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

The principal activity of the company is the provision of environmental and critical infrastructure services to the fuel and energy sector across the UK and Ireland, serving customers in markets where compliance, safety, reliability and technical capability are critical.

The directors are pleased to report another strong year of growth for the company, demonstrating the resilience of the business model and the continued execution of its strategic plan. Turnover increased by 38.5% to £15,888,729, reflecting the full-year contribution from the FY25 acquisitions of Corroguard and Greenarc Electrical and those company’s hived up in the prior year (LCM Coatings & Linings Ltd & Sprayglass International Limited). This was also supported by organic growth through a focus on customer service and operational excellence, and the cross selling of LCM’s widening service offering.

Performance was supported by a continued focus on customer service, operational excellence and the expansion of LCM’s service offering and technical capability. Gross profit increased by £1,957,233 (+45%), supported by disciplined commercial management, while gross margin remained robust at 39.6% (2025: 37.8%), reflecting the mix of service lines delivered during the year.

The directors consider EBITDA to be the most relevant measure of underlying business performance. EBITDA increased by £754,278 (+37.9%) to £2,746,862 in the reporting period, with EBITDA margin maintained at 17.3%. This consistency demonstrates the company’s ability to scale while maintaining operational discipline. Reconciliation of EBITDA to operating profit is provided through the add-back of depreciation and amortisation charged in the year (see note 4) and impairment loss.

The company closed the year with net assets of £5,165,230 (2025: £3,491,993). This strengthened balance sheet and cash generation provide a solid platform to support continued investment, strategic acquisitions and future growth.

The directors actively monitor the principal risks and uncertainties associated with the company’s markets and operations. The group’s approach is focused on maintaining strong governance, operational resilience and disciplined financial management.

Legal and regulatory

The business operates in a highly regulated industry and in potentially hazardous environments. Health, safety and environmental risk are therefore treated as strategic priorities. These risks are managed through a suitably qualified health and safety team, robust operational controls and experienced management teams with deep sector expertise.

Credit risk

Credit risk is principally connected to trade debtors and the collection of balances owed. The company manages this exposure through credit rating software, customer experience, active debtor management and close monitoring of cash receipts, supporting disciplined working capital control.

Competition

Competition remains a feature of the markets in which the company operates. The group mitigates this risk by developing long-term customer relationships, maintaining high standards of service delivery and investing in operational excellence. Continued diversification of services and geographies further strengthens the company’s competitive position.

Macro-economic risks

Macro-economic factors, including interest rate movements, inflation, recessionary pressures and credit market conditions, could affect the company’s cost base, access to finance or sales opportunities. The company manages these risks through close cost control, regular review of its sales pipeline and disciplined execution of its strategic plan.

Following the year end, the company completed a number of acquisitions, supported by its banking partners, as it continued to execute its growth strategy.

Octane Holdings Group Limited, Octane Draincare Limited, Petro Systems Limited and Environmental Construction Services Limited have all joined the LCM Group. These acquisitions increase geographical reach, broaden technical capability and expand the customer base, creating further opportunities for cross-selling and operational synergies.

The directors consider the company to be well positioned for sustained and scalable growth. The business benefits from strong recurring revenues, a broader service platform, increased cross-selling opportunities and a proven acquisition strategy. The company will continue to seek opportunities to grow in both new and existing markets while maintaining its focus on margin quality, cash generation and operational excellence.

The group considers its key performance indicators to be:

These KPIs are monitored monthly and shared with stakeholders, providing clear visibility of trading performance, margin progression and cash generation.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2026.

The principal activity of the company continued to be that of fuel asset management and risk mitigation.

The results for the year are set out on page 9.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The auditor, PM+M Solutions for Business LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

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

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

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

We have audited the financial statements of LCM Environmental Services Limited (the 'company') for the year ended 31 March 2026 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including 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 March 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the 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 strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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

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

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

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

As explained more fully in the directors' responsibilities statement, 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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 auditor's 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

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.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

• the nature of the industry and sector, control environment and business performance including the design of the Company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;

• results of our enquiries of management about their own identification and assessment of the risks of irregularities;

• the matters discussed among the audit engagement team and relevant specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud;

• any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

  • identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

  • detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

  • the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of commercial income, posting of unusual journals and complex transactions; and manipulating the Company's performance profit measures and other key performance indicators to meet remuneration targets and externally communicated targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety regulations, pensions legislation and tax legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

• in addressing the identified risks of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's 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 member, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

LCM Environmental Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is LCM Environmental The Oil Depot, Wyre Street, Padiham, Lancashire, BB12 8DF.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of LCM Environmental Services Holdings Limited, a company incorporated in England and Wales. These consolidated financial statements are available from its registered office, LCM Environmental The Oil Depot, Wyre Street, Padiham, Lancashire, BB12 8DF.

During the financial period, the company assumed the trade, assets, and liabilities previously carried out by one of its subsidiaries. This internal reorganisation has been accounted for as a transfer of trade within the group and does not constitute a business combination under applicable accounting standards.

The assets and liabilities transferred have been recognised at their carrying amounts at the date of transfer. No gain or loss has been recognised on the transfer, and no goodwill has arisen.

The prior year comparative amounts within the profit and loss account have been restated to reflect a revised classification of wage costs between direct and indirect categories.

During the current year, the company reviewed its presentation of staff costs and determined that certain wages previously classified as indirect are more appropriately classified as direct, in order to better reflect the nature of the costs and improve consistency with current year reporting.

Accordingly, the comparative figures have been re-presented on the same basis. This reclassification has had no impact on the overall profit for the year, net assets, or cash flows, but has affected the presentation within cost headings in the profit and loss account.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The nature and timing of satisfaction of performance obligations of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on sign off of works), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 15 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Where a subsidiary’s trade and net assets are hived up into the parent company, the carrying value of the investment in the subsidiary is reviewed. To the extent that the investment relates to the net assets and trade transferred, a portion of the investment is reclassified to intangible fixed assets as goodwill.

The goodwill arising on hive-up is calculated based on the original acquisition date of the subsidiary and represents the excess of the consideration paid over the fair value of the identifiable net assets acquired at that date. The amount of goodwill transferred is adjusted for amortisation that would have been charged from the acquisition date to the date of the hive-up, in accordance with the Group’s amortisation policy of ten to fifteen years. The accumulated amortisation from the date of acquisition to the date of hive up is recognised in reserves.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Work in progress and stock of consumables are stated at the lower of cost and their value in use.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. These judgements have been applied in the following areas, deferred tax, the useful lives of property, plant and equipment, the useful lives of intangible assets and impairment of fixed asset investments.

We do not foresee any of these judgements and underlying assumptions being of a key nature to the reporting of the financial statements.

Comparative information has been re-presented to align with the current year geographical analysis.

All turnover arose from the principal activity of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

Management has recognised a loss on disposal of financial assets held at cost arising on the hive-up of investments within the group.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

During the year, the trade and net assets of Corroguard Ltd were hived up into the Company.

Subsequently, all companies hived up within the past 2 financial years were then dissolved post year end (LCM Coatings & Linings Ltd, Sprayglass International Limited and Corroguard Ltd.)

Details of the company's subsidiaries at 31 March 2026 are as follows:

During the current period, the Company assumed the trade, assets and liabilities previously carried on by Corroguard Ltd as part of an internal group reorganisation. This transfer has been accounted for as a group reconstruction in accordance with FRS 102, and does not constitute a business combination.

The assets and liabilities transferred have been recognised at their existing carrying amounts at the date of transfer. No gain or loss has been recognised on the transfer of the trade, and no goodwill has arisen.

Subsequently, Corroguard Ltd, LCM Coatings and Linings Ltd and Sprayglass International Limited have been dissolved. Accordingly, the Company’s investments in these entities were written down to nil, and a loss on disposal was recognised in the statement of profit and loss in respect of the carrying value of the investments.

The amounts owed by group undertakings are not subject to any formal agreement, no interest is charged and there is no fixed repayment date.

The balance in other debtors relates to funds held by a third party, for deposits made in advance of acquisitions.

The companies banker Barclays Bank PLC have three fixed and floating charges over the assets of this company and related companies by way of debentures.

The bank loan incurs interest at a rate of 3.25% above the Bank of England base rate, the full amount is due for repayment in March 2027.

The amounts owed to group undertakings are not subject to any formal agreement, no interest is charged and there is no fixed repayment date.

Obligations under hire purchase agreements are secured upon the assets to which they relate.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The deferred tax liability is expected to unwind over the course their useful lives, an unknown amount is expected to reverse in the next period due to future capital expenditure offsetting the unwinding of the deferred tax liability.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. At the year end £21,138 (2025 - £16,457) was due to the scheme.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Subsequent to the year end, the Group completed a number of acquisitions.

On 2 April 2026, the Group acquired 100% of the share capital of Octane Holding Group Limited and its subsidiary Octane Draincare Limited, UK-based providers of fuel infrastructure, drainage and environmental services. The acquisition forms part of the Group’s long-term strategy to strengthen its service offering and expand its national capabilities. It is expected to enhance the breadth and depth of the Group’s environmental and drainage services, strengthen its technical and engineering capabilities, and support increased nationwide coverage.

On 7 May 2026, the Group acquired 80% of the share capital of Petro Systems Limited, an Ireland-based provider of fuel systems and related infrastructure services. The acquisition reflects the Group’s strategy to strengthen its existing operations by incorporating an established business with a strong reputation and experienced workforce. It is expected to support the continued delivery of reliable, high-quality services while maintaining continuity of operations and building on the capabilities already in place.

On 8 May 2026, the Group acquired 100% of the share capital of Environmental Construction Services Ltd, a UK-based provider of environmental and construction services. The acquisition reflects the Group’s strategy to strengthen its existing operations by incorporating an established business with a strong reputation and experienced workforce. It is expected to support the continued delivery of reliable, high-quality services while maintaining continuity of operations and building on the capabilities already in place.

The acquisitions are expected to complement the Group’s existing operations and support its continued growth.

Deposits made in advance of these acquisitions totalled £5,000,000, to assist in the total consideration for the above entities of £10,285,000.

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

These financial statements are consolidated into the financial statements of LCM Environmental Services Holdings Limited, a company incorporated in England and Wales, this being the smallest and largest accounts consolidated into. The parent company's accounts can be obtained from their registered office: The Oil Depot, Wyre Street, Padiham, Lancashire, England, BB12 8DF.

The ultimate controlling shareholders are C Bingham and H Bingham.