REGISTERED NUMBER: 09131501 (England and Wales)

Environ Civil Engineering Limited

Report of the Director and

Financial Statements for the Year Ended 31st March 2026

Page

Company Information

1

Report of the Director

2

to

3

Report of the Independent Auditors

4

to

7

Income Statement

8

Balance Sheet

9

Notes to the Financial Statements

10

to

12

DIRECTOR:

S R Forde

REGISTERED OFFICE:

310 Wellingborough Road

Northampton

Northamptonshire

NN1 4EP

REGISTERED NUMBER:

09131501 (England and Wales)

SENIOR STATUTORY AUDITOR:

Paul Sparks FCA FCCA

AUDITORS:

Cheney & Co

Statutory Auditor

310 Wellingborough Road

Northampton

NN1 4EP

The director presents his report with the financial statements of the company for the year ended 31st March 2026.

REVIEW OF BUSINESS

The directors present their review of the Company's performance for the 12 months ended 31 March 2026.

During the financial year, the Company achieved significant growth in both revenue and profit across its three key market sectors.

The Company successfully completed a significant number of public realm and highways improvement contracts through a range of public sector frameworks during the period.

The Company also expanded its strategic land infrastructure capabilities, securing and delivering a major infrastructure contract on a flagship national housing project for a Tier 1 residential developer.

The Company continued to grow its provision of subcontract services to Tier 1 contractors, notwithstanding significant constraints on national infrastructure expenditure during the period.

The major improvement in revenue growth reflects the Company's targeted approach to securing work and its continued focus on maintaining a strong pipeline through first class delivery performance, integrity and a focus on customer satisfaction.

The Company continued it's quest to drive carbon out of daily operations with a number of research and development projects throughout the period combined with use of more efficient fuels, plant and equipment.

The Director considers the Company's principal key performance indicators to be profit before taxation and the gross profit margin achieved on contract work. These measures provide an indication of the Company's overall financial performance and strength.

The Company delivered a successful financial performance, achieving turnover of £24.5 million and profit before taxation of £848,148 for the 12-month period ended 31 March 2026, its fourth year of trading.

Gross and net margins were moderated by strategic investments in new work and the operational capacity upgrade required to deliver 125% revenue growth.

The Director anticipates that profitability will return towards normal levels in the coming period as the rate of growth stabilises in the short term and the Company begins to realise the benefits of the investment made in its operational capability during the financial year.

All of the below ratios and key performance indicators show that the business continues to trade and expand in a profitable and liquid manner.

2026

2025

2024

2023

£ 000's

£ 000's

£ 000's

£ 000's

Turnover

24,501

10,901

10,214

1,242

Gross profit

1,443

881

1,334

208

Net profit before tax

848

545

1,094

118

Trade debtors

5,664

3,007

1,709

828

Trade creditors

4,513

1,287

554

524

Total assets

8,737

3,897

2,731

1,273

Gross profit percentage

5.89%

8.08%

13.07%

16.79%

Net profit percentage

3.46%

5.00%

7.99%

7.33%

Liquidity ratio

125.49%

134.79%

138.35%

109.63%

FUTURE DEVELOPMENTS

Looking forward, the company remains positive following recent inflation and interest rate reductions, and together with committed investment in Highways and Master Developer infrastructure, it anticipates continued growth in the sector throughout 2025 and into 2026.

The company continues to seek new and innovative ways of delivering complex major infrastructure works, with a specific focus on sustainable practices and methods, in a bid to differentiate their offering from competitors in the sector.

DIRECTOR

S R Forde held office during the whole of the period from 1st April 2025 to the date of this report.

PRINCIPAL RISKS AND UNCERTAINTIES

Demand for infrastructure development was steady at 31st March 2026. However the primary risks facing the business include: inflationary pressures on materials and fuel, uncertainties in the infrastructure development sector. The directors are confident that the company has enough contracts in progress, and pipeline strength, to cope with market headwinds which could occur and are confident that existing commercial relationships will ensure the continued inflow of new contracts.

Cash flow risks are mitigated by maintaining close relationships with customers and applying strong credit control policies.

Health, safety and environmental risks are always considered as a constant within the culture of the company, with a key value being to deliver continual improvement of health and safety culture throughout every part of the business.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the 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 auditors are aware of that information.

AUDITORS

The auditors, Cheney & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S R Forde - Director

30th September 2026

Opinion

We have audited the financial statements of Environ Civil Engineering Limited (the 'company') for the year ended 31st March 2026 which comprise the Income Statement, Balance Sheet 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 March 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, 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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Director has 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 Report of the Director.

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 director's remuneration specified by law are not made; or

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

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, 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 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 has 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:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial

statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material statements due to fraud and error;and to respond appropriately to those risks.

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.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sectors in which it operates. We determine that the following laws and regulations were most significant: the Companies Act 2006, UK taxation laws, UK GAAP and health & safety legislation applicable to the construction industry.

We obtained an understanding on how the company is complying with those legal and regulatory frameworks by making inquiries of management. We have discussed with management the specific risk to the company of the liabilities arising from disputes relating to work undertaken by the company, leading to legal liabilities, and have concluded that this risk is small. There has been nothing that has come to light and no instances of legal action against this company in this regard.

The major critical judgement in relation to the company's financial statements is the valuation of the applications for payment, and provisions against these amounts, which are a components of the balance sheet items of trade debtors or trade creditors, as accrued or deferred income, as appropriate, and also reflected in turnover figure in the income statement.

We have undertaken high levels of testing of balances included in the balance sheet and have performed a detailed analytical review of the income statement.

Prior to commencement of the audit staff were briefed on the risk assessment of the susceptibility company's financial statements to material misstatement, including how fraud could occur.

At the completion stage of the audit the results of audit tests were re-examined to ensure that they were consistent with our knowledge of the client and did not warrant further investigation of transactions and balances.

We have assessed the susceptibility of the financial statements of the company to material misstatement, including how fraud might occur. Audit procedures performed for the company's accounts included:

- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- understanding how those charged with governance considered and addressed the potential for the override of controls or other inappropriate influence over the financial reporting process;

- challenging assumptions and judgements made by the management in its significant accounting estimates;

- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and

- assessing the extent of the compliance with the relevant laws and regulations.

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.

Paul Sparks FCA FCCA (Senior Statutory Auditor)

for and on behalf of Cheney & Co

Statutory Auditor

310 Wellingborough Road

Northampton

NN1 4EP

30th September 2026

TURNOVER

24,501,447

10,901,514

Cost of sales

23,058,849

10,020,612

GROSS PROFIT

1,442,598

880,902

Administrative expenses

594,400

341,804

OPERATING PROFIT

4

848,198

539,098

Interest receivable and similar income

2,468

6,263

850,666

545,361

Interest payable and similar expenses

2,518

-

PROFIT BEFORE TAXATION

848,148

545,361

Tax on profit

96,882

144,669

PROFIT FOR THE FINANCIAL YEAR

751,266

400,692

FIXED ASSETS

Tangible assets

5

155,091

117,856

CURRENT ASSETS

Stocks

30,937

-

Debtors

6

6,059,134

3,164,826

Cash at bank and in hand

2,492,139

613,849

8,582,210

3,778,675

CREDITORS

Amounts falling due within one year

7

6,838,793

2,803,470

NET CURRENT ASSETS

1,743,417

975,205

TOTAL ASSETS LESS CURRENT LIABILITIES

1,898,508

1,093,061

CREDITORS

Amounts falling due after more than one year

8

(56,181

)

-

PROVISIONS FOR LIABILITIES

(9,160

)

(9,160

)

NET ASSETS

1,833,167

1,083,901

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10

1,833,067

1,083,801

1,833,167

1,083,901

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

The financial statements were approved by the director and authorised for issue on 30th September 2026 and were signed by:

S R Forde - Director

1.	STATUTORY INFORMATION

Environ Civil Engineering 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover-revenue recognition

Turnover represents applied for sales and net invoiced sale of goods, excluding value added tax.

On sales applications revenue is recognised as follows:

Measured works - 100%

Variations:

Priced and agreed - 100%

Priced and raised with client - 50%

Raised but not priced - 0%

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will recovered.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2025 - 12 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Depreciation - owned assets

24,123

12,272

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2025

135,931

Additions

100,990

Disposals

(40,940

)

At 31st March 2026

195,981

DEPRECIATION

At 1st April 2025

18,075

Charge for year

24,123

Eliminated on disposal

(1,308

)

At 31st March 2026

40,890

NET BOOK VALUE

At 31st March 2026

155,091

At 31st March 2025

117,856

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

5,664,024

3,007,087

Other debtors

395,110

157,739

6,059,134

3,164,826

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts (see note 9)

25,932

-

Trade creditors

4,464,485

1,287,365

Amounts owed to group undertakings

673,042

98,362

Taxation and social security

141,780

165,406

Other creditors

1,533,554

1,252,337

6,838,793

2,803,470

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts (see note 9)

56,181

-

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2026

2025

£

£

Net obligations repayable:

Within one year

25,932

-

Between one and five years

56,181

-

82,113

-

10.

RESERVES

Retained

earnings

£

At 1st April 2025

1,083,801

Profit for the year

751,266

Dividends

(2,000

)

At 31st March 2026

1,833,067

11.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2026 or 31st March 2025.

12.	RELATED PARTY DISCLOSURES

The company is a 70% subsidiary of MIDA Holdings Limited . It had transactions with other companies in the group which were 100% subsidiaries of MIDA Holdings Limited. These transactions were as follows:

Purchases from Group companies

2026

2025

£

£

Purchase of materials and other services

40,160

187,060

Hire of plant

38,034

178,873

Purchase of Motor Vehicles

-

96,094

At the year end the following amounts were outstanding:

Sums owed to other subsidiaries in the group were £673,042 - (2025 - £98,362)

13.	ULTIMATE CONTROLLING PARTY

DKEOT Limited and C4 Capital Limited each own 35% of MIDA Holdings Limited and as such are the joint controlling parties for the MIDA group comprising MIDA Holdings Limited and its subsidiary companies.

DKEOT Limited and C4 Capital Limited are controlled by the two directors of MIDA Holdings Limited.

Environ Civil Engineering Limited is a 70% subsidiary controlled by MIDA Holdings Limited

The parent's registered office is the same as Environ Civil Engineering Limited.

Consolidated group accounts of MIDA Holdings Limited and its subsidiary companies can be found on the Companies House website.