Registration number:
for the Year Ended
Barnwood Group Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Barnwood Group Limited
Company Information
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Directors |
S W Carey P F Evans M J Williams |
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Company secretary |
M J Williams |
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Registered office |
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Auditors |
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Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the group is that of carrying out contract work (including joinery manufacture and shopfitting) for the building industry. The principal activity of the company is that of a holding company.
Fair review of the business
Demand remained strong as Barnwood entered 2025, following a period of recovery between 2022 and 2023. However, towards the latter part of the year, there were emerging indications of softening market sentiment, which we expect will result in increased competition over the next 18 months. In response, the group maintained a clear focus throughout 2025 on driving efficiency across all areas of the business, ensuring it is well positioned for a more competitive trading environment ahead.
As a Bronze Award holder of the Fair Payment Code, the group continued to ensure suppliers were paid fairly and on time. It continued to support its supply chain partners and customers by allocating employee resources to complete unfinished projects and providing enhanced payment terms and cash support to those impacted.
Employees, rewarded through a profit-sharing scheme for delivering positive outcomes for clients and the business, continued to drive resilience and success. The group made several appointments in 2025, further evidencing its continued success and investment in its people.
As a result, the group is pleased to announce robust financial results, establishing a solid foundation for us to achieve our strategic objectives.
Cashflow continues to be effectively managed across the business. Our healthy cash resources allowed us to maintain our excellent payment performance to our supply chain.
The group continued to support local charities, including expanded social value coverage to Oxfordshire as work continues to grow in the area. Over £25k was delivered in fundraising and donations.
Results for the year show increased turnover to £118m (2024 - £103m) and a decrease in net profits before tax to £3.3m (2024 - £5.1m).
Summary of performance indicators
• Turnover and the future order book
• Margins on projects across the company
• Maintaining high levels of staff retention
• Monitoring monthly movements in cash flows
• Ensuring that they achieve and maintain the highest standards of Health and Safety at all of their sites
The group's key financial and other performance indicators during the year were as follows:
Turnover
Turnover increased by 14.6% in 2025. This was an expected increase, with several long-term opportunities coming to fruition during the year. Demand remained strong throughout much of 2025; however, towards the end of the year there were signs of more cautious sentiment, which we anticipate will lead to a more competitive market over the coming 18 months.
While we expect turnover to grow again in 2026, we recognise that the trading environment has become more challenging. As such we have focused on driving efficiency in preparation for the period ahead.
Gross Profit and Margins
The group's gross profit margin for 2025 was 13.2% down from 15.2% in 2024. This was not unexpected, given the economic slowdown and heightened competition.
Staff Retention
Our employee retention remains high, allowing a consistent service to our clients as well as creating a strong team culture. We believe the employee ownership trust and our commitment to staff wellbeing, as outlined above, play key roles in this retention. Our last bi-annual employee engagement survey found that over 70% of our employees feel positively about the employee ownership trust, and 88% of employees “feel proud to work for Barnwood”.
Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
In 2025, we strengthened our long-term workforce strategy, with 15% of new starters entering apprenticeship or development programmes. This supports our social value objectives and includes the employment of a former NEET who is progressing towards a skilled trade. In addition, 17% of new hires were female, underscoring our commitment to increasing gender diversity within the predominantly male-dominated construction industry.
Staff turnover still remains steady at 8% - well below average for the industry.
Cash flow
The cashflows of the business remains strong with no bank borrowings. The year end balances increased from £9.5m to £19.1m. The group takes its payment performance very seriously and are always committed to pay subcontractors and suppliers on time.
Occupational Health and Safety and IT Security
Our continued dedication to Occupational Health and Safety has been acknowledged with our 11th successive ROSPA Gold Award for 2025. We now hold the President’s Award, demonstrating our ongoing commitment to health and safety.
The safety and well-being of our employees, contractors, and visitors continue to be our paramount concern. We actively promote Barnwood’s robust safety culture through employee briefings, regular updates to the Employee Representative Group, and monthly discussions with the Board. Our objective is to keep everyone within the organisation aware of our progress, which is primarily focused on managing high-level risks within the construction sector, performance metrics, Health & Safety bulletins, and highlighting key areas of growth. The Trustees are also updated on these matters quarterly.
Barnwood continues to uphold and enhance our ISO 45001 certification, which is externally verified by UKAS (United Kingdom Accreditation Service) accredited auditors. We also retain our SSIP certifications: Chas, Constructionline, Safecontractor, Achilles, Altius.
All of our projects are regularly audited by our health and safety advisors. In addition, any significant incident or accident is investigated by our HSQE (Health, Safety, Quality, and Environment) team and a report produced thereafter with recommendations.
Actions arising from these reports are issued via Safety Directives immediately to all sites if necessary or urgent and are reviewed at our Health and Safety Review Meetings and appropriate action agreed. The group Head of HSQE sits on the board meetings and reviews the analysis from site inspections and accident/incident data.
Our data for 2025 is as follows:
|
Year |
High Potential Incident |
Hospital Treatment and Lost Time |
First Aid or Hospital and/or RIDDOR |
Incident Totals |
Accident Totals |
|
2023 |
- |
1 |
- |
10 |
1 |
|
2024 |
- |
2 |
- |
17 |
2 |
|
2025 |
- |
1 |
- |
10 |
1 |
High-potential incidents are those which, while not resulting in serious harm, had the potential to do so. RIDDOR refers to incidents reportable under the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013.
The directors are pleased with the group's continued strong health and safety performance, with zero RIDDOR-reportable incidents and zero high-potential incidents during the year. The Board, supply chain and Employee Representative Group remain engaged in the continual improvement of the company's safety culture.
Our commitment to IT security remains steadfast. We have successfully renewed our Cyber Essentials certification and continue to prioritise IT security training for our employees along with scheduled cybersecurity exercise. We will be seeking Cyber Essentials Plus in 2026.
Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
Environment
Barnwood are proud that our management of emissions go beyond legal and regulatory standards because we are accredited to ISO 14001:2015. We have adopted a best-practice approach to environmental management, and often we are assessed by either BREEAM (Building Research Establishment Environmental Assessment Method) or LEED (Leadership in Energy and Environmental Design) assessors on our projects.
Over the last 5 years, we have continued to make good progress in both our carbon management and reporting, more detail has been included in the Directors’ Report. Our work in 2025 achieved us the silver rating from Ecovadis.
Long term strategy and vision
In response to the challenges faced by the UK economy, the business conducted a comprehensive reassessment of its long-term strategic plan in 2022. We believe what distinguishes us from our competitors is our emphasis on collaboration and innovation. We strive to establish partnerships with our customers, prioritising long-term value over immediate gains. It has been our experience that we have often been successful in retaining customers once we have engaged with them.
The group views the main drivers for its success as follows:
• Delivering projects to the highest standard and in a timely fashion: Excellence in execution remains at the core of our operations, ensuring we consistently meet and exceed client expectations.
• Retaining a strong ethos across its employees and supply chain: Encourage a culture of integrity and reliability to ensure consistent delivery and performance.
• Maintaining a healthy financial standing: Robust financial management to support stability and growth, enabling us to invest in new opportunities.
• Upholding and developing a strong health and safety framework: Prioritising the well-being of our employees and stakeholders across the group, ensuring a safe and productive work environment
• Developing innovative and flexible solutions: Using our collaborative approach with clients to empower innovation, adaptability, and customised solutions that meet their unique needs.
• Regularly assessing the economic landscape: Staying informed and agile in relation to the industries we operate in, allowing us to proactively address challenges and seize opportunities.
• Investing in training and development programs: Enhancing the skills and capabilities of our workforce, ensuring we remain at the forefront of industry advancements and best practices.
The long-term plan reflects the group's strategy to simplify its structure to ensure that the group remains a thriving, resilient, innovative and respected contracting business. The review highlighted the importance of strengthening certain processes and systems to ensure efficient management of our anticipated growth over the next five years. We believe that we are well placed to react to changes in the marketplace and the macroeconomic environment.
To communicate these strategic priorities effectively, regular briefing sessions are held with employees, ensuring everyone is aligned with the long-term vision and goals. There is the opportunity for employees to feed back their views through employee representatives. In 2025 strategic plan is proving effective, with positive results emerging across our all areas of operations. The strategy will be reviewed in late 2026.
In 2025, we continued to explore and embed digital opportunities to support our working practice, including increased usage of SharePoint and the M365 environment, as well as enhanced use of Redsky, Breadcrumb and Procore. By embracing digital transformation and sustainability, we aim to improve efficiency, reduce environmental impact, and drive long-term growth.
Principal risks and uncertainties
The directors have established business processes that seek to identify, mitigate and manage a variety of risks at all levels of the business.
The directors have reviewed the principal risks and uncertainties relating to the group as follows:
Project management risk
Effective project management is a key component in delivering an outstanding service to every client. Poor contract management can lead to both financial and reputational damage.
To achieve an effective service, support systems have been implemented to ensure that the management of contracts deliver a quality service that goes far beyond the project and the obligations under the contract.
Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
Section 172 (1) Statement
The directors of the group must act in accordance with the duties detailed in section 172 of the Companies Act 2006 which is summarised as follows:
A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:
a) The likely consequences of any decision in the long term;
b) The interest of the company’s employees;
c) The need to foster the company’s business relationships with suppliers, customers and others;
d) The impact of the company’s operations on the community and the environment;
e) The desirability of the company maintaining a reputation for high standards of business conduct; and
f) The need to act fairly as between members of the company.
The directors take their duties under s.172 seriously and the following examples illustrate how they had regard to these matters in their decision-making during 2025.
(a) The likely consequences of any decision in the long term
The directors continued to operate against the long-term strategic plan reassessed in 2022, which is designed to position the group for resilience and sustainable growth over a five-year horizon. In 2025, with early signs of softening market sentiment emerging in the latter part of the year, the directors prioritised investment in efficiency, digital capability (including expanded use of SharePoint, M365, Redsky, Breadcrumb and Procore) and people development over short-term margin protection. The decision to acquire Ambrose House in 2026, co-locating the General Works and Construction teams and releasing 1 Hucclecote, was taken with a view to long-term operational collaboration and value rather than short-term cost. The strategy will be formally reviewed again in late 2026.
(b) The interests of the group's employees
As an employee-owned business, employee interests are central to the directors' decision-making, both directly and through engagement with the Trustees and the Employee Representative Group. During 2025, the directors:
• maintained the profit-sharing scheme through which employees share in the group's success;
• invested an average of 88 hours of training per employee - well above the UK average - and continued the apprenticeship programme, with 15% of new starters entering apprenticeship or development routes;
• launched a wellbeing committee and continued to invest in mental health support, including the Lighthouse charity and mental health first aiders across site teams;
• reported to the Trustees on a quarterly basis performance against budget and forecast.
• progressed a comprehensive management training programme in anticipation of Board retirements, supporting succession and continuity for the workforce.
(c) The need to foster the group's business relationships with suppliers, customers and others
The directors view long-term relationships with customers and supply chain partners as central to the company's success. During 2025:
• the group joined the Fair Payment Code (successor to the Prompt Payment Code, which the group joined in 2020) and maintained Bronze Award status, reflecting a continued commitment to paying suppliers fairly and on time;
• approximately 75% of the supply chain comprised local businesses, supported through annual meetings, surveys and design team engagement, with directors personally attending key supply chain meetings;
• customer engagement was maintained through regular meetings and dedicated account management, with feedback feeding directly into strategy, budgets and business planning; and
• the group allocated employee resource to complete unfinished projects and provided enhanced payment terms and cash support to supply chain partners and customers facing difficulty.
Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
(d) The impact of the group's operations on the community and the environment
The directors recognise the group's responsibility to the communities in which it operates and to the environment. During 2025:
• over £25,000 was raised in charitable donations and fundraising, and 250 volunteering hours were given, with social value activity expanded into Oxfordshire as work in the area grew;
• 320 hours of educational outreach and 250 hours of work experience placements were delivered, supporting local skills development, including the employment of a former NEET progressing toward a skilled trade;
• the group retained ISO 14001:2015 accreditation and achieved a silver rating from EcoVadis, reflecting continued progress in carbon management; and
• 17% of new hires were female, reflecting the directors' focus on improving gender diversity in a male-dominated industry.
(e) The desirability of the group maintaining a reputation for high standards of business conduct
The directors regard the group's reputation as inseparable from how it conducts itself across health and safety, quality, payment practices and ethics - captured in the "Barnwood Way" values of Trust, Support, Reputation, Quality, Collaboration and Reliability. During 2025, the group:
• received its 10th successive RoSPA Gold Award and now holds the President's Award, supported by ongoing ISO 45001 certification and SSIP accreditations (Chas, Constructionline, Safecontractor, Achilles, Altius);
• renewed its Cyber Essentials certification and committed to pursuing Cyber Essentials Plus in 2026; and
• promoted its safety culture through employee briefings, monthly Board discussions and quarterly Trustee updates, ensuring high standards are maintained at all levels.
(f) The need to act fairly as between members of the group
Following the transition to employee ownership, the Employee Ownership Trust is the principal shareholder, holding shares on behalf of employees as a whole. The directors are mindful of the need to act fairly as between members and:
• report to the Trustees on a quarterly basis on performance against agreed budgets and forecasts;
• engage with employees as beneficial owners through the Employee Representative Group, surveys and forums, ensuring views from across the business are communicated back to the Board; and
• ensure that the benefits of the group's performance - including profit share and dividend distributions - are shared equitably in line with the EOT structure.
Employee Ownership Trust
The transition to employee ownership has gone from strength to strength and is designed to support the long-term sustainability of the organisation and to secure the legacy of the founding directors.
The Employee Ownership Trust continues to contribute positively to the group's long-term sustainability and employee retention. Through annual dividend distributions (over £1.6m since 2020) and structured engagement initiatives- such as surveys and forums - employees are empowered to provide feedback and contribute to the group's ongoing development and success.
By sharing responsibility, opportunities and rewards we continue to build our already-strong culture across the business and develop better outcomes for our customers and other stakeholders.
The Trustees that continue to oversee the work are as follows:
Peter F Evans - Director
Gemma Cox - Head of HR & Social Value
Nigel Tillott - Independent Advisor
As the Board of Directors, our intention is to behave responsibly towards our employees via the Employee Ownership Trust and treat them fairly and equally so they too may benefit from the successful delivery of our plan. We report to the Trust on a bi-annual basis reporting the performance of the business against agreed budgets and forecasts.
An Employee Representative Group is in place and takes in consideration views from across the business which are communicated back to the board through the Employee Representatives. This group continues to spearhead initiatives to ensure that the business remains agile, drives innovation and strives towards a more sustainable future. Alongside this they have also implemented several positive changes to our work with local communities such as initiating a variety of social value initiatives, including educational talks in schools, fundraisers and other initiatives.
Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
We are committed to fostering a positive, high-performing working environment where employees are supported and aligned with our long-term goals.
Our group ethos, or the ‘Barnwood Way’, is the cornerstone of this:
• Trust - Our ethos of fairness, respect and openness as well as the honourable way of conducting our business creates trusting and confident relationships with our clients, subcontractors and suppliers.
• Support - We look after each and every one of our people with warmth, respect and courtesy, and continually invest in their personal development.
• Reputation - Our positive image and good name is a testament to the way we do business, live our values and support our local communities.
• Quality - We strive for quality in everything that we do, earning us a high level of repeat business and making our work interesting and rewarding.
• Collaboration - By working transparently, willingly and collaboratively with our clients, supply chain and employees, we build strong long-term relationships and achieve best value for our stakeholders.
• Reliability - Providing a reliable and consistent service and always honouring our commitments mean our clients, supply chain and employees know that they can depend on us.
Talent development is a strategic priority. Our annual appraisal process supports individual development plans, while our apprenticeship programme demonstrates our long-term investment in skills and the future workforce. We have also undertaken a comprehensive management training programme to strengthen succession planning, particularly in anticipation of upcoming Board retirements.
In 2025, we have continued to support several apprenticeships and continue collaborations with professional bodies, with 15% of new starters entering apprenticeship or development programmes. The group successfully delivered 320 hours of educational outreach support and invested 250 hours in work experience placements at a variety of levels. We continued to invest in our workforce, with an average of 88 hours training per employee - well above the UK average. The group was also pleased to offer several internal promotions, as well as external appointments.
Several of our current apprenticeships will complete in 2026, with the apprentices anticipated to continue their careers with Barnwood.
Our annual review process was further developed during the year, with the introduction of digital elements to improve employee visibility and deliver a more efficient and consistent approach for managers.
Recognising some challenges that can be particularly prevalent within the construction industry, we have several mental health initiatives such as the Lighthouse charity and mental health first aiders for all areas of the business, including site teams. In 2025, we initiated a wellbeing committee, designed to enhance employee health, engagement and productivity by promoting a supportive and balanced work environment.
Community and social responsibility
The group is committed to support various local and national charities. We also provide support to various charities and voluntary organisations with voluntary work. In 2025, we raised and donated over £25,000 in charitable donation and fundraising, and gave 250 volunteering hours.
We are committed to promoting careers within the construction and partner for several esteemed institutions within the local area.
Around 75% of our supply chain is made of local businesses, and we support all our supplier relationships by paying fairly and on time. This is recognised by our Bronze Award status in the Fair Payment Code.
Customers
The group recognises that engagement through listening, understanding and responding to customers is critical to our long-term success and our collaborative approach is the cornerstone of this. The Directors engage with customers through regular meetings and dedicated account management. This is a key measure of the business’ success and helps us capture ‘lessons learned’ which helps drive performance in the future.
The feedback from the customer engagement helps to inform the group on its long-term strategy, budgets and business plans. This often includes the way in which we communicate as a business, collaborate, structure our teams and maintain our continuous drive for outstanding quality.
Barnwood Group Limited
Strategic Report for the Year Ended 31 December 2025
Supply chain partners
The group's success and reputation are inextricably linked to its relationship with its supply chain partners. As noted above, Barnwood Limited is proud of its payment performance. This is fundamental as the group seeks to maintain and develop strong, open, collaborative and positive relationship across its supply chain. Our commitment to led us to join the Prompt Payment Code in 2020, and in 2025 we joined the new initiative that has replaced this code: the Fair Payment Code.
Engagement with supply chain partners takes many forms across the group including but not limited to annual meetings, surveys and regular design team meetings. Our supply chain partners are considered an extension of the group's internal teams. As such the Directors will regularly attend annual meetings with key supply chain partners to ensure that the group's overall strategy and vision is communicated effectively.
In 2026, in line with implementing Redsky, we will be revisiting and strengthening our pre-qualification questionnaire process for our supply chain.
Shareholders
As the Board of Directors, our intention is to behave responsibly towards our employees via the Employee Ownership Trust and treat them fairly and equally so they too may benefit from the successful delivery of our plan. We report to the Trust on a bi-annual basis reporting the performance of the business against agreed budgets and forecasts.
Other stakeholders
Other major stakeholder groups include the group's insurers, bankers, surety providers, advisors, auditors, regulators and HMRC.
With all these stakeholder groups, the Directors maintain regular and open dialogue to ensure that all parties are kept informed and are listened to. The Directors believe this is essential to building strong working relationships.
The Trustees overseeing the work of the Trust during the year were Peter F Evans (Director), Gemma Cox (Head of HR & Social Value) and Nigel Tillott (Independent Advisor).
Approved by the
Company secretary and director
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the consolidated financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Political Donations
The group made no political donations and incurred no political expenditure during the year.
Future developments
The group continues to maintain a robust order book for the next twelve months, supported by existing profitable work streams and frameworks.
Over the past five years, our strategic focus on diversifying into new sectors has significantly bolstered our resilience. This diversification, coupled with our involvement in several high-quality frameworks, positions us strongly for the future. Our 2025 strategy concentrated on targeting clients who serve as end users; 2026 will see renewed focus on larger frameworks as well as developing our existing relationships with customers and suppliers.
The acquisition of Ambrose House in 2026 will mark an important step in our operational development, with General Works and Construction teams co-habiting the new facility. This move is expected to drive closer collaboration across the business, while also delivering value through the sale of 1 Hucclecote.
Our commitment to sustainability remains a priority, and we are actively seeking opportunities to implement environmentally friendly practices across all aspects of our business. We have received our silver rating from Ecovadis, and our 11th consecutive RoSPA Gold award as a reflection of our continued commitment. Our work towards a digital-first approach continued in 2025 with the introduction of new technologies supporting site inductions, safety, and programme controls, and we look to fully embed and stabilise these in 2026.
Financial instruments
The group's financial instruments comprise cash and liquid resources, and various other items such as trade debtors, trade creditors, etc., that arise directly from its operations. The main purpose of these financial instruments is to finance the operations of the group. The main risks arising from the group's financial instruments are:
Credit risk
Liquidity risk
Cash flow risk
Price risk
Economic risk
Credit risk
The group's principal financial assets comprise cash balances, amounts held at bank, and trade and other receivables. The main credit risk faced by the group arises from the possibility that customers may fail to settle amounts owing to them.
The group manages this risk by applying appropriate credit assessment procedures and by monitoring outstanding balances on an ongoing basis. Where recovery of amounts due is considered uncertain, the carrying value of receivables is reduced to reflect this. Provisions for doubtful debts are recognised where there is objective evidence that amounts may not be fully recoverable, based on past experience.
Credit risk in respect of cash and bank balances is considered low, as such funds are held with reputable financial institutions holding strong credit ratings from recognised international credit rating agencies.
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The group aims to mitigate liquidity risk by managing cash generation by its operations, applying cash collection targets throughout the group and constantly monitors the group's trading results to ensure that the group can meet its future obligations as they fall due.
Cash flow risk
Cash flow risk is the risk of exposure to variability in cash flows that is attributable to a particular risk associated with a recognised asset or liability such as future interest payments on variable rate loans.
The group has limited exposure both to interest rate risk, as there is no third-party funding within the group, and to exchange rate risk, by virtue of the limited transactions in foreign currency.
Price risk
Price risk is minimised through maintaining a close working relationship with customers and by delivering high quality work. We have had to alter our approach in the face of inflationary pressures and as such we have sought to collaborate with our customers to equitably share this risk. This revised approach means that disputes are kept to a minimum and invoices are generally paid within the agreed terms.
Economic risk
The current weakness in the UK economy has reduced the confidence in both the public and private sectors, particularly those based in the retail sector. Our strategy is to maintain a broadly based client portfolio across a variety of different sectors, locations and markets.
Employment of disabled persons
We are committed to providing equal opportunities in employment. Applications from individuals with disabilities are given full and fair consideration based on their skills and qualifications. If an employee becomes disabled while in our employment, we make every effort to support their continued role within the group, including offering appropriate training and accommodations. Our policy is to ensure that training, career development, and promotion opportunities for employees with disabilities are, wherever possible, equal to those available to all employees.
Our commitment is reflected in our actions, with one disabled employee receiving various provisions under Access to Work including regular engagement with an interpreter; we have also further investment into focused training in supporting mental health and neurodiversity in our wider workforce.
Employee involvement
As an employee-owned trust, employee engagement and involvement is a key focus. The group's policy is to actively engage with employees by encouraging open communication and ensuring their involvement in matters that affect their interests. We achieve this through regular meetings and transparent discussions, promoting a collaborative environment. Since 2022, employee satisfaction with communication has risen by 30%, as reflected in our 2024 survey results. We are aware this is an area that can always be improved and are exploring different communication strategies through Sharepoint and connected environments without compromising communication with our weekly-employed operatives. We will be issuing the next employee engagement survey in 2026.
To keep employees well-informed, we hold communication briefings, distribute company newsletters, distribute information bulletins and reports that cover areas of concern and interest. These communications aim to enhance collective awareness among all employees regarding the financial and economic factors influencing the group's performance. We strive to align the group's objectives with employee expectations and foster a sense of shared purpose and commitment in all areas; for example, employees vote annually on the group's chosen charity of the year.
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
2025 Streamlined Energy and Carbon report
Information concerning carbon and energy matters, including emissions, energy consumption and intensity metrics relating to the Group are disclosed on a group basis.
The GHG emissions have been assessed following the ISO 14064-1:2018 standard and has used the 2025 emission conversion factors published by Department for Environment, Food and Rural Affairs (DEFRA) and the Department for Business, Energy & Industrial Strategy (BEIS). The assessment follows the location-based approach for assessing Scope 2 emissions from electricity usage. The operational control approach has been used.
The UK Government’s Streamlined Energy and Carbon Reporting (SECR) policy was implemented on 1 April 2019.
The figures below represent the energy use and associated greenhouse gas (GHG) emissions of Barnwood Limited, the subsidiary within the scope of the requirements, with Barnwood Group Limited itself exempt from the requirements for the year ended 31 December 2025.
Reporting approach
Barnwood voluntarily reports beyond the minimum SECR requirements. We measure and disclose our full Scope 1, Scope 2 and Scope 3 carbon footprint, and obtain independent verification to ISO 14064-3:2019 (limited assurance) from Carbon Footprint Ltd. To make this clear to readers, the disclosure below is presented in three parts:
• Table A presents the SECR-mandatory disclosure: energy use, Scope 1, Scope 2 (location-based and market-based), and the SECR-required Scope 3 subset (employee-owned vehicle business travel).
• Table B presents the additional Scope 3 categories that Barnwood voluntarily discloses but which are not required by SECR (Hotels, third-party freight, upstream fuel emissions, etc.).
• Table C presents the total carbon footprint, reconciling A and B.
For 2025, both location-based and market-based Scope 2 figures are disclosed for the first time. Market-based reporting reflects the actual electricity tariffs purchased (including zero-carbon tariffs at a number of sites).
UK energy consumption (kWh)
Energy consumption is reported under SECR for the UK operations of Barnwood Group Limited.
|
kWh |
|||
|
31st December 2025 |
31st December 2024 |
31st December 2023 |
|
|
Company cars |
163,632 |
98,728 |
83,410 |
|
Cash opt out |
241,082 |
372,519 |
428,963 |
|
On site fuel use |
688,698 |
805,096 |
1,096,694 |
|
Vehicle fuel |
1,683,502 |
1,370,381 |
1,257,077 |
|
Natural gas |
136,500 |
129,448 |
164,503 |
|
Electricity |
292,728 |
199,619 |
295,566 |
|
All vans |
122,068 |
88,699 |
69,734 |
|
Total |
3,328,210 |
2,975,802 |
3,395,947 |
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
Table A - SECR-mandatory emissions disclosure
These figures cover the emission categories that SECR requires large unquoted companies to report: all Scope 1 sources, all Scope 2 sources, and the Scope 3 subset for business travel in employee-owned vehicles.
|
SECR-mandatory disclosure (tCO2e) |
2025 Location-based |
2025 Market-based |
2024 |
2023 |
|
Scope 1 - Direct emissions |
||||
|
Site Diesel (retail) |
429 |
429 |
205 |
242 |
|
Vehicle fuel useage |
147 |
147 |
263 |
261 |
|
Owned vans |
31 |
31 |
23 |
17 |
|
Site gas |
28 |
28 |
26 |
30 |
|
Company car travel |
19 |
19 |
23 |
23 |
|
Lorry freight (owned)* |
- |
- |
61 |
59 |
|
Biodiesel HVO |
- |
- |
||
|
Vehicle Petrol |
- |
- |
- |
1 |
|
Total Scope 1 |
655 |
655 |
601 |
633 |
|
Scope 2 - Indirect energy emissions |
||||
|
Electricity generation |
52 |
47 |
41 |
61 |
|
Company vehicle EV charging |
15 |
15 |
- |
- |
|
Total Scope 2 |
67 |
62 |
41 |
61 |
|
Scope 3 - employee-owned vehicle business travel |
||||
|
Cash opt-out car travel |
59 |
59 |
92 |
125 |
|
Total Scope 3 |
59 |
59 |
92 |
125 |
|
Total SECR-mandatory emissions |
781 |
776 |
734 |
819 |
*Lorry freight (owned) and Vehicle petrol were reclassified in 2025; lorry-related emissions are now included within Vehicle fuel usage or within Scope 3 downstream transportation (Table B), reflecting how those activities are now controlled.
Notes:
• Scope 2 is shown on both a location-based and market-based basis. Market-based emissions are lower because Barnwood holds zero-carbon electricity tariffs at several of its sites.
• Biodiesel HVO and Company vehicle EV charging are reported for the first time in 2025.
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
Table B - Additional voluntary Scope 3 disclosure
Barnwood discloses these Scope 3 categories voluntarily, beyond the minimum SECR requirement, to give a fuller view of the indirect emissions associated with our operations. Reporting categories have expanded over time as data quality has improved.
|
2025 |
2024 |
2023 |
|
|
Well To Tank (upstream emissions of consumed fuels & electricity) |
199 |
183 |
171 |
|
Cash opt out car travel |
59 |
92 |
125 |
|
Hotels |
- |
61 |
- |
|
Flights |
9 |
10 |
17 |
|
Electricity transmission & distribution losses |
5 |
4 |
6 |
|
Company vehicle EV charging — transmission & distribution losses |
2 |
- |
- |
|
Rail travel |
1 |
1 |
1 |
|
Taxi, Bus & Ferry travel |
- |
1 |
1 |
|
Motorbikes |
- |
- |
1 |
|
Total |
275 |
352 |
322 |
Notes:
• Outsourced HGV freight is reported for the first time in 2025 and is the largest single driver of the year-on-year increase in voluntary disclosure (£52 tCO2e).
• Hotels were first included in 2024 and a full year is reflected in 2025.
• Paper and Company vehicle EV charging T&D losses are reported for the first time in 2025.
• Market-based equivalents for the voluntary categories are available in the verification report; location-based figures are shown here for consistency with prior-year practice.
Table C - Total carbon footprint
This table reconciles the SECR-mandatory and voluntary disclosures to give the total gross GHG emissions of Barnwood Limited.
|
Total carbon footprint (tCO2e) |
2025 Location-based |
2025 Market-based |
2024 |
2023 |
|
SECR-mandatory emissions (Table A) |
781 |
776 |
734 |
819 |
|
Additional voluntary Scope 3 (Table B) |
341 |
332 |
260 |
196 |
|
Total SECR-mandatory emissions |
1,121 |
1,108 |
994 |
1,015 |
Intensity ratios
|
Intensity ratios |
2025 |
2024 |
2023 |
|
Tonnes of CO2e per £M turnover (gross, location-based) |
10 |
10 |
8 |
|
Tonnes of CO2e per employee (gross, location-based) |
5 |
4 |
5 |
Intensity ratios are calculated on gross location-based emissions across all reported scopes (Tables A + B), and on 2025 turnover of £118m.
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
Methodology
The SECR submission has been compiled using the Government Environmental Reporting Guidelines. Emissions have been grouped according to the GHG Protocol Corporate Accounting and Reporting Standard.
The 2025 carbon footprint has been calculated using the Sustrax MX reporting platform, which applies the 2025 GHG conversion factors published by the UK Department for Environment, Food and Rural Affairs (Defra), supplemented by country-specific and supplier-specific electricity factors where relevant.
The footprint has been independently reviewed by Carbon Footprint Ltd to ISO 14064-3:2019 at a limited level of assurance. The operational control approach has been used to consolidate emissions.
Energy Efficiency Actions and Carbon Emissions Management
Barnwood are proud that our management of emissions goes beyond legal and regulatory standards because we are accredited to ISO 14001:2015. We have adopted a best-practice approach to environmental management, and often we are assessed by either BREEAM or LEED assessors on our projects.
In 2025, we have:
• Successfully trialled a hybrid battery at a large live site
• Deployed an EV Excavator
• Continued to grow our fleet of EV cars
Targets
Barnwood are committed to reducing its carbon footprint in line with government targets.
• 30% reduction of CO2e by 2030 from our 2020 figure
• 50% reduction of CO2e by 2035 from our 2020 figures
Achievements
• 2021 - 29% reduction from 2020 figures
• 2022 - 43% reduction from 2020 figures
• 2023 - 44% reduction from 2020 figures
• 2024 - 47% reduction from 2020 figures
• 2025 - 40% reduction from 2020 figures
Note on year-on-year movements:
Total gross emissions in 2025 are 1,121 tCO2e (location-based), up from 994 tCO2e in 2024. This 12.8% increase is driven primarily by the first-time inclusion of outsourced HGV freight (52 tCO2e) and other newly captured categories (Paper, EV charging T&D), together with a full year of Hotels reporting and increased site diesel consumption associated with operational activity. On a like-for-like basis, excluding categories not previously reported, underlying emissions remain broadly in line with 2024. The market-based total of 1,108 tCO2e reflects the benefit of renewable electricity tariffs purchased during the year.
Going concern
After reviewing the group and company's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources available to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its financial statements.
Directors' liabilities
The company has indemnified, by means of directors and officers' liability insurance, the directors of the company against liability in respect of proceedings brought by third parties, subject to the conditions set out in section 234 of the Companies Act 2006. Such qualifying party indemnity provision was in force during the year and is in force at the date of approving the Directors' Report.
Disclosure of information to the auditor
Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Barnwood Group Limited
Directors' Report for the Year Ended 31 December 2025
Reappointment of auditors
Hazlewoods have expressed their willingness to continue in office.
Approved by the
Company secretary and director
Barnwood Group Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company and of the profit or loss of the group and company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Barnwood Group Limited
Independent Auditor's Report to the Members of Barnwood Group Limited
Opinion
We have audited the financial statements of Barnwood Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, and 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 the parent company's affairs as at 31 December 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 Auditor’s 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 parent company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion on other matter 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Barnwood Group Limited
Independent Auditor's Report to the Members of Barnwood Group Limited
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
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 16, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the 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.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the group and parent company’s industry and its control environment and reviewed the group's and parent company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the group and parent company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group's and parent company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
Barnwood Group Limited
Independent Auditor's Report to the Members of Barnwood Group Limited
|
• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
|
• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; and |
|
• |
enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council's website at 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.
For and on behalf of
Staverton Court
Staverton
Cheltenham
GL51 0UX
Barnwood Group Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Profit from other financial assets |
- |
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
The above results are derived from continuing operations.
The group had no other comprehensive income for the year.
Barnwood Group Limited
(Registration number: 03360908)
Consolidated Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Share premium reserve |
|
|
|
|
Capital redemption reserve |
|
|
|
|
Revaluation reserve |
|
|
|
|
Other reserves |
|
|
|
|
Profit and loss account |
|
|
|
|
Total equity |
|
|
Approved and authorised by the
Company secretary and director
Barnwood Group Limited
(Registration number: 03360908)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Investments |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Share premium reserve |
|
|
|
|
Capital redemption reserve |
|
|
|
|
Profit and loss account |
|
|
|
|
Total equity |
|
|
The company made a profit after tax for the financial year of £2,248,651 (2024 - profit of £2,313,495).
Approved and authorised by the
Company secretary and director
Barnwood Group Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium reserve |
Capital redemption reserve |
Revaluation reserve |
Other reserves |
Profit and loss account |
Total equity |
|
|
At 1 January 2025 |
|
|
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
- |
- |
|
|
|
Contribution to employee ownership trust |
- |
- |
- |
- |
- |
(2,000,000) |
(2,000,000) |
|
At 31 December 2025 |
|
|
|
|
|
|
|
|
Share capital |
Share premium reserve |
Capital redemption reserve |
Revaluation reserve |
Other reserves |
Profit and loss account |
Total equity |
|
|
At 1 January 2024 |
|
|
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
- |
- |
|
|
|
Contribution to employee ownership trust |
- |
- |
- |
- |
- |
(1,000,000) |
(1,000,000) |
|
At 31 December 2024 |
1,365 |
131,100 |
7,612 |
220,455 |
14,147 |
9,547,164 |
9,921,843 |
Barnwood Group Limited
Company Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium reserve |
Capital redemption reserve |
Profit and loss account |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Contribution to employee ownership trust |
- |
- |
- |
(2,000,000) |
(2,000,000) |
|
At 31 December 2025 |
|
|
|
|
|
|
Share capital |
Share premium reserve |
Capital redemption reserve |
Profit and loss account |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Contribution to employee ownership trust |
- |
- |
- |
(1,000,000) |
(1,000,000) |
|
At 31 December 2024 |
|
|
|
|
|
Barnwood Group Limited
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation |
|
|
|
|
Financial instrument net gains (losses) through profit and loss |
- |
( |
|
|
Profit on disposal of property plant and equipment |
( |
( |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in inventories |
|
|
|
|
(Increase)/decrease in trade and other receivables |
( |
|
|
|
Increase/(decrease) in trade and other payables |
|
( |
|
|
Increase in provisions |
|
- |
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
( |
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of property plant and equipment |
( |
( |
|
|
Proceeds from sale of property plant and equipment |
|
|
|
|
Proceeds from sale of financial assets |
- |
|
|
|
Net cash flows from investing activities |
( |
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Employee Ownership Trust contribution |
(2,000,000) |
(1,000,000) |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 January |
9,517,055 |
10,332,475 |
|
|
Cash and cash equivalents at 31 December |
19,103,096 |
9,517,055 |
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
General information |
The company is a private company limited by share capital incorporated in The United Kingdom.
The address of its registered office is:
|
Accounting policies |
Statement of compliance
These financial statements were 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.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of these financial statements is UK £, being the functional currency of the primary economic environment in which the group operates. Monetary amounts in these financial statements are rounded to the nearest £.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Summary of disclosure exemptions
Barnwood Group Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. Exemptions have been taken in relation to financial instruments and presentation of a statement of cash flows.
Going concern
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources available to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's and company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements.
Key sources of estimation uncertainty
Determining the value of amounts recoverable under contracts requires an estimation of the total expected turnover and costs associated with a contract and its stage of completion at the accounting reference date.
The carrying amount is a net creditor of £8,959,578 (2024 - £3,470,697) which represents the net amounts due to/from customers disclosed in debtors and creditors notes.
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
The dilapidations provision is measured at the best estimate of the expenditure required to settle restoration obligations at the reporting date and reflects current market rates and expected scope of works. The provision is reviewed annually. At the year end, dilapidations provision balance is £276,971 (2024 - £Nil).
The estimation of latent defect provisions is a key source of estimation uncertainty. The provision is based on management’s assessment of the likely future costs required to settle known and expected defects arising under contractual obligations, warranties, or statutory requirements. The provision is typically calculated using a combination of specific assessments for known defects, and a portfolio-based approach for inherent defects not yet identified, using historical trends and industry experience. The provision is reviewed at each reporting date and updated to reflect current best estimates. At the year end, latent defects provision balance is £596,427 (2024 - £460,169).
Determining the valuation of properties included in the balance sheet requires estimation derived from the current market prices for comparable real estate determined by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2025.
No profit and loss account is presented for the company as permitted by section 408 of the Companies Act 2006.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
Group reorganisations, where applicable UK Accounting Standards allow, are accounted for by applying the principles of merger accounting, under which the carrying values of the assets and liabilities of the acquired subsidiaries are not required to be adjusted to fair value.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the group's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. Costs are calculated as that proportion of contract value which turnover to date bears to total expected turnover for that contract. Variations in the contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.
Costs associated with contracts are included within work in progress to the extent that they cannot be matched with contract work accounted for as turnover.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The original cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Land and buildings are stated in the balance sheet at revalued cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. When revalued, the surplus or deficit on book value is transferred to the revaluation reserve. Except when a deficit which is in excess of any previously recognised surplus over depreciated cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Freehold buildings |
15 - 50 years straight line |
|
Long leasehold land and buildings |
15 years straight line |
|
Plant and machinery |
15% to 25% straight line |
|
Motor vehicles |
20% to 25% straight line |
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the debtors.
Stocks
Stock which comprise of land held for development, work in progress and finished houses are stated at the lower of cost and net realisable value. Costs include materials, direct labour and production overheads appropriate to the relevant stage of production. Net realisable value is based on estimated selling price less all further costs to completion and all relevant marketing and selling costs.
Trade creditors
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 the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Provisions
Provisions are recognised when the group has an obligation at the reporting date as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, they are otherwise classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
profit and loss account.
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.
Provisions for termination benefits are recognised only when the group is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
|
Revenue |
The analysis of the group's revenue for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Constructions contracts |
|
|
|
Rental income from investment property |
|
|
|
|
|
The total turnover of the group has been derived from its principal activity wholly undertaken in the United Kingdom.
The amount of contract revenue recognised as revenue in the year was £117,923,242 (2024 - £103,009,831).
The amount of rental income recognised as revenue in the year was £140,892 (2024 - £160,317).
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation of owned assets |
|
|
|
Auditor's remuneration - statutory audit fees |
|
|
|
Auditor's remuneration - tax compliance services |
|
|
|
Auditor's remuneration - other non-audit services |
|
|
|
Operating lease expense - property |
|
|
|
Profit on sale of tangible fixed assets |
( |
( |
Included within the total of auditor's remuneration of the statutory accounts is £2,835 (2024 - £2,700) relating to the audit of the company.
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Other interest payable |
|
|
|
Staff costs |
Group
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
1,443,979 |
670,378 |
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Site staff |
|
|
|
Manufacturing |
|
|
|
Administrative and management staff |
|
|
|
|
|
Company
The company had no employees and therefore incurred no staff costs.
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
560,110 |
728,818 |
During the year the number of directors who were receiving benefits was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
( |
|
761,916 |
742,911 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Adjustment in respect of prior periods |
|
- |
|
Total deferred taxation |
|
|
|
Tax expense in the profit and loss account |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Expenses not deductible for tax purposes |
|
|
|
Increase/(decrease) in deferred tax from adjustments to prior periods |
|
- |
|
Fixed asset differences |
|
( |
|
Decrease in UK and foreign current tax from adjustment for prior periods |
( |
( |
|
Capital gains/(losses) |
|
( |
|
Total tax charge |
|
|
Deferred tax at 31 December 2025 has been calculated at a substantively enacted rate of 25% (2024 - 25%).
Deferred tax
Group
Deferred tax assets and liabilities (movement detailed above)
|
2025 |
Liability |
|
Fixed asset timing differences |
|
|
Short term timing differences |
( |
|
Capital gains |
|
|
|
|
2024 |
Liability |
|
Fixed asset timing differences |
|
|
Short term timing differences |
( |
|
Capital gains |
|
|
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
Group
|
Freehold land and buildings |
Long leasehold land and buildings |
Plant and machinery |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
Disposals |
- |
- |
( |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Included in freehold land and buildings is freehold land held at valuation of £250,000 (2024 - £250,000) which is not depreciated.
The properties were revalued by the directors on the basis of a chartered surveyor's report on 3 October 2022. The directors consider there is no significant change in the value of the properties since the date of the valuation and 31 December 2025. If the land and buildings had not been revalued they would have been included at historical cost of £718,539 (2024 - £735,647).
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Investment properties |
Group
|
2025 |
|
|
At 1 January 2025 and 31 December 2025 |
|
The properties were revalued by the directors on the basis of a chartered surveyor's report on 3 October 2022. The directors consider there is no significant change in the value of the properties since the date of the valuation and 31 December 2025. If the investment properties had not been revalued they would have been included at historical cost of £1,304,250 (2024 - £1,304,250).
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost |
|
|
At 1 January 2025 |
|
|
At 31 December 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
203 Barnwood Road,
|
Ordinary |
|
|
|
|
203 Barnwood Road,
|
Ordinary |
|
|
|
|
203 Barnwood Road,
|
Ordinary |
|
|
|
|
203 Barnwood Road,
|
Ordinary |
|
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Stock |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Production supplies |
|
|
- |
- |
|
Work in progress |
- |
|
- |
- |
|
|
|
- |
- |
|
|
Debtors |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
- |
- |
|
Amounts owed by group undertakings |
- |
- |
|
|
|
Other debtors |
|
|
|
|
|
Prepayments |
|
|
- |
- |
|
Gross amount due from customers for contract work |
|
|
- |
- |
|
VAT control account |
- |
- |
512,847 |
757,208 |
|
Corporation tax asset |
|
|
- |
- |
|
|
|
|
|
|
Amounts owed by group undertakings are interest free, unsecured and repayable on demand.
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash at bank |
|
|
|
|
|
Creditors |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
||||
|
Trade creditors |
|
|
- |
- |
|
Amounts due to group undertakings |
- |
- |
|
|
|
Social security and other taxes |
|
|
- |
- |
|
Outstanding defined contribution pension costs |
|
|
- |
- |
|
Other payables |
|
|
- |
- |
|
Accrued expenses |
|
|
|
|
|
Corporation tax liability |
|
|
|
|
|
Gross amount due to customers for contract work |
|
|
- |
- |
|
|
|
|
|
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Amounts due to group undertakings are interest free, unsecured and repayable on demand.
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
|
Provisions |
Group
|
Dilapidations provision |
Deferred tax |
Latent defect |
Total |
|
|
At 1 January 2025 |
- |
|
|
|
|
Additional provisions |
|
|
|
|
|
At 31 December 2025 |
|
|
|
|
|
|
||||
The latent defect provision is recognised when it is probable that costs will be incurred outside of the defect liability period.
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,365 |
|
1,365 |
The ordinary shares hold full rights in respect of voting, dividends and a return of capital.
|
Reserves |
Group and Company
Called up share capital
Represents the issued equity share capital of the company.
Share premium
Represents the share premium arising on the issue of shares.
Capital redemption reserve
Represents the amount transferred in order to maintain the company's capital arising from the purchase of own shares.
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Profit and loss account
Represents cumulative profits or losses, net of dividends paid and other adjustments. During the year, the company made a contribution of £2,000,000 (2024 - £1,000,000) to the Barnwood Group Employee Ownership Trust, an Employee Ownership Trust set up for the benefit of the employees of the group.
Group only
Revaluation reserve
Represents the gains or losses on revaluation of properties.
Other reserve
This represents a merger reserve arising on the acquisition of subsidiaries through a share for share exchange, as part of a group reorganisation, to which the principles of merger accounting were applied.
|
Obligations under leases |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Operating leases - lessor
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
Total non-cancellable rents recognised as income in the period are £
|
Related party transactions |
The group has taken advantage of section 33 of FRS 102 to not disclose transactions with fellow group companies who are 100% owned. Balances are disclosed in notes 14 and 16.
|
Non adjusting events after the financial period |
|
|
Barnwood Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Analysis of net debt |
Group
|
At 1 January 2025 |
Cash flows |
At 31 December 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash equivalents |
9,517,055 |
9,586,041 |
19,103,096 |
|
|
|||
|
Control |
The ultimate controlling party is Barnwood Holdings Limited, on behalf of Barnwood Employee Ownership Trust, incorporated in the United Kingdom.