ACCOUNTS - Final Accounts preparation

Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:

Registered number: 09638679

J B 1 GROUP LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

J B 1 GROUP LIMITED

COMPANY INFORMATION

Director	J Singh


Registered number	09638679


Registered office	JB House
	117 Union Street
	West Bromwich
	West Midlands
	B70 6BZ


Independent auditors	RMY Clements Limited
	Statutory Auditors
	71 Francis Road
	Edgbaston
	Birmingham
	B16 8SP

J B 1 GROUP LIMITED

CONTENTS

	Page
Group strategic report	1
Director's report	2 - 3
Independent auditors' report	4 - 7
Consolidated statement of comprehensive income	8
Consolidated balance sheet	9
Company balance sheet	10
Consolidated statement of changes in equity	11 - 12
Company statement of changes in equity	13 - 14
Consolidated statement of cash flows	15 - 16
Consolidated analysis of net debt	17
Notes to the financial statements	18 - 36

J B 1 GROUP LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Introduction

The principal activity of the Group during the year was that of the construction of commercial buildings.

Business review

The directors are satisfied with the Group's trading results for the year ended 31 December 2025.

The Group has performed well in a competitive and challenging marketplace. During the period the Group has continued to look to develop the business where possible.

On 11 April 2025 the company completed the group reconstruction in which J B 1 Group Limited acquired JB 1 Plant Hire Limited via share for share exchange. The shareholders held the same proportionate interests before and after the transaction and the reconstruction has been accounting for under the merger accounting method as stated in note 2.3

Principal risks and uncertainties

The principal risks facing the company are raw material purchase prices and general market conditions. The directors feel that the company is well placed to deal with these risks but acknowledge that plans for the future growth and development of the Group may be conditional on factors not controllable by the business.

Financial key performance indicators

The directors consider key financial performance indicators to be turnover and gross profit margin. We feel that improvements and investments in processes made will improve efficiency and margin, resulting in a position that the directors are confident the company will continue to be profitable in the next financial year.

This report was approved by the board on 1 October 2026 and signed on its behalf.

J Singh

Director

Page 1

J B 1 GROUP LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director's responsibilities statement

The director is responsible for preparing the Group strategic report, the Director's report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the director is required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £1,747,784 (2024 - £1,530,130).

The Directors recommended payment of dividends of £220,000 (2024 - £210,000) during the period under review.

Director

The director who served during the year was:

J Singh

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:

∙so far as he is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Page 2

J B 1 GROUP LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Auditors

The auditors, RMY Clements Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 1 October 2026 and signed on its behalf.

J Singh

Director

Page 3

J B 1 GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J B 1 GROUP LIMITED

Opinion

We have audited the financial statements of J B 1 Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of changes in equity, the Company statement of changes in equity, the Consolidated statement of cash flows, the Consolidated analysis of net debt and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 31 December 2025 and of the Group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Page 4

J B 1 GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J B 1 GROUP LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report.

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

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

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of director's remuneration specified by law are not made; or

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

Page 5

J B 1 GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J B 1 GROUP LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Director's responsibilities statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Group or the Parent 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 an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- considered the nature of the industry and sector, control environment and business performance;
- considered the results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- considered the opportunities and incentives that may exist within the organisation for fraud;
- performed specific procedures to respond to the risk common with all audits under ISA's of management override;
- considered the legal and regulatory frameworks the Group operates in, including UK Companies Act, local tax legislation and health and safety law;
- discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the areas of management override of controls and revenue recognition.

We designed and executed procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. These procedures, together with the extent to which they are capable of detecting irregularities, including fraud, are detailed below:
- We made enquiries of management and reviewed correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations and to identify any irregularities or instances of fraud;
- We tested the appropriateness of a sample of accounting journals;
- We reviewed the Group’s accounting policies for non-compliance with relevant accounting standards;
- We considered significant accounting estimates for evidence of misstatement; and
- We considered the appropriateness of the revenue recognition policies.

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 Auditors' report.

Page 6

J B 1 GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J B 1 GROUP LIMITED (CONTINUED)

Use of our report

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

Manjinder Singh Sahota FCA FCCA CTA (Senior statutory auditor)

for and on behalf of

RMY Clements Limited

Statutory Auditors

71 Francis Road

Edgbaston

Birmingham

B16 8SP

1 October 2026

Page 7

J B 1 GROUP LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

		As restated
	2025	2024
Note	£	£


Turnover	4	29,706,604	35,183,851
Cost of sales		(21,356,631)	(28,206,522)
Gross profit		8,349,973	6,977,329
Distribution costs		(186,983)	(165,592)
Administrative expenses		(5,860,855)	(4,972,830)
Operating profit		2,302,135	1,838,907
Interest receivable and similar income	8	302	43
Interest payable and similar expenses	9	(431,774)	(306,355)
Profit before taxation		1,870,663	1,532,595
Tax on profit	10	(122,879)	(2,465)
Profit for the financial year		1,747,784	1,530,130

Profit for the year attributable to:
Owners of the parent Company	1,747,784	1,530,130
	1,747,784	1,530,130

Total comprehensive income for the year attributable to:
Owners of the parent Company		1,747,784	1,530,130

The notes on pages 18 to 36 form part of these financial statements.

Page 8

J B 1 GROUP LIMITED

REGISTERED NUMBER: 09638679

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	12		23,372,233		19,836,198
			23,372,233		19,836,198
Current assets
Debtors: amounts falling due within one year	14	5,450,076		6,964,549
Cash at bank and in hand	15	1,766,783		2,223,815
		7,216,859		9,188,364
Creditors: amounts falling due within one year	16	(8,812,380)		(9,935,499)
Net current liabilities			(1,595,521)		(747,135)
Total assets less current liabilities			21,776,712		19,089,063
Creditors: amounts falling due after more than one year	17		(3,963,645)		(2,926,669)
Provisions for liabilities
Deferred taxation	21	(276,861)		(153,982)
			(276,861)		(153,982)
Net assets			17,536,206		16,008,412

Capital and reserves
Called up share capital	22	20	10
Profit and loss account	23	17,536,186	16,008,402
Equity attributable to owners of the parent Company		17,536,206	16,008,412
		17,536,206	16,008,412

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2026.

J Singh

Director

The notes on pages 18 to 36 form part of these financial statements.

Page 9

J B 1 GROUP LIMITED

REGISTERED NUMBER: 09638679

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investments	13		41		31
			41		31
Current assets
Debtors: amounts falling due within one year	14	9,528,599		8,921,634
Cash at bank and in hand	15	4,015		81
		9,532,614		8,921,715
Creditors: amounts falling due within one year	16	(2,520)		(2,520)
Net current assets			9,530,094		8,919,195
Total assets less current liabilities			9,530,135		8,919,226


Net assets			9,530,135		8,919,226

Capital and reserves
Called up share capital	22		20		10
Profit and loss account brought forward		8,919,216		8,454,462
Profit for the year		830,899		674,754
Other changes in the profit and loss account		(220,000)		(210,000)
Profit and loss account carried forward			9,530,115		8,919,216
			9,530,135		8,919,226

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2026.

J Singh

Director

The notes on pages 18 to 36 form part of these financial statements.

Page 10

J B 1 GROUP LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£
At 1 January 2025	10	16,008,402	16,008,412	16,008,412
Comprehensive income for the year
Profit for the year	-	1,747,784	1,747,784	1,747,784
Total comprehensive income for the year	-	1,747,784	1,747,784	1,747,784
Contributions by and distributions to owners
Dividends: Equity capital	-	(220,000)	(220,000)	(220,000)
Shares issued during the year	10	-	10	10
Total transactions with owners	10	(220,000)	(219,990)	(219,990)
At 31 December 2025	20	17,536,186	17,536,206	17,536,206

The notes on pages 18 to 36 form part of these financial statements.

Page 11

J B 1 GROUP LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£
At 1 January 2024	10	14,688,272	14,688,282	14,688,282
Comprehensive income for the year
Profit for the year	-	1,530,130	1,530,130	1,530,130
Total comprehensive income for the year	-	1,530,130	1,530,130	1,530,130
Contributions by and distributions to owners
Dividends: Equity capital	-	(210,000)	(210,000)	(210,000)
Total transactions with owners	-	(210,000)	(210,000)	(210,000)
At 31 December 2024	10	16,008,402	16,008,412	16,008,412

The notes on pages 18 to 36 form part of these financial statements.

Page 12

J B 1 GROUP LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2025	10	8,919,216	8,919,226
Comprehensive income for the year
Profit for the year	-	830,899	830,899
Total comprehensive income for the year	-	830,899	830,899
Contributions by and distributions to owners
Dividends: Equity capital	-	(220,000)	(220,000)
Shares issued during the year	10	-	10
Total transactions with owners	10	(220,000)	(219,990)
At 31 December 2025	20	9,530,115	9,530,135

The notes on pages 18 to 36 form part of these financial statements.

Page 13

J B 1 GROUP LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	10	8,454,462	8,454,472
Comprehensive income for the year
Profit for the year	-	674,754	674,754
Total comprehensive income for the year	-	674,754	674,754
Contributions by and distributions to owners
Dividends: Equity capital	-	(210,000)	(210,000)
Total transactions with owners	-	(210,000)	(210,000)
At 31 December 2024	10	8,919,216	8,919,226

The notes on pages 18 to 36 form part of these financial statements.

Page 14

J B 1 GROUP LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

				As restated
			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	1,747,784	1,530,130
Adjustments for:
Depreciation of tangible assets	2,334,706	2,012,850
Profit/(loss) on disposal of tangible assets	(409,303)	41,970
Interest paid	431,774	306,355
Interest received	(302)	(43)
Taxation charge	122,879	2,465
Decrease in debtors	1,514,472	332,776
(Decrease)/increase in creditors	(959,764)	323,225
Corporation tax (paid)	(2,465)	(2,258)
Net cash generated from operating activities	4,779,781	4,547,470

Cash flows from investing activities
Purchase of tangible fixed assets	(8,614,953)	(4,663,151)
Sale of tangible fixed assets	3,153,515	356,573
Interest received	302	43
HP interest paid	(325,735)	(255,878)
Net cash from investing activities	(5,786,871)	(4,562,413)
Cash flows from financing activities
Issue of ordinary shares	10	-
New secured loans	-	749,464
Repayment of loans	(308,814)	(156,197)
Repayment of/new finance leases	1,184,901	(1,007,794)
Dividends paid	(220,000)	(210,000)
Interest paid	(106,039)	(50,477)
Net cash used in financing activities	550,058	(675,004)
Net (decrease) in cash and cash equivalents	(457,032)	(689,947)
Cash and cash equivalents at beginning of year	2,223,815	2,913,762
Cash and cash equivalents at the end of year	1,766,783	2,223,815

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,766,783	2,223,815

Page 15

J B 1 GROUP LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

			As restated
		2025	2024
		£	£

	1,766,783	2,223,815

The notes on pages 18 to 36 form part of these financial statements.

Page 16

J B 1 GROUP LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 DECEMBER 2025


(As restated) At 1 January 2025	Cash flows	New finance leases	At 31 December 2025
£	£	£	£

Cash at bank and in hand	2,223,815	(457,032)	-	1,766,783
Debt due after 1 year	(178,228)	71,745	-	(106,483)
Debt due within 1 year	(905,657)	237,069	-	(668,588)
Finance leases	(5,526,269)	4,673,685	(5,858,586)	(6,711,170)
	(4,386,339)	4,525,467	(5,858,586)	(5,719,458)

The notes on pages 18 to 36 form part of these financial statements.

Page 17

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom.

The Company's registered office is JB House 117 Union Street, West Bromwich, West Midlands, England, B70 6BZ.

The principal activity of the group in the period under review was construction services for commercial buildings.

The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2016.

Page 18

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Group reconstruction

On 11 April 2025 the company completed the group reconstruction in which J B 1 Group Limited acquired J B 1 Plant Hire Limited via share for share exchange. The shareholders held the same proportionate interests before and after the transaction.

Basis for merger accounting

As the transaction occured under common control, it does not meet the defination of a business combination under FRS 102 section 19. Merger accounting has therefore been applied.

Accounting treatment

All assets and liabilities have been recognised at book value.

The results of all combining entities are included for the full reporting period.

Comparatives have been restated as if the group had always existed in its current form.

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 19

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Construction contracts

The company recognises contract revenue and contract costs associated when the outcome of a contract can be estimated reliably, in line with the stage of completion at the end of the financial year. The stage of completion is calculated as the proportion of costs incurred for work performed to date bear to the estimated total costs.

2.6

Operating leases: the Group as lessee

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

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 20

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 21

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	5%
Plant and machinery	-	10%
Motor vehicles	-	20%
Fixtures and fittings	-
Office equipment	-	10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 22

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Page 23

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.18

Financial instruments (continued)

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 24

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2 to these financial statements, management is required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Balance Sheet date and the amounts reported for revenues and expenses during the year. The estimates and assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. The following judgments have had the most significant effect on the amounts recognised in the financial statements:

Depreciation

Management reviews its estimate of the useful lives of depreciable assets at each reporting date, based on the expected utility of the assets. Residual value and useful life assessments consider issues such as future market conditions, the remaining life of the asset and maintenance programmes.

Impairment
Management assesses the impairment of property, plant and equipment subject to depreciation whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors considered important that may trigger an impairment review include the following: significant underperformance relative to the historical or projected future operating results; changes in the manner of the use of the acquired assets or the strategy for the overall business; and significant negative industry or economic trends, taking into account market knowledge, professional judgment and historical comparable transactions.

Construction contracts - stage of completion
Management reviews the estimated stage of completion of its long term contracts, based on its budgeted project costs which are costed at the beginning of every project. Variations to the project costs are reviewed and authorised by management. Projects going over the bill of materials also are reviewed and authorised by management. These are all considerations used to estimate the stage of completion of a contract at the financial year end.

Turnover

The whole of the turnover is attributable to the principal activity of the company.

All turnover arose within the United Kingdom.

Fees payable to the Company's auditors for the audit of the consolidated and Parent Company's financial statements

20,820

21,150

Page 25

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	Employees
	Staff costs, including director's remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	6,848,215	6,694,665
Social security costs	142,926	83,169
Cost of defined contribution scheme	192,536	143,896
	7,183,677	6,921,730

The average monthly number of employees, including the director, during the year was as follows:

	2025	2024
	No.	No.

Employees	148	148

The Company has no employees other than the directors.

7.	Director's remuneration
		2025	2024
		£	£

Director's emoluments	9,000	9,000
	9,000	9,000

During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.

8.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	302	43
		302	43

Page 26

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	105,488	31,287
Other loan interest payable	551	19,190
Finance leases and hire purchase contracts	325,735	255,878
	431,774	306,355

Corporation tax
Current tax on profits for the year	-	2,465
	-	2,465

Total current tax	-	2,465

Deferred tax
Origination and reversal of timing differences	122,879	-
Total deferred tax	122,879	-


	Taxation on profit on ordinary activities	122,879	2,465

Page 27

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

10.Taxation (continued)

Profit on ordinary activities before tax

1,870,663

1,532,595

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	467,666	383,149
Effects of:
Expenses not deductible for tax purposes	(15,307)	18,283
Capital allowances for year in excess of depreciation	(714,769)	(218,937)
Utilisation of tax losses	-	(51,237)
Short-term timing difference leading to an increase (decrease) in taxation	122,879	-
Capital losses utilised	(40,939)	-
Unrelieved tax losses carried forward	607,817	-
Other differences leading to an increase (decrease) in the tax charge	-	(450)
Group relief	(304,468)	(128,343)
Total tax charge for the year	122,879	2,465

11.	Dividends
		2025	2024
		£	£

Ordinary
Dividends paid	220,000	210,000
	220,000	210,000

Page 28

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.	Tangible fixed assets
	Group

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£	£
Cost or valuation (as restated)
At 1 January 2025	6,902,494	17,028,690	2,144,990	4,200	109,331	26,189,705
Additions	3,362,008	4,689,353	560,552	-	3,040	8,614,953
Disposals	(1,822,680)	(2,025,102)	(214,901)	-	-	(4,062,683)
At 31 December 2025	8,441,822	19,692,941	2,490,641	4,200	112,371	30,741,975
Depreciation
At 1 January 2025	114,620	5,185,032	967,652	350	85,853	6,353,507
Charge for the year on owned assets	22,604	1,911,040	396,967	840	3,255	2,334,706
Disposals	-	(1,137,663)	(180,808)	-	-	(1,318,471)
At 31 December 2025	137,224	5,958,409	1,183,811	1,190	89,108	7,369,742
Net book value
At 31 December 2025	8,304,598	13,734,532	1,306,830	3,010	23,263	23,372,233
At 31 December 2024	6,787,874	11,843,659	1,177,337	3,850	23,478	19,836,198

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Freehold	8,304,598	6,787,874
	8,304,598	6,787,874

Page 29

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Plant and machinery	10,455,183	11,072,002
Motor vehicles	1,165,897	961,684
	11,621,080	12,033,686

13.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	31
	Additions	10
	At 31 December 2025	41

On 11 April 2025 the company acquired the entire share capital of JB 1 Plant Hire Limited (Company registration number 12837304).

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding

J B Construction 1 Limited	Ordinary	100%
J B Plant Limited	Ordinary	100%
J B 1 Properties Limited	Ordinary	100%
J B Developments 1 Limited	Ordinary	100%
JB 1 Plant Hire Limited	Ordinary	100%

Page 30

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Subsidiary undertakings (continued)

The aggregate of the share capital and reserves as at 31 December 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

J B Construction 1 Limited	3,837,264	823,112
J B Plant Limited	3,375,540	308,879
J B 1 Properties Limited	305,321	237,860
J B Developments 1 Limited	166,343	84,360
JB 1 Plant Hire Limited	321,644	293,674

14.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	3,500,379	3,341,075	-	-
Amounts owed by group undertakings	-	-	8,803,650	8,133,250
Other debtors	1,526,435	1,744,292	724,949	788,384
Prepayments and accrued income	423,262	1,879,182	-	-
	5,450,076	6,964,549	9,528,599	8,921,634

15.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	1,766,783	2,223,815	4,015	81
	1,766,783	2,223,815	4,015	81

Page 31

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

16.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	668,588	905,657	-	-
Trade creditors	3,968,053	4,629,847	840	1,680
Corporation tax	-	2,465	-	-
Other taxation and social security	474,016	481,755	-	-
Obligations under finance lease and hire purchase contracts	2,854,008	2,777,828	-	-
Other creditors	765,188	1,118,951	-	-
Accruals and deferred income	82,527	18,996	1,680	840
	8,812,380	9,935,499	2,520	2,520

Obligations under finance lease of £2,854,008 (2024 £2,777.828) are secured over the tangible fixed assets to which they relate.

17.	Creditors: Amounts falling due after more than one year
		Group	Group
		2025	2024
		£	£

Bank loans	106,483	178,228
Net obligations under finance leases and hire purchase contracts	3,857,162	2,748,441
	3,963,645	2,926,669

Obligations under finance lease of £3,857,162 (2023: £2,748,441) are secured over the tangible fixed assets to which they relate.

Page 32

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

18.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group
		2025	2024
		£	£

Amounts falling due within one year
Bank loans	668,588	905,657
	668,588	905,657
Amounts falling due 1-2 years
Bank loans	-	11,363
	-	11,363
Amounts falling due 2-5 years
Bank loans	106,483	166,865
	106,483	166,865

	775,071	1,083,885

19.	Hire purchase and finance leases
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group
		2025	2024
		£	£

Within one year	3,091,984	3,171,639
Between 1-5 years	3,756,985	3,362,424
	6,848,969	6,534,063

Page 33

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

20.	Financial instruments
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

	Financial assets
	Financial assets measured at amortised cost	6,766,784	7,299,967	9,532,614	8,912,491

	Financial liabilities
	Financial liabilities measured at amortised cost	(12,275,234)	(12,354,993)	(2,520)	(11,735)

	Financial assets measured at amortised cost comprise of amounts owed from group companies (Company only), bank and cash, trade debtors and other debtors.
	Financial liabilities measured at amortised cost comprise of bank loans, trade creditors, obligations under finance lease and hire purchase contracts, other creditors and accruals and deferred income.

Page 34

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

21.	Deferred taxation
	Group

		2025
		£

	At beginning of year	(153,982)
	Charged to profit or loss	(122,879)
	At end of year	(276,861)

Company

		2025

	At end of year	-

The provision for deferred taxation is made up as follows:
	Group	Group
	2025	2024
	£	£

	Accelerated capital allowances	(276,861)	(153,982)
		(276,861)	(153,982)

22.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

20 (2024 - 10) Ordinary shares of £1.00 each	20	10

During the year the company issued an additional 10 ordinary £1 shares.

23.

Reserves

Profit and loss account

The profit and loss reserves are all considered distributable.

Page 35

J B 1 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

24.	Pension commitments

The group operates a group defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £192,536 (2024 - £143,896). Contributions totalling £13,198 (2024 - £13,413) were payable to the fund at the balance sheet date and are included in creditors.

25.

Related party transactions

As at 31 December 2025, J B 1 Group Limited was owed £928,568 (2024: £779,296) in respect of loans by companies which J Singh is a director and shareholder of. These balances are held in trade debtors and other debtors. J B 1 Group Limited owed balances of £703,695 (2024: £306,313) to these companies. These balances are held in other creditors and trade creditors. The group made sales of £114,172 (2024: £35,010) and incurred cost of sales of £649,638 (2024: £554,926) during the year with these companies. These transactions were on an arms length basis.

26.	Controlling party

J B 1 Group Limited is controlled by J Singh and K Johal by virtue of their equal shareholding.

Page 36