Registration number: 1382145

Newship Group Limited

Contents

Newship Group Limited

Company Information

Newship 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 company is that of a group holding company. The activities of the subsidiary companies are building and packaging.

Fair review of the business

Group turnover for the year was £192.0 million, which is lower than the previous year. The operating profit before interest charges was £15.5 million and, after interest charges of £0.3 million and other finance income of £1.4 million, the profit before taxation was £16.5 million. After tax the profit amounted to £11.9 million.

Packaging Division - Beatson Clark Ltd
Turnover for the year ended 31 December 2025 was £77.7 million, a decrease compared to the previous year. The profit before taxation amounted to £8.3 million (2024: £9.5 million). Despite challenges in the market, management remain cautiously positive regarding the future prospects. Key to the company's future success is the ongoing significant investment in the Rotherham facility.

Pont Packaging
The Pont group of businesses generated turnover of £112.9 million, an increase of 18.2% compared to the previous year allowing for exchange variances.
Management continue to seek out and invest in profitable new projects and markets.

On the 31st October 2025 Newship purchased Campbell & Tate group, in the two months to December they generated turnover of £1.1m.

Lewis & Towers Ltd
Turnover for the year was £42.6 million, an increase compared to last year which allowed the company to generate a small profit.

Johnsen & Jorgensen Ltd
Turnover for the year was £5.0 million and the company traded successfully in the year.

Building Division - Rollalong Ltd
Turnover for the year was £8.2m, reflecting very difficult conditions in the UK construction sector. As a result Rollalong recorded a loss for the year. Nevertheless the company continues to invest heavily in product development and takes its obligation to comply with regulatory changes very seriously. Management remains optimistic about the company's prospects, both in its existing markets and new potential markets, backed by Rollalong's market leading reputation for quality and safety.

James Gibbons Format Ltd
Turnover for the year ended 31 December 2025 was £2.6 million. Trading conditions remained challenging, but careful cost management allowed the business to generate a small profit in the year.

Newship Developments Ltd
Turnover for the year was £1.3million, trading conditions are challenging with little confidence in the domestic housing market. The directors remain confident that conditions will improve and the market confidence returns.

Newship Group Limited

Strategic Report for the Year Ended 31 December 2025

The company's key financial and other performance indicators during the year were as follows:

Principal risks and uncertainties

The Board consider the following to be the principal risks and uncertainties facing the business.

Energy costs – prices are monitored on a daily basis and forward contracts negotiated where appropriate with key suppliers.

Pension funding – the group maintains four defined benefit pension schemes, all of which are now closed to new entrants. All of the schemes have been closed to future accrual. Fluctuations in financial markets can affect the value of assets in the schemes and may result in the need to increase contributions to the schemes, with a consequent reduction in operating cash flows available for future investment in the business.

Insurance – the group endeavours to maintain adequate insurance levels for all appropriate insurable risks.

Major disruption / disaster – business continuity planning is reviewed regularly.

Competitive risk – the group is exposed to competitive risk in the markets in which it operates. The group constantly monitors prices and undertakes regular market research to mitigate these risks.

Regulatory changes - the group monitors forthcoming and current legislation and ensures compliance.

Section 172(1) statement

The directors are constantly making decisions that impact the business and its stakeholders. Part of the process is the assessment of the probable impact that their decisions have for both the short and medium to long term and how they may affect the wider group of stakeholders. Choices are balanced to ensure the continued viability of not only the company but the individual elements that make up the whole group.

Fundamental to the success of our businesses is the engagement of our employees and we are focusing our efforts on putting engagement at the heart of our strategy. We have invested in improving our organisational capabilities and hiring talent to ensure we fulfil our potential. We are also conscious of the diversity position across our employee base. We continue to develop the diversity of our team through our internal development and recruitment processes. We pay employees equally for equal roles. We remain committed to promoting apprenticeship schemes throughout the organisation, championing young talent and nurturing our experts of the future.

We strive to always act with integrity, transparency and professionalism. We look to do the right thing by our people, customers, suppliers and for our local communities to ensure our actions have a positive impact on society and the environment. Our sites are engaged in activities to take steps to support the local communities in which we operate. As an organisation, we hold ourselves to high ethical and business standards.

We strive to ensure that where we can we reduce our impact on both our neighbours and also the environment as a whole. We have tried where possible to concentrate our warehousing close to our production facility to reduce the movement of product and also the number of daily vehicle movements on the site and also across the wider area.

We strive to achieve the highest standards in all aspects of the business. Our aim is to project a professional persona delivering above and beyond expectations.

Newship Group Limited

Strategic Report for the Year Ended 31 December 2025

We are committed to employment policies that provide and promote equal employment opportunities for all our employees and applicants, and to maintaining a workplace that ensures tolerance, respect and dignity for all staff. No employee, applicant, contractor or temporary worker should be treated less favourably, victimised or harassed on the grounds of disability, sex, marital or civil partnership status, race, nationality, colour, ethnicity, religion or similar philosophical belief, sexual orientation, age or any distinction other than merit.

We continually review our procedures and our actions to proactively improve the way we do business and interact with all our stakeholders. We remain committed to the ethos of treating others in the manner and a way we would wish to be treated ourselves.

Engagement with employees

Fundamental to the success of our businesses is the engagement of our employees and we are focusing our efforts on putting engagement at the heart of our strategy. We have invested in improving our organisational capabilities, hiring talent to ensure we fulfil our potential. We are also conscious of the diversity position across our employee base. We continue to develop the diversity of our team through our internal development and recruitment processes. We pay employees equally for equal roles. We remain committed to promoting apprenticeship schemes throughout the organisation, championing young talent and nurturing our experts of the future.

Engagement with suppliers, customers and other relationships

We strive to always act with integrity, transparency and professionalism. We look to do the right thing by our people, customers, suppliers and for our local communities to ensure our actions have a positive impact on society and the environment. Our sites are engaged in activities to take steps to support the local communities in which we operate. As an organisation, we hold ourselves to high ethical and business standards.

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:
 

Newship Group Limited

Directors' Report for the Year Ended 31 December 2025

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

Directors of the group

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

RJ Newman

J W Newman

A J Parker

S E Leach

N A Brice (resigned 31 December 2025)

L J Newman

Dividends
The directors paid a final dividend relating to 2024 of £8,366.35 per ordinary share and an interim dividend in respect of 2025 of £54,347.83 per B ordinary share for the current financial year (2024: £2,466.66).

Objectives and policies

Financial risk management objectives and policies

Financial risk - the group uses vanilla financial instruments to help manage liquidity, foreign currency and working capital risks. These include overdrafts, cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main risks arising from the group's financial instruments are interest rate risk, liquidity risk and currency risk. The directors review and agree policies for managing each of these
risks and they are summarised below.

Interest rate risk - the group finances its operation through a mixture of retained profits, bank overdrafts and borrowing from group companies. The group's exposure to interest rate fluctuations on its borrowings is managed by the use of both fixed and floating facilities.

Liquidity risk - the group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest any cash assets safely and profitably. Short term flexibility is achieved by overdraft facilities. Debt is structured so repayments can be made out of cash generated through operations.

Currency risk - the group is exposed to transaction foreign exchange risk. These exposures, including those associated with forecast transactions, are hedged when known using forward currency contracts. Whilst the aim is to achieve an economic hedge the group does not adopt an accounting policy of hedge accounting for these financial statements.

Employment of disabled persons

Newship Group Limited

Directors' Report for the Year Ended 31 December 2025

Employee involvement

Future developments

Packaging
The difficult global economic situation is expected to continue to present challenges and opportunities for all of the packaging division companies in 2026. The key to future success for the division lies in its ongoing commitment to product innovation. However the timing of orders remains unpredictable.

Building
Rollalong Ltd looks forward to 2026 with a number of interesting opportunities. James Gibbons Format Ltd remains committed to growth in both its UK and its export markets. Newship Developments Ltd is actively considering future development opportunities and remains committed to building high quality homes that delight our customers.

Research and development

The group places a strong emphasis on research and development which is needed to expand the scope of the products and manufacturing facilities and techniques required to meet the changing demands of the customers and the markets which it serves.

Environmental matters

Streamlined energy and carbon reporting (SECR)
Under The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, together with the accompanying government guidance ‘Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance March 2019’, the group is required to report on its energy consumption.
The SECR disclosure represents the group carbon footprint within the UK across scope 1 and 2 emissions along with a relative intensity ratio.
Intensity ratio measurement
In accordance with the legislation an intensity ratio has been calculated which expresses the company’s annual emissions in relation to a quantifiable factor or normaliser. The ratio chosen is tonnes of CO2e per £m of turnover.

Newship Group Limited

Directors' Report for the Year Ended 31 December 2025

Energy efficiency action summary

Newship Group Limited continues to achieve direct savings in energy and associated carbon emissions through operational and technological improvements including the following across all group companies:
• Reduction in commuting and business travel (some hybrid working / video conferencing)
• Energy efficiency via LED light installations including motion sensors
• Procurement of green energy
• Transition to hybrid, plug-in hybrid and electric vehicle fleet
• Ongoing educational awareness and training

Beatson Clark Limited
• All CAPEX decisions made with energy efficiency in mind
• 96% of site waste is recycled
• Product is 100% infinitely recyclable
• Over 75% of Beatson’s post-consumer recycled glass (cullet) is generated by an onsite recycling plant, processing 35,500 tonnes of used glass per annum
• Including the recycling of its own internally generated glass waste, Beatson’s recycled content amounts to more than 60% of total production
• Raw materials (sand, soda ash and limestone) are all locally sourced
• New designs favour lightweight products wherever possible

Other group companies
• Route planning software to optimise customer deliveries
• Filtered water units throughout to discourage use of plastic bottles
• Exploring the introduction of PV panels to generate on-site energy
• Exploring the rollout of electric forklift trucks
• Installation of EV chargers for employees, suppliers and customers
• Refurbishment of older factory roof to include modern insulation, reducing the space heating load on the building
 

Methodology Statement 2025
Our SECR disclosure can be found in the Annual Reports and Accounts. In that disclosure the methodology that we used in compiling our data is briefly introduced. For those readers that are interested, the purpose of this document is to supplement that commentary with a more detailed explanation of how we compile the data used to report our energy and carbon impacts.

Methodology and boundary
Calculations follow HM Government Environmental Reporting Guidelines using UK Government GHG conversion factors. The organisational boundary is based on financial control, and the data is presented on a consolidated basis for UK operations. Scope 1 emissions include direct emissions from fuel used in production equipment and boilers,. Scope 2 emissions include indirect emissions from purchased gas and electricity (location-based) and company-controlled vehicles.

Newship Group Limited

Directors' Report for the Year Ended 31 December 2025

Directors' liabilities

Disclosure of information to the auditor

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Cooper Parry Group Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:
 

Newship Group Limited

Statement of Directors' Responsibilities

Newship Group Limited

Independent Auditor's Report to the Members of Newship Group Limited

Opinion

We have audited the financial statements of Newship 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 Statement of Comprehensive Income, Consolidated Balance Sheet, company Balance Sheet, Consolidated Statement of Changes in Equity, company Statement of Changes in Equity, 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:

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 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 director's 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 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 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Newship Group Limited

Independent Auditor's Report to the Members of Newship Group Limited

Opinion on other matter prescribed by the Companies Act 2006

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

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 its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 9, 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 Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

Newship Group Limited

Independent Auditor's Report to the Members of Newship Group Limited

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. 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.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

......................................
Paul Hodgett BA (Hons) FCA (Senior Statutory Auditor)
For and on behalf of Cooper Parry Group Limited, Statutory Auditor
 Broadwalk House
5th Floor
5 Appold St
London
EC2A 2AG

9 April 2026

Newship Group Limited

Consolidated Profit and Loss Account for the Year Ended 31 December 2025

Newship Group Limited

Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025

Newship Group Limited

(Registration number: 1382145)
Consolidated Balance Sheet as at 31 December 2025

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:
 

Newship Group Limited

(Registration number: 1382145)
Company Balance Sheet as at 31 December 2025

The company's profit and total comprehensive income for the year was £11,472,000 (2024: £1,221,000) and (£111,000) loss (2024: £17,000) respectively.

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:
 

Newship Group Limited

Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company

Newship Group Limited

Company Statement of Changes in Equity for the Year Ended 31 December 2025

Newship Group Limited

Consolidated Statement of Cash Flows for the Year Ended 31 December 2025

Newship Group Limited

Consolidated Statement of Cash Flows for the Year Ended 31 December 2025

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

The company is a private limited company limited by share capital incorporated and domiciled in England and Wales.

The address of its registered office and principal place of business is:
Fernside Place
179 Queens Road
Weybridge
Surrey
KT13 0AH
United Kingdom

These financial statements were authorised for issue by the Board on 31 March 2026.

The principal activity of the company is that of a holding company. The activities of the subsidiary companies are building and packaging products.

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 - Company
The company has taken advantage of the exemption from disclosing the following information, as permitted by the reduced disclosure regime within FRS 102:

• Section 7 ‘Statement of Cash Flows’ - Presentation of a Statement of Cash Flow and related notes and disclosures.
• Section 33 ‘Related Party Disclosures’ - Compensation for key management personnel.

Statement of compliance

Basis of preparation

Basis of consolidation

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Company statement of comprehensive income
As permitted by s408 Companies Act, the company has not presented its own statement of comprehensive income.
The company's profit and total comprehensive income for the year were £11,472,000 (2024: £1,221,000) and £111,000 deficit (2024: 17,000), respectively.

Judgements

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Pension scheme
Significant impacts arise within the financial statements as a result of the changes in the assumptions in respect of the valuation of the pension schemes. In order to obtain a fair valuation, the directors take advice from external actuaries as to the assumptions to be used taking account of market data and conditions at the year end.
The liabilities can be very sensitive to changes in the assumptions. However, following the purchase of the buy-in policy, any change to the liabilities due to changes in assumptions will be matched by an equal and offsetting change in the value of the Scheme’s assets..

Deferred taxation
Deferred tax assets and liabilities are assessed on the basis of assumptions regarding the future, the likelihood that assets will be realised and liabilities will be settled, and estimates as to the timing of those future events and as to the future tax rates that will be applicable.

Leases
In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the group as lessee, or the lessee, where the group is a lessor.

Going concern

At the time of approving the financial statements, based on trading results and future cash flow forecasts, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from time of approval. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Contract revenue recognition

Long term contracts
The attributable profit on long-term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project.

Costs associated with long-term contracts are included in stock or amounts recoverable on contracts to the extent that they cannot be matched with contract work accounted for as turnover. Long-term contract balances included in stocks are stated at cost, after provision has been made for any foreseeable losses and the deduction of applicable payments on account.

Full provision is made for losses on all contracts in the year in which the loss is first foreseen.

Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the lease. The aggregate cost of incentives provided to lessees is recognised as a reduction of rental income over the lease term on a straight-line basis.

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Government grants

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

The financial statements of overseas subsidiary undertakings are translated at the balance sheet date. The exchange differences arising on the retranslation of opening net assets are taken directly to reserves. All other translation differences are taken to the profit and loss account with the exception of differences on foreign currency borrowings to the extent that they are used to finance or provide a hedge against group equity investments in foreign enterprises. Tax charges and credits attributable to exchange difference on the net investment in these enterprises. Tax charges and credits attributable to exchange differences on those borrowings are also taken to reserves.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tangible assets

Depreciation

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

The group as lessee - operating leases

All leases are operating leases and annual rents are charged to profit and loss on a straight line basis over the lease term.

The group as lessor - operating leases

Rental income from assets leased under operating leases is recognised on a straight line basis over the term of the lease. Rent free periods or other incentives given to the lessee are accounted for as a reduction to the rental income and recognised on a straight line basis over the lease term.

Investment property

Investment property is initially held at cost and subsequently measured at fair value through profit and loss. The investment property comprises long leasehold and freehold land and buildings. The fair value of the property has been arrived at on the basis of the returns generated by the property.

Business combinations

Goodwill

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Amortisation

Investments

Stocks

Cash and cash equivalents

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the group is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the profit and loss account.

Financial assets

Trade debtors

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Financial liabilities and equity

Trade creditors

Borrowings

Leases

Share capital

Dividends

Defined contribution pension obligation

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Defined benefit pension obligation

The analysis of the group's Turnover for the year from continuing operations is as follows:

Total contract revenue recognised in the year, and included within Rendering of services, was £8,510,000 (2024: £29,625,000).

The analysis of the group's turnover for the year by class of business is as follows:

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

The analysis of the group's turnover for the year by market is as follows:

Arrived at after charging/(crediting)

The group has benefited from the receipt of capital investment grants.
Grant income is the unwinding of a regional development grant received by the group towards the rebuilding of one of the furnaces. The income is being recognised over the life of the furnace.

The amount of grants recognised in the financial statements was £Nil (2024 - £139,000).

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

The aggregate payroll costs (including directors' remuneration) were as follows:

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

Group

The directors' remuneration for the year was as follows:

Employers national insurance paid on the above remuneration was £77,000 (2024: £69,000).

In respect of the highest paid director:

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Tax charged/(credited) in the consolidated 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 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

Newship Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Deferred tax

Group

Deferred tax assets and liabilities