Registration number:
Berks US Holdings Ltd
for the Year Ended 30 November 2025
Berks US Holdings Ltd
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Berks US Holdings Ltd
Company Information
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Director |
Mr M U Ali |
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Registered office |
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Auditors |
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Berks US Holdings Ltd
Strategic Report for the Year Ended 30 November 2025
The director presents his strategic report for the year ended 30 November 2025.
Principal activity
The principal activity of the group is that of plumbing, heating, green energy and air conditioning installations along with commercial property rental. The principal activity of the company is that of a holding company.
Fair review of the business
The group comprises of the parent company and two subsidiaries, Berks Insulation Limited and Berks Properties Limited.
Berks Insulation Limited specialises in plumbing, heat and air-conditioning installation.
We believe in more than just creating warm homes; we're dedicated to building a future where energy efficiency is at the forefront. As a trusted partner in the pursuit of sustainable living, we reckon ourselves as a support by providing energy-efficient heating solutions under the ECO Scheme.
We are currently operating under the ECO4 Scheme which is the fourth phase of the Government’s Energy Company Obligation (ECO), running until 31 March 2026. We have assisted the UK homes in all the previous Phases ECO1, ECO2, and ECO3.
Berks Properties Ltd is an investment property company and rents the commercial property to Berks Insulation Limited and other related parties.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
37,149,534 |
81,267,559 |
|
Gross profit |
£ |
11,858,218 |
22,539,658 |
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Gross profit margin |
% |
32 |
28 |
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Profit before tax |
£ |
8,362,808 |
17,709,476 |
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Net assets |
£ |
37,670,813 |
32,001,778 |
Principal risks and uncertainties
The director is aware of the risks and uncertainties within the insulation and energy industry as a whole and has taken measures to mitigate these risks, principally surrounding any mid-scheme changes to the Government's Energy Company Obligation (ECO) 4 scheme. Additionally, the director has kept themselves well informed of the local and wider economy and how any downturn may affect future business.
Section 172(1) statement
Our stakeholders
The director has always paid due regard to the effect of their actions on various stakeholders who have an interest in the business. Section 172 of the Companies Act now requires us to report each year on the steps taken to fulfil these obligations towards our stakeholders. There are a great many parties who may be affected by the decisions made by the Board of directors in the day to day running of the business. It is the responsibility of the Board to balance these interests in order to deliver the best possible outcome for all concerned.
Berks US Holdings Ltd
Strategic Report for the Year Ended 30 November 2025
Our people
We want to maintain and further enhance our reputation by being the best in our specialised field and by making a difference through our people.
We are committed to increasing capability in our workforce and with extensive expertise in our field, we bring deep insights and innovative approaches to tackle your challenges effectively. We are committed to a process of continuous measurable training for the development of our personnel as we recognise that the most important and valuable resource is our people. We invest in training of our people to ensure that they possess the skills, qualifications and experience to deliver a better service to match our clients' needs.
We actively encourage a work-life balance for all our people and we want to be a company that our people will be proud to work for. We value our people and we take great pride in assisting them to reach their full career potential.
Equal opportunities
We are committed to equal opportunity in all facets of our business. We embrace diversity and we promote equality of opportunity; these are embedded in our day to day working practices. We recognise the great benefits in having a diverse workforce with different backgrounds, solely based on ability.
Customers
We're not just about keeping your home cosy; we're passionate about building a more sustainable future for the UK households. As a leading provider of government-funded heating solutions under the ECO4 scheme, we're proud to empower families across the nation with warmth, comfort, and a peace of mind. From eligibility checks and grant applications to expert installation and guidance, we're here to assist you in every step. We empower you with the knowledge and resources you need to make informed decisions about your home's energy future.
We prioritise efficiency without compromising quality, delivering results promptly to meet your timelines.
Our focus is on achieving outcomes that exceed expectations, leaving you fully satisfied with the solutions provided.
Subcontractors and suppliers
We actively engage with our subcontractors and suppliers who form an integral part of our operations and are considered to be key strategic partners. We encourage regular communication and try to create long standing relationships as we recognise the importance of their contribution towards our delivery of a high quality product and service.
Local community
We have a non-adversarial approach to business; we are friendly, approachable, courteous and respectful, in particular when it comes to the communities in which we work.
The Environment
We have a mission which goes beyond simply installing insulation. We strive to empower households across the UK with government-funded heating solutions, ensuring that warmth, comfort, and energy-efficiency become accessible to all. Under the ECO4 scheme, we aim at reducing carbon footprints to combat the climate change, and alleviating fuel poverty by lowering energy costs in every UK household.
Health, safety and environmental policies
We are certified by NICEIC and NAPIT for providing quality services. Our trades TrustMark Registered for: Cavity Wall Insulation, Flat Roof Insulation, Draught Proofing, Room in Roof Insulation, Floor Insulation, Heating System Insulation, Hot Water Systems, Wall Insulation (Internal & External), Air source heat pumps, and Solar PV installation services specifically under the ECO4 scheme.
Our work is compliant to PAS 2030:2019 and PAS 2035.
Berks US Holdings Ltd
Strategic Report for the Year Ended 30 November 2025
Approved and authorised by the
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Berks US Holdings Ltd
Director's Report for the Year Ended 30 November 2025
The director presents his report and the for the year ended 30 November 2025.
Director of the group
The director who held office during the year was as follows:
Dividends
Dividends paid during the year amounted to £0.6m (2024: £2.6m).
Financial instruments
Objectives and policies
The company finances its operations from retained profits.
Price risk, credit risk, liquidity risk and cash flow risk
Currency risk
The company is not exposed to translation and transaction foreign exchange risk.
Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet forseeable needs and to invest cash assets safely and profitably.
Disclosure of information to the auditor
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditor is unaware.
Reappointment of auditors
The auditors Sterling Grove Accountants Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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Berks US Holdings Ltd
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Berks US Holdings Ltd
Independent Auditor's Report to the Members of Berks US Holdings Ltd
Opinion
We have audited the financial statements of Berks US Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, 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:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 30 November 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the 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 director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Berks US Holdings Ltd
Independent Auditor's Report to the Members of Berks US Holdings Ltd
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 6], the director is 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 director determines 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 director is 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 director either intends to liquidate the 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Berks US Holdings Ltd
Independent Auditor's Report to the Members of Berks US Holdings Ltd
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the group and the parent company through discussions with directors and other management, and from our commercial knowledge and experience of the insulation and energy sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and the parent company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the group and the parent company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the group and parent company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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.
Berks US Holdings Ltd
Independent Auditor's Report to the Members of Berks US Holdings Ltd
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.
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For and on behalf of
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
Berks US Holdings Ltd
Consolidated Profit and Loss Account for the Year Ended 30 November 2025
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Note |
2025 |
2024 |
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Turnover |
|
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Cost of sales |
( |
( |
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Gross profit |
|
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Administrative expenses |
( |
( |
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Operating profit |
|
|
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Other interest receivable and similar income |
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|
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Interest payable and similar expenses |
- |
( |
|
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687,882 |
469,500 |
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Profit before tax |
|
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Tax on profit |
( |
( |
|
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Profit for the financial year |
|
|
|
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Profit/(loss) attributable to: |
|||
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Owners of the company |
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The group has no recognised gains or losses for the year other than the results above.
Berks US Holdings Ltd
Consolidated Statement of Comprehensive Income for the Year Ended 30 November 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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Total comprehensive income attributable to: |
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Owners of the company |
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Berks US Holdings Ltd
(Registration number: 12382249)
Consolidated Balance Sheet as at 30 November 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Tangible assets |
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Investment property |
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Current assets |
|||
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Share premium reserve |
6,791,240 |
6,791,240 |
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Retained earnings |
30,879,373 |
25,210,338 |
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Equity attributable to owners of the company |
37,670,813 |
32,001,778 |
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Shareholders' funds |
37,670,813 |
32,001,778 |
Approved and authorised by the
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Berks US Holdings Ltd
(Registration number: 12382249)
Balance Sheet as at 30 November 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Investments |
|
|
|
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Current assets |
|||
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Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
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Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
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Called up share capital |
200 |
200 |
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|
Retained earnings |
13,237,125 |
12,132,782 |
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Shareholders' funds |
13,237,325 |
12,132,982 |
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related noted. The company made a profit after tax for the financial year of £1,704,343 (2024 - profit of £6,600,229).
Approved and authorised by the
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Berks US Holdings Ltd
Consolidated Statement of Changes in Equity for the Year Ended 30 November 2025
Equity attributable to the parent company
|
Share capital |
Share premium |
Retained earnings |
Total |
Total equity |
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At 1 December 2024 |
|
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|
|
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Profit for the year |
- |
- |
|
|
|
|
Dividends |
- |
- |
( |
( |
( |
|
At 30 November 2025 |
|
|
|
|
|
|
Share capital |
Share premium |
Retained earnings |
Total |
Total equity |
|
|
At 1 December 2023 |
|
|
|
|
|
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Profit for the year |
- |
- |
|
|
|
|
Dividends |
- |
- |
( |
( |
( |
|
At 30 November 2024 |
200 |
6,791,240 |
25,210,338 |
32,001,778 |
32,001,778 |
Berks US Holdings Ltd
Statement of Changes in Equity for the Year Ended 30 November 2025
|
Share capital |
Retained earnings |
Total |
|
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At 1 December 2024 |
|
|
|
|
Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 30 November 2025 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 December 2023 |
|
|
|
|
Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 30 November 2024 |
200 |
12,132,782 |
12,132,982 |
Berks US Holdings Ltd
Consolidated Statement of Cash Flows for the Year Ended 30 November 2025
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Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
(Profit)/loss on disposal of tangible assets |
( |
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
- |
|
|
|
Corporation tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in stocks |
|
|
|
|
Increase in trade debtors |
( |
( |
|
|
(Decrease)/increase in trade creditors |
( |
|
|
|
Cash generated from operations |
( |
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
( |
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
- |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 December |
|
|
|
|
Cash and cash equivalents at 30 November |
11,766,900 |
15,304,096 |
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales with registration number 12382249.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
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.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling, which is also the functional currency of the company.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 November 2025.
No Profit and Loss Account is presented for the company as permitted by section 408 of the Companies Act 2006. The company made a profit after tax for the financial period of £1,704,343 (2024: £6,600,229).
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Judgements
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. For this reporting date any significant judgements, estimates and assumptions have been outlined below: |
Key sources of estimation uncertainty
Valuation of investment properties. As described in note 13 to the financial statements, investment properties are stated at fair value and there has been no independant valuation this year. The cost of living crisis continues to add further volatility to an already opaque economic picture. Overall, the economic outlook remains uncertain with high interest rates amid growing concerns over inflation, which has inevitably increased the degree of judgement involved in the property valuation at 30 November 2025. The carrying amount is £588,286 (2024 -£588,286).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The group recognises revenue for in-house jobs when a service has been completed and it has been
approved, based on the installation date. The group recognises revenue for jobs completed by subcontractors when a service has been completed and it has been approved, based on the submission date.
Where the provision of a service has been completed by the end of the year but has not been invoiced and approved until after the year end, the income is recognised and is part of the debtors balance within accrued income.
Where the provision of a service remains incomplete at the end of a period, a proportion of the income
pertaining to the level of the service performed is accrued and is part of the debtors balance within amounts
recoverable on contracts.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Furniture, fittings and equipment |
25% straight line |
|
Motor vehicles |
10% or 25% straight line |
|
Plant and machinery |
25% straight line |
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Financial instruments
Classification
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Recognition and measurement
Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Impairment
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Rendering of services |
|
|
|
Rental income from investment property |
|
|
|
|
|
All turnover arose within the United Kingdom.
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
(Profit)/loss on disposal of tangible assets |
( |
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other interest received |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Other interest paid |
- |
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
31,200 |
30,000 |
|
Other fees to auditors |
||
|
All other non-audit services |
|
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax (credit)/expense relating to changes in tax rates or laws |
( |
|
|
Tax increase/(decrease) from changes in pension fund prepayment |
|
( |
|
Tax decrease from other tax effects |
( |
( |
|
Total tax charge |
|
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Difference between accumulated depreciation and capital allowances |
|
|
|
|
2024 |
Liability |
|
Difference between accumulated depreciation and capital allowances |
|
|
|
|
Tangible assets |
Group
|
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
||||
|
At 1 December 2024 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
- |
( |
- |
( |
|
At 30 November 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 December 2024 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
|
At 30 November 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 30 November 2025 |
|
|
|
|
|
At 30 November 2024 |
|
|
|
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Investment properties |
Group
|
2025 |
|
|
At 1 December |
|
|
At 30 November |
|
The investment property was valued by the directors on 30 November 2025 using the comparative method of valuation. There has been no independent valuation on the investment property this year.
Carrying amount of investment property rented to another group entity
The carrying amount of investment property rented to another group entity was
£
|
Investments |
Group
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Albion House, Albion Close, Slough, SL2 5DT |
|
|
|
|
England and Wales |
||||
|
|
Unit 8, Elderway Waterside Drive, Langley, Slough, SL3 6EP |
|
|
|
|
England and Wales |
||||
Subsidiary undertakings
|
Berks Insulation Limited The principal activity of Berks Insulation Limited is |
|
Berks Properties Ltd The principal activity of Berks Properties Ltd is |
All of the above subsidiaries are included in the consolidation.
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 December 2024 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 30 November 2025 |
|
|
At 30 November 2024 |
|
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
- |
- |
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
- |
|
|
Amounts owed by related parties |
|
|
|
|
|
|
Other debtors |
|
|
- |
|
|
|
Prepayments |
|
|
- |
- |
|
|
Accrued income |
|
|
- |
- |
|
|
Gross amount due from customers for contract work |
- |
|
- |
- |
|
|
Corporation tax |
|
|
- |
- |
|
|
Amounts owed by group companies |
- |
- |
666,938 |
867,149 |
|
|
|
|
|
|
||
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash on hand |
|
|
|
|
|
Cash at bank |
|
|
|
|
|
|
|
|
|
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Trade creditors |
|
|
- |
|
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Outstanding defined contribution pension costs |
|
|
- |
- |
|
|
Other payables |
|
|
|
|
|
|
Accruals and deferred income |
|
|
|
|
|
|
Corporation tax |
- |
- |
67,887 |
- |
|
|
Amounts due to group companies |
- |
- |
|
- |
|
|
|
|
|
|
||
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 December 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 30 November 2025 |
|
|
|
|
||
The deferred tax provision relates to differences between accumulated depreciation and capital allowances. The amount of net reversal of deferred tax expected to occur next year is £34,000 (2024: £33,000), relating to the reversal of exisitng timing differences on tangible fixed assets.
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
200 |
|
200 |
Rights, preferences and restrictions
|
Ordinary shares of £1 each have the following rights, preferences and restrictions: |
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
600,000 |
2,600,000 |
||
|
Analysis of changes in net debt |
Group
|
At 1 December 2024 |
Financing cash flows |
At 30 November 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash |
15,304,096 |
(3,537,196) |
11,766,900 |
|
|
|||
|
|
( |
|
|
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Related party transactions |
The company has taken advantage of the exemption available under Section 33.7 of the Financial Reporting Standard 102 to not disclose related party transactions entered into between two or more members of a group.
Group
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
Income and receivables from related parties
|
2025 |
Other related parties |
|
Receipt of services |
|
|
|
|
|
2024 |
Other related parties |
|
Receipt of services |
|
|
|
|
Expenditure with and payables to related parties
|
2025 |
Other related parties |
|
Rendering of services |
|
|
|
|
|
2024 |
Other related parties |
|
Rendering of services |
|
|
|
|
Loans to related parties
|
2025 |
Other related parties |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Repaid |
( |
( |
|
Interest transactions |
|
|
|
At end of period |
|
|
|
|
||
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
2024 |
Other related parties |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Repaid |
( |
( |
|
Interest transactions |
|
|
|
At end of period |
|
|
|
|
||
Terms of loans to related parties
Company
Loans to related parties
|
2025 |
Other related parties |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Interest transactions |
|
|
|
At end of period |
|
|
|
|
||
|
2024 |
Other related parties |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Repaid |
( |
( |
|
Interest transactions |
|
|
|
At end of period |
|
|
|
|
||
Terms of loans to related parties
Berks US Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Financial instruments |
Group
Categorisation of financial instruments
|
2025 |
2024 |
|
|
Financial assets measured at amortised cost |
|
|
|
Financial liabilities measured at amortised cost |
|
|
Company
Categorisation of financial instruments
|
2025 |
2024 |
|
|
Financial assets measured at amortised cost |
|
|
|
Financial liabilities measured at amortised cost |
|
|
|
Controlling party |