REGISTERED NUMBER: SC166057 (Scotland)

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 30 June 2026

for

Algo (Blairgowrie) Limited

Page

Strategic Report

1

Report of the Directors

2

Report of the Independent Auditors

3

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

12

The directors present their strategic report for the year ended 30 June 2026.

REVIEW OF BUSINESS

Algo (Blairgowrie) Limited is a long-established Scottish construction company delivering high-quality projects across the agricultural, commercial and private sectors. The company has developed a strong reputation for technical expertise, quality workmanship and long-term client relationships, supported by an experienced management team and skilled workforce.

The directors are pleased to report another strong year of trading for the year ended 30 June 2026. Turnover and other operating income increased to £39.4 million (2025: £36.2 million), while profit before tax remained robust at £1.3 million (2025: £1.6 million). This performance reflects the company's disciplined approach to project delivery, cost control and continued focus on its core markets.

Despite ongoing economic uncertainty, inflationary pressures and a competitive trading environment, the company has continued to perform well. The directors believe these results demonstrate the resilience of the business, the strength of its client relationships and its ability to deliver projects efficiently while maintaining sustainable margins.

The company's financial position remains strong, with net assets increasing from £5.0 million at 30 June 2025 to £5.9 million at 30 June 2026. The balance sheet provides a solid platform to support future investment, manage risk and capitalise on opportunities as they arise.

The directors continue to monitor market conditions, operational performance and financial results to ensure the business remains well positioned for sustainable long-term growth. Investment in people, plant & machinery and operational efficiency remains a key priority as the company seeks to enhance its competitive position and deliver continued value to clients.

The company benefits from a loyal and diverse customer base across the agricultural, commercial and private sectors. Supported by a healthy pipeline of work and a strong order book, the directors remain confident in the company's prospects and expect it to continue delivering profitable and sustainable growth in the years ahead.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties affecting the company are those associated with all construction/building sectors and include:

1. The general and political climate in Scotland.

2. The competitive nature of our industry.

3. The increase in the regulatory environment including health & safety, planning and utilities.

4. The increased level of contracting opportunities which could result in a skills shortage.

5. The impact of increasing costs on the margin achievable on contracts already in place.

ON BEHALF OF THE BOARD:

Mr C M Alexander - Director

21 October 2026

The directors present their report with the financial statements of the company for the year ended 30 June 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of design and construction of industrial and agricultural buildings.

DIVIDENDS

The total distribution of dividends for the year ended 30 June 2026 will be £180,000.

DIRECTORS

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

Mr P Alexander

Mrs C P Alexander

Mr C M Alexander

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

Drummond Laurie CA are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

Mr C M Alexander - Director

21 October 2026

Opinion

We have audited the financial statements of Algo (Blairgowrie) Limited (the 'company') for the year ended 30 June 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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.

Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to fraudulent manipulation of the financial statements, including the risk of override of controls, to reduce profits and tax liabilities. We determined that the most likely method of manipulation would be the posting of inappropriate journal entries. Audit procedures performed by the audit engagement team consisted of a review of large and unusual journal entries, challenging assumptions and judgements made by management in significant accounting estimates, discussions with management related to known or suspected instances of non-compliance with laws and regulations, review of Board minutes where available, and an evaluation of management controls designed to prevent and detect irregularities.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

Greig Brown (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

Statutory Auditor

Unit 5

Gateway Business Park

Beancross Road

Grangemouth

FK3 8WX

22 October 2026

TURNOVER

3

39,426,833

36,244,741

Cost of sales

(35,500,615

)

(32,359,829

)

GROSS PROFIT

3,926,218

3,884,912

Administrative expenses

(2,499,151

)

(2,232,768

)

1,427,067

1,652,144

Other operating income

25,963

19,491

OPERATING PROFIT

5

1,453,030

1,671,635

Interest receivable and similar income

12,726

-

1,465,756

1,671,635

Interest payable and similar expenses

6

(118,902

)

(109,343

)

PROFIT BEFORE TAXATION

1,346,854

1,562,292

Tax on profit

7

(343,699

)

(395,835

)

PROFIT FOR THE FINANCIAL YEAR

1,003,155

1,166,457

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,003,155

1,166,457

FIXED ASSETS

Tangible assets

9

1,469,898

1,247,426

Investment property

10

360,000

-

1,829,898

1,247,426

CURRENT ASSETS

Stocks

11

1,820,642

1,545,194

Debtors

12

10,041,796

9,653,986

Cash at bank and in hand

2,111,906

2,320,615

13,974,344

13,519,795

CREDITORS

Amounts falling due within one year

13

(8,693,021

)

(8,533,878

)

NET CURRENT ASSETS

5,281,323

4,985,917

TOTAL ASSETS LESS CURRENT LIABILITIES

7,111,221

6,233,343

CREDITORS

Amounts falling due after more than one year

14

(943,198

)

(923,926

)

PROVISIONS FOR LIABILITIES

18

(299,775

)

(264,324

)

NET ASSETS

5,868,248

5,045,093

CAPITAL AND RESERVES

Called up share capital

19

2

2

Retained earnings

20

5,868,246

5,045,091

SHAREHOLDERS' FUNDS

5,868,248

5,045,093

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2026 and were signed on its behalf by:

Mr C M Alexander - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2024

2

4,058,634

4,058,636

Changes in equity

Dividends

-

(180,000

)

(180,000

)

Total comprehensive income

-

1,166,457

1,166,457

Balance at 30 June 2025

2

5,045,091

5,045,093

Changes in equity

Dividends

-

(180,000

)

(180,000

)

Total comprehensive income

-

1,003,155

1,003,155

Balance at 30 June 2026

2

5,868,246

5,868,248

Cash flows from operating activities

Cash generated from operations

1

458,364

2,341,506

Interest paid

(69,251

)

(60,649

)

Interest element of hire purchase payments paid

(49,651

)

(48,694

)

Tax paid

(239,306

)

(10,709

)

Net cash from operating activities

100,156

2,221,454

Cash flows from investing activities

Purchase of tangible fixed assets

(100,795

)

(55,745

)

Sale of tangible fixed assets

248,090

53,772

Interest received

12,726

-

Net cash from investing activities

160,021

(1,973

)

Cash flows from financing activities

New loans in year

352,650

-

Loan repayments in year

(48,729

)

(43,866

)

Capital repayments in year

(709,913

)

(534,061

)

Amount introduced by directors

117,106

-

Amount withdrawn by directors

-

(114,118

)

Equity dividends paid

(180,000

)

(180,000

)

Net cash from financing activities

(468,886

)

(872,045

)

(Decrease)/increase in cash and cash equivalents

(208,709

)

1,347,436

Cash and cash equivalents at beginning of year

2

2,320,615

973,179

Cash and cash equivalents at end of year

2

2,111,906

2,320,615

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.6.26

30.6.25

£

£

Profit before taxation

1,346,854

1,562,292

Depreciation charges

443,320

420,420

(Profit)/loss on disposal of fixed assets

(51,712

)

4,348

Finance costs

118,902

109,343

Finance income

(12,726

)

-

1,844,638

2,096,403

Increase in stocks

(635,448

)

(10,625

)

(Increase)/decrease in trade and other debtors

(504,916

)

970,750

Decrease in trade and other creditors

(245,910

)

(715,022

)

Cash generated from operations

458,364

2,341,506

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2026

30.6.26

1.7.25

£

£

Cash and cash equivalents

2,111,906

2,320,615

Year ended 30 June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

2,320,615

973,179

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Other

non-cash

At 1.7.25

Cash flow

changes

At 30.6.26

£

£

£

£

Net cash

Cash at bank

and in hand

2,320,615

(208,709

)

2,111,906

2,320,615

(208,709

)

2,111,906

Debt

Finance leases

(636,545

)

709,913

(761,375

)

(688,007

)

Debts falling due

within 1 year

(49,984

)

(354,439

)

-

(404,423

)

Debts falling due

after 1 year

(729,487

)

50,518

-

(678,969

)

(1,416,016

)

405,992

(761,375

)

(1,771,399

)

Total

904,599

197,283

(761,375

)

340,507

1.	STATUTORY INFORMATION

Algo (Blairgowrie) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC166057. The registered office is Algo Business Centre, Glenearn Road, Perth, PH2 0NJ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

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 a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below.

1. Useful lives of depreciable assets (Property, Plant and Equipment)

Management reviews the useful lives and residual values of depreciable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technological obsolescence and changes in usage, which could impact future depreciation charges.

2. Impairment of trade receivables

The company estimates the provision for expected credit losses (or impairment) of trade receivables. This requires assumptions regarding the likelihood of collection and the credit risk profile of customers based on past experience and forward-looking economic factors.

3. Inventory valuation and provisions

Management reviews the net realisable value (NRV) of inventory to assess potential impairment. Estimates are applied when determining the selling price less costs to sell, and judgements are required regarding obsolescence, physical damage, and shifting consumer demand.

4. Construction contracts

The company estimates the outcome of its construction contracts. This is normally measured by total costs incurred to date plus expected markup for that contract. Estimated markups are based on management's detailed budgets and projections.

Where management judge that the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable.

Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Turnover

Turnover represents net invoiced sales of goods and services in respect of construction, excluding value added tax.

Turnover comprises the fair value of construction carried out in the year, based on an internal assessment of work carried out. Once the outcome of a construction contract can be estimated reliably, profit is recognised on a stage of contract completion basis by reference to either costs incurred to date and total forecast costs on the contract as a whole, or certified value.

Losses expected in bringing a contract to completion are recognised immediately as soon as they are forecast. Where the outcome of variations is uncertain, the company only recognises turnover and associated profit where it is probable that the client will approve the variation. Where the outcome of claims is uncertain, the company only recognises turnover when negotiations have reached an advanced stage such that it is probable that the customer will accept the claim.

Amounts due from construction contract customers which are included within debtors, represent turnover less progress payments received. Where progress payments exceed turnover and other contract balances, the excess is shown as amounts due to construction contract customers within current liabilities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Long leasehold

-

15% on reducing balance and 4% on cost

Plant and machinery

-

33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Motor vehicles

-

33% on reducing balance and 25% on reducing balance

Computer equipment

-

33% on reducing balance and 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

Investment in finance leases are included in current assets and amortised on a straight line basis over the lease term. Rentals receivable under operating leases are credited to income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Contributions have been made by the company for certain employees into their respective personal pension plans. Contributions paid into the individual pension plans are charged to the profit and loss account as incurred.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand and highly liquid interest-bearing securities with maturities of three months or less. In the cash-flow statement, cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the balance sheet.

Going concern

The directors of the company have reviewed the results for the year ended 30th June 2026, the subsequent post year end trading period as well as the detailed company forecasts and projections beyond a period of 12 months from the balance sheet signing date which indicate the company will be profitable and cash generative. The company has a large current order book and continues to attract and win viable projects at sustainable gross margins. Therefore, it is the directors' belief that the company should prepare financial statements on a going concern basis.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets

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.

If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses. Amortised interest is recognised as Interest income within the Income Statement.

Where loans are provided interest-free or below market rate, the market value on initial recognition is required to be estimated by discounting the loan amount to the present value of future payments using an equivalent rate of a similar instrument.

Financial liabilities

Short term trade 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.

If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value. The amortisation of financial liabilities is recognised as an Interest expense within the Income Statement.

Where loans are provided interest-free or below market rate, the market value on initial recognition is required to be estimated by discounting the loan amount to the present value of future payments using an equivalent rate of a similar instrument.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

30.6.26

30.6.25

£

£

United Kingdom

39,426,833

36,244,741

39,426,833

36,244,741

4.	EMPLOYEES AND DIRECTORS

30.6.26

30.6.25

£

£

Wages and salaries

4,278,528

4,265,534

Social security costs

528,975

463,667

Other pension costs

178,534

132,912

4,986,037

4,862,113

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

30.6.26

30.6.25

Construction and administration

101

99

30.6.26

30.6.25

£

£

Directors' remuneration

28,959

12,266

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.6.26

30.6.25

£

£

Hire of plant and machinery

1,185,417

1,068,568

Depreciation - owned assets

144,106

154,278

Depreciation - assets on hire purchase contracts

299,214

266,142

(Profit)/loss on disposal of fixed assets

(51,712

)

4,348

Auditors' remuneration

13,650

13,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.6.26

30.6.25

£

£

Bank interest

69,251

60,649

Hire purchase

49,651

48,694

118,902

109,343

7.

TAXATION

Analysis of the tax charge

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

30.6.26

30.6.25

£

£

Current tax:

UK corporation tax

308,248

792

Deferred tax

35,451

395,043

Tax on profit

343,699

395,835

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.26

30.6.25

£

£

Profit before tax

1,346,854

1,562,292

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 19%)

336,714

296,835

Effects of:

Expenses not deductible for tax purposes

6,398

4,524

Income not taxable for tax purposes

(12,928

)

-

Capital allowances in excess of depreciation

(21,936

)

(4,821

)

Utilisation of tax losses

-

(295,746

)

Deferred taxation

35,451

395,043

Total tax charge

343,699

395,835

8.

DIVIDENDS

30.6.26

30.6.25

£

£

Ordinary shares of £1 each

Final

180,000

180,000

9.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 July 2025

-

144,246

3,585,285

Additions

-

-

151,601

Disposals

-

-

(97,500

)

Reclassification/transfer

144,246

(144,246

)

-

At 30 June 2026

144,246

-

3,639,386

DEPRECIATION

At 1 July 2025

-

137,038

2,832,300

Charge for year

-

2,345

220,750

Eliminated on disposal

-

-

(70,716

)

Reclassification/transfer

139,383

(139,383

)

-

At 30 June 2026

139,383

-

2,982,334

NET BOOK VALUE

At 30 June 2026

4,863

-

657,052

At 30 June 2025

-

7,208

752,985