Woodhouse Contracts Holdings Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 09535980

Woodhouse Contracts Holdings Limited

Financial Statements

For the year ended

31 December 2025

Woodhouse Contracts Holdings Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Consolidated statement of comprehensive income	11

Consolidated statement of financial position	12

Company statement of financial position	13

Consolidated statement of changes in equity	14

Company statement of changes in equity	15

Consolidated statement of cash flows	16

Notes to the financial statements	17

Woodhouse Contracts Holdings Limited

Officers and Professional Advisers

The board of directors	D L Cooper
	G M Cooper
	G J Cooper
	M W Cooper

Registered office	40 Beaconsfield Road
	Hatfield
	Hertfordshire
	AL10 8BB

Auditor	Streets Audit LLP
	Chartered accountants & statutory auditor
	Enterprise House
	38 Tyndall Court
	Commerce Road
	Lynch Wood
	Peterborough
	Cambridgeshire
	PE2 6LR

Woodhouse Contracts Holdings Limited

Strategic Report

Year ended 31 December 2025

We aim to present a balanced and comprehensive review of the development and performance of the group during the year and its position at the year end. Our review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties we face. The group's core operations are that of office design and fit out. Operation Performance and Key Performance Indicators The directors consider the key performance indicators (KPI's) of the group to be turnover, gross margin and net profit. The group reported turnover in the year of £9.9m (2024 £25.0m) and a gross margin of 31.5% (2024 34.8%) resulting in a loss before tax of £10k (2024 profit before tax £5.40m) which is in line with the directors expectations owing to the timing of significant projects. The outlook for 2027 is positive and the directors fully expect the business to return to strong financial performance and profitability. As for many businesses of our size, the business environment in which we operate continues to be challenging but we are confident that the company will maintain its market share during 2025 through the continued investment in its core operations. Cashflow and margins will be tightly monitored and action will be taken as necessary to protect the business and its employees. Principal Risks and Uncertainties The group's principal financial instruments comprise cash and various items, such as trade debtors and trade creditors, which arise directly from its operations. The main purpose of these financial instruments is to provide finance for the group's operations. The existence of these financial instruments exposes the group to a number of financial risks. The main risks arising from the group's financial risks are credit risk, liquidity risk and interest rate risk. The directors review and agree policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years. Credit risk The group seeks to manage its credit risk by dealing with established customers or otherwise checking the credit-worthiness of new customers, establishing clear contractual relationships with those customers and by identifying and addressing any credit issues arising in a timely manner. Liquidity risk The group seeks to manage liquidity risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility is achieved by overdraft facilities. The main functional currency of the business is Sterling and the group does not have material exposure to foreign-denominated currency. Health & safety risk The group is exposed to health & safety risk owing to the nature of the business and sector it operates in. The company seeks to manage this risk through internal expertise and external consultants where deemed necessary. Future developments The group continues to seek to grow across all core operations. The directors will continue to react to market conditions whilst managing the risks noted above.

This report was approved by the board of directors on 11 September 2026 and signed on behalf of the board by:

G J Cooper

Director

Registered office:

40 Beaconsfield Road

Hatfield

Hertfordshire

AL10 8BB

Woodhouse Contracts Holdings Limited

Directors' Report

Year ended 31 December 2025

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

Directors

The directors who served the company during the year were as follows:

D L Cooper
G M Cooper
G J Cooper
M W Cooper

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Disclosure of information in the strategic report

The company has chosen to set out in the strategic report information about the future developments of the company and the financial instruments.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

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

This report was approved by the board of directors on 11 September 2026 and signed on behalf of the board by:

G J Cooper

Director

Registered office:

40 Beaconsfield Road

Hatfield

Hertfordshire

AL10 8BB

Woodhouse Contracts Holdings Limited

Independent Auditor's Report to the Members of Woodhouse Contracts Holdings Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Woodhouse Contracts Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 of the parent company's affairs as at 31 December 2025 and of the group's loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly states 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.

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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company financial statements are not in agreement with the accounting records 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 directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 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 company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates; - 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 company, including the Companies Act 2006, taxation legislation, data protection, 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 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 Note 3 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; - reading the minutes of meetings of those charged with governance; - inquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators and the 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 inquiry 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

Jonathan Day

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

14 September 2026

Woodhouse Contracts Holdings Limited

Consolidated Statement of Comprehensive Income

Year ended 31 December 2025

		2025	2024
Note		£	£
Turnover	4	9,872,229	25,046,927

Cost of sales	6,760,205	16,340,533
	------------	-------------
Gross profit	3,112,024	8,706,394

Administrative expenses		3,221,743	3,478,194
Other operating income	5	–	3,526
		------------	------------
Operating (loss)/profit	6	( 109,719)	5,231,726

Other interest receivable and similar income	10	101,573	179,266
Interest payable and similar expenses	11	2,316	–
		------------	------------
(Loss)/profit before taxation		( 10,462)	5,410,992

Tax on (loss)/profit	12	74,509	1,392,133
		--------	------------
(Loss)/profit for the financial year		( 84,971)	4,018,859
		--------	------------

	--------	------------
Total comprehensive income for the year	( 84,971)	4,018,859
	--------	------------

Loss for the financial year attributable to:

The owners of the parent company	( 66,304)	3,613,721
Non-controlling interests	( 18,667)	405,138
	--------	------------
	( 84,971)	4,018,859
	--------	------------

Total comprehensive income for the year attributable to:

The owners of the parent company	( 66,304)	4,421,478
Non-controlling interests	( 18,667)	( 402,619)
	--------	------------
	( 84,971)	4,018,859
	--------	------------

All the activities of the group are from continuing operations.

Woodhouse Contracts Holdings Limited

Consolidated Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	14	800	36,600
Tangible assets	15	1,291,239	1,000,666
		------------	------------
		1,292,039	1,037,266

Current assets

Stocks	17	28,057	34,180
Debtors	18	2,113,190	2,162,731
Cash at bank and in hand		2,715,939	7,302,532
		------------	------------
		4,857,186	9,499,443

Creditors: amounts falling due within one year	19	2,211,798	4,818,346
		------------	------------
Net current assets		2,645,388	4,681,097
		------------	------------
Total assets less current liabilities		3,937,427	5,718,363

Creditors: amounts falling due after more than one year	20	25,299	33,340

Provisions	22	47,076	–
		------------	------------
Net assets		3,865,052	5,685,023
		------------	------------

Capital and reserves

Called up share capital	25	90	90
Profit and loss account	26	3,683,770	5,485,074
		------------	------------
Equity attributable to the owners of the parent company		3,683,860	5,485,164

Non-controlling interests	181,192	199,859
	------------	------------
	3,865,052	5,685,023
	------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 11 September 2026 , and are signed on behalf of the board by:

G J Cooper

Director

Company registration number: 09535980

Woodhouse Contracts Holdings Limited

Company Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	15	858,449	858,449
Investments	16	970,100	970,100
		------------	------------
		1,828,549	1,828,549

Current assets

Debtors	18	–	3,194,617
Cash at bank and in hand		1,002,878	14,052
		------------	------------
		1,002,878	3,208,669

Creditors: amounts falling due within one year	19	665,242	1,254,701
		------------	------------
Net current assets		337,636	1,953,968
		------------	------------
Total assets less current liabilities		2,166,185	3,782,517

Provisions	22	13,924	10,037
		------------	------------
Net assets		2,152,261	3,772,480
		------------	------------

Capital and reserves

Called up share capital	25	90	90
Profit and loss account	26	2,152,171	3,772,390
		------------	------------
Shareholders funds		2,152,261	3,772,480
		------------	------------

The profit for the financial year of the parent company was £ 114,781 (2024: £ 4,009,624 ).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 11 September 2026 , and are signed on behalf of the board by:

G J Cooper

Director

Company registration number: 09535980

Woodhouse Contracts Holdings Limited

Consolidated Statement of Changes in Equity

Year ended 31 December 2025

			Called up share capital	Profit and loss account	Equity attributable to the owners of the parent company	Non-controlling interests	Total
			£	£	£	£	£
At 1 January 2024			90	2,817,596	2,817,686	602,478	3,420,164

Profit for the year				3,613,721	3,613,721	405,138	4,018,859
Other comprehensive income for the year:
	Minority interest share of net assets		–	807,757	807,757	( 807,757)	–
			----	------------	------------	---------	------------
Total comprehensive income for the year			–	4,421,478	4,421,478	( 402,619)	4,018,859

Dividends paid and payable		13	–	( 1,754,000)	( 1,754,000)	–	( 1,754,000)
			----	------------	------------	---------	------------
Total investments by and distributions to owners			–	( 1,754,000)	( 1,754,000)	–	( 1,754,000)

At 31 December 2024			90	5,485,074	5,485,164	199,859	5,685,023

Loss for the year				( 66,304)	( 66,304)	( 18,667)	( 84,971)
			----	------------	------------	---------	------------
Total comprehensive income for the year			–	( 66,304)	( 66,304)	( 18,667)	( 84,971)

Dividends paid and payable		13	–	( 1,735,000)	( 1,735,000)	–	( 1,735,000)
			----	------------	------------	----	------------
Total investments by and distributions to owners			–	( 1,735,000)	( 1,735,000)	–	( 1,735,000)

			----	------------	------------	---------	------------
At 31 December 2025			90	3,683,770	3,683,860	181,192	3,865,052
			----	------------	------------	---------	------------

Woodhouse Contracts Holdings Limited

Company Statement of Changes in Equity

Year ended 31 December 2025

		Called up share capital	Profit and loss account	Total
		£	£	£
At 1 January 2024		90	1,516,766	1,516,856

Profit for the year			4,009,624	4,009,624
		----	------------	------------
Total comprehensive income for the year		–	4,009,624	4,009,624

Dividends paid and payable	13	–	( 1,754,000)	( 1,754,000)
		----	------------	------------
Total investments by and distributions to owners		–	( 1,754,000)	( 1,754,000)

At 31 December 2024		90	3,772,390	3,772,480

Profit for the year			114,781	114,781
		----	------------	------------
Total comprehensive income for the year		–	114,781	114,781

Dividends paid and payable	13	–	( 1,735,000)	( 1,735,000)
		----	------------	------------
Total investments by and distributions to owners		–	( 1,735,000)	( 1,735,000)

		----	------------	------------
At 31 December 2025		90	2,152,171	2,152,261
		----	------------	------------

Woodhouse Contracts Holdings Limited

Consolidated Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities

(Loss)/profit for the financial year	( 84,971)	4,018,859

Adjustments for:
Depreciation of tangible assets	54,593	41,098
Amortisation of intangible assets	35,800	84,800
Other interest receivable and similar income	( 101,573)	( 179,266)
Interest payable and similar expenses	2,316	–
Gains on disposal of tangible assets	( 2,862)	( 16,486)
Tax on profit	74,509	1,392,133
Accrued income	( 1,064,106)	( 1,106,483)

Changes in:
Stocks	6,123	5,844
Trade and other debtors	261,522	1,486,059
Trade and other creditors	( 564,969)	( 1,364,727)
	------------	------------
Cash generated from operations	( 1,383,618)	4,361,831

Interest paid	( 2,316)	–
Interest received	101,573	179,266
Tax paid	( 588,166)	( 1,213,079)
	------------	------------
Net cash (used in)/from operating activities	( 1,872,527)	3,328,018
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 346,679)	( 23,953)
Proceeds from sale of tangible assets	4,375	30,675
	------------	------------
Net cash (used in)/from investing activities	( 342,304)	6,722
	------------	------------

Cash flows from financing activities

Proceeds from borrowings	( 604,900)	207,030
Payments of finance lease liabilities	( 31,862)	( 37,830)
Dividends paid	( 1,735,000)	( 1,754,000)
	------------	------------
Net cash used in financing activities	( 2,371,762)	( 1,584,800)
	------------	------------

Net (decrease)/increase in cash and cash equivalents	( 4,586,593)	1,749,940
Cash and cash equivalents at beginning of year	7,302,532	5,552,592
	------------	------------
Cash and cash equivalents at end of year	2,715,939	7,302,532
	------------	------------

Woodhouse Contracts Holdings Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Beaconsfield Road, Hatfield, Hertfordshire, AL10 8BB.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The group made a loss before tax of £10,462 for the year however the group has a strong balance sheet with net assets amounting to £3,865,052 and has strong cash reserves. The outlook for 2027 is also very positive. For these reasons, the directors have prepared the financial statements on a going concern basis. Disclosure exemptions No disclosure exemptions are available under FRS102. Consolidation The financial statements consolidate the financial statements of the Group and its subsidiary undertaking. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income. Non-controlling interests Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination. The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: 1) Recognition of turnover on on-going contracts at the year end Turnover is recognised when the outcome of a transaction involving the rendering of services can be reliably estimated. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: 1) Depreciation charge The annual depreciation charge for each class of tangible fixed asset us based on an estimate of the useful economic life of the respective assents. The directors consider that the residual value of the land and buildings is in excess of the carrying value and therefore do not depreciate. This is reviewed periodically by the directors to ensure threat they reflect both the external and internal factors. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference . Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	10% straight line
Patents, trademarks and licences	-	Straight line over useful life

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	50% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	20% straight line

The directors consider that the residual value of the land and buildings is in excess of the carrying value and therefore do not depreciate.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Construction contracts	9,872,229	25,166,927
	------------	-------------

The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Other operating income	–	3,526
	----	-------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Amortisation of intangible assets	35,800	84,800
Depreciation of tangible assets	54,593	41,098
Gains on disposal of tangible assets	( 2,862)	( 16,486)
Operating lease payments	157,985	129,493
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	21,750	20,000
	--------	--------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	11,617	5,500
	--------	--------

8. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Administrative staff	33	33
Management staff	4	4
	----	----
	37	37
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,183,880	2,386,001
Social security costs	286,535	296,349
Other pension costs	25,651	142,692
	------------	------------
	2,496,066	2,825,042
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	75,986	53,184
Company contributions to defined contribution pension plans	840	120,635
	--------	---------
	76,826	173,819
	--------	---------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	101,573	179,266
	---------	---------

11. Interest payable and similar expenses

	2025	2024
	£	£
Interest on obligations under finance leases and hire purchase contracts	2,316	–
	-------	----

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	–	1,419,733
Adjustments in respect of prior periods	–	15,344
	----	------------
Total current tax	–	1,435,077
	----	------------

Deferred tax:

Origination and reversal of timing differences	74,509	( 42,944)
	--------	------------
Tax on profit	74,509	1,392,133
	--------	------------

Reconciliation of tax expense

The tax assessed on the (loss)/profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
(Loss)/profit on ordinary activities before taxation	( 10,462)	5,410,992
	--------	------------
(Loss)/profit on ordinary activities by rate of tax	( 2,616)	1,353,861
Adjustment to tax charge in respect of prior periods	( 1,128)	13,737
Effect of expenses not deductible for tax purposes	32,674	11,503
Effect of capital allowances and depreciation	8,950	13,032
Unused tax losses	33,459	–
Remeasurment to deferred tax for changes in tax rates	3,170	–
	--------	------------
Tax on profit	74,509	1,392,133
	--------	------------

13. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	1,735,000	1,754,000
	------------	------------

14. Intangible assets

Group	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	840,000	4,000	844,000
	---------	-------	---------
Amortisation
At 1 January 2025	805,000	2,400	807,400
Charge for the year	35,000	800	35,800
	---------	-------	---------
At 31 December 2025	840,000	3,200	843,200
	---------	-------	---------
Carrying amount
At 31 December 2025	–	800	800
	---------	-------	---------
At 31 December 2024	35,000	1,600	36,600
	---------	-------	---------

The company has no intangible assets.

15. Tangible assets

Group	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Software	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2025	858,449	94,070	193,620	151,703	22,822	1,320,664
Additions	–	77,128	130,764	19,695	119,092	346,679
Disposals	–	–	–	( 8,500)	–	( 8,500)
Transfers	–	1,527	–	–	( 1,527)	–
	---------	---------	---------	---------	---------	------------
At 31 Dec 2025	858,449	172,725	324,384	162,898	140,387	1,658,843
	---------	---------	---------	---------	---------	------------
Depreciation
At 1 Jan 2025	–	71,804	164,145	84,049	–	319,998
Charge for the year	–	11,746	25,491	17,356	–	54,593
Disposals	–	–	–	( 6,987)	–	( 6,987)
	---------	---------	---------	---------	---------	------------
At 31 Dec 2025	–	83,550	189,636	94,418	–	367,604
	---------	---------	---------	---------	---------	------------
Carrying amount
At 31 Dec 2025	858,449	89,175	134,748	68,480	140,387	1,291,239
	---------	---------	---------	---------	---------	------------
At 31 Dec 2024	858,449	22,266	29,475	67,654	22,822	1,000,666
	---------	---------	---------	---------	---------	------------

Company	Freehold property	Property improvements	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	536,970	321,479	858,449
	---------	---------	---------
Depreciation
At 1 January 2025 and 31 December 2025	–	–	–
	---------	---------	---------
Carrying amount
At 31 December 2025	536,970	321,479	858,449
	---------	---------	---------
At 31 December 2024	536,970	321,479	858,449
	---------	---------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Group	Plant and machinery
	£
At 31 December 2025	49,145
	--------
At 31 December 2024	65,527
	--------

The company has no tangible assets held under finance lease or hire purchase agreements.

16. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 January 2025 and 31 December 2025	970,100
	---------
Impairment
At 1 January 2025 and 31 December 2025	–
	---------

Carrying amount
At 1 January 2025 and 31 December 2025	970,100
	---------
At 31 December 2024	970,100
	---------

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Woodhouse Contracts Limited	40 Beaconsfield Road, Hatfield, Hertfordshire, United Kingdom, AL10 8BB	Ordinary	91

17. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Work in progress	28,057	34,180	–	–
	--------	--------	----	----

18. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	1,045,302	915,874	–	–
Amounts owed by group undertakings	–	–	–	2,519,617
Amounts owed by customers on construction contracts	447,071	–	–	–
Deferred tax asset	–	27,433	–	–
Prepayments and accrued income	393,676	544,375	–	–
Corporation tax repayable	76,771	–	–	–
Other debtors	150,370	675,049	–	675,000
	------------	------------	----	------------
	2,113,190	2,162,731	–	3,194,617
	------------	------------	----	------------

The debtors above include the following amounts falling due after more than one year:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Other debtors	–	675,000	–	675,000
	----	---------	----	---------

19. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	693,808	884,705	–	–
Amounts owed to group undertakings	–	–	17,062	–
Accruals and deferred income	586,677	1,438,802	–	–
Corporation tax	–	560,733	–	1,621
Social security and other taxes	154,050	441,775	–	–
Obligations under finance leases and hire purchase contracts	7,070	30,891	–	–
Director loan accounts	648,180	1,253,080	648,180	1,253,080
Other creditors	122,013	208,360	–	–
	------------	------------	---------	------------
	2,211,798	4,818,346	665,242	1,254,701
	------------	------------	---------	------------

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

20. Creditors: amounts falling due after more than one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Obligations under finance leases and hire purchase contracts	25,299	33,340	–	–
	--------	--------	----	----

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

21. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	7,070	30,891	–	–
Later than 1 year and not later than 5 years	25,299	33,340	–	–
	--------	--------	----	----
	32,369	64,231	–	–
	--------	--------	----	----

22. Provisions

Group	Deferred tax (note 23)
	£
At 1 January 2025	–
Additions	47,076
	--------
At 31 December 2025	47,076
	--------

Company	Deferred tax (note 23)
	£
At 1 January 2025	10,037
Additions	3,887
	--------
At 31 December 2025	13,924
	--------

23. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in debtors (note 18)	–	27,433	–	–
Included in provisions (note 22)	( 47,076)	–	( 13,924)	( 10,037)
	--------	--------	--------	--------
	( 47,076)	27,433	( 13,924)	( 10,037)
	--------	--------	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	68,475	2,567	33,998	10,037
Pension plan obligations	( 1,325)	( 30,000)	–	–
	--------	--------	--------	--------
	67,150	(27,433)	33,998	10,037
	--------	--------	--------	--------

24. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 25,651 (2024: £ 142,692 ).

25. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	90	90	90	90
	----	----	----	----

26. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses .

27. Analysis of changes in net debt

	At 1 Jan 2025	Cash flows	At 31 Dec 2025
	£	£	£
Cash at bank and in hand	7,302,532	(4,586,593)	2,715,939
Debt due within one year	(1,283,971)	628,721	(655,250)
Debt due after one year	(33,340)	8,041	(25,299)
	------------	------------	------------
	5,985,221	( 3,949,831)	2,035,390
	------------	------------	------------

28. Operating leases

As lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	99,667	91,866	–	–
Later than 1 year and not later than 5 years	71,564	89,116	–	–
	---------	---------	----	----
	171,231	180,982	–	–
	---------	---------	----	----

As lessor

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	–	–	120,000	120,000
Later than 1 year and not later than 5 years	–	–	240,000	360,000
	----	----	---------	---------
	–	–	360,000	480,000
	----	----	---------	---------

29. Directors' advances, credits and guarantees

The directors loan accounts remained in credit throughout the year. No interest was charged and the balances are repayable on demand.

Woodhouse Contracts Holdings Limited

Notes to the Financial Statements (continued)

Year ended 31 December 2025

30. Related party transactions

Group

The group has taken advantage from the exemption available under FRS102 from reporting transactions with members of the same group.

Company

The total remuneration of key management personnel are deemed to be the directors, the remuneration is disclosed in note 9. During the year dividends £135,000 (2024 £157,000) were declared to the Woodhouse Contracts Discretionary Trust. At the year end no balance was unpaid. No interest was charged and the balance is repayable on demand. During the prior year the company made a loan to the Hertford Gospel Hall Trust, a party to which one of the directors has significant influence. At the year end the balance was repaid. No interest was charged.

31. Controlling party

The directors do not consider there to be an ultimate controlling party.