Southern Structures Holdings Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—7
Consolidated Profit and Loss Account	8
Consolidated Balance Sheet	9
Company Balance Sheet	10
Consolidated Statement of Changes in Equity	11
Company Statement of Changes in Equity	12
Consolidated Cash Flow Statement	13
Notes to the Consolidated Cash Flow Statement	14
Company Cash Flow Statement	15
Notes to the Company Cash Flow Statement	16
Notes to the Financial Statements	17—26

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

Principal Activity

The group's principal activity continues to be that of groundworks and construction services.

Review of the Business

Southern Structures Holdings Limited is a well-established group of construction & in house plant hire companies delivering high-quality residential and commercial projects across the UK. With a focus on basements, groundworks and RC frames, we work mainly as a subcontractor with a variety of the UK’s most respected main contractors and housebuilders working within the private & public sector.

The company is known for its reliability, quality delivery, and commitment to health and safety.

Key Performance Indicators (KPI's)

	31 December 2025	2024
	£	£
Turnover	13,979,836	14,195,691
Gross Profit	3,169,040	2,843,458
Gross Profit Margin	22.67%	20.03%
Operating Profit	580,931	722,504
Operating Profit Margin	4.15%	5.08%

The company delivered strong results in FY2025, although turnover was slightly down on 2024, margin improvement was supported by better procurement practices and strict project cost controls.

Principal Risks and Uncertainties

The construction industry continues to face several risks that could impact the company's operations and financial performance. Key risks include:

Material Cost Inflation

Significant increases in the cost of key materials such as concrete, steel, and timber have put pressure on margins. While the company secures fixed-price contracts where possible, global supply chain volatility remains a concern.

Credit & Liquidity risk

Bad debts always remain a potential threat within the business. This risk is managed within the group with credit checks being completed regularly for all clients.

Labour Availability

A shortage of skilled construction workers continues to challenge the industry. This affects project scheduling and increases subcontractor costs. The company is investing in training initiatives to help mitigate this and fully supports our apprentices who are integrated within the site and office teams.

Economic and Market Conditions

Economic uncertainty remains a risk within the construction sector which we manage through robust systems and procedures. Higher interest rates and inflation affect housing affordability and commercial development funding. Market softening could reduce demand for new projects in both sectors.

Planning and Regulatory Challenges

Delays in obtaining planning permissions and compliance with updated building regulations can delay project starts and increase costs.

Environmental Expectations

Clients, investors, and regulators are increasingly focused on sustainability. The company must continue to adapt its methods and materials to meet evolving environmental requirements.

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Southern Structures Holdings Limited

Strategic Report (continued)

For The Year Ended 31 December 2025

Future Developments

The strategic focus over the next 12–24 months includes:

Growth in Commercial Construction

We aim to grow our commercial project portfolio, we have demonstrated strong delivery capability whilst working for some of the most respected main contractors which is already generating repeat business.

Technology Integration

Investments are being made in project management software, digital scheduling tools, and mobile site technology to improve real-time decision-making and reduce waste.

Workforce Development

We are continually assessing the requirements of the business by looking to expand our training and apprenticeship program aimed at attracting and retaining skilled workers.

Accreditations

The group continue to maintain and have achieved the following accreditations:

CHAS – (The Contractors Health and Safety Assessment Scheme)

SMAS – (Safety Management Advisor Services)

CSCS – (Construction Skills Certification Scheme)

Constructionline Gold

Builders Profile

Conclusion

FY2025 was a year of strategic progress. With a strong pipeline of residential and commercial projects, an increased focus on digital tools, and a commitment to sustainability and workforce development, Southern Structures Holdings Limited is well-positioned for long-term success.

On behalf of the board

Mr L J Blanchard

Director

18 August 2026

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Southern Structures Holdings Limited

Company No. 13163563

Directors' Report For The Year Ended 31 December 2025

Directors' Report

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

Change of Company Name

On the company changed its name from to Southern Structures Holdings Limited .

Dividends

The value of dividends paid amounted to £116,000 .

The directors recommended a final dividend of £NIL .

Political Donations and Expenditure

Political donations amounted to £NIL .

Political expenditure amounted to £NIL .

Financial Instruments

Directors

The directors who held office during the year were as follows:

Mrs C S Gordon	Appointed	10/06/2025
Mr L J Blanchard

Qualifying Third-party and Pension Scheme Indemnity Provision

Research and Development

Post Balance Sheet Events

Employees

Employee Engagement Statement

Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Group

Branches Outside the UK

Streamlined Energy and Carbon Reporting

Additional note to the Report of the Directors

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

...CONTINUED

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Southern Structures Holdings Limited

Directors' Report (continued)

For The Year Ended 31 December 2025

Statement of Directors' Responsibilities - continued

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

Independent Auditors

The auditors, JWR Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr L J Blanchard

Director

18 August 2026

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Independent Auditor's Report

to the Members of

Southern Structures Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Southern Structures Holdings 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, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2025 and of the group's profit/(loss) 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 and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the 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.

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Independent Auditor's Report (continued)

to the Members of

Southern Structures Holdings Limited

Matters on Which We Are Required to Report by Exception

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

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

adequate accounting records have not been kept 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 or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, 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 and 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.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations.

We designed audit procedures to respond to the risk, 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.

Procedures performed by the audit team included:

Discussions with management regarding known or suspected instances of non-compliance with laws and regulations;
Evaluation of controls designed to prevent and detect irregularities; and
Assessing journals entries as part of our planned audit approach.

There are inherent limitations in the audit procedures described above 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 would become aware of it.

As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Southern Structures Holdings Limited

Katie Wood FCA FCCA (Senior Statutory Auditor)

for and on behalf of JWR Audit Limited , Statutory Auditor

23 August 2026

JWR Audit Limited

24 Picton House, Hussar Court

Westside View

Waterlooville

Hampshire

PO7 7SQ

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Southern Structures Holdings Limited

Consolidated Profit and Loss Account

For The Year Ended 31 December 2025

Consolidated Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	13,979,836	14,195,691
Cost of sales		(10,810,795 )	(11,352,233 )

GROSS PROFIT		3,169,041	2,843,458

Administrative expenses		(2,596,714 )	(2,121,783 )
Other operating income		434	316

OPERATING PROFIT	5	572,761	721,991
Loss on disposal of fixed assets		(4,749 )	(9,377 )
Other interest receivable and similar income	10	-	740
Interest payable and similar charges	11	(123,961 )	(109,770 )

PROFIT BEFORE TAXATION		444,051	603,584
Tax on Profit	12	(118,377 )	(118,681 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		325,674	484,903

The notes on pages 14 to 26 form part of these financial statements.

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Southern Structures Holdings Limited

Consolidated Balance Sheet

As At 31 December 2025

Consolidated Balance Sheet

Registered number: 13163563

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		3,333,895		3,296,862

			3,333,895		3,296,862
CURRENT ASSETS
Debtors	15	1,728,568		2,021,628
Cash at bank and in hand		2,081,125		1,520,181

		3,809,693		3,541,809
Creditors: Amounts Falling Due Within One Year	16	(3,527,985 )		(3,320,334 )

NET CURRENT ASSETS (LIABILITIES)			281,708		221,475

TOTAL ASSETS LESS CURRENT LIABILITIES			3,615,603		3,518,337

Creditors: Amounts Falling Due After More Than One Year	17		(855,657 )		(958,609 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	20		(576,914 )		(586,370 )

NET ASSETS			2,183,032		1,973,358

CAPITAL AND RESERVES
Called up share capital	22		1		1
Profit and Loss Account			2,183,031		1,973,357

SHAREHOLDERS' FUNDS			2,183,032		1,973,358

On behalf of the board

Mr L J Blanchard

Director

18 August 2026

The notes on pages 14 to 26 form part of these financial statements.

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Southern Structures Holdings Limited

Company Balance Sheet

As At 31 December 2025

Company Balance Sheet

Registered number: 13163563

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		808,924		802,262
Investments	14		202		202

			809,126		802,464
CURRENT ASSETS
Debtors	15	990,882		718,159
Cash at bank and in hand		5,492		155,239

		996,374		873,398
Creditors: Amounts Falling Due Within One Year	16	(638,871 )		(588,934 )

NET CURRENT ASSETS (LIABILITIES)			357,503		284,464

TOTAL ASSETS LESS CURRENT LIABILITIES			1,166,629		1,086,928

Creditors: Amounts Falling Due After More Than One Year	17		(464,684 )		(482,198 )

NET ASSETS			701,945		604,730

CAPITAL AND RESERVES
Called up share capital	22		1		1
Profit and Loss Account			701,944		604,729

SHAREHOLDERS' FUNDS			701,945		604,730

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 213,215 (2024: £ 243,858 profit).

On behalf of the board

Mr L J Blanchard

Director

18 August 2026

The notes on pages 14 to 26 form part of these financial statements.

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Southern Structures Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2025

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2024 as previously stated	1	1,642,014	1,642,015
Prior year adjustment	-	(37,560 )	(37,560 )

As at 1 January 2024 as restated	1	1,604,454	1,604,455
1,604,454

Profit for the year and total comprehensive income	-	484,903	484,903

Dividends paid	-	(116,000)	(116,000)

As at 31 December 2024 and 1 January 2025	1	1,973,357	1,973,358


Profit for the year and total comprehensive income	-	325,674	325,674

Dividends paid	-	(116,000)	(116,000)

As at 31 December 2025	1	2,183,031	2,183,032

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Southern Structures Holdings Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2025

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2024	1	476,871	476,872
Profit for the year and total comprehensive income	-	243,858	243,858

Dividends paid	-	(116,000)	(116,000)

As at 31 December 2024 and 1 January 2025	1	604,729	604,730


Profit for the year and total comprehensive income	-	213,215	213,215

Dividends paid	-	(116,000)	(116,000)

As at 31 December 2025	1	701,944	701,945

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Southern Structures Holdings Limited

Consolidated Cash Flow Statement

For The Year Ended 31 December 2025

Consolidated Cash Flow Statement

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,843,558	55,718
Interest paid		(123,961 )	(109,770 )
Tax paid		(6,245 )	-

Net cash generated from/(used in) operating activities		1,713,352	(54,052 )

Cash flows from investing activities
Purchase of tangible assets		(700,531 )	(1,741,049 )
Proceeds from disposal of tangible assets		7,045	17,598
Interest received		-	740

Net cash used in investing activities		(693,486 )	(1,722,711 )

Cash flows from financing activities
Equity dividends paid		(116,000 )	(116,000 )
Repayment of bank borrowings		(60,386 )	(133,562 )
Proceeds from new other loans		-	497,490
Repayment of other loans		(15,292)	-
Repayment of finance leases		(34,569 )	211,517
Amount withdrawn by directors		(232,675)	(92,106)

Net cash (used in)/generated from financing activities		(458,922 )	367,339



Increase/(decrease) in cash and cash equivalents		560,944	(1,409,424 )
Cash and cash equivalents at beginning of year	2	1,520,181	2,929,605

Cash and cash equivalents at end of year	2	2,081,125	1,520,181

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Southern Structures Holdings Limited

Notes to the Consolidated Cash Flow Statement

For The Year Ended 31 December 2025

Notes to the Consolidated Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	325,674	484,903
Adjustments for:
Tax on profit	118,377	118,681
Interest expense	123,961	109,770
Interest income	-	(740 )
Depreciation of tangible assets	651,704	610,949
Loss on disposal of tangible assets	4,749	9,377
Movements in working capital:
Decrease/(increase) in trade and other debtors	619,356	(529,760 )
Decrease in trade and other creditors	(263 )	(747,462 )

Net cash generated from operations	1,843,558	55,718

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	2,081,125	1,520,181

3. Analysis of changes in net funds

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	1,520,181	560,944	2,081,125
Finance leases	(821,306)	34,569	(786,737)
Debts falling due within one year	(75,678 )	58,164	(17,514 )
Debts falling due after more than one year	(482,198)	17,514	(464,684)

	140,999	671,191	812,190

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Southern Structures Holdings Limited

Company Cash Flow Statement

For The Year Ended 31 December 2025

Company Cash Flow Statement

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	21,639	464,930
Interest paid		(49,619 )	(33,264 )

Net cash (used in)/generated from operating activities		(27,980 )	431,666

Cash flows from investing activities
Purchase of tangible assets		(7,800 )	(802,262 )
Purchase of investment in subsidiary undertaking		-	(100 )
Interest received		-	740
Dividends received		250,000	200,000

Net cash generated from/(used in) investing activities		242,200	(601,622 )

Cash flows from financing activities
Equity dividends paid		(116,000 )	(116,000 )
Proceeds from new other loans		-	497,490
Repayment of other loans		(15,292)	-
Amount withdrawn by directors		(232,675)	(92,106)

Net cash (used in)/generated from financing activities		(363,967 )	289,384



(Decrease)/increase in cash and cash equivalents		(149,747 )	119,428
Cash and cash equivalents at beginning of year	2	155,239	35,811

Cash and cash equivalents at end of year	2	5,492	155,239

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Southern Structures Holdings Limited

Notes to the Company Cash Flow Statement

For The Year Ended 31 December 2025

Notes to the Company Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	213,215	243,858
Adjustments for:
Interest expense	49,619	33,264
Interest income	-	(740 )
Income from shares in group undertakings	(250,000)	(200,000)
Depreciation of tangible assets	1,138	-
Movements in working capital:
Decrease/(increase) in trade and other debtors	49,456	(184,278 )
(Decrease)/increase in trade and other creditors	(41,789 )	572,826

Net cash generated from operations	21,639	464,930

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	5,492	155,239

3. Analysis of changes in net debt

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	155,239	(149,747)	5,492
Debts falling due within one year	(15,292 )	(2,222)	(17,514 )
Debts falling due after more than one year	(482,198)	17,514	(464,684)

	(342,251)	(134,455)	(476,706)

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Southern Structures Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Southern Structures Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13163563 . The registered office is 24 Picton House Hussar Court, Waterlooville, Hampshire, PO7 7SQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

2.3. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The parent company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
the requirements of Section 26 Share-based Payment paragraphs 26.18 (b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

2.4. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the group and parent company's ability to continue as a going concern.

2.5. Significant judgements and estimations

In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

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.

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.7. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

Freehold property held for investment by the Company is held at fair value and not depreciated. Within the Group, freehold property is held at the equivalent fair value assessed by the company.

Freehold improvements are depreciated on a 2% straight line basis.

2.8. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.10. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

Turnover is attributable to the one principal activity of the company.

The directors believe there is only one material income stream from contracting services, 2025: £13,979,386 and 2024: £14,195,691.

4. Other Operating Income

	2025	2024
	£	£
Other operating income	434	316

	434	316

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	22,695	-
Depreciation of tangible fixed assets	651,704	610,949

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	17,500	17,000

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Wages and salaries	1,454,429	1,355,359	9,096	9,096
Social security costs	189,707	143,108	772	-
Other pension costs	75,833	60,643	-	-

	1,719,969	1,559,110	9,868	9,096

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Average Number of Employees

Group

Average number of employees during the year was: 29 (2024: 27)

Company

Average number of employees during the year was: 1 (2024: 1)

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	130,763	92,429
Company contributions to money purchase pension schemes	39,650	30,996

	170,413	123,425

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Other interest receivable type A	-	740

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	6,336	15,613
Interest payable on other loans	49,619	33,264
Finance charges payable under finance leases and hire purchase contracts	66,184	57,691
Late payment tax charges	1,822	3,202

	123,961	109,770

12. Tax on Profit

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

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	127,833	6,244
Deferred Tax
Deferred taxation			(9,456 )	112,437


Total tax charge for the period			118,377	118,681

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

Page 20

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	2025	2024
	£	£
Profit before tax	444,051	603,584

Tax on profit at 25% (UK standard rate)	112,478	151,025
Goodwill/depreciation not allowed for tax	164,113	155,082
Expenses not deductible for tax purposes	665	8,050
Tax losses utilised	-	(83,915 )
Capital allowances	(149,424 )	(223,467 )
Short term timing differences	(9,456 )	112,438
Difference in tax rates	1	(532 )

Total tax charge for the period	118,377	118,681

13. Tangible Assets

Group

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 January 2025	820,281	-	3,398,779	592,919
Additions	-	54,628	386,301	252,701
Disposals	-	-	-	(26,633 )

As at 31 December 2025	820,281	54,628	3,785,080	818,987

Depreciation
As at 1 January 2025	1,802	-	1,345,425	209,024
Provided during the period	-	848	539,746	101,085
Disposals	-	-	-	(14,839 )

As at 31 December 2025	1,802	848	1,885,171	295,270

Net Book Value
As at 31 December 2025	818,479	53,780	1,899,909	523,717

As at 1 January 2025	818,479	-	2,053,354	383,895


	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	37,004	37,262	4,886,245
Additions	-	6,901	700,531
Disposals	-	-	(26,633 )

As at 31 December 2025	37,004	44,163	5,560,143

...CONTINUED

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Depreciation
As at 1 January 2025	18,479	14,653	1,589,383
Provided during the period	3,705	6,320	651,704
Disposals	-	-	(14,839 )

As at 31 December 2025	22,184	20,973	2,226,248

Net Book Value
As at 31 December 2025	14,820	23,190	3,333,895

As at 1 January 2025	18,525	22,609	3,296,862

The freehold property is secured by way of a fixed charge with Lloyds Bank PLC.

Company

	Investment Properties	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2025	802,262	-	802,262
Additions	-	7,800	7,800

As at 31 December 2025	802,262	7,800	810,062

Depreciation
As at 1 January 2025	-	-	-
Provided during the period	-	1,138	1,138

As at 31 December 2025	-	1,138	1,138

Net Book Value
As at 31 December 2025	802,262	6,662	808,924

As at 1 January 2025	802,262	-	802,262

14. Investments

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2025	202

As at 31 December 2025	202

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	202

As at 1 January 2025	202

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Subsidiaries

Details of the group's subsidiaries as at 31 December 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Southern Structures Limited	24 Picton House, Hussar Court, Waterlooville, Hampshire, PO7 7SQ	Ordinary	100.00%	-
Southern Structures Plant Hire Limited	24 Picton House, Hussar Court, Waterlooville, Hampshire, PO7 7SQ	Ordinary	100.00%	-
Southern Concrete Structures Limited	24 Picton House, Hussar Court, Waterlooville, Hampshire, PO7 7SQ	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Southern Structures Limited	1,224,491	346,737
Southern Structures Plant Hire Limited	264,767	21,583

The principal activity of Southern Structures Limited is that of groundworks and construction services and the principal activity of Southern Structures Plant Hire Limited is that of plant and machinery hire. Southern Concrete Structures Limited is dormant.

15. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Due within one year
Trade debtors	1,063,856	1,094,134	-	-
Amounts owed by group undertakings	-	-	636,181	685,637
Other debtors	575,208	927,494	265,197	32,522

	1,639,064	2,021,628	901,378	718,159
Due after more than one year
Other debtors	89,504	-	89,504	-

	1,728,568	2,021,628	990,882	718,159

16. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	421,002	405,713	-	-
Trade creditors	1,974,399	2,134,365	79	54
Bank loans and overdrafts	-	60,386	-	-
Other loans	17,514	15,292	17,514	15,292
Amounts owed to group undertakings	-	-	528,303	570,117
Other creditors	460,951	316,009	100	100
Corporation tax	217,336	6,244	89,504	-
Taxation and social security	203,757	202,685	-	-
Accruals and deferred income	233,026	179,640	3,371	3,371

	3,527,985	3,320,334	638,871	588,934

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

17. Creditors: Amounts Falling Due After More Than One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	365,735	415,593	-	-
Other loans	464,684	482,198	464,684	482,198
Other creditors	25,238	60,818	-	-

	855,657	958,609	464,684	482,198

Of the creditors the following amounts are secured by way of a fixed charge with Lloyds Bank PLC.

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Other loans	482,198	497,490	-	-
Other Creditors	-	-	482,198	497,490

18. Loans

An analysis of the maturity of loans is given below:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Amounts falling due within one year or on demand:
Bank loans	-	60,386	-	-
Other loans	17,514	15,292	17,514	15,292

	17,514	75,678	17,514	15,292

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Amounts falling due between one and five years:
Other loans	464,684	482,198	464,684	482,198

19. Obligations Under Finance Leases and Hire Purchase

	Group
	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	421,002	405,713
Later than one year and not later than five years	365,735	415,593

	786,737	821,306

	786,737	821,306

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Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

20. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Accelerated capital allowances	576,914	586,370

21. Provisions for Liabilities

Group
	Deferred Tax	Total
	£	£
As at 1 January 2025	586,370	586,370
Deferred taxation	(9,456 )	(9,456 )

Balance at 31 December 2025	576,914	576,914

22. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 1.00 each	1	1

23. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £75,833 (2024: £60,643).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

24. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Luke Blanchard	32,522	357,771	(125,096 )	-	265,197

The above loan is unsecured and repayable on demand.

25. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	116,000	116,000

26. Related Party Disclosures

The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

Page 25

Page 26

Southern Structures Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

27. Controlling Parties

The company's ultimate controlling party is Mr L Blanchard by virtue of their interest in the share capital of the company.

Page 26