costs or in the cost of utilities and raw materials. Such developments might increase operating costs, reduce revenues, lower asset values or result in the businesses being unable to meet in full its strategic objectives.

- The group operates in a competitive market. Inability to compete effectively on key factors such as price, product specification, quality and customer service can have an adverse effect on demand and profitability.

To manage and reduce the impact of these risks, the group has implemented the following measures:

- An organisational structure with clearly defined lines of responsibility and delegation of authority. There are established policies and procedures for the setting of corporate strategies; financial planning and budgeting; for information and reporting systems; for systems of operational and financial internal control; for assessment of risk; and for monitoring operations and performance.

- Management and staff who engage closely with customers and suppliers to ensure efficiency, responsiveness, and innovation. These strong working relationships and open communication channels help mitigate operational risk and promote stability.

- A recruitment and selection process to ensure employees are experienced and competent in their work. Ongoing training programs support staff in delivering high standards and adapting to customer needs.

FUTURE DEVELOPMENTS

The group's strategy is to pursue continued organic growth by leveraging its existing business model. The management team remains focused on enhancing operational efficiency, maintaining high service standards and strengthening relationships with existing clients. Investment will continue in key areas such as staff development, machinery, technology, and process improvement to support sustainable growth.

ON BEHALF OF THE BOARD:

D Ingall - Director

26 August 2026

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 NOVEMBER 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 November 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of land surveying, construction, quarrying of limestone and the supply of aggregates.

DIVIDENDS

The total distribution of dividends for the year ended 30 November 2025 will be £Nil.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2024 to the date of this report.

D Ingall

Mrs C M Heath

Mrs J S Skelton

Other changes in directors holding office are as follows:

P J Sidebottom ceased to be a director after 30 November 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 the group and of the profit or loss of the group 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;

- | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

D Ingall - Director

26 August 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

DANIEL CHARLES GROUP LIMITED

Opinion

We have audited the financial statements of Daniel Charles Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of 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 group's and of the parent company affairs as at 30 November 2025 and of the group's 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the 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

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

DANIEL CHARLES GROUP LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company 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 Statement of Directors' Responsibilities set out on page four, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly the group is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statement audit. This included the identification and testing of unusual material journal entries and challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These areas of uncertainty are disclosed in the accounting policies.

Secondly the group is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations and Employment laws.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included a review of the health and safety audits conducted within the year for any evidence of non-compliance, in addition to an assessment of the company's employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

DANIEL CHARLES GROUP LIMITED

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions or the override of internal controls.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Sally-Anne Hurn FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

26 August 2026

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 25,679,888 |  | 29,231,505 |  |

Cost of sales | 21,011,570 |  | 24,259,338 |  |

GROSS PROFIT | 4,668,318 |  | 4,972,167 |  |

Administrative expenses | 3,929,698 |  | 3,451,381 |  |

738,620 |  | 1,520,786 |  |

Other operating income | 114,825 |  | 52,697 |  |

OPERATING PROFIT | 5 | 853,445 |  | 1,573,483 |  |

Interest receivable and similar income | 7 | 37,135 |  | 28,701 |  |

890,580 |  | 1,602,184 |  |

Interest payable and similar expenses | 8 | 254,088 |  | 267,063 |  |

PROFIT BEFORE TAXATION | 636,492 |  | 1,335,121 |  |

Tax on profit | 9 | 241,974 |  | 356,190 |  |

PROFIT FOR THE FINANCIAL YEAR | 394,518 |  | 978,931 |  |

Profit attributable to:

Owners of the parent | 394,518 |  | 978,931 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 394,518 |  | 978,931 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 394,518 |  | 978,931 |  |

Total comprehensive income attributable to:

Owners of the parent | 394,518 |  | 978,931 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | (56,103 | ) | (67,324 | ) |

Tangible assets | 13 | 10,842,019 |  | 10,414,990 |  |

Investments | 14 | - |  | - |  |

10,785,916 |  | 10,347,666 |  |

CURRENT ASSETS

Stocks | 15 | 491,887 |  | 359,379 |  |

Debtors | 16 | 5,547,729 |  | 5,919,206 |  |

Cash at bank and in hand | 1,924,284 |  | 2,791,912 |  |

7,963,900 |  | 9,070,497 |  |

CREDITORS

Amounts falling due within one year | 17 | 5,235,465 |  | 6,734,296 |  |

NET CURRENT ASSETS | 2,728,435 |  | 2,336,201 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 13,514,351 |  | 12,683,867 |  |

CREDITORS

Amounts falling due after more than one year | 18 | (2,339,445 | ) | (2,022,361 | ) |

PROVISIONS FOR LIABILITIES | 22 | (1,702,339 | ) | (1,583,457 | ) |

NET ASSETS | 9,472,567 |  | 9,078,049 |  |

CAPITAL AND RESERVES

Called up share capital | 23 | 1 |  | 1 |  |

Capital redemption reserve | 24 | 1 |  | 1 |  |

Retained earnings | 24 | 9,472,565 |  | 9,078,047 |  |

SHAREHOLDERS' FUNDS | 9,472,567 |  | 9,078,049 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2026 and were signed on its behalf by:

D Ingall - Director

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

COMPANY STATEMENT OF FINANCIAL POSITION

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | - |  | - |  |

Tangible assets | 13 | 2,761,126 |  | 3,276,124 |  |

Investments | 14 | 423,207 |  | 423,207 |  |

3,184,333 |  | 3,699,331 |  |

CURRENT ASSETS

Debtors | 16 | 1,976,353 |  | 1,130,616 |  |

Cash at bank | 166,769 |  | 73,030 |  |

2,143,122 |  | 1,203,646 |  |

CREDITORS

Amounts falling due within one year | 17 | 1,866,965 |  | 1,065,747 |  |

NET CURRENT ASSETS | 276,157 |  | 137,899 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,460,490 |  | 3,837,230 |  |

CREDITORS

Amounts falling due after more than one year | 18 | (392,387 | ) | (650,250 | ) |

PROVISIONS FOR LIABILITIES | 22 | (243,266 | ) | (230,900 | ) |

NET ASSETS | 2,824,837 |  | 2,956,080 |  |

CAPITAL AND RESERVES

Called up share capital | 23 | 1 |  | 1 |  |

Capital redemption reserve | 24 | 1 |  | 1 |  |

Retained earnings | 24 | 2,824,835 |  | 2,956,078 |  |

SHAREHOLDERS' FUNDS | 2,824,837 |  | 2,956,080 |  |

Company's loss for the financial year | (131,243 | ) | (1,789,955 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2026 and were signed on its behalf by:

D Ingall - Director

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 December 2023 | 1 |  | 8,195,371 |  | 1 |  | 8,195,373 |  |

Changes in equity

Dividends | - |  | (96,255 | ) | - |  | (96,255 | ) |

Total comprehensive income | - |  | 978,931 |  | - |  | 978,931 |  |

Balance at 30 November 2024 | 1 |  | 9,078,047 |  | 1 |  | 9,078,049 |  |

Changes in equity

Total comprehensive income | - |  | 394,518 |  | - |  | 394,518 |  |

Balance at 30 November 2025 | 1 |  | 9,472,565 |  | 1 |  | 9,472,567 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 December 2023 | 1 |  | 4,842,288 |  | 1 |  | 4,842,290 |  |

Changes in equity

Total comprehensive income | - |  | (1,789,955 | ) | - |  | (1,789,955 | ) |

Dividends | - |  | (96,255 | ) | - |  | (96,255 | ) |

Balance at 30 November 2024 | 1 |  | 2,956,078 |  | 1 |  | 2,956,080 |  |

Changes in equity

Total comprehensive income | - |  | (131,243 | ) | - |  | (131,243 | ) |

Balance at 30 November 2025 | 1 |  | 2,824,835 |  | 1 |  | 2,824,837 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,168,072 |  | 3,127,443 |  |

Interest paid | (27,316 | ) | - |  |

Interest element of hire purchase payments paid | (226,772 | ) | (267,063 | ) |

Tax paid | (95,103 | ) | 29,115 |  |

Net cash from operating activities | 1,818,881 |  | 2,889,495 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (946,791 | ) | (199,091 | ) |

Sale of tangible fixed assets | 304,591 |  | 475,383 |  |

Interest received | 9,772 |  | 28,701 |  |

Net cash from investing activities | (632,428 | ) | 304,993 |  |

Cash flows from financing activities

Loan repayments in year | (30,645 | ) | - |  |

New loans in year | 505,000 |  | - |  |

Capital repayments in year | (2,005,230 | ) | (2,211,785 | ) |

Interest on DLA | - |  | (5,052 | ) |

Amount withdrawn by directors | (482,678 | ) | (602,180 | ) |

Capital introduced by directors | 375,000 |  | - |  |

Loan to Daniel Charles Group EOT | (415,528 | ) | - |  |

Equity dividends paid | - |  | (96,255 | ) |

Net cash from financing activities | (2,054,081 | ) | (2,915,272 | ) |

(Decrease)/increase in cash and cash equivalents | (867,628 | ) | 279,216 |  |

Cash and cash equivalents at beginning of year | 2 | 2,791,912 |  | 2,512,696 |  |

Cash and cash equivalents at end of year | 2 | 1,924,284 |  | 2,791,912 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 636,492 |  | 1,335,121 |  |

| Depreciation charges | 2,022,654 |  | 2,045,928 |  |

| Profit on disposal of fixed assets | (103,523 | ) | (232,036 | ) |

| Deduction of depreciation on revaluation | (120,053 | ) | (267,880 | ) |

| Amortisation | (11,221 | ) | (11,221 | ) |

| Finance costs | 254,088 |  | 267,063 |  |

| Finance income | (37,135 | ) | (28,701 | ) |

2,641,302 |  | 3,108,274 |  |

| Increase in stocks | (132,508 | ) | (33,411 | ) |

| Decrease in trade and other debtors | 922,149 |  | 144,761 |  |

| Decrease in trade and other creditors | (1,262,871 | ) | (92,181 | ) |

| Cash generated from operations | 2,168,072 |  | 3,127,443 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 30 November 2025

| 30.11.25 |  | 1.12.24

£ | £ |

| Cash and cash equivalents | 1,924,284 |  | 2,791,912 |  |

| Year ended 30 November 2024

| 30.11.24 |  | 1.12.23

£ | £ |

| Cash and cash equivalents | 2,791,912 |  | 2,512,696 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| Other |

| non-cash |

| At 1.12.24 | Cash flow | changes | At 30.11.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 2,791,912 |  | (867,628 | ) | 1,924,284 |  |

2,791,912 |  | (867,628 | ) | 1,924,284 |  |

| Debt

| Finance leases | (4,103,073 | ) | 2,005,230 |  | (1,583,909 | ) | (3,681,752 | ) |

| Debts falling due

| within 1 year | - |  | (69,662 | ) | - |  | (69,662 | ) |

| Debts falling due

| after 1 year | - |  | (404,693 | ) | - |  | (404,693 | ) |

(4,103,073 | ) | 1,530,875 |  | (1,583,909 | ) | (4,156,107 | ) |

| Total | (1,311,161 | ) | 663,247 |  | (1,583,909 | ) | (2,231,823 | ) |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | STATUTORY INFORMATION

| Daniel Charles Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Basis of consolidation

| The group financial statements consolidate the financial statements of Daniel Charles Group Limited and all its subsidiary undertakings drawn up to 30 November each year. Control comprises the power to govern the financial and operating policies of the investee via control of the issued share capital of those companies.

| Subsidiaries are consolidated from the date of their acquisition, being the date on which the group obtains

| control, and continue to be consolidated until the date that such control ceases. The financial statements of subsidiaries are prepared for the same reporting year as the parent company, using consistent accounting policies.

| Intercompany balances and transactions, including unrealised profits arising from intragroup transactions,

| have been eliminated.

| The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own income statement in these financial statements.

| One entity included within the group financial statements, Daniel Charles Surveys Limited (company number 06326859) is entitled to the exemption for audit under Section 479A of the Companies Act 2006 relating to the period ended 30 November 2025.

| Significant judgements and estimates

| In the application of the group's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 and are covered within the accounting policies:

| i) The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 13 for the carrying amount of the property, plant and equipment and note 2 (Tangible Fixed Assets) for the useful economic lives for each class of asset.

| ii) The group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, ageing profile of debtors and historical experience. See note 16 for the net carrying amount of the debtors and associated impairment provision.

| Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| The turnover shown in the income statement represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the group has fulfilled its contractual obligations and the risks and rewards attaching to the service have been transferred to the customer.

| In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

| Revenue is recognised on contracts where the group has obtained a right to consideration. Turnover recognised in this manner is based on an assessment of the fair value of the goods & services provided at the date of financial position as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the group. Unbilled revenue is included in debtors.

| Interest Receivable

| Interest income is recognised on a basis of when it is received by the group. Any material balances received post year end have been reviewed and included if applicable.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | 2% on cost and Land - Not depreciated

| Plant and machinery | - | 25% on reducing balance and 10% on cost

| Fixtures and fittings | - | 25% on reducing balance and 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance and 15% on reducing balance

| Computer equipment | - | 33% on cost and 30% on reducing balance

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payment is treated as a liability.

| Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to the income statement in the period to which they relate.

| Financial instruments

| The group has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the income statement.

| Basic financial liabilities, including trade and other 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 receipts discounted at a market rate of interest.

| 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. Accounts 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.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 25,679,888 |  | 29,231,505 |  |

25,679,888 |  | 29,231,505 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 6,504,121 |  | 6,450,499 |  |

| Social security costs | 780,736 |  | 668,301 |  |

| Other pension costs | 207,441 |  | 203,080 |  |

7,492,298 |  | 7,321,880 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

4. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Direct | 117 |  | 123 |  |

| Admin | 40 |  | 38 |  |

157 |  | 161 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 237,984 |  | 217,035 |  |

| Directors' pension contributions to money purchase schemes | 66,788 |  | 66,313 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 3 |  | 3 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 85,493 |  | 85,443 |  |

| Pension contributions to money purchase schemes | 2,201 |  | 2,201 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 956,647 |  | 738,380 |  |

| Depreciation - assets on hire purchase contracts | 1,066,009 |  | 1,307,546 |  |

| Profit on disposal of fixed assets | (103,523 | ) | (232,036 | ) |

| Goodwill amortisation | (11,221 | ) | (11,221 | ) |

| Auditors' remuneration | 28,015 |  | 26,810 |  |

| Rent | 165,413 |  | 31,600 |  |

| Hire of plant and machinery | 696,292 |  | 933,727 |  |

6. | EXCEPTIONAL ITEMS

| 2025 |  | 2024

£ | £ |

| Exceptional items | 120,053 |  | 267,880 |  |

| The exceptional item is in relation to the previous years change in accounting policy, whereby there was a change in the useful economic life of the quarry following the approval of planning permission. The current year adjustment relates to an uplift adjustment following further planning permission being granted, allowing for additional extractions to be completed at the quarry.

| The previous years exceptional item included the adjustment regarding the change in accounting policy for the quarry.

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

7. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 2025 |  | 2024

£ | £ |

| Deposit account interest | 8,181 |  | 23,649 |  |

| Other interest received | 28,954 |  | 5,052 |  |

37,135 |  | 28,701 |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 27,316 |  | - |  |

| Hire purchase interest | 226,772 |  | 267,063 |  |

254,088 |  | 267,063 |  |

9. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 123,092 |  | 145,102 |  |

| Deferred tax | 118,882 |  | 211,088 |  |

| Tax on profit | 241,974 |  | 356,190 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 636,492 |  | 1,335,121 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 159,123 |  | 333,780 |  |

| Effects of:

| Expenses not deductible for tax purposes | 14,334 |  | 901 |  |

| Capital allowances in excess of depreciation | (46,663 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 35,082 |  |

| Utilisation of tax losses | - |  | (64,718 | ) |

| Accelerated capital allowances | 118,882 |  | 211,088 |  |

| Chargeable gains | - |  | 31,405 |  |

| Goodwill amortisation | (2,806 | ) | (2,806 | ) |

| Loss carried forward | - |  | (185,511 | ) |

| NTLR | - |  | (3,031 | ) |

| Difference due to different rates of corporation tax | (896 | ) | - |  |

| Total tax charge | 241,974 |  | 356,190 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

10. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

| The parent company's loss for the financial year was £131,243 (2024 £1,789,955).

11. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| A shares of £0.01 each

| Interim | - |  | 96,255 |  |

12. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | (112,211 | ) |

| AMORTISATION

| At 1 December 2024 | (44,887 | ) |

| Amortisation for year | (11,221 | ) |

| At 30 November 2025 | (56,108 | ) |

| NET BOOK VALUE

| At 30 November 2025 | (56,103 | ) |

| At 30 November 2024 | (67,324 | ) |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

13. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 December 2024 | 1,890,688 |  | 12,524,834 |  | 113,875 |  |

| Additions | 803,689 |  | 1,423,237 |  | 62,821 |  |

| Disposals | - |  | (481,308 | ) | - |  |

| Reclassification/transfer | - |  | (1,521,847 | ) | - |  |

| At 30 November 2025 | 2,694,377 |  | 11,944,916 |  | 176,696 |  |

| DEPRECIATION

| At 1 December 2024 | 493,072 |  | 5,937,871 |  | 19,822 |  |

| Charge for year | 81,068 |  | 1,399,229 |  | 23,314 |  |

| Eliminated on disposal | - |  | (317,156 | ) | - |  |

| Charge written back | (120,053 | ) | - |  | - |  |

| Reclassification/transfer | - |  | (1,489,419 | ) | - |  |

| At 30 November 2025 | 454,087 |  | 5,530,525 |  | 43,136 |  |

| NET BOOK VALUE

| At 30 November 2025 | 2,240,290 |  | 6,414,391 |  | 133,560 |  |

| At 30 November 2024 | 1,397,616 |  | 6,586,963 |  | 94,053 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 December 2024 | 3,771,940 |  | 109,670 |  | 18,411,007 |  |

| Additions | 231,086 |  | 9,739 |  | 2,530,572 |  |

| Disposals | (151,524 | ) | (7,870 | ) | (640,702 | ) |

| Reclassification/transfer | (173,138 | ) | - |  | (1,694,985 | ) |

| At 30 November 2025 | 3,678,364 |  | 111,539 |  | 18,605,892 |  |

| DEPRECIATION

| At 1 December 2024 | 1,474,890 |  | 70,362 |  | 7,996,017 |  |

| Charge for year | 504,303 |  | 14,742 |  | 2,022,656 |  |

| Eliminated on disposal | (114,608 | ) | (7,870 | ) | (439,634 | ) |

| Charge written back | - |  | - |  | (120,053 | ) |

| Reclassification/transfer | (205,694 | ) | - |  | (1,695,113 | ) |

| At 30 November 2025 | 1,658,891 |  | 77,234 |  | 7,763,873 |  |

| NET BOOK VALUE

| At 30 November 2025 | 2,019,473 |  | 34,305 |  | 10,842,019 |  |

| At 30 November 2024 | 2,297,050 |  | 39,308 |  | 10,414,990 |  |

| Included within the depreciation of freehold property is an uplift adjustment for £120,053. This is in relation to the previous years change in accounting policy, where there was a change in the useful economic life of the quarry following the approval of planning permission.

| During the year ended 30 November 2025, additional planning permission was granted which allowed for further quarry extraction.

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

13. | TANGIBLE FIXED ASSETS - continued

| Group

| The net book value of tangible fixed assets includes £ 5,055,623 (2024 - £ 6,504,551 ) in respect of assets held under hire purchase contracts.

| Company

| Fixtures |

| Plant and |  | and |  | Motor |

| machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 December 2024 | 3,893,735 |  | 22,550 |  | 308,512 |  | 4,224,797 |  |

| Disposals | (3,782 | ) | - |  | (33,209 | ) | (36,991 | ) |

| At 30 November 2025 | 3,889,953 |  | 22,550 |  | 275,303 |  | 4,187,806 |  |

| DEPRECIATION

| At 1 December 2024 | 813,589 |  | 11,990 |  | 123,094 |  | 948,673 |  |

| Charge for year | 453,394 |  | 1,584 |  | 42,994 |  | 497,972 |  |

| Eliminated on disposal | (2,253 | ) | - |  | (17,712 | ) | (19,965 | ) |

| At 30 November 2025 | 1,264,730 |  | 13,574 |  | 148,376 |  | 1,426,680 |  |

| NET BOOK VALUE

| At 30 November 2025 | 2,625,223 |  | 8,976 |  | 126,927 |  | 2,761,126 |  |

| At 30 November 2024 | 3,080,146 |  | 10,560 |  | 185,418 |  | 3,276,124 |  |

| All of the company's fixed assets except those within fixtures and fittings are held for leasing.

| The net book value of tangible fixed assets includes £ 937,500 (2024 - £ 1,062,500 ) in respect of assets held under hire purchase contracts.

14. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | 423,207 |  |

| NET BOOK VALUE

| At 30 November 2025 | 423,207 |  |

| At 30 November 2024 | 423,207 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

14. | FIXED ASSET INVESTMENTS - continued

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

| Subsidiaries

| Daniel Charles Construction Limited

| Registered office:

| Nature of business: Land surveying and construction

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 4,131,602 |  | 3,533,947 |  |

| Profit for the year | 597,655 |  | 981,012 |  |

| The shares in Daniel Charles Construction Limited were acquired by Daniel Charles Group Limited on 16 June 2012, by way of a share for share exchange with the then owners of Daniel Charles Construction Limited.

| The value of the shares is at the par value of £2, under merger relief provisions with no fair value adjustment.

| Daniel Charles Surveys Limited

| Registered office:

| Nature of business: Architectural activities and civil engineering

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 663,572 |  | 633,667 |  |

| Profit for the year | 29,905 |  | 27,816 |  |

| The shares in Daniel Charles Survey Limited were acquired by Daniel Charles Group Limited on 24 November 2021.

| Daniel Charles Aggregates Ltd (formerly Len Kirk Plant Hire Ltd)

| Registered office:

| Nature of business: Other specialised construction activities

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 2,331,754 |  | 2,444,902 |  |

| (Loss)/profit for the year | (113,148 | ) | 2,420,217 |  |

| The shares in Len Kirk Plant Hire Limited were acquired by Daniel Charles Group Limited on 24 November 2020.

| Daniel Charles Plant Limited

| Registered office:

| Nature of business: Dormant

| %

| Class of shares: | holding |

| ordinary | 100.00 |

| The shares in Daniel Charles Plant Limited were acquired by Daniel Charles Group Limited on 1 October 2021.

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

15. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Stocks | 491,887 |  | 359,379 |  |

16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 2,133,219 |  | 3,495,178 |  | - |  | - |  |

| Amounts owed by group undertakings | 1,181,250 |  | - |  | 1,897,227 |  | 493,930 |  |

| Amounts recoverable on contract | 1,826,388 |  | 1,634,564 |  | - |  | - |  |

| Other debtors | 86,424 |  | 45,772 |  | 79,126 |  | 25,595 |  |

| Directors' current accounts | - |  | 607,107 |  | - |  | 607,206 |  |

| VAT | 214,717 |  | - |  | - |  | - |  |

| Prepayments and accrued income | 105,731 |  | 136,585 |  | - |  | 3,885 |  |

5,547,729 |  | 5,919,206 |  | 1,976,353 |  | 1,130,616 |  |

| Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 19) | 69,662 |  | - |  | - |  | - |  |

| Hire purchase contracts (see note 20) | 1,747,000 |  | 2,080,712 |  | 257,863 |  | 243,074 |  |

| Trade creditors | 2,650,856 |  | 3,405,622 |  | 23,970 |  | 5,437 |  |

| Amounts owed to group undertakings | - |  | - |  | 1,505,485 |  | 810,188 |  |

| Taxation | 123,092 |  | 95,102 |  | 51,734 |  | - |  |

| Other taxes and social security | 186,733 |  | 184,194 |  | 3,837 |  | - |  |

| VAT | - |  | 231,058 |  | 15,499 |  | - |  |

| Other creditors | 37,331 |  | 32,361 |  | 1,327 |  | 128 |  |

| Directors' current accounts | 25 |  | - |  | - |  | - |  |

| Accruals and deferred income | 420,766 |  | 705,247 |  | 7,250 |  | 6,920 |  |

5,235,465 |  | 6,734,296 |  | 1,866,965 |  | 1,065,747 |  |

| Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

18. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans (see note 19) | 404,693 |  | - |  | - |  | - |  |

| Hire purchase contracts (see note 20) | 1,934,752 |  | 2,022,361 |  | 392,387 |  | 650,250 |  |

2,339,445 |  | 2,022,361 |  | 392,387 |  | 650,250 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

19. | LOANS

| An analysis of the maturity of loans is given below:

| Group |

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on | demand: |

| Bank loans | 69,662 |  | - |  |

| Amounts falling due between two and five years: |

| Bank loans - 2-5 years | 404,693 |  | - |  |

20. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 1,747,000 |  | 2,080,712 |  |

| Between one and five years | 1,934,752 |  | 2,022,361 |  |

3,681,752 |  | 4,103,073 |  |

| Company

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 257,863 |  | 243,074 |  |

| Between one and five years | 392,387 |  | 650,250 |  |

650,250 |  | 893,324 |  |

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 140,000 |  | 140,000 |  |

| Between one and five years | 443,333 |  | 560,000 |  |

583,333 |  | 700,000 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

21. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans | 474,355 |  | - |  | - |  | - |  |

| Hire purchase contracts | 3,681,752 |  | 4,103,073 |  | 650,250 |  | 893,324 |  |

4,156,107 |  | 4,103,073 |  | 650,250 |  | 893,324 |  |

| National Westminster Bank PLC holds a fixed and floating charge over the undertaking and all property and assets present and future including goodwill, uncalled capital, land and buildings and plant and machinery.

| Barclays Bank PLC holds a fixed and floating charge and negative pledge against all the property and undertakings of the group.There is also a composite cross guarantee that has been given to Barclays Bank PLC, as detailed in Note 25.

| Liabilities under hire purchase are secured on the assets to which they relate.

22. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax

| Accelerated capital allowances | 1,702,339 |  | 1,583,457 |  | 243,266 |  | 230,900 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 December 2024 | 1,583,457 |  |

| Charge to Income Statement during year | 118,882 |  |

| Balance at 30 November 2025 | 1,702,339 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 December 2024 | 230,900 |  |

| Charge to Income Statement during year | 12,366 |  |

| Balance at 30 November 2025 | 243,266 |  |

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

23. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: |  | Class: |  |  | Nominal Value: |  | 2025 |  |  | 2024 |  |

| 10 |  | A |  |  | £0.01 |  | 0.10 |  |  | 0.92 |  |

| 90 |  | B |  |  | £0.01 |  | 0.90 |  |  | 0.08 |  |

|  | 1 |  |  | 1 |  |

| During the financial year, 82 A shares were transferred and redesignated as B shares. The total issued share capital of the company remained unchanged.

24. | RESERVES

| Group

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 December 2024 | 9,078,047 |  | 1 |  | 9,078,048 |  |

| Profit for the year | 394,518 |  | 394,518 |  |

| At 30 November 2025 | 9,472,565 |  | 1 |  | 9,472,566 |  |

| Company

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 December 2024 | 2,956,078 |  | 1 |  | 2,956,079 |  |

| Deficit for the year | (131,243 | ) | (131,243 | ) |

| At 30 November 2025 | 2,824,835 |  | 1 |  | 2,824,836 |  |

| The retained earnings reserves represents cumulative profits and losses net of dividends and other adjustments.

| The capital redemption reserve represents the share capital that has been bought back by the group.

25. | CONTINGENCIES

| The group is party to a composite cross guarantee given to Barclays Bank PLC between Daniel Charles Group Limited, Daniel Charles Construction Limited, Daniel Charles Aggregates Limited and Daniel Charles Surveys Limited. The amount outstanding at the year end was £474,355 (2024 - £Nil).

DANIEL CHARLES GROUP LIMITED (REGISTERED NUMBER: 08077938)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

26. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 30 November 2025 and 30 November 2024:

2025 | 2024 |

£ | £ |

| D Ingall

| Balance outstanding at start of year | 607,106 |  | (126 | ) |

| Amounts advanced | 533,589 |  | 607,232 |  |

| Amounts repaid | (1,140,722 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (27 | ) | 607,106 |  |

27. | RELATED PARTY DISCLOSURES

| Other related parties

2025 | 2024 |

£ | £ |

| Sales | 1,031,900 |  | - |  |

| Rent | 161,813 |  | 28,000 |  |

| In the year, the group undertook work for the other related party. The amount of £1,188,892 (2024: £1,031,900) is included in amounts recoverable on contracts.

| During the year, a total of key management personnel compensation of £ 334,668 (2024 - £ 303,231 ) was paid.

28. | ULTIMATE CONTROLLING PARTY

| The controlling party is Daniel Charles EOT Trustees Limited.

| The ultimate controlling party is the trustees.