REGISTERED NUMBER: NI606238 (Northern Ireland)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2026

for

Lowry Building & Civil Engineering Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

8

Report of the Independent Auditors

11

Income Statement

14

Other Comprehensive Income

15

Balance Sheet

16

Statement of Changes in Equity

17

Cash Flow Statement

18

Notes to the Cash Flow Statement

19

Notes to the Financial Statements

20

DIRECTORS:

Mr SJI Lowry

Mrs HE Lowry

REGISTERED OFFICE:

92 Drumquin Road

Castlederg

Co. Tyrone

BT81 7RB

REGISTERED NUMBER:

NI606238 (Northern Ireland)

AUDITORS:

Tyrone Accountancy Services

8-10 Church Street

Omagh

Co. Tyrone

BT78 1DG

BANKERS:

Ulster Bank

29 Abercorn Square

Strabane

Co. Tyrone

BT82 8AQ

SOLICITORS:

Peden & Reid

22 Callender Street

Belfast

Co. Antrim

BT1 5BU

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS

The Company's principal activity continued to be that of building, civil engineering, maintenance and specialist construction services throughout Northern Ireland.

The Company delivers a comprehensive range of services across the construction sector, with expertise in building, civil engineering, facilities management and demolition projects. These services are provided to both public and private sector clients and encompass a broad range of developments including educational facilities, hospitality projects, commercial buildings, water treatment and distribution infrastructure, healthcare facilities and other essential infrastructure works.

Throughout the year, the Company remained focused on delivering high quality projects safely, efficiently and sustainably, maintaining its reputation as one of Northern Ireland's leading construction contractors. A disciplined approach to project delivery, underpinned by strong client relationships, effective risk management and a commitment to operational excellence, continued to support successful outcomes across all business divisions.

The directors are pleased to report another year of strong financial and operational performance. Turnover increased by 16% to £67.0 million (2025: £57.6 million), reflecting continued growth across the Company's core sectors, the successful delivery of major projects and the strengthening of long standing client relationships. Profit before taxation increased to £6.7 million (2025: £5.7 million), representing a year-on-year increase of 18%, demonstrating the Company's ability to maintain profitability whilst operating within a competitive and evolving market environment.

The balance sheet remains robust, with net assets increasing to £29.1 million at 31 March 2026 (2025: £23.9 million). The Company's strong financial position provides a solid platform for future investment, supports ongoing operational requirements and enables the business to pursue strategic growth opportunities.

During the year, the Company continued to invest in its people, operational systems and management processes, recognising that a skilled workforce and strong governance framework are essential to sustaining long term success. Health and safety, quality assurance, environmental responsibility and client satisfaction remain central to the Company's culture and business strategy.

The construction sector continued to experience a range of challenges, including inflationary pressures, labour availability concerns and ongoing supply chain volatility. Despite these challenges, the Company delivered a performance which exceeded management expectations, supported by a diversified project portfolio, an expanding client base and continued demand for high quality construction and infrastructure services.

Looking forward, the directors remain confident in the Company's prospects. The business enters the new financial year with a strong order book, an established market presence and a pipeline of opportunities across its key sectors. The directors believe that the Company's reputation, experienced management team, financial strength and commitment to delivering best-in-class performance position it well for continued sustainable growth in the years ahead.

The company's key performance indicators are as follows:

2026

2025

Turnover

£67.0m

£57.6m

Profit before tax

£6.7m

£5.7m

Net assets

£29.1m

£23.9m

REVIEW OF BUSINESS

Awards and Accreditations

Lowry Building & Civil Engineering Ltd have achieved the following industry standard accreditations:

o Safe T Cert (Health & Safety)

o ISO9001 (Quality)

o ISO14001 (Environmental)

o ISO44001 (Collaborative Business Relationship Management)

o Investors In People

o Cyber Essentials

o Constructionline Gold

o CITB NI Registered

o Northern Ireland Demolition Association (NIDA)

o National House Building Council (NHBC)

o Construction Employers Federation (CEF)

o Federation of Master Builders (FMB)

o Northern Ireland Safety Group (NISG)

o Build Health Member

o Federation of Master Builders Award Winner 2025

o Construction Employers Federation Awards Shortlist 2025

o Plant & Civil Engineer Awards Winner 2025

o Belfast Telegraph Award Winner 2026

o RICS Award Shortlist 2026

o NI Construction Awards Shortlist 2026

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors regularly review the principal risks and uncertainties facing the business and implements appropriate policies and procedures to manage and mitigate those risks where possible. Whilst no new material risks emerged during the financial year, the Company continues to operate within a dynamic and competitive construction market and remains subject to a range of financial and operational risks.

The Company's diversified service offering across building, civil engineering, facilities management and demolition, together with its broad client base across both public and private sectors, helps reduce reliance on any single market, customer or project.

Market and Economic Risk

The Company operates within the construction sector, which is influenced by wider economic conditions, levels of public sector expenditure, private sector investment, inflation and business confidence. Reductions in available construction spending or delays in project approvals may impact future workloads and profitability. The Company seeks to mitigate this risk through maintaining a diversified portfolio of projects, strong client relationships and a healthy forward order book.

Contract and Project Delivery Risk

Construction projects are subject to a range of delivery risks including programme delays, unforeseen ground conditions, design changes, subcontractor performance issues, adverse weather conditions and contractual disputes. These factors may affect project margins and cash flow. The Company manages these risks through robust tendering procedures, experienced project management teams, regular contract reviews and ongoing monitoring of operational performance.

Credit risk

The Company's credit risk is primarily attributable to trade debtors and amounts recoverable on contracts. Credit risk is managed through comprehensive credit assessments of new customers, ongoing monitoring of customer payment performance and regular review of outstanding balances. Due to the nature of the Company's client base, which includes a significant proportion of public sector and established commercial customers, management considers credit risk to be well controlled.

Liquidity risk

The Company's exposure to interest rate risk arises principally from financing arrangements used in the acquisition of plant and equipment. Exposure is limited as borrowing levels remain low and financing arrangements are generally entered into at fixed rates of interest. The Directors continue to monitor market conditions and future borrowing requirements on an ongoing basis..

Interest rate risk

The Company's exposure to interest rate risk arises principally from financing arrangements used in the acquisition of plant and equipment. Exposure is limited as borrowing levels remain low and financing arrangements are generally entered into at fixed rates of interest. The Directors continue to monitor market conditions and future borrowing requirements on an ongoing basis.

Supply Chain Risk

The Company relies on a network of suppliers and subcontractors to support project delivery. Disruption within the supply chain, insolvency of key suppliers, labour shortages or significant increases in material costs may adversely affect project performance and profitability. The Company mitigates these risks through regular supplier assessments, maintaining established relationships with key subcontractors and monitoring procurement activities throughout project lifecycles.

People and Skills Risk

The construction industry continues to experience challenges in attracting and retaining skilled personnel. Labour shortages, wage inflation and increased competition for experienced staff may impact delivery capacity and operational performance. The Company remains committed to investing in employee development, training, apprenticeships and succession planning to support future growth and workforce stability.

Health, Safety and Environmental Risk

Maintaining the health, safety and wellbeing of employees, subcontractors and the public remains a core priority of the business. Failure to maintain appropriate standards could result in injury, regulatory action, financial penalties and reputational damage. The Company maintains comprehensive health and safety procedures, training programmes and monitoring systems to promote a strong safety culture throughout the organisation.

Environmental compliance and sustainability requirements continue to evolve. The Company monitors developments in environmental regulation and client expectations and seeks to minimise its environmental impact through effective management systems and responsible operational practices.

Regulatory and Compliance Risk

The Company is subject to a range of legal, contractual and regulatory obligations including those relating to health and safety, employment law, procurement, taxation and environmental matters. Failure to comply with such requirements could result in financial or reputational consequences. Appropriate policies, professional advice and governance procedures are maintained to support ongoing compliance.

Cyber Security and Information Technology Risk

The Company's operations are increasingly dependent on information technology systems and digital communication. Cyber security threats, data breaches or system failures could result in operational disruption, financial loss or reputational damage. The Company maintains appropriate security controls, backup procedures and monitoring systems designed to protect its information assets and ensure business continuity.

Outlook

The directors believe that the Company's strong financial position, experienced management team, diversified service offering, established client relationships and robust risk management framework provide a solid foundation from which to manage the risks and uncertainties facing the business. The Company remains well positioned to pursue sustainable growth opportunities across its core markets.

SECTION 172(1) STATEMENT

Our section 172 statement summarises how the Board has factored stakeholder considerations into our decision-making.

Section 172 of the Companies Act 2006 (the Act) imposes a duty on a director to act in a way that he or she considers, in good faith, would be most likely to promote the long-term success of the company for the benefit of its members as a whole. In doing so, the directors have regard to the various matters including the interests of stakeholders as well as various other matters. The Companies (Miscellaneous Reporting) Regulations 2018 require companies to report on how the Board has fulfilled the requirements of Section 172(1), including how the Board has factored stakeholder considerations into its decision-making.

The Board is fully aware of and supports these requirements. We are pleased to describe below how the Board engages with our stakeholders.

The Company's key stakeholders have an important role to play in the successful operation of our business. Our Board are fully aware of, and take seriously, their responsibilities to those stakeholders under the Act.

We believe that it is appropriate to consider the potential impact on our stakeholders when considering the Company's strategy and in making our key decisions. Indeed, these responsibilities are rooted in our culture, values and company purpose.

The Board considers that, in its decisions and actions to date, it has acted in a way that would promote the success of the Company for the benefit of its members as a whole, while having regard to stakeholders and matters set out in Section 172(1) (a-f] of the Act. It has identified the Company's key stakeholders as our employees, customers, suppliers and vendors, the environment and communities in which we operate. It monitors each of these and takes steps to ensure that it remains well informed about them.

The Company Directors believe strongly in doing business in the right way, with all decisions underpinned by the impact they have on our five main stakeholder groups.

We will continue to consider our stakeholders in the year ahead as the Board makes further decisions in overseeing the Company's strategy. The following narrative summarises our approach.

The likely consequences of any decision in the long term

The Board has put in place a structured governance model, with scheduled Board meetings and clear documentation and authority levels to control its decision-making process. Our governance model supports the Company in ensuring that decisions are considered, documented and reported upon, and in alignment with our strategic plans. Detailed budgets and reforecasts are prepared to enable the Board to track performance and ensure that it is as expected, or that mitigation steps are taken to deliver performance in line with, or close to, expectations. The Board operates within this structure, with the aim of promoting the success of the Company and delivering long-term shareholder value. Business proposals are documented in line with, and performance tracked against, levels of authority.

The interest of the Company's employees

We consider that our employees act with the utmost integrity and professional expertise for the successful delivery of contracts to meet our customer expectations. In doing so, the Board considers that its employees are both rewarded fairly and incentivised to deliver the Company's strategy. The company offer a range of training and development opportunities for employees at all levels. The Company has a wellbeing committee to support and encourage the wellbeing of all employees.

The Board is kept informed on employee-related matters at every Board meeting at which it receives a standing agenda update from senior management. Consultation with employees happens when their views need to be considered in decisions the Company needs to make that will likely affect their interests. There is also ongoing communication through the daily interaction of all levels of staff.

The need to foster the Company's business relationships with suppliers, customers and others

At each board meeting, as part of a standing agenda item, the Board regularly reviews how the Company maintains positive relationships with all of its stakeholders, including suppliers, customers and others.

The need to foster the Company's business relationships with suppliers, customers and others (continued)

For customers, this could be through the ongoing valuation process or from feedback received from our team. We take this information into account so that we are able to be confident that we have identified the appropriate customer needs that require addressing. From a risk management perspective, before entering into business with new customers full background checks are carried out which include reviews for potential financial risks.

We have built good relationships with our suppliers. Our materials, components and stock items are all carefully specified, and our suppliers are evaluated in accordance with our guidelines on the environment, work environment, human rights, business ethics and quality. The Board places the utmost importance on the integrity of our supplier agreements with a focus on the robustness of supply of goods and services. All third-party suppliers are regularly scrutinised so as to ensure that there are no matters that could potentially harm our reputation or be financially damaging to us. All agreements with third parties are set out in writing with clearly documented terms and conditions that cover, amongst other things, levels of service, payment terms and working practices. It is the Company's policy that all agreements over a specified amount are reviewed by the Board.

Other third parties that are of great importance to the Company include our professional advisers, bankers and our various regulators.

The impact of the Company's operations on the community and the environment

Our underlying business ethos is to do what is right ahead of what is easy. This is especially so when it comes to the local communities in which we operate and the impact that we have on the environment in which we all live. We actively encourage all of our employees to give back to community in whichever way they feel the most comfortable.

Our Board and our senior management colleagues are cognisant of the effect that our operations and those who provide us with goods and services have on the environment and seek to minimise our impact. We aim to ensure that our physical locations are as energy efficient as possible through ongoing Board consideration.

The desirability of the Company maintaining a reputation for high standards of business conduct

We have a Code of Conduct setting out the behaviours and values expected of all of our colleagues, which we communicate to all colleagues and third parties. We have processes to update our Board and management on the operation of our code. Through its oversight and monitoring role, the Board requires all of our people to work to the highest standards of business conduct. Our focus is to maintain our strong reputation for the highest standard of business conduct, which is a key priority. This is supported through ongoing communication and awareness of, and training in, acceptable company conduct. Any reports of inappropriate behaviour are independently investigated, and action taken where necessary.

The need to act fairly between members of the Company

The Company is a family-owned business, which has grown to become one of the leading contractors in Northern Ireland. The Board comprises of a mix of Shareholders and non-shareholders who oversee various disciplines of the business, however have one common goal which is the long-term success of the Company.

ON BEHALF OF THE BOARD:

Mrs HE Lowry - Director

23 July 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of building, civil engineering and maintenance.

The Company provides expert commercial construction services principally throughout Northern Ireland, with core capabilities in building, civil engineering, facilities management and demolition. The Company operates across a diverse range of sectors including education, healthcare, commercial, leisure and tourism, community, industrial and utilities.

Through its experienced workforce and established supply chain, the Company delivers projects for both public and private sector clients and remains committed to maintaining the highest standards of quality, safety and customer service.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2026 will be £1,000 (31 March 2025 £1,000).

FUTURE DEVELOPMENTS

The directors remain confident regarding the Company's future prospects. The business enters the new financial year with a strong order book, an established client base and a healthy pipeline of opportunities across its core sectors.

The Company's strategy is focused on securing profitable and sustainable growth while maintaining its reputation for delivering high quality projects safely, on time and within budget. The directors will continue to invest in the Company's people, assets, technology and operational systems to support future growth and enhance efficiency.

The Company will also continue to build upon its long established relationships with clients, consultants, suppliers and subcontractors while seeking opportunities to expand its presence across existing and emerging markets. Whilst economic conditions and industry challenges continue to evolve, the directors believe that the Company's strong financial position and proven track record place it in a favourable position for continued success.

EVENTS SINCE THE END OF THE YEAR

The directors are not aware of any matters or circumstances arising since 31 March 2026 that have materially affected, or may materially affect, the operations, results or financial position of the Company. Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

Mr SJI Lowry

Mrs HE Lowry

The directors collectively possess significant experience across the construction, engineering and commercial sectors and continue to provide strategic direction and oversight to support the long-term success of the Company.

FINANCIAL INSTRUMENTS

The Company's principal financial instruments comprise cash and bank balances, trade and other receivables, trade and other payables, and hire purchase and asset finance agreements. These financial instruments are used to support the Company's day to day operations and capital investment requirements.

The Company's financial risk management objectives are focused on safeguarding its assets, maintaining adequate liquidity and managing exposure to financial risks arising in the normal course of business. Exposure to credit risk, liquidity risk and interest rate risk is managed through established treasury and financial control procedures and is discussed further within the Principal Risks and Uncertainties section of the Strategic Report.

The Company does not undertake speculative transactions and has no significant exposure to foreign currency risk.

POLITICAL DONATIONS AND EXPENDITURE

The company did not make any donations for political purposes during the year (2025: £Nil).

DIRECTORS INDEMNITIES

As permitted by the Companies Act 2006, the Company has indemnified the directors in respect of proceedings brought by third parties and qualifying third party indemnity insurance was in place throughout the year and up to the date of approval of the financial statements.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The Company recognises that strong relationships with customers, suppliers, subcontractors, employees and the wider communities in which it operates are fundamental to its long term success.

The Company is committed to conducting business fairly and responsibly and seeks to maintain collaborative and mutually beneficial relationships with all stakeholders. Regular communication, engagement and performance reviews help ensure that customer expectations are met, supplier relationships are developed and opportunities for continuous improvement are identified.

The Company also seeks to support local supply chains where appropriate and works closely with subcontractors and suppliers to promote safe working practices, quality standards and sustainable business operations.

Further details regarding stakeholder engagement and how the directors have discharged their duties under Section 172 of the Companies Act 2006 are included within the Company's Section 172 Statement contained in the Strategic Report.

STREAMLINED ENERGY AND CARBON REPORTING

The Company is committed to environmental sustainability and recognises the importance of understanding, managing and reducing the environmental impact of its operations. In accordance with the Streamlined Energy and Carbon Reporting (SECR) Regulations, the Company measures and reports its energy consumption and greenhouse gas emissions to support informed decision making and drive continuous improvement in environmental performance. The Company uses the latest UK Government greenhouse gas conversion factors applicable to the reporting period, ensuring that emissions are reported accurately and consistently on a year-on-year basis. Standardised data collection methods and reporting procedures are applied across the business and are aligned with the Company's ISO 14001 accreditation, supporting the reliability, consistency and continual improvement of environmental performance reporting. The reported emissions comprise Scope 1 emissions from diesel and kerosene consumption and Scope 2 emissions from purchased electricity. The Company continues to strengthen its environmental reporting processes and is currently developing a robust methodology for the identification, collection and reporting of Scope 3 greenhouse gas emissions across its value chain. Scope 3 emissions have not been included within the current year's disclosure, however, the Company intends to expand reporting coverage in future years as the quality of underlying data and reporting processes are further enhanced.

2026

Total Energy Usage (Kwh)

2,091,484

Scope 1 - Tonnes CO2e

Diesel

493.1

Kerosene

27.8

Total scope 1

520.9

Intensity Ratio

The company's chosen intensity metric is tonnes of CO2e per £million of turnover.

Total emissions (tCO2e)

527.5

Turnover

67.0

Intensity ratio (tCO2e/£m)

7.9

Energy efficiency initiatives undertaken during the year included the introduction of electric vehicles to the Company fleet and the installation of on-site solar photovoltaic panels to reduce reliance on diesel powered generators and associated carbon emissions.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards 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's transactions and disclose with reasonable accuracy at any time the financial position of 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that each director 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 auditors are aware of that information.

AUDITORS

The auditors, Tyrone Accountancy Services, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs HE Lowry - Director

23 July 2026

Opinion

We have audited the financial statements of Lowry Building & Civil Engineering Ltd (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 company's affairs as at 31 March 2026 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

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

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

-	the 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 ten, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the officers and other management (as required by auditing standards).

We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation.

We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the officers.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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

Use of our report

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

Ruairi Dundas (Senior Statutory Auditor)

for and on behalf of Tyrone Accountancy Services

8-10 Church Street

Omagh

Co. Tyrone

BT78 1DG

23 July 2026

TURNOVER

3

66,950,541

57,597,508

Cost of sales

54,808,599

45,785,091

GROSS PROFIT

12,141,942

11,812,417

Administrative expenses

6,206,433

6,824,947

5,935,509

4,987,470

Other operating income

152,735

64,421

OPERATING PROFIT

6

6,088,244

5,051,891

Interest receivable and similar income

657,060

678,994

6,745,304

5,730,885

Interest payable and similar expenses

8

2,946

2,946

PROFIT BEFORE TAXATION

6,742,358

5,727,939

Tax on profit

9

1,543,805

1,423,602

PROFIT FOR THE FINANCIAL YEAR

5,198,553

4,304,337

PROFIT FOR THE YEAR

5,198,553

4,304,337

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

5,198,553

4,304,337

FIXED ASSETS

Tangible assets

11

1,936,535

2,810,480

Investments

12

14,000,301

201

Investment property

13

-

129,187

15,936,836

2,939,868

CURRENT ASSETS

Stocks

14

836,861

818,791

Debtors

15

28,306,135

25,746,802

Cash at bank

6,926,348

12,228,633

36,069,344

38,794,226

CREDITORS

Amounts falling due within one year

16

22,470,351

17,447,757

NET CURRENT ASSETS

13,598,993

21,346,469

TOTAL ASSETS LESS CURRENT LIABILITIES

29,535,829

24,286,337

CREDITORS

Amounts falling due after more than one year

17

-

(6,000

)

PROVISIONS FOR LIABILITIES

19

(459,984

)

(402,045

)

NET ASSETS

29,075,845

23,878,292

CAPITAL AND RESERVES

Called up share capital

20

2

2

Retained earnings

21

29,075,843

23,878,290

SHAREHOLDERS' FUNDS

29,075,845

23,878,292

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

Mrs HE Lowry - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2024

2

19,574,953

19,574,955

Changes in equity

Dividends

-

(1,000

)

(1,000

)

Total comprehensive income

-

4,304,337

4,304,337

Balance at 31 March 2025

2

23,878,290

23,878,292

Changes in equity

Dividends

-

(1,000

)

(1,000

)

Total comprehensive income

-

5,198,553

5,198,553

Balance at 31 March 2026

2

29,075,843

29,075,845

Cash flows from operating activities

Cash generated from operations

1

9,297,548

7,521,280

Interest element of hire purchase payments paid

(2,946

)

(2,946

)

Tax paid

(1,424,539

)

(1,250,974

)

Net cash from operating activities

7,870,063

6,267,360

Cash flows from investing activities

Purchase of tangible fixed assets

(714,634

)

(652,822

)

Purchase of fixed asset investments

(14,000,100

)

-

Sale of tangible fixed assets

791,339

97,040

Sale of investment property

129,187

398,584

Interest received

657,060

678,994

Net cash from investing activities

(13,137,148

)

521,796

Cash flows from financing activities

Capital repayments in year

(35,200

)

(36,000

)

Amount introduced by directors

1,000

858,780

Amount withdrawn by directors

-

(850,193

)

Equity dividends paid

(1,000

)

(1,000

)

Net cash from financing activities

(35,200

)

(28,413

)

(Decrease)/increase in cash and cash equivalents

(5,302,285

)

6,760,743

Cash and cash equivalents at beginning of year

2

12,228,633

5,467,890

Cash and cash equivalents at end of year

2

6,926,348

12,228,633

1.	RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS

31.3.26

31.3.25

£

£

Operating profit

6,088,244

5,051,891

Depreciation charges

462,284

421,928

Loss/(profit) on disposal of fixed assets

334,955

(51,016

)

6,885,483

5,422,803

Increase in stocks

(18,070

)

(188,899

)

(Increase)/decrease in trade and other debtors

(2,559,333

)

2,482,282

Increase/(decrease) in trade and other creditors

4,989,468

(194,906

)

Cash generated from operations

9,297,548

7,521,280

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

6,926,348

12,228,633

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

12,228,633

5,467,890

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank

12,228,633

(5,302,285

)

6,926,348

12,228,633

(5,302,285

)

6,926,348

Debt

Finance leases

(42,000

)

35,200

(6,800

)

(42,000

)

35,200

(6,800

)

Total

12,186,633

(5,267,085

)

6,919,548

1.	STATUTORY INFORMATION

Lowry Building & Civil Engineering Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following judgements (apart from those involving estimates) have been made in the process of applying the accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Tangible assets

Long life assets comprising of property, plant and machinery represent a significant portion of total assets. The annual depreciation charges depend primarily on the estimated lives of each type of asset and in certain circumstances, estimated residual value. The directors regularly review these useful lives and change them if necessary to reflect current conditions. The directors do not believe that there is any impairment in the current year.

Amounts recoverable on contract

When the outcome of a construction contract can be estimated reliably and it is probable that the contract will be profitable, contract revenue and costs are recognised over the period of the contract by reference to the stage of completion using the 'percentage-of-completion method' to determine the appropriate amount to recognise in a given period. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of value added tax and trade discounts.

In respect of construction contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced.

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised immediately.