ACCOUNTS - Final Accounts

OPERATING PROFIT

The operating profit is stated after charging:

Registered number: 09826528

CONNECT ACCESS GROUP LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

CONNECT ACCESS GROUP LIMITED

COMPANY INFORMATION

DIRECTORS	Mr O J Cave (resigned 20 August 2025)
	Mr V Caiger
	Ms K Boswell
	Mr K Watling (appointed 9 June 2025)


COMPANY SECRETARY	K Boswell


REGISTERED NUMBER	09826528


REGISTERED OFFICE	Hadham Park
	Hadham Road
	Bishop's Stortford
	Hertfordshire
	CM23 1JH


INDEPENDENT AUDITORS	Price Bailey LLP
	Chartered Accountants & Statutory Auditors
	Causeway House
	1 Dane Street
	Bishop's Stortford
	Hertfordshire
	CM23 3BT

CONNECT ACCESS GROUP LIMITED

CONTENTS

	Page
Group Strategic Report	1
Directors' Report	2 - 3
Independent Auditors' Report	4 - 7
Consolidated Statement of Comprehensive Income	8
Consolidated Statement of Financial Position	9
Company Statement of Financial Position	10
Consolidated Statement of Changes in Equity	11
Company Statement of Changes in Equity	12
Consolidated Statement of Cash Flows	13
Notes to the Financial Statements	14 - 28

CONNECT ACCESS GROUP LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

BUSINESS REVIEW

Connect Access Group is an award-winning provider of high-quality scaffolds, access and lifting solutions, delivering bespoke designs in line with BS EN Standards across London and the South East.

During the year, we maintained a strong focus on driving efficiencies and improving margins. Despite challenging and unexpected economic shifts in the industry, turnover slightly decreased to £15.27m (2025 - £17.55m). Profit after tax was £2.15m (2025 - £3.30m).

We’re proud that the results of our third year as an Employee Ownership Trust (EOT) reflects the continued hard work and dedication of everyone across the business. Looking ahead, we remain committed to growth and to sharing the success with all the team.

A key aspect of this commitment is our continued investment in our people, supporting lifelong learning, offering apprenticeships, and providing opportunities for vocational training to help our team reach their full potential.

The markets in which we operate in remain highly competitive. However, the depth of knowledge, skills, and experience across the team at Connect allows us to serve a broad range of sectors, including construction, industrial, heritage, events, infrastructure, rail and asbestos. Providing a degree of resilience to market changes.

We continue to pride ourselves on delivering services safely and sustainably, supporting our clients in reducing
their environmental impact. We have once again retained all key supply chain credentials, including: NASC
audited membership, FORS Gold accreditation for our vehicle fleet and RoSPA President’s Medal Award, recognising eleven consecutive years of Gold awards in the RoSPA Health and Safety Awards.

As always, we are extremely proud of and grateful for our remarkable team, their professionalism, dedication, and commitment are what sets us apart.

PRINCIPAL RISKS AND UNCERTAINTIES

The current economic and political climate presents several uncertainties. These developments are being closely monitored by the Board.

Our ongoing investment in the research and development of new technologies, systems of work, and equipment naturally carries a degree of risk and uncertainty.

Nevertheless, the Leadership Team remains confident that, through continuous monitoring and strategic review of our policies and procedures, these risks can be appropriately managed and their potential impact mitigated.

FINANCIAL KEY PERFORMANCE INDICATORS

The principal objective of the business is to achieve sustainable growth and deliver maximum return by providing exceptional service to our customers while creating opportunities for all staff.

Our Management Team continues to monitor and drive performance through departmental KPIs aligned with company-wide objectives. Despite ongoing challenges, the year’s results are considered promising.

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

Mr V Caiger

Director

Date: 11 June 2026

Page 1

CONNECT ACCESS GROUP LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

The Directors present their report and the financial statements for the year ended 31 January 2026.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £2,149,699 (2025 - £3,300,042).

The Directors do not propose a final dividend.

DIRECTORS

The Directors who served during the year were:

Mr O J Cave (resigned 20 August 2025)

Mr V Caiger

Ms K Boswell

Mr K Watling (appointed 9 June 2025)

FUTURE DEVELOPMENTS

Within Management and Administration our investments in our ITC systems will deliver further efficiencies and continue to improve our customer service.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:

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

∙the Director 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.

AUDITORS

Under section 487(2) of the Companies Act 2006, Price Bailey LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Page 2

CONNECT ACCESS GROUP LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

DIRECTORS' RESPONSIBILITIES STATEMENT

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

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with 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 Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

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

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

Mr V Caiger

Director

Date: 11 June 2026

Page 3

CONNECT ACCESS GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONNECT ACCESS GROUP LIMITED

OPINION

We have audited the financial statements of Connect Access Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 January 2026, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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 Group's and of the Parent Company's affairs as at 31 January 2026 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 Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 Directors with respect to going concern are described in the relevant sections of this report.

Page 4

CONNECT ACCESS GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONNECT ACCESS 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 Directors are 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 Directors' 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 Directors' 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 Directors' 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 Directors' remuneration specified by law are not made; or

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

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine 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 Directors are 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 Directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.

Page 5

CONNECT ACCESS GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONNECT ACCESS GROUP 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 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:

• enquiry of management around actual and potential litigation and claims, and any known instances of
non-compliance;
• performing audit work over the risks of management override of controls, including testing of journal
entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for bias;
• reviewing director's meeting minutes for any financial or non-financial information which could affect
disclosure, ensuring that areas in the minutes line up with those in other areas of the audit file; and
• reviewing our work throughout the audit file for evidence of non-compliance.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

CONNECT ACCESS GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONNECT ACCESS 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.

Tom Meeks FCCA (Senior Statutory Auditor)

for and on behalf of

Price Bailey LLP

Chartered Accountants

Statutory Auditors

Causeway House

1 Dane Street

Bishop's Stortford

Hertfordshire

CM23 3BT

Date: 11 June 2026

Page 7

CONNECT ACCESS GROUP LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 JANUARY 2026

	2026	2025
Note	£	£


Turnover	4	15,271,842	17,548,659
Cost of sales		(10,407,595)	(10,486,421)
Gross profit		4,864,247	7,062,238
Administrative expenses		(2,233,309)	(2,673,269)
Other operating income	5	349,620	130,514
Operating profit	6	2,980,558	4,519,483
Interest receivable and similar income	10	66,104	57,943
Interest payable and similar expenses	11	(2,078)	(3,086)
Profit before taxation		3,044,584	4,574,340
Tax on profit	12	(894,885)	(1,274,298)
Profit for the financial year		2,149,699	3,300,042

Profit for the year attributable to:
Owners of the parent Company		2,149,699	3,300,042

Total comprehensive income for the year attributable to:
Owners of the parent Company		2,149,699	3,300,042

There were no recognised gains and losses for 2026 or 2025 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2026 (2025 - £NIL).

The notes on pages 14 to 28 form part of these financial statements.

Page 8

CONNECT ACCESS GROUP LIMITED

REGISTERED NUMBER: 09826528

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	15		169,971		679,412
Tangible assets	16		1,037,979		1,181,618
			1,207,950		1,861,030
Current assets
Debtors: amounts falling due within one year	18	2,613,426		3,271,425
Cash at bank and in hand	19	2,455,125		1,797,023
		5,068,551		5,068,448
Creditors: amounts falling due within one year	20	(838,778)		(992,501)
Net current assets			4,229,773		4,075,947
Total assets less current liabilities			5,437,723		5,936,977
Provisions for liabilities
Deferred taxation	21		(218,232)		(242,185)
Net assets			5,219,491		5,694,792

Capital and reserves
Called up share capital	22	12,125,001	12,125,001
Capital redemption reserve	23	125,000	125,000
Profit and loss account	23	(7,030,510)	(6,555,209)
		5,219,491	5,694,792

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr V Caiger

Director

Date: 11 June 2026

The notes on pages 14 to 28 form part of these financial statements.

Page 9

CONNECT ACCESS GROUP LIMITED

REGISTERED NUMBER: 09826528

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Investments	17		12,000,000		12,000,000
Current assets
Debtors: amounts falling due within one year	18	242,710		266,004
Cash at bank and in hand	19	47,141		357
		289,851		266,361
Creditors: amounts falling due within one year	20	(16,258)		(14,152)
Net current assets			273,593		252,209

Net assets			12,273,593		12,252,209

Capital and reserves
Called up share capital	22	12,125,001	12,125,001
Capital redemption reserve	23	125,000	125,000
Profit and loss account carried forward		23,592	2,208
		12,273,593	12,252,209

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr V Caiger

Director

Date: 11 June 2026

The notes on pages 14 to 28 form part of these financial statements.

Page 10

CONNECT ACCESS GROUP LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2026

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£	£
At 1 February 2025	12,125,001	125,000	(6,555,209)	5,694,792	5,694,792
Comprehensive income for the year
Profit for the year	-	-	2,149,699	2,149,699	2,149,699
Total comprehensive income for the year	-	-	2,149,699	2,149,699	2,149,699
Contributions by and distributions to owners
Distributions to Employee Ownership Trust	-	-	(2,625,000)	(2,625,000)	(2,625,000)
Total transactions with owners	-	-	(2,625,000)	(2,625,000)	(2,625,000)
At 31 January 2026	12,125,001	125,000	(7,030,510)	5,219,491	5,219,491

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£	£
At 1 February 2024	12,125,001	125,000	(6,705,251)	5,544,750	5,544,750
Comprehensive income for the year
Profit for the year	-	-	3,300,042	3,300,042	3,300,042
Total comprehensive income for the year	-	-	3,300,042	3,300,042	3,300,042
Contributions by and distributions to owners
Distributions to Employee Ownership Trust	-	-	(3,150,000)	(3,150,000)	(3,150,000)
Total transactions with owners	-	-	(3,150,000)	(3,150,000)	(3,150,000)
At 31 January 2025	12,125,001	125,000	(6,555,209)	5,694,792	5,694,792

The notes on pages 14 to 28 form part of these financial statements.

Page 11

CONNECT ACCESS GROUP LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2026

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 February 2025	12,125,001	125,000	2,208	12,252,209
Comprehensive income for the year
Profit for the year	-	-	2,646,384	2,646,384
Total comprehensive income for the year	-	-	2,646,384	2,646,384
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(2,625,000)	(2,625,000)
Total transactions with owners	-	-	(2,625,000)	(2,625,000)
At 31 January 2026	12,125,001	125,000	23,592	12,273,593

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 February 2024	12,125,001	125,000	1,649	12,251,650
Comprehensive income for the year
Profit for the year	-	-	3,150,559	3,150,559
Total comprehensive income for the year	-	-	3,150,559	3,150,559
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(3,150,000)	(3,150,000)
Total transactions with owners	-	-	(3,150,000)	(3,150,000)
At 31 January 2025	12,125,001	125,000	2,208	12,252,209

The notes on pages 14 to 28 form part of these financial statements.

Page 12

CONNECT ACCESS GROUP LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit for the financial year	2,149,699	3,300,042
Adjustments for:
Amortisation of intangible assets	509,441	509,441
Depreciation of tangible assets	294,625	329,066
Loss on disposal of tangible assets	(4,765)	-
Interest paid	2,078	3,086
Interest received	(66,104)	(57,943)
Taxation charge	918,838	1,234,973
Decrease/(increase) in debtors	657,999	(148,840)
(Decrease) in creditors	(7,463)	(35,491)
(Decrease)/increase in provisions	(23,953)	39,325
Corporation tax (paid)	(1,065,098)	(1,491,686)
Net cash generated from operating activities	3,365,297	3,681,973

Cash flows from investing activities
Purchase of tangible fixed assets	(155,593)	(478,474)
Sale of tangible fixed assets	9,372	38,652
Interest received	66,104	57,943
Net cash from investing activities	(80,117)	(381,879)
Cash flows from financing activities
Dividends paid	(2,625,000)	(3,150,000)
Interest paid	(2,078)	(3,086)
Net cash used in financing activities	(2,627,078)	(3,153,086)
Net increase in cash and cash equivalents	658,102	147,008
Cash and cash equivalents at beginning of year	1,797,023	1,650,015
Cash and cash equivalents at the end of year	2,455,125	1,797,023

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	2,455,125	1,797,023

The notes on pages 14 to 28 form part of these financial statements.

Page 13

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	GENERAL INFORMATION

Connect Access Group Limited is a company limited by shares, incorporated in England and Wales. Its registered office is Hadham Park, Hadham Road, Bishop's Stortford, Hertfordshire, CM23 1JH.

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 Company's functional and presentational currency is that of Pounds Sterling

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 Statement of Financial Position, 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.

2.3

TURNOVER

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.

Page 14

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.4

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated Statement of Comprehensive Income over its useful economic life of 10 years.

Negative goodwill

Negative Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Negative Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Negative Goodwill is amortised on a straight line basis to the Consolidated Statement of Comprehensive Income over 10 years.

2.5

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 or reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property	-	10%	straight line
Plant and machinery	-	25%	reducing balance or 10% straight line
Motor vehicles	-	25%	reducing balance
Office equipment	-	25%	straight line
Computer equipment	-	25%	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.

2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

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

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.8

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.

2.9

FINANCIAL INSTRUMENTS

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the reporting date.

2.10

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 16

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.11

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.

2.12

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.

2.13

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.14

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 Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

2.15

INTEREST INCOME

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

2.16

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.

Page 17

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.17

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 reporting 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 reporting 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 reporting date.

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

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

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the asses. The useful economic lives and residual values ae reassessed annually. they are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 16 for the carrying amount of the tangible fixed assets and note 2.5 for the useful economic lives for each class of asset.

Page 18

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

TURNOVER

The whole of the turnover is attributable to that of scaffolding specialists.

All turnover arose within the United Kingdom.

5.	OTHER OPERATING INCOME
		2026	2025
		£	£

	Other operating income	349,620	130,514

Depreciation of tangible fixed assets	294,626	329,066
Amortisation of intangible assets, including goodwill	509,441	509,441
Other operating lease rentals	163,035	60,434
Defined contribution pension cost	98,637	100,819

7.	AUDITOR'S REMUNERATION
		Group	Group
		2026	2025
		£	£

FEES PAYABLE TO THE AUDITOR AND ITS ASSOCIATES IN RESPECT OF:
Audit of the financial statements	27,095	23,510
All other services	9,960	31,365
	37,055	54,875

Page 19

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

8.	EMPLOYEES
	Staff costs, including Directors' remuneration, were as follows:

		Group	Group
		2026	2025
		£	£


Wages and salaries	4,491,492	4,945,199
Social security costs	555,499	529,251
Cost of defined contribution scheme	98,637	100,818
	5,145,628	5,575,268

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

	2026	2025
	No.	No.

Administration	12	13
Operations management	25	22
Operatives	55	67

	92	102

The Company has no employees other than the Directors, who did not receive any remuneration (2025 - £NIL).

9.	DIRECTORS' REMUNERATION
		2026	2025
		£	£

Directors' emoluments	279,722	158,012
Group contributions to defined contribution pension schemes	10,873	2,470
	290,595	160,482

	During the year retirement benefits were accruing to 3 Directors (2025 - 3) in respect of defined contribution pension schemes.
	The highest paid Director received remuneration of £111,131 (2025 - £122,001).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £4,591 (2025 - £2,131).

10.	INTEREST RECEIVABLE
		2026	2025
		£	£

Other interest receivable

66,104

57,943

Page 20

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.	INTEREST PAYABLE AND SIMILAR EXPENSES
		2026	2025
		£	£

Bank interest payable

2,078

3,086

	Corporation tax
	Current tax on profits for the year	918,838	1,234,973

	Deferred tax
	Origination and reversal of timing differences	(23,953)	39,325


	Taxation on profit on ordinary activities	894,885	1,274,298

Profit on ordinary activities before tax

3,044,584

4,574,340

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	761,146	1,143,585
Effects of:
Non-tax deductible amortisation of goodwill and impairment	127,360	127,360
Non-taxable income less expenses not deductible for tax purposes, other than goodwill and impairment	6,379	4,418
Short-term timing difference leading to an increase (decrease) in taxation	-	(1,065)
Total tax charge for the year	894,885	1,274,298

Page 21

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

12.TAXATION (CONTINUED)

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charge.

13.	DIVIDENDS
		2026	2025
		£	£

Distributions to Employee Ownership Trust

2,625,000

3,150,000

14.	PARENT COMPANY PROFIT FOR THE YEAR

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 profit after tax of the parent Company for the year was £2,646,384 (2025 - £3,150,559).

15.	INTANGIBLE ASSETS
	Group

		Goodwill
		£
	Cost
	At 1 February 2025	5,574,027
	At 31 January 2026	5,574,027
	Amortisation
	At 1 February 2025	4,894,615
	Charge for the year on owned assets	509,441
	At 31 January 2026	5,404,056
	Net book value
	At 31 January 2026	169,971
	At 31 January 2025	679,412

Page 22

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

16.	TANGIBLE FIXED ASSETS
	Group

	Short-term leasehold property	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 February 2025	78,169	1,029,024	1,922,325	204,497	3,234,015
Additions	-	72,867	71,883	10,843	155,593
Disposals	-	-	(38,265)	(39,196)	(77,461)
Transfers between classes	-	(46,654)	117,391	14,365	85,102
At 31 January 2026	78,169	1,055,237	2,073,334	190,509	3,397,249
Depreciation
At 1 February 2025	74,920	575,220	1,234,962	167,295	2,052,397
Charge for the year on owned assets	1,748	85,241	189,784	17,852	294,625
Disposals	-	-	(35,059)	(37,795)	(72,854)
Transfers between classes	-	(3,302)	77,900	10,504	85,102
At 31 January 2026	76,668	657,159	1,467,587	157,856	2,359,270
Net book value
At 31 January 2026	1,501	398,078	605,747	32,653	1,037,979
At 31 January 2025	3,249	453,804	687,363	37,202	1,181,618

Page 23

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

17.	FIXED ASSET INVESTMENTS

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 February 2025	12,378,179
	At 31 January 2026	12,378,179
	Impairment
	At 1 February 2025	378,179
	At 31 January 2026	378,179
	Net book value
	At 31 January 2026	12,000,000
	At 31 January 2025	12,000,000

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Registered office	Principal activity	Class of shares	Holding

	Connect Scaffolding Limited	Hadham Park, Hadham Road, Bishop's Stortford, Hertfordshire, CM23 1JH	Scaffolding specialists	Ordinary	100%
	Archway Services Limited	Hadham Park, Hadham Road, Bishop's Stortford, Hertfordshire, CM23 1JH	Dormant	Ordinary	100%

Page 24

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

18.

DEBTORS

Group	Group	Company	Company
2026	2025	2026	2025
£	£	£	£


Trade debtors	2,299,441	2,788,084	-	-
Amounts owed by group undertakings	-	-	242,709	234,743
Other debtors	41,284	122,831	1	31,261
Prepayments and accrued income	272,701	360,510	-	-
	2,613,426	3,271,425	242,710	266,004

19.	CASH AND CASH EQUIVALENTS
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

	Cash at bank and in hand	2,455,125	1,797,023	47,141	357

20.	CREDITORS: Amounts falling due within one year
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Trade creditors	348,733	337,667	-	2,000
Corporation tax	192,938	344,198	457	186
Other taxation and social security	112,591	113,479	3,000	-
Other creditors	5,125	5,070	1	1
Accruals and deferred income	179,391	192,087	12,800	11,965
	838,778	992,501	16,258	14,152

Page 25

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

21.	DEFERRED TAXATION
	Group

	2026	2025
	£	£

At beginning of year	242,185	202,860
Charged to profit or loss	(23,953)	39,325
At end of year	218,232	242,185

The provision for deferred taxation is made up as follows:
	Group	Group
	2026	2025
	£	£

Accelerated capital allowances	218,798	243,908
Pension surplus	(566)	(1,723)
	218,232	242,185

The company had no deferred taxation balance.

22.	SHARE CAPITAL
		2026	2025
		£	£

Allotted, called up and fully paid

12,125,001 (2025 - 12,125,001) Ordinary shares of £1 each	12,125,001	12,125,001

23.

RESERVES

Capital redemption reserve

This reserve represents shares repurchased during prior periods.

Profit and loss account

This reserve represents accumulated comprehensive income less any dividends paid.

Page 26

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

24.	CONTINGENT LIABILITIES

The Group has entered into a debenture agreement, as guarantor, in favour of the lenders to Mr O J Cave in respect of any property or undertaking of the company arising to Mr O J Cave.

25.	CAPITAL COMMITMENTS
	At 31 January 2026 the Group and Company had capital commitments as follows:
		Group	Group
		2026	2025
		£	£

Contracted for but not provided in these financial statements

17,971

31,533

26.	PENSION COMMITMENTS

The Group operates a 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 £98,637 (2025 - £100,819). Contributions totalling £5,124 (2025 - £5,069) were payable to the fund at the balance sheet date.

27.	COMMITMENTS UNDER OPERATING LEASES
	At 31 January 2026 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2026	2025
		£	£

Operating leases
Not later than 1 year	204,321	80,642
Later than 1 year and not later than 5 years	359,874	230,426
	564,195	311,068

The Company had no commitments under non-cancellable operating leases at the reporting date.

Page 27

CONNECT ACCESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

28.

RELATED PARTY TRANSACTIONS

During the year, the Group received computer consultancy services totalling £31,623 (2025 - £30,165), from a Company under the control of Mr O J Cave. The amount owed to them at the year end was £843 (2025 - £900).

During the year the Group made payments in respect of the purchase and hire of scaffolding equipment, and property rental totalling £2,139,305 (2025 - £1,369,144) and made sales totalling £1,734 (2025 - £NIL) to companies controlled by Mr O J Cave. The amount owed to them at the year end was £127,281 (2025 - £131,735).

The Group has taken advantage of the exemptions under FRS 102 (Section 33.1A) not to disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.

29.	CONTROLLING PARTY

The ultimate controlling party is Connect Trustees Limited, as trustee of the Connect Employee Ownership Trust.

Page 28