REGISTERED NUMBER: 05076612 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

ASH CONTRACTING LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

D Clarke

D Cooper

M J Cox

J M Green

R Holmes

C J Hough

P D Seex

P C Tester

A Abdulkareem

REGISTERED OFFICE:

83 Cambridge Street

Pimlico

London

SW1V 4PS

REGISTERED NUMBER:

05076612 (England and Wales)

AUDITORS:

George Hay & Company

Chartered Accountants

& Statutory Auditors

83 Cambridge Street

Pimlico

London

SW1V 4PS

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

REVIEW OF BUSINESS

The principal activity of the company continued to be that of construction in the educational, commercial and ecclesiastical sectors.

Turnover has decreased by 12% from the previous year in part due to the targeting of smaller and simpler projects. We have concluded that larger projects, especially if they are design & build are likely to pose more risk and generate less profit for the company and we have adjusted our marketing dynamic accordingly.

The winter months are often periods of low turnover and potentially loss making, however 2025 was a period of even workflow, given the continuity of cash and profit flows the company was able to continue to make EOT bonus payments throughout the year, up to the maximum per annum, and retain a healthy net profit.

The company continues to spend a large element of overheads on tendering, which has become more bureaucratic at all levels and very competitive. The streamlining of this process is a strategic future objective. It is anticipated that AI will be a useful tool in this respect.

During the year, the company also made capital contributions of £700,000 to the Ash Connect Employee Ownership Trust.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's key financial instruments comprise of trade debtors and sales retentions, cash at bank and bank loans, trade creditors and subcontractors retentions.

The company is exposed to risks including credit risk, liquidity risk, cash flow risk, market risk, competition risk and laws and regulations risk, all of which arise from the company's normal business activities. The board reviews and agrees policies for managing each of these risks and they are summarised below:

Credit risk

The company monitors credit risk closely and considers that its current policies of credit checks and credit limits meet its objectives of managing exposure to credit risk.

Liquidity risk

The company closely monitors its bank balance and other credit facilities in comparison to its outstanding commitments to ensure it has sufficient funds to meet its obligations as they fall due.

Cash flow risk

Remains low due to the sectors chosen and agreed beneficial payment terms.

Market risk

Demand for the services of the company is cyclical and dependent on the economic environment. Any significant changes to our clients' working practices or a downturn in the economy, could result in the deferment or cancelling of expenditure. The company earns revenues from multiple sectors, and continues to make a concerted effort to strengthen relationships in these sectors. However, the recent VAT changes to Private Education continue to have an impact on the level of sales and turnover based thereon.

Competition risk

The company is exposed to competition risk as the industry in which the company operates is mature and highly competitive. The conversion rate from tendering to secured work is maximised by careful selection of customers and suppliers in order to preserve our brand and work collaboratively.

Laws and regulations risk

The company carries out activities in environments which could cause serious injury to its staff, subcontractors and members of the public. The company has an active policy of training employees and commissioning independent third parties to carry out regular site checks. The company is committed to achieving the highest standards on health and safety.

Other risk

The company is subject to "price risk' in terms of materials, sub-contractors and plant. The industry is volatile and prices, especially steel related materials change rapidly, a diverse trusted and dedicated supply chain has proved reliable in forewarning the company of price hazard, in most cases, before contracts are agreed.

FINANCIAL KEY PERFORMANCE INDICATORS

The financial key performance indicators used by the directors to assess the performance of the business are turnover, gross profit margin, net profit before tax and net assets. A brief analysis of these is provided below:

2025

2024

£

£

Turnover

20,840,984

23,780,712

Gross profit margin

14.22%

12.71%

Net profit before tax

705,039

720,397

Net assets

1,845,088

1,946,229

ON BEHALF OF THE BOARD:

D Cooper - Director

23rd September 2026

The directors present their report with the financial statements of the company for the year ended 31st December 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31st December 2025 was £NIL (2024: £Nil).

DIRECTORS

The directors during the year under review were:

D Clarke

D Cooper

M J Cox

J M Green

R Holmes

C J Hough

P D Seex

P C Tester

A Abdulkareem

The directors holding office at 31st December 2025 did not hold any beneficial interest in the issued share capital of the company at 1st January 2025 or 31st December 2025.

DISCLOSURE IN THE STRATEGIC REPORT

Risks associated with the financial instruments held by the company are addressed in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, George Hay & Company, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D Cooper - Director

23rd September 2026

Opinion

We have audited the financial statements of Ash Contracting Limited (the 'company') for the year ended 31st December 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 company's affairs as at 31st December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

Based on our understanding of the company's operations, we identified that the principal risks of non-compliance with laws and regulations relates to construction contracting regulations. We considered the extent to which non-compliance might have a material effect on the financial statements that results in the situation where no further construction services can be provided for. We also considered the relevant laws and regulations that have a direct impact on the preparation of the financial statements such as the income tax.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, (including the risk of override of controls) and determined there were no principal risks directly impacting the company's revenue and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

- Evaluating management's controls designed to prevent and detect irregularities;

- Identifying and testing journals, in particular journal entries posted with unusual account combinations or with unusual descriptions; and

- Challenging assumptions and judgements made by management in their critical accounting estimates.

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

Use of our report

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

Marino Achilleos FCCA (Senior Statutory Auditor)

for and on behalf of George Hay & Company

Chartered Accountants

& Statutory Auditors

83 Cambridge Street

Pimlico

London

SW1V 4PS

23rd September 2026

TURNOVER

3

20,840,984

23,780,712

Cost of sales

17,877,677

20,758,859

GROSS PROFIT

2,963,307

3,021,853

Administrative expenses

2,322,880

2,466,982

640,427

554,871

Other operating income

37,500

137,500

OPERATING PROFIT

6

677,927

692,371

Interest receivable and similar income

33,398

42,471

711,325

734,842

Interest payable and similar expenses

8

6,286

14,445

PROFIT BEFORE TAXATION

705,039

720,397

Tax on profit

9

106,180

190,428

PROFIT FOR THE FINANCIAL YEAR

598,859

529,969

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

598,859

529,969

FIXED ASSETS

Tangible assets

10

18,901

19,066

CURRENT ASSETS

Debtors

11

3,391,900

2,880,895

Cash at bank

2,640,041

3,242,177

6,031,941

6,123,072

CREDITORS

Amounts falling due within one year

12

4,205,754

4,154,240

NET CURRENT ASSETS

1,826,187

1,968,832

TOTAL ASSETS LESS CURRENT LIABILITIES

1,845,088

1,987,898

CREDITORS

Amounts falling due after more than one year

13

-

41,669

NET ASSETS

1,845,088

1,946,229

CAPITAL AND RESERVES

Called up share capital

17

107,624

107,624

Share premium

173,976

173,976

Retained earnings

1,563,488

1,664,629

SHAREHOLDER FUNDS

1,845,088

1,946,229

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

D Cooper - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1st January 2024

107,624

1,624,660

173,976

1,906,260

Changes in equity

Total comprehensive income

-

529,969

-

529,969

Capital contributions to

Employee Ownership Trust

-

(490,000

)

-

(490,000

)

Balance at 31st December 2024

107,624

1,664,629

173,976

1,946,229

Changes in equity

Total comprehensive income

-

598,859

-

598,859

Capital contributions to

Employee Ownership Trust

-

(700,000

)

-

(700,000

)

Balance at 31st December 2025

107,624

1,563,488

173,976

1,845,088

1.	STATUTORY INFORMATION

Ash Contracting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

The principal trading address is 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

The information is included in the consolidated financial statements of Ash Connect Limited as at 31 December 2025 and these financial statements may be obtained from 4 The Courtyard, Birling Road, Ryarsh, West Malling, ME19 5AA.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated by the directors and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. Actual results may differ from these estimates. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or the period of the revision and future periods where the revision affects both current and future periods.

The directors consider there to be no significant areas of judgements or key sources of estimation uncertainty.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from construction contracts

Revenue and costs are recognised over time with reference to the stage of completion of the contract activity at the balance sheet date where the outcome of a contract can be estimated reliably. This is normally measured by surveys of work performed to date. Variations in contract work and claims are included to the extent that it is highly probable that they will result in revenue and they are capable of being reliably measured.

Where the outcome of a long term contract cannot be estimated reliably, contract revenue where recoverability is probable is recognised to the extent of contract costs incurred. The costs associated with fulfilling a contract are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Tangible fixed assets

Fixed assets are initially measured at cost. After initial recognition fixed assets are measured at cost less any accumulated depreciation and impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Financial instruments

The company enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and investments in non-puttable ordinary shares.

Cash and cash equivalents comprises current balances with banks and similar institutions. This definition is also used for the cash flow statement.

Basic financial instruments that are receivable or payable within one year are initially measured at the undiscounted amount of the consideration expected. If receivable or payable after more than one year, basic financial instruments are initially measured at the contractual obligation. If the arrangement constitutes a financing transaction, the financial instrument is measured initially at the present value of the future cash flows, discounted at a market rate of interest. They are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee ownership trust

Contributions to the Employee Ownership Trust are recognised when paid.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Construction Services

20,840,984

23,780,712

20,840,984

23,780,712

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

20,840,984

23,780,712

20,840,984

23,780,712

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,755,974

2,851,156

Social security costs

363,045

352,352

Other pension costs

145,836

331,674

3,264,855

3,535,182

The average number of employees during the year was as follows:

2025

2024

Production staff

27

34

Administrative staff

15

14

Management

8

8

50

56

5.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

654,030

849,144

Directors' pension contributions to money purchase schemes

96,453

282,672

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

8

7

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

162,455

201,602

Pension contributions to money purchase schemes

(25,679

)

1,321

During the year the company received a refund of pension contributions in relation to the highest paid director, resulting in the (£25,679) shown above.

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

507,274

487,624

Other operating leases

22,259

33,043

Depreciation - owned assets

6,299

6,355

Loss/(profit) on disposal of fixed assets

1,575

(1,376

)

7.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

17,050

15,750

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

-

144

Bank loan interest

6,286

14,301

6,286

14,445

9.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

106,180

190,428

Tax on profit

106,180

190,428

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

705,039

720,397

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

176,260

180,099

Effects of:

Expenses not deductible for tax purposes

24,310

27,698

Capital allowances in excess of depreciation

(1,300

)

-

Depreciation in excess of capital allowances

-

610

Utilisation of tax losses

-

(17,979

)

Adjustments to tax charge in respect of previous periods

(93,090

)

-

tax paid

income

Total tax charge

106,180

190,428

10.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st January 2025

60,000

160,417

220,417

Additions

-

10,995

10,995

Disposals

-

(59,600

)

(59,600

)

At 31st December 2025

60,000

111,812

171,812

DEPRECIATION

At 1st January 2025

56,667

144,684

201,351

Charge for year

833

5,466

6,299

Eliminated on disposal

-

(54,739

)

(54,739

)

At 31st December 2025

57,500

95,411

152,911

NET BOOK VALUE

At 31st December 2025

2,500

16,401

18,901

At 31st December 2024

3,333

15,733

19,066

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,145,077

1,061,295

Amounts owed by group undertakings

665

315

Accrued income and amounts

recoverable on contracts

1,637,045

1,012,515

Other debtors

77

-

Directors' current accounts

1,358

1,358

Prepayments

30,738

18,750

Sales retention control

576,940

786,662

3,391,900

2,880,895

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 14)

41,669

100,000

Trade creditors

213,322

14,625

Corporation tax payable

106,116

190,428

Social security and other taxes

117,437

174,202

VAT

1,786,076

1,934,243

Other creditors

29,113

19,366

Subcontractor invoices

1,281,625

944,781

Subcontractors retention

control

609,761

752,891

Accruals

20,635

23,704

4,205,754

4,154,240

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 14)

-

41,669

14.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans - within 1 year

41,669

100,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

41,669

15.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Non-cancellable operating leases

2025

2024

£

£

Net obligations repayable:

Within one year

109,179

123,981

Between one and five years

299,600

202,323

More than five years

243,633

107,500

652,412

433,804