REGISTERED NUMBER: 12707028 (England and Wales)

MIDA Civil Engineering Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st March 2026

Page

Company Information

1

Strategic Report

2

to

5

Report of the Directors

6

to

7

Report of the Independent Auditors

8

to

11

Statement of Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Notes to the Financial Statements

15

to

21

DIRECTORS:

M R Clorley

D D Murphy

J D Brown

D Clorley

REGISTERED OFFICE:

310 Wellingborough Road

Northampton

Northamptonshire

NN1 4EP

REGISTERED NUMBER:

12707028 (England and Wales)

SENIOR STATUTORY AUDITOR:

Paul Sparks FCA FCCA

AUDITORS:

Cheney & Co

Statutory Auditor

310 Wellingborough Road

Northampton

NN1 4EP

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

REVIEW OF BUSINESS

The Company delivered a resilient performance during the year despite continued uncertainty within the UK residential construction sector. Market conditions remained influenced by interest rate pressures, planning delays, inflationary cost challenges and varying levels of housebuilder confidence. Against this backdrop, the Company maintained its focus on sustainable and profitable growth, cash generation, operational excellence and long-term value creation. The Directors believe this disciplined approach has enabled the business to continue strengthening its market position whilst maintaining a risk profile that reflects the prudent outlook of the market.

The Directors regard revenue, gross profit margin, profit before taxation and working capital management as the key financial performance indicators of the business. The Gross Profit percentage for the company was largely in line with prior periods despite external economic and market pressures, with the Net Profit percentage increasing on the prior financial period.

MIDA has had a successful financial period to 31st March 2026 with turnover achieved of £110.7 million, an increase of 80% compared with the prior financial period, and a profit before taxation of £8.1 million, increasing by 86% from £4.4 million in the previous year.

The below ratios and key performance indicators demonstrate the sustainable growth and robust financial strength of the company.

12 months to 31.03.2026

12 months to 31.03.2025

9 months to31.03.2024

12 months to 30.06.2023

KPI's

£   s

£   s

£   s

£   s

Sales

110,733

61,426

50,582

33,033

Gross profit

10,814

6,389

5,371

3,640

Net profit before tax

8,066

4,321

3,763

2,937

Trade debtors

28,631

10,448

6,508

5,036

Trade creditors

14,983

8,926

5,587

3,321

Trade purchases

95,785

52,062

43,153

27,911

RATIOS

Percentage

Percentage

Percentage

Percentage

Gross profit percentage

9.77

10.40

10.62

11.02

Net profit before tax percentage

7.28

7.03

7.44

8.63

The Directors remain committed to maximising retained earnings as a core financial principle, recognising that the reinvestment of profits strengthens the Company's balance sheet, supports long-term sustainable growth, and enhances its ability to capitalise on future strategic opportunities.

In addition, health and safety performance, build quality, environmental stewardship, and client satisfaction remain fundamental measures of the Company's overall performance, reputation and long-term success, and are regarded as key non-financial performance indicators. MIDA has experienced a successful year in this regard, with falling HSE incident rates and a reduction in defective works in the period.

The Company continued to secure a number of new contract awards from its established customer base, whilst also developing relationships with new clients and pursuing opportunities within its expanded geographical markets. This approach enabled the Company to maintain a strong forward order book, standing at more than £165 million at year-end, and a healthy pipeline of work entering the new financial year.

During the year, the Company continued to invest in its organisational capability through improvements to governance, reporting, operational controls and digital systems. Progress was made in the deployment of new business management technologies and enhanced performance reporting, providing greater visibility of operational and financial performance across the business. These investments are expected to support future growth whilst improving efficiency and decision making.

Regionalisation of the business model has been a key strategic priority for the Directors over the financial reporting period, with MIDA Civil Engineering now delivering as three distinct Operating Regions to enable improved focus on client outcomes and offering greater control of the company's medium and long-term growth strategy.

The Directors are satisfied with the overall trading performance achieved during the year and remain confident that the Company is well positioned to capitalise on future opportunities while maintaining a strong and sustainable financial foundation.

PRINCIPAL RISKS AND UNCERTAINTIES

The Board recognises that the Company operates within a dynamic and competitive environment and therefore continually reviews the principal risks affecting the business.

Market and Economic Risk

Demand within the residential construction market can be impacted by fluctuations in economic conditions, housebuilder confidence, mortgage affordability and planning activity.

The Company mitigates these risks through maintaining strong client relationships, monitoring market conditions, disciplined tendering procedures and maintaining a diversified portfolio of projects and customers.

Profitability Risk

The Company remains exposed to inflationary pressures affecting labour, materials, subcontractors and operational costs.

This risk is managed through robust commercial governance, detailed project forecasting, effective procurement practices and regular monitoring of project performance throughout contract delivery.

Credit Risk

The main asset from which credit risk may materialise is trade debtors failing to discharge an obligation. The business reduces the risk through sales ledger risk management policies including credit insurance and regular credit control review.

Liquidity and Working Capital Risk

Maintaining appropriate levels of cash and working capital is essential within the construction industry due to the timing differences between expenditure and customer receipts.

The Directors actively monitor cash flow forecasts, debtor collections, funding requirements and liquidity levels to ensure sufficient financial resources are available to support ongoing operations and future growth.

Interest Rate Risk

The company is exposed to interest rate risk through the impact of rate changes on interest bearing borrowings like mortgages and the effect it has on the housing market. The company itself does not have interest bearing assets and liabilities.

Though an uncertain domestic and global political landscape has resulted in relatively high interest rates and subdued residential housing investment, the Directors are confident that the company has enough secured order value to cope with potential market headwinds.

People and Resource Risk

The Company's future success depends upon its ability to attract, develop and retain talented employees and operatives.

To address this risk, the Company continues to invest in its HR capability, employee development, succession planning, leadership capability and workforce engagement initiatives designed to create a positive and rewarding working environment.

Health, Safety, Environmental and Quality Risk

The maintenance of high standards in health and safety, environmental management and quality assurance remains a key business priority. The Company operates a comprehensive management system supported by audits, inspections, training programmes and performance reviews designed to drive continuous improvement and minimise operational risk.

SECTION 172(1) STATEMENT

Directors' statement of compliance with duty to promote the success of the company

During the year , the directors have had regard to the matters set out in S172 (1) (a) to (f) of the Companies Act 2006

whilst performing their duties. Whilst making decisions the directors ensure that they have acted in good faith, in a way they believe would promote the success of the Company for the benefit of its members. Specifically, the directors have considered the following:-

a. The likely consequences of any decision in the long term;

b. The interests of the Company's employees;

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

d. The impact of the operations of the company on the community and the environment;

e. The desirability of the Company maintaining a reputation for high standards of business conduct; and

f. The need to act fairly between members of the company.

S172(1) (a) The Likely consequences of any decision in the long term

The Directors understand the business and the environment in which it operates. This is key to understanding the likely consequences of any long-term decisions . There is a plan for increased growth in the company's business in a cautious and risk -managed manner.

S172(1) (b) The interests of the company's employees

The directors recognise that the company's employees are key to the business and its success.Staff retention is achieved by the prioritising of employee wellbeing such that employees work in a humane ,safe and healthy environment which aims to encourage that employees develop to the best of their potential.

S172(1) (c) The need to foster the Company's business relationships with suppliers , customers and others

The directors recognise the importance of relationships with our supply chain and the need to continue to build relationships with our key suppliers. We actively engage with suppliers throughout the year to ensure our respective plans align with one -another.

The Company is committed to maintaining good customer relations and continues to spend considerable time to ensure customer satisfaction.

S172(1) (d) The impact of the Company's operations on the community and the environment

The Company recognise the importance of minimising the impact of our operations on the community and environment , which is why it is core to our strategy. Adopting an environmental approach to our business operations makes good sense in view of the need to manage climate change and bio-diversity for the future not only of the United Kingdom , but also planet Earth.

S172 (1) (e) The desirability of the Company maintaining a reputation for high standards of business conduct

The Company take health and safety and construction industry regulations extremely seriously because of the need to have a good reputation in the construction industry

S172(1) (f) The need to act fairly between members of Company

The Company is controlled by a two proprietorial manager directors having a 35% each control over the parent company of the group ,MIDA Holdings Limited. , together with two other business investor shareholders who have the remaining 30% influence. A small group of individuals with goal congruent aims makes for a healthy balance of power ensuring transparency and fairness for all members of the company.

EMPLOYEE ENGAGEMENT

The Directors recognise that the Company's continued success is dependent upon the commitment, professionalism and expertise of its employees.

The Company remains committed to providing a safe, supportive and inclusive working environment that encourages personal development, collaboration and continuous improvement. Investment in employee training and development continued throughout the year, supporting both operational performance and future succession planning requirements.

Employees are regularly informed of the Company's performance, strategic objectives and key initiatives, and their contribution continues to play a vital role in the delivery of the Company's long-term goals.

RESEARCH & DEVELOPMENT

The company is always looking into new and innovative ways of carrying out civil engineering and aims to be in the forefront of any new methods or efficiencies which raise the industry standard. The company also acquires new knowledge whilst working through the various challenges encountered on new sites by developing new or improved ways of addressing the issues arising.

HEALTH & SAFETY

The company takes the physical and mental health of its employees seriously and aims to make working for the company a safe and fulfilling experience. It has its own dedicated health and safety team which aim to ensure that the company's trading activities on site and elsewhere are carried out in compliance with UK health and safety legislation and best practice.

GREENHOUSE GAS EMISSIONS,ENERGY CONSUMPTION & ENERGY EFFICIENCY

The Company recognises its responsibility to operate in a manner that minimises environmental impact whilst supporting sustainable development within the communities in which it operates.

Throughout the year, the business continued to focus on initiatives designed to improve environmental performance, reduce emissions and enhance resource efficiency. These initiatives include improvements in operational planning, procurement practices, fleet management and the use of technology to reduce unnecessary travel and resource consumption. The Company remains committed to the continuous development of its environmental management arrangements and the identification of opportunities to improve sustainability performance across all operations.

During the year our group activities contributed towards the following Co2 emissions:

Co2 Emissions

in metric tonnes

Gas & electricity usage

13.46

Plant on construction sites

6,180.39

Transport

1,237.41

The method used to calculate the metric tonnes of Co2 is the volume of energy or fuel usage in kwh or litres respectively multiplied by the appropriate conversion rate to kg of Co2 and then divided by 1000 to arrive at metric tonnes of Co2.

FUTURE DEVELOPMENTS

Whilst economic uncertainty and sector-specific challenges remain, the Directors are encouraged by the strength of the Company's order book, established client base and reputation for delivering high-quality projects. The business enters the new financial year with a strong market position and clear strategic direction.

The Company's focus will remain on sustainable and profitable growth, operational excellence and continued investment in people, systems and governance. Particular attention will be given to enhancing operational efficiency through digital transformation initiatives, strengthening management information and maintaining the disciplined commercial approach that has underpinned the Company's success to date.

The Directors believe that the Company's strong financial position, experienced management team and clear strategic priorities provide a solid foundation for continued long-term growth and value creation for shareholders, employees, customers and wider stakeholders.

Whilst the Directors remain satisfied that the Group is on course to deliver a robust financial performance for the year ending 31 March 2027, they recognise that ongoing geopolitical instability, including the conflict involving Iran, is expected to create cost pressures and market uncertainty that may adversely impact profitability during the current and subsequent financial period. The Directors remain confident that the Group's strong balance sheet, healthy liquidity position and disciplined financial management provide a resilient platform from which to navigate these headwinds.

ON BEHALF OF THE BOARD:

M R Clorley - Director

30th September 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a civil engineering construction company .

DIVIDENDS

The total distribution of dividends for the year ended 31st March 2026 will be £ 1,800,000 .

DIRECTORS

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

M R Clorley

D D Murphy

J D Brown

Other changes in directors holding office are as follows:

D Clorley - appointed 1st April 2025

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

The financial risks relating to the company are closely related to those risks identified in the Strategic Report of the company. The company is proactive when managing working capital and liquid funds to meet cash outflows as well as monitoring profitability. It does this by producing quarterly management accounts to keep a check on key liquidity and profitability ratios as well as monitoring the actual results against the budget both for the quarter in question and the cumulative period to date. In this way management control can be exercised by the directors to ensure that risks are anticipated, and their potential effects subjected to planned mitigation.

POLITICAL DONATIONS AND EXPENDITURE

There were no political donations during the period. All donations made were for charitable purposes.

STRATEGIC REPORT

The company has chosen in accordance with s.414C (11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the Large and Medium -sized Companies and Group's (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in relation to review of the business, research and development and future developments.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

M R Clorley - Director

30th September 2026

Opinion

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit.

However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations.

We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We considered the nature of the industry, the control environment and business performance, including the key drivers for management's remuneration.

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

We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations.

Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditors/audit-assurance-ethics/auditors-responsibilities-for-the-audit.

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

3

110,733,127

61,425,953

Cost of sales

99,919,592

55,037,077

GROSS PROFIT

10,813,535

6,388,876

Administrative expenses

2,867,699

2,103,507

7,945,836

4,285,369

Other operating income

8,201

13,976

OPERATING PROFIT

5

7,954,037

4,299,345

Interest receivable and similar income

112,295

21,949

PROFIT BEFORE TAXATION

8,066,332

4,321,294

Tax on profit

6

423,427

621,042

PROFIT FOR THE FINANCIAL YEAR

7,642,905

3,700,252

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

7,642,905

3,700,252

FIXED ASSETS

Tangible assets

8

59,584

47,914

CURRENT ASSETS

Stocks

9

658,414

428,332

Debtors

10

30,411,012

18,936,144

Cash at bank

15,111,101

8,237,596

46,180,527

27,602,072

CREDITORS

Amounts falling due within one year

11

27,630,522

14,510,774

NET CURRENT ASSETS

18,550,005

13,091,298

TOTAL ASSETS LESS CURRENT LIABILITIES

18,609,589

13,139,212

CREDITORS

Amounts falling due after more than one year

12

(4,088,375

)

(4,463,820

)

PROVISIONS FOR LIABILITIES

14

(14,896

)

(11,979

)

NET ASSETS

14,506,318

8,663,413

CAPITAL AND RESERVES

Called up share capital

15

1

1

Retained earnings

16

14,506,317

8,663,412

SHAREHOLDERS' FUNDS

14,506,318

8,663,413

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2026 and were signed on its behalf by:

M R Clorley - Director

D D Murphy - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2024

1

6,463,160

6,463,161

Changes in equity

Dividends

-

(1,500,000

)

(1,500,000

)

Total comprehensive income

-

3,700,252

3,700,252

Balance at 31st March 2025

1

8,663,412

8,663,413

Changes in equity

Dividends

-

(1,800,000

)

(1,800,000

)

Total comprehensive income

-

7,642,905

7,642,905

Balance at 31st March 2026

1

14,506,317

14,506,318

1.	STATUTORY INFORMATION

MIDA 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 requirement of paragraph 33.7.

Significant judgements and estimates

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Recognition of revenue on long-term contracts

Revenue from long-term construction contracts is recognised in accordance with the stage of completion based on costs incurred to date as a proportion of total anticipated costs (input method).

Recoverability of trade and other debtors

Trade and other debtors are recognised to the extent that they are judged recoverable. The directors' reviews are performed to estimate the level of provision required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain.

The directors make allowances for doubtful debts based on an assessment of the recoverability of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such a difference will impact the carrying value of debtors and the charge in the profit and loss account.

Provisions

A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow that reflects the time value of money and the risks specific to the liability.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ, the directors` judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

Turnover

Revenue from construction contracts

Revenue from long-term contracts is recognised over time based on the percentage of completion method. The amount of revenue recognised reflects the stage of completion and the progress towards satisfying performance obligations for contracts as a whole, based on costs incurred to date.

Where the total income of a contract cannot be estimated reliably, contract turnover is recognised to

the extent that it is probable contract costs incurred will be recoverable.

Tangible fixed assets

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 cost

Fixtures and fittings

-

25% 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 Statement of Comprehensive Income, 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.

Amounts recoverable on long term contracts

Amounts recoverable on long term contracts represent billed amounts for contract work performed to date less progress payments. The total amount included in trade debtors at the year end is £9,729,691.

Adjustments to revenue relating to the percentage of completion input method are presented in deferred income on the balance sheet. The total amount at the year end is £6,526,007 split between due within one year and due after one year.

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:

2026

2025

£

£

Contract revenue

109,862,996

60,803,615

Other engineering services

870,131

622,338

110,733,127

61,425,953

All the turnover is generated from activities carried out in the UK.

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

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

4,246,998

3,020,867

Social security costs

507,704

329,772

Other pension costs

220,301

179,917

4,975,003

3,530,556

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

2026

2025

Directors

4

3

Admin Staff

10

8

Direct Staff

61

41

75

52

2026

2025

£

£

Directors' remuneration

214,573

106,828

Directors' pension contributions to money purchase schemes

105,035

112,500

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

Money purchase schemes

3

3

Information regarding the highest paid director for the year ended 31st March 2026 is as follows:

2026

£

Emoluments etc

101,747

Pension contributions to money purchase schemes

2,201

5.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Other operating leases

202,327

73,134

Depreciation - owned assets

28,078

43,441

Auditors' remuneration

42,000

40,000

6.

TAXATION

Analysis of the tax charge

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

2026

2025

£

£

Current tax:

UK corporation tax

(836,874

)

(239,382

)

Group relief cross charge

1,257,384

865,445

Total current tax

420,510

626,063

Deferred tax

2,917

(5,021

)

Tax on profit

423,427

621,042

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:

2026

2025

£

£

Profit before tax

8,066,332

4,321,294

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

2,016,583

1,080,324

Effects of:

Expenses not deductible for tax purposes

84,840

73,180

Capital allowances in excess of depreciation

(2,918

)

-

Depreciation in excess of capital allowances

-

5,109

Deferred Tax

2,917

(5,021

)

Research & development claim

(1,677,995

)

(532,550

)

Total tax charge

423,427

621,042

7.

DIVIDENDS

2026

2025

£

£

Interim

1,800,000

1,500,000

8.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1st April 2025

3,083

181,322

184,405

Additions

-

39,748

39,748

At 31st March 2026

3,083

221,070

224,153

DEPRECIATION

At 1st April 2025

3,083

133,408

136,491

Charge for year

-

28,078

28,078

At 31st March 2026

3,083

161,486

164,569

NET BOOK VALUE

At 31st March 2026

-

59,584

59,584

At 31st March 2025

-

47,914

47,914

9.

STOCKS

The value of stock at the year end is comprised of raw materials. All other items in connection with the long term contracts are treated as items within debtors and creditors, as appropriate.

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

18,630,533

10,447,832

Amounts owed by group undertakings

9,797,300

7,604,209

Other debtors

14,700

14,700

Tax

836,874

239,382

VAT

1,056,087

566,038

Prepayments and accrued income

75,518

63,983

30,411,012

18,936,144

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

14,983,098

8,925,904

Amounts owed to group undertakings

3,113,616

1,595,055

Social security and other taxes

398,408

125,741

Other creditors

245,707

372,314

Accruals and deferred income

8,889,693

3,491,760

27,630,522

14,510,774

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Accruals and deferred income

4,088,375

4,463,820