ACCOUNTS - Final Accounts preparation

Auditors' remuneration

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

Registered number: 06983757

J B CONSTRUCTION 1 LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

J B CONSTRUCTION 1 LIMITED

COMPANY INFORMATION

Director	J Singh


Company secretary	J Singh


Registered number	06983757


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


Independent auditors	RMY Clements Limited
	Sterling House
	71 Francis Road
	Edgbaston
	Birmingham
	B16 8SP

J B CONSTRUCTION 1 LIMITED

CONTENTS

	Page
Strategic report	1
Director's report	2 - 3
Independent auditors' report	4 - 7
Statement of comprehensive income	8
Balance sheet	9
Statement of changes in equity	10 - 11
Analysis of net debt	12
Notes to the financial statements	13 - 27

J B CONSTRUCTION 1 LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Introduction

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

Business review

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

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

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 company 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 CONSTRUCTION 1 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 Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with 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 of the profit or loss of the Company for that period.

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

∙select suitable accounting policies for the Company'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 Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and 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 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 £873,112 (2024 - £1,051,627).

The Directors recommended payment of dividends of £831,000 (2024 - £675,000) 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 is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙ 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's auditors are aware of that information.

Page 2

J B CONSTRUCTION 1 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 CONSTRUCTION 1 LIMITED

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

Opinion

We have audited the financial statements of J B Construction 1 Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Analysis of net debt, the Balance sheet, the Statement of changes in equity 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 Company's affairs as at 31 December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 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 CONSTRUCTION 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J B CONSTRUCTION 1 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 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 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

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 Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Page 5

J B CONSTRUCTION 1 LIMITED

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

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 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 Company 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 Company’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.

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.

Page 6

J B CONSTRUCTION 1 LIMITED

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

Manjinder Singh Sahota FCA FCCA CTA (Senior statutory auditor)

for and on behalf of

RMY Clements Limited

Statutory Auditors

Sterling House

71 Francis Road

Edgbaston

Birmingham

B16 8SP

1 October 2026

Page 7

J B CONSTRUCTION 1 LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	4	28,646,731	31,610,289
Cost of sales		(24,394,799)	(27,822,914)
Gross profit		4,251,932	3,787,375
Administrative expenses		(3,212,697)	(2,677,548)
Operating profit		1,039,235	1,109,827
Interest payable and similar expenses	8	(43,244)	(58,200)
Profit before tax		995,991	1,051,627
Tax on profit	9	(122,879)	-
Profit for the financial year		873,112	1,051,627

There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 13 to 27 form part of these financial statements.

Page 8

J B CONSTRUCTION 1 LIMITED

REGISTERED NUMBER: 06983757

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	11		1,638,119		1,505,174
			1,638,119		1,505,174
Current assets
Debtors: amounts falling due within one year	12	6,485,594		6,061,701
Cash at bank and in hand	13	1,664,120		2,157,579
		8,149,714		8,219,280
Creditors: amounts falling due within one year	14	(5,017,965)		(5,200,105)
Net current assets			3,131,749		3,019,175
Total assets less current liabilities			4,769,868		4,524,349
Creditors: amounts falling due after more than one year	15		(605,743)		(525,215)
Provisions for liabilities
Deferred tax	19	(276,861)		(153,982)
			(276,861)		(153,982)
Net assets			3,887,264		3,845,152

Capital and reserves
Called up share capital	20	10	10
Profit and loss account	21	3,887,254	3,845,142
		3,887,264	3,845,152

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 13 to 27 form part of these financial statements.

Page 9

J B CONSTRUCTION 1 LIMITED

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	3,845,142	3,845,152
Comprehensive income for the year
Profit for the year	-	873,112	873,112
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	873,112	873,112
Contributions by and distributions to owners
Dividends: Equity capital	-	(831,000)	(831,000)
Total transactions with owners	-	(831,000)	(831,000)
At 31 December 2025	10	3,887,254	3,887,264

The notes on pages 13 to 27 form part of these financial statements.

Page 10

J B CONSTRUCTION 1 LIMITED

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	3,468,515	3,468,525
Comprehensive income for the year
Profit for the year	-	1,051,627	1,051,627
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	1,051,627	1,051,627
Contributions by and distributions to owners
Dividends: Equity capital	-	(675,000)	(675,000)
Total transactions with owners	-	(675,000)	(675,000)
At 31 December 2024	10	3,845,142	3,845,152

The notes on pages 13 to 27 form part of these financial statements.

Page 11

J B CONSTRUCTION 1 LIMITED

ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 DECEMBER 2025


At 1 January 2025	Cash flows	New finance leases	At 31 December 2025
£	£	£	£

Cash at bank and in hand	2,157,579	(493,459)	-	1,664,120
Debt due after 1 year	(35,864)	35,864	-	-
Debt due within 1 year	(109,091)	73,227	-	(35,864)
Related derivatives	-	297,528	(557,152)	(259,624)
Finance leases	(756,628)	297,528	(557,152)	(1,016,252)
	1,255,996	210,688	(1,114,304)	352,380

The notes on pages 13 to 27 form part of these financial statements.

Page 12

J B CONSTRUCTION 1 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 company 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 management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Disclosure exemptions

The company has adopted the following disclosure exemptions:

Under FRS 102 Section 1.12, the company is exempt from the requirements to prepare a statement of cash flows on the grounds that the ultimate parent company of the group, J B 1 Group Limited includes the company's cash flows in its own published consolidated financial statements. The shareholders of the ultimate parent undertaking have been notified in writing about the adoption of this exemption, and do not object to the adoption.

The entity is a 'qualifying entity' and has also taken advantage of the exemption from disclosing key management personnel (other than directors emoluments) under FRS 102 Section 1.12.

As the company is a wholly owned subsidiary of a company whose consolidated accounts include the results of the subsidiary and are publicly available, the company has taken advantage of the FRS 102 Section 33.1a exemption from disclosing transactions with group undertakings.

Page 13

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company 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.

2.4

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.

2.5

Borrowing costs

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

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

2.7

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

Page 14

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.7

Current and deferred taxation (continued)

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 operates and generates 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; and

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

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.

2.8

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.

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%	straight line
Motor vehicles	-	20%	straight line
Office equipment	-	20%	straight line

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.

2.9

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.

Page 15

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

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.

2.11

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.

2.12

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.

2.13

Financial instruments

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

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 or 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 Company'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.

Page 16

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.13

Financial instruments (continued)

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.

Financial liabilities

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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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.

Derecognised assets/liabilities

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flows expire, or are settled, or when the Company 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 Company 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 Company's contractual obligations expire or are discharged or cancelled.

2.14

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 17

J B CONSTRUCTION 1 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.

Page 18

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

8,950

Wages and salaries	6,013,351	5,913,870
Social security costs	142,926	83,169
Cost of defined contribution scheme	192,536	143,896
	6,348,813	6,140,935

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

	2025	2024
	No.	No.

Employees	124	129

7.	Director's remuneration
		2025	2024
		£	£

Director's emoluments	9,000	9,000
Company contributions to defined contribution pension schemes	120,000	70,000
	129,000	79,000

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

Directors are considered to be the key management of the company.

Page 19

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	6,571	14,203
Other loan interest payable	551	17,604
Finance leases and hire purchase contracts	36,122	26,393
	43,244	58,200



Total current tax	-	-

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


	Taxation on profit on ordinary activities	122,879	-

Page 20

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.Taxation (continued)

Profit on ordinary activities before tax

995,991

1,051,627

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	248,998	262,907
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	1,726	17,413
Capital allowances for year in excess of depreciation	7,026	(157,369)
Short-term timing difference leading to an increase (decrease) in taxation	122,879	-
Group relief	(257,750)	(122,951)
Total tax charge for the year	122,879	-

10.	Dividends
		2025	2024
		£	£

	Dividends payable	831,000	675,000
		831,000	675,000

Page 21

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11.	Tangible fixed assets

	Freehold property	Motor vehicles	Office equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2025	437,291	2,118,740	105,031	2,661,062
Additions	14,822	560,552	3,040	578,414
Disposals	-	(202,601)	-	(202,601)
At 31 December 2025	452,113	2,476,691	108,071	3,036,875
Depreciation
At 1 January 2025	114,620	957,152	84,116	1,155,888
Charge for the year on owned assets	22,604	393,972	2,180	418,756
Disposals	-	(175,888)	-	(175,888)
At 31 December 2025	137,224	1,175,236	86,296	1,398,756
Net book value
At 31 December 2025	314,889	1,301,455	21,775	1,638,119
At 31 December 2024	322,671	1,161,588	20,915	1,505,174

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

Freehold	314,889	322,672
	314,889	322,672

Page 22

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11.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
	£	£


Motor vehicles	1,160,522	945,934
	1,160,522	945,934

12.

Debtors

					2025	2024
					£	£


Trade debtors	2,866,664	2,560,442
Amounts owed by group undertakings	3,063,928	1,390,436
Other debtors	141,902	231,641
Prepayments and accrued income	413,100	1,879,182
	6,485,594	6,061,701

13.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	1,664,120	2,157,579
	1,664,120	2,157,579

Page 23

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

14.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	35,864	109,091
Trade creditors	3,761,889	4,301,367
Amounts owed to group undertakings	502,938	40,512
Other taxation and social security	159,524	331,484
Obligations under finance lease and hire purchase contracts	410,508	267,277
Other creditors	114,527	122,310
Accruals and deferred income	32,715	28,064
	5,017,965	5,200,105

The following liabilities were secured:
	2025	2024
	£	£


Obligations under finance lease and hire purchase contracts	410,508	267,277
	410,508	267,277

Details of security provided:

Secured creditors

Obligations under finance lease of £410,508 (2024: £267,277) are secured over the tangible fixed assets to which they relate.

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

Bank loans	-	35,864
Net obligations under finance leases and hire purchase contracts	605,743	489,351
	605,743	525,215

Secured creditors

Obligations under finance lease of £605,743 (2024: £489,351) are secured over the tangible fixed assets to which they relate.

Page 24

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Amounts falling due within one year
Bank loans	35,864	109,091
	35,864	109,091

Amounts falling due 2-5 years
Bank loans	-	35,864
	-	35,864

	35,864	144,955

Within one year	411,661	284,126
Between 1-5 years	702,730	542,865
	1,114,391	826,991

Page 25

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

18.	Financial instruments
		2025	2024
		£	£

	Financial assets
	Financial assets measured at amortised cost	7,736,614	6,340,098

	Financial liabilities
	Financial liabilities measured at amortised cost	5,464,184	(5,393,836)

	Financial assets measured at amortised cost comprise bank and cash balances, trade debtors, other debtors and amounts owed by group undertakings.
	Financial liabilities measured at amortised cost comprise bank loans, trade creditors, amounts owed to group undertakings, obligations under finance leases and hire purchase contracts and other creditors.

19.	Deferred taxation

		2025
		£

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

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

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

Page 26

J B CONSTRUCTION 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

20.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

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

21.

Reserves

Profit and loss account

The profit and loss reserves are all considered distributable.

22.	Pension commitments

The company operates a group defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £192,536 (2024 - £143,896). Contributions totalling £11,675 (2024 - £12,952) were payable to the fund at the balance sheet date and are included in creditors.

23.	Related party transactions
	As the company is a wholly owned subsidiary of a company whose consolidated accounts include the results of the subsidiary and are publicly available, the company has taken advantage of the FRS 102 Section 33.1a exemption from disclosing transactions with group undertakings.

24.	Controlling party

The company's ultimate parent undertaking is J B 1 Group Limited, a company registered in England and Wales. A copy of the parent company consolidated accounts can be obtained from Companies House.

Page 27