REGISTERED NUMBER: 00983459 (England and Wales)

Jones Bros. Ruthin (Civil Engineering)

Co. Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Strategic Report

2

Report of the Directors

9

Report of the Independent Auditors

11

Statement of Comprehensive Income

14

Balance Sheet

15

Statement of Changes in Equity

16

Cash Flow Statement

17

Notes to the Cash Flow Statement

18

Notes to the Financial Statements

19

DIRECTORS:

Mr H G Jones

Mrs C A Johnson

Mrs H M L Morgan

Mr E Roberts

Mr G W Thomas

Mr H Lloyd-Davies

Mr G Evans

Mrs C J Griffiths

SECRETARY:

Mrs H M L Morgan

REGISTERED OFFICE:

Ty Glyn

Canol y Dre

Ruthin

Denbighshire

LL15 1QW

REGISTERED NUMBER:

00983459 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

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

REVIEW OF BUSINESS

Jones Bros Ruthin (Civil Engineering) Co Limited and subsidiaries are a family business, founded in the 1950s, with a strong reputation for delivering civil engineering projects. The Group's head office is located in Ruthin, North Wales with offices in Scotland and Cardiff. The Company directly employs a skilled workforce of around 530 staff and operatives. A key part of our success is our technical ability, problem solving and collaborative approach with clients and businesses. With extensive in-house resources, a modern heavy plant fleet, a highly skilled workforce, and more than 60 apprentices and trainees, the Group provides clients with the confidence that projects will be delivered safely, efficiently, and to the highest standards

MARKETS

The Company operates in the following key sectors:

- Energy and Renewables

- Reservoir construction

- Highways, Rail and Infrastructure

- Coastal Defence and Marine Infrastructure

- Waste Management Facilities & Landfill Engineering

- In House Surfacing & Stabilising Works

Support Services:

- Plant Hire

- Training Department

BUSINESS REVIEW

The Company has achieved a record turnover, exceeding £200m, for the first time in the Group's history, driven by strong activity across a broad range of projects in the UK.

This year has seen significant construction activities at the Havant Thicket Reservoir, with ground improvement works to form the foundations. This work is through a joint venture, Future Water MJJV Limited with J T Macklay & Co Ltd, a subsidiary of Van Oord Group. This flagship project is a design and construction contract to deliver a new reservoir inclusive of earthworks, rip rap, temporary site drainage and access roads. Once completed, the reservoir will hold approximately 8.7 billion litres of water and the capacity to supply up to 21 million litres of water each day. It will be one mile from east to west, half a mile from north to south, with a new wetland on its northern shore, and is being built on a 160-hectare grassland site.

The Company is a market leader in delivering onshore wind farms. Over 2,300 MW of infrastructure have been constructed or are under construction, with more than 700 turbine foundations built. The Company has continued to deliver onshore connections for offshore wind farms and tidal energy projects.

The Company is delivering the infrastructure work on the Cydnerth Project in Holyhead, which is the expansion of the Morlais tidal energy scheme. The project will increase the gird capacity at Morlais from 18MW to a planned 240MW.

This year has seen the completion of the construction of the North Kyle Wind Farm, a 49-turbine project in East Ayrshire which will have the capacity to power more than 160,000 households. The sustainable solution to transform the former coal mine into a wind farm has provided restoration to the damaged landscape and enables clean renewable energy to be produced.

The Company has progressed in the construction of the Windy Standard III Wind Farm in Dumfries and Galloway, which will have the capacity to power more than 130,000 UK homes annually. The Project will be capable of generating 87.6 megawatts of renewable energy.

Construction is underway on the 44 turbine Sanquhar II Wind Farm which contributes to Scotland's Net Zero targets by producing 308 MW of renewable power, enough to power more than 335,000 households annually.

The Company is also carrying out the construction of the Clashindarroch II Wind Farm which is expected to produce enough electricity to meet the equivalent demand of more than 61,000 households.

The Company has continued to develop our relationship with ACCIONA as part of our joint venture on the Scapa Deep Water Quay in Holm on Orkney for Orkney Islands Council after being awarded a Pre-Construction Services Agreement (PCSA) which was delivered in the year. The scheme is set to be a key renewable energy hub.

The Company delivered the 230MW Battery Energy Storage System (BESS) project at Uskmouth power station. The scheme involved the transformation of a closed coal fire power station and desolate brownfield site into a sustainable energy park as well as regenerating an existing building.

The Company is also carrying out the construction of Afon Wysg 1, a significant 240MWh battery storage project which is part of the Uskmouth Sustainable Energy Park supporting the transition to net zero.

At Thorpe Marsh, the largest BESS in Europe, the Company constructed the earthworks and drainage, delivering more than 500,000m3 of cut / fill earthworks, which required specialist engineering techniques and stringent testing as the project is developed utilising existing pulverised fly ash. Located on a former coal-fired power station site, the project is three times larger than any other BESS project currently in operation or under construction in the UK. The scheme will be capable of exporting more than two million MWh annually. This power is enough to supply around 785,000 homes each year. Battery storage is vital to the UK's energy transition, providing integration of renewables into the grid.

The Company has played a key role on the first Anglo-German energy link, one of the world's largest interconnectors. The NeuConnect project will create the first direct link between the UK and German electricity networks. The Company constructed a 50,000m2 development platform for a 1,400-megawatt converter station as part of the enabling works package.

This year saw the reopening of the B5605 Newbridge Road a key communal link, with a complex design and rebuild of the road following a landslip in 2021. The Company has commenced further active travel schemes, delivering a major active travel route in Newborough, Anglesey.

The Company has a long history of delivering Coastal Defence and Marine Infrastructure across the UK and this year saw the substantial completion of the Kinmel Bay Coastal Defence Scheme. The project will improve flood defences for coastal properties. Works carried out have included raising and widening the rock armour and raising the seawall as well as upgrades to public spaces.

Frameworks are in place with the leading waste management companies and there were many projects including landfill cells and capping which were delivered in the year under these contracts. In addition, the business has considerable experience in planning and carrying out surfacing works with the in-house specialist surfacing division.

Cambrian Services Limited was sold out of the Group at the start of the financial year. It continues to provide specialist concrete production, soil stabilisation, quarrying & aggregate production services to the Group.

FINANCIAL PERFORMANCE

The statement of Comprehensive Income is set out on page 14.

The Company reported turnover of £232.8 million for the year ended 2026 (2025: £150.5 million), with profit before taxation of £9.3 million (2025: £5.9 million).

The Company's financial position continued to strengthen, with net assets increasing by £4.3 million (21.7%) to £24.2 million as at year-end (2025: £19.9 million) including cash balances of £34.2 million (2025: £22.1 million).

The Directors have assessed the Company's financial position and performance and are satisfied that the Company has adequate resources to continue operating for the foreseeable future. The Company has no debt servicing obligations and maintains sufficient cash reserves to meet short-term working capital and investment requirements, with due consideration to the value of its contracts and the timing of associated cash flows. Supported by a strong order book and continued profitability, the Company is expected to remain cash generative over the next twelve months. Accordingly, the financial statements have been prepared on a going concern basis.

The Company's directors consider various key performance indicators on a frequent basis. These include turnover, operating profit, average number of employees and net assets.

2026

2025

Movement

£'000

£'000

%

Turnover

232,830

150,517

+54.6

Operating profit

9,312

5,989

+55.4

Average headcount

527

479

+10.0

Net assets

24,163

19,851

+21.7

RISKS AND UNCERTAINTIES

The directors have identified the following risks and uncertainties affecting the Company.

Market Risk

The Company operates in a highly competitive trading environment and faces risk and challenges as it delivers its projects. Uncertainties in regulatory, political, design, finance and planning environment can lead to delays in the construction programme and additional costs. Strong customer relationships are key to the business. In order to mitigate the various challenges, prequalification information and collaborative discussions of client requirements are important for establishing project requirements and contractual terms and the project delivery teams engage with project stakeholders throughout the delivery of each project. The management team meet regularly to review pipeline, contract risks, future tenders and pricing, and reports to the Board. The Board regularly reviews these as well as the strategic risk register.

The Company works with various industry and regulatory bodies to participate in the strategy and approach to managing compliance risk, best practice and collaborate on the issues and challenges facing the industry. The Company is an active member on several industry bodies including CECA, CBI and Renewables UK and attends and contributes to meetings and consultations.

Skilled Labour Shortage and Resource Planning

The shortage of skilled labour, particularly experienced plant operators, remains a significant risk to the construction and civil engineering industries. A lack of suitably trained people has the potential to affect project delivery, productivity, safety and quality.To address this risk, the Company continues to invest heavily in apprenticeships, trainee programmes and workforce development. More than 60 apprentices and trainees have been recruited during the past three years.

The Company's accredited in-house training centre continues to provide Construction Plant Competence Scheme (CPCS) training, assessment and continuing professional development to our growing plant operative workforce. The Company also focuses on upskilling existing employees so that they can safely and competently operate a wider range of plant and equipment. This improves workforce flexibility, creates opportunities for career progression and strengthens the Company's ability to respond to changing project requirements.

The management team, workforce and HR teams meet regularly and use in house developed software tools to plan and forecast plant and labour resources and the Company has established good relationships with its supply chain.

Health, Safety and Quality Risk

Maintaining high standards in health, safety and quality assurance is vital to the Company's operations. This is managed through an Integrated Business Quality Management System that includes Quality, Environmental and Health and Safety policies, processes and procedures.. A dedicated team also focus on training on our processes, and the Quality Management System is continually audited and improvements made where required. The system is accredited to the following international and UK standards:

-Construction Health and Safety Management System certified to ISO 45001

-Environmental Management System certified to BS EN ISO 14001

-Quality Management System certified to BS EN ISO 9001

-Energy Management System certified to BS EN ISO 50001

The Company was awarded the Royal Society for the Prevention of Accidents (RoSPA) Order of Distinction (18 Consecutive Gold) Award for health and safety performance. The Group's Accident Frequency Rate over a 5-year period is currently 0.76, below the industry standard of 1.0. The Company prioritises the wellbeing and health of its staff, providing support to our dedicated staff and is a continued proud sponsor of Mates in Mind. A team of Mental First Aiders is established in the Company for our permanent and temporary locations.

Environmental Risk and Sustainability

As a civil engineering company with a large modern heavy plant fleet, environmental sustainability is a priority with risks including environmental performance, regulatory changes and carbon emissions. The Group has an established Energy Steering Group which guides its carbon reduction strategy and monitors performance. The Group continually strives to improve its environmental performance through on-going sustainability and carbon reduction initiatives.

The Group is committed to playing an active role in local communities in which it operates. It actively engages with communities including involving local residents in our projects, supporting local schools, fostering future talent, sponsorship and financial support and contributing to the growth of local economies, leaving a positive legacy that benefits current and future generations.

Procurement and financing risk

The Company is exposed to inflation risks, credit exposure, procurement and supply chain risks which can affect cash flow and project viability. The Company monitors and manages inflation risk and, although it could be a significant risk on input costs, generally, fuel price escalation and specific material indexation clauses are built into the terms or negotiated on many of our contracts to ensure this is managed effectively going forward.

The Company finances its operations through cash balances generated from retained earnings and has no external borrowings. Financial performance and cash balances are regularly reviewed at the Board Meetings. Meetings are also held with financial institutions and information is regularly shared.

The Company does not trade in financial instruments or financial derivatives. The Company's exposure to foreign currency risk is not significant. When materials imported are of significant value steps are taken to mitigate foreign exchange risk. The credit worthiness of new customers is assessed at contract tender stage and the Company has a credit insurance policy in place to help mitigate significant losses from debtors defaulting.

The Company has many supply chain partners and seeks to have robust and clear procurement process with sharing of key information on terms and conditions, standards required and contractual terms. A decentralised procurement process allows increased direct engagement with the project teams and supply chain.

Changing technology

The Company's integrated quality, environmental, health and safety, energy, document, business and commercial management systems are well established and continue to be enhanced to meet changing business needs, client requirements and regulatory obligations. The Company continues to explore the responsible use of artificial intelligence and other emerging technologies. Any new technology is subject to appropriate review, governance, data protection and information security controls before it is introduced.

Significant investment has been made in a modern plant fleet incorporating the latest safety, fuel-efficiency, machine-control and operational technologies. The Company also continues to develop its mobile and digital working capabilities across its projects to enable project teams and clients to access information, collaborate effectively, and work securely in remote environments.

SECTION 172(1) STATEMENT

The Directors confirm that they are compliant with Section 172 of the Companies Act 2006, that is, duty to promote the success of the Company for the benefit of all members as a whole. In doing so the Directors have regard, amongst other matters, for the following:

i)

The likely consequences of decision making in the long term

ii)

The need to foster relationships with suppliers, customers and others

iii)

The impact of company operations on the community and the environment

iv)

Engagement with and regard to the interests of employees (impact of decision making)

v)

Reputation for high standards of business conduct

vi)

Acting fairly between members of the Company

The Board has actively undertaken measures to advance and uphold the Company's strategic objectives. Regular Board meetings are convened with Company Directors and the Business Owner, structured around a defined agenda that prioritises the long-term success of the Company. These meetings are supported by comprehensive Board papers, ensuring informed decision-making and alignment with objectives.

KEY STAKEHOLDER ENGAGEMENT

In addition to the stakeholders identified explicitly in S172(1) the Company also consider the following as key to the business:

i.

Subcontractors and agency supply chain providers

ii.

Local communities, both in North Wales where the company is head quartered and communities across the UK where its projects are based

iii.

Government & regulatory bodies particularly relevant to the Company's operations including environmental regulatory bodies (NRW, SEPA, EA), health & safety (Health & Safety Executive) and taxation (HM Revenue & Customs)

iv.

The industry as a whole

v.

Financial institutions including banks, performance security providers and insurers

The Group is a family-owned inter-generational business and adopts a long term strategic view that balances commercial success with the interests of a wide range of stakeholders and the delivery of sustainable value over successive generations.

KEY DECISIONS AND STRATEGIES IN THE YEAR

There have been no significant changes to Company strategy and approach during the period, with continued progression with the established plan. The Company has maintained early and open communications with members, employees, clients, suppliers, industry and financial institutions.

EMPLOYMENT POLICY

Employees are fundamental to the success of Jones Bros. The Group continues to invest in staff, plant and technology. During the year the average size of the Company's directly employed workforce increased by 10% to 527 (479 in 2025), with an increase in the use of a short-term skilled workers during the busier summer season, where additional resources were required for specific projects and shorter periods. This approach enables the Company to build a highly skilled, flexible and mobile workforce across all disciplines. Particular emphasis is placed on developing the operative workforce and increasing the number of employees who are competent to operate a range of plant and machinery. This is supported by the Group's accredited in-house training centre, which provides practical training, assessment and continuing professional development.

For more than a decade, the Group successfully delivered an award-winning Level 2 Plant Operations Apprenticeship Programme, which played an important role in developing many members of the current workforce. Following the withdrawal of the Level 2 plant qualification in Wales in 2022, the Group has continued to invest and deliver an alternative plant operative, trainee and development scheme.

The Group continues to work with key stakeholders, professional bodies and representative organisations to support the reintroduction of an appropriate Level 2 Plant Operations apprenticeship pathway in Wales. The Group believes that a practical Level 2 route is essential to attract new entrants into the industry and address the growing shortage of skilled plant operators. The Group's apprenticeship and trainee programmes remain central to its workforce strategy. They have been instrumental in developing internal talent, supporting succession planning and providing sustainable employment opportunities for people entering the construction and civil engineering industries.

The Group has strong staff retention rates, with many employees having worked for Jones Bros for a significant number of years. This length of service reflects the Group's commitment to employee development, training, career progression and the continued professional development of its workforce.

Communication and consultation with employees are fundamental aspects of the Group's operations. Changes to policies, procedures and working practices are communicated through several channels, including face-to-face consultation meetings, email, SMS messages, bulletins, newsletters, Joint Consultation Committee meetings, site visits and daily briefings.

The Group is committed to providing equal opportunities for all existing and prospective employees. It supports the employment, development and advancement of disabled and disadvantaged people. Employees who become disabled during their employment are, wherever reasonably possible, supported through appropriate workplace adjustments, training and equipment to enable them to continue their employment and progress within the Group.

The Directors of the Company extend their gratitude and thanks to all Jones Bros employees for their loyalty, dedication, and hard work. Their commitment, expertise and professionalism has been instrumental in delivering another successful year and has supported the significant growth and development achieved by the Company over the past 12 months. The continued success of Jones Bros is a direct reflection of the contribution, expertise and teamwork of its employees.

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

Using Conversion Factors as detailed below in the government 'Greenhouse Gas Reporting: Conversion Factors 2025' document to calculate our CO2e emissions, we calculate 28,736 tonnes of carbon as our annual output:

Greenhouse Gas Conversion Factors 2025

The GHG Protocol Corporate Standard classifies a company's GHG emissions into three 'scopes'. Scope 1 emissions are direct emissions from owned or controlled sources. Scope 2 emissions are indirect emissions from the generation of purchased energy. Scope 3 is not applicable to Jones Bros. The summary calculations are listed in the table below.

Jones Bros Ruthin Co Limited produce an Annual Energy Review in line with the requirements of the ISO 50001:2018 standard to which we are accredited. The review identifies all required energy sources, evaluates figures for energy consumption and identifies opportunities for efficiencies that can be made through changes to plant, equipment and procedures. The Group has adopted a carbon reduction target of 40% for a 15 year period from our baseline in 2020 up to 2035. In the first 6 years since 2020 the Group has made a cumulative 22.7% reduction in Carbon Energy Performance Indicators.

Jones Bros Carbon Emission Areas 2025/26

- Site Diesel Used by Mobile & Static Plant - 92.7 %

- Fuel Used by Road Vehicles- 7.0%

- Mains Electricity at Company Offices and Sites- 0.3%

Key Energy Efficiency Actions 2025/26

- Energy Steering Group meets regularly to monitor energy usage and develop strategies which are presented to the Board.

- Commissioned and implemented three distinct Fuel Technology Trials to improve efficiency of the fleet

- Purchase of hybrid plant and machinery to reduce fuel consumption on projects

- Weekly plant telemetry data circulated around the business to highlight inefficient operations.

- Deployed solar and Hybrid Generators across the sites.

The total Carbon Output of Jones Bros Ruthin Co Limited equates to 28,736 tonnes of CO2e for the financial year 2025/26. Against Jones Bros annual turnover of £240.46 million this equates to 119.50 tonnes of carbon per £million of turnover for 2025/26. This is one of our EnPI (Energy Performance Indicators) for Jones Bros and shows approximately 0.9% increase from 2024/25's figure of 118.43 tonnes of carbon per £million of turnover.

Scope

Emissions Source

Unit

Total units

Conversion Factor

KG of CO2e

% of Total

1

Mobile and Static Plant - Site Diesel

litres

10,010,345

2.66155

26,643,033.73

92.716

1

Fuel Company Road Vehicles-DERV

litres

722,936

2.51279

1,816,586.35

6.322

1

Fuel - Personal Business Mileage

miles

697,909

0.27000

188,435.43

0.656

1

28,648,055.52

99.693

2

Mains Electricity Consumption (All sites)

kw/h

345,356

0.25560

88,272.99

0.307

2

28,736,328.51

100.000

FUTURE DEVELOPMENTS

In the 2026/27 financial year and looking forward, the Company remains focused on winning civil engineering contracts and strengthening long-term partnerships. These projects will continue to utilise our staff specialist skills and expertise, our model of self delivery where possible and the Group's extensive fleet of large plant.

The Group is committed to maintaining a well-balanced portfolio of work across a wide client base, while continuing to manage risk effectively and capitalise on emerging opportunities. Looking ahead, the Group will continue to invest in plant, people and technology to enhance efficiency, productivity and project delivery. With a strong reputation, experienced workforce and proven track record, the Group is well positioned for continued success and remains committed to delivering value as a trusted partner to its clients and stakeholders.

ON BEHALF OF THE BOARD:

Mr H G Jones - Director

23 October 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of civil engineering.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2026 will be £ 5,000,000 .

DIRECTORS

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

Mr H G Jones

Mrs C A Johnson

Mrs H M L Morgan

Mr E Roberts

Mr G W Thomas

Mr H Lloyd-Davies

Mr G Evans

Mrs C J Griffiths

Other changes in directors holding office are as follows:

Mr J P Dielhof - resigned 30 October 2025

POLITICAL DONATIONS AND EXPENDITURE

During the year, charitable donations totalling £9,541(2025: £22,495) were made.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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

The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr H G Jones - Director

23 October 2026

Opinion

We have audited the financial statements of Jones Bros. Ruthin (Civil Engineering) Co. Limited (the 'company') for the year ended 31 March 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 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 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 nine, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;

- Obtaining an understanding of the internal controls that management have in place to prevent and detect fraud;

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;

- Identifying and testing journal entries, in particular manual or unusual entries;

- Obtaining third party confirmations of all the companies banking arrangements;

- Performing analytical procedures to identify any unusual or unexpected relationships;

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.

The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. 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.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

Jason Matischok (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

23 October 2026

TURNOVER

3

232,830,684

150,516,923

Cost of sales

(216,390,753

)

(137,536,304

)

GROSS PROFIT

16,439,931

12,980,619

Administrative expenses

(7,127,343

)

(6,991,135

)

OPERATING PROFIT and

PROFIT BEFORE TAXATION

9,312,588

5,989,484

Tax on profit

6

-

-

PROFIT FOR THE FINANCIAL YEAR

9,312,588

5,989,484

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

9,312,588

5,989,484

FIXED ASSETS

Intangible assets

8

-

-

Investments

9

1,005

1,005

1,005

1,005

CURRENT ASSETS

Debtors

10

53,343,329

30,889,478

Cash at bank

34,288,015

22,182,444

87,631,344

53,071,922

CREDITORS

Amounts falling due within one year

11

63,468,493

33,221,659

NET CURRENT ASSETS

24,162,851

19,850,263

TOTAL ASSETS LESS CURRENT LIABILITIES

24,163,856

19,851,268

CAPITAL AND RESERVES

Called up share capital

13

32

32

Retained earnings

14

24,163,824

19,851,236

SHAREHOLDERS' FUNDS

24,163,856

19,851,268

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2026 and were signed on its behalf by:

Mr H G Jones - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2024

32

18,861,752

18,861,784

Changes in equity

Dividends

-

(5,000,000

)

(5,000,000

)

Total comprehensive income

-

5,989,484

5,989,484

Balance at 31 March 2025

32

19,851,236

19,851,268

Changes in equity

Dividends

-

(5,000,000

)

(5,000,000

)

Total comprehensive income

-

9,312,588

9,312,588

Balance at 31 March 2026

32

24,163,824

24,163,856

Cash flows from operating activities

Cash generated from operations

1

17,105,571

5,796,932

Tax paid

-

(1,938

)

Net cash from operating activities

17,105,571

5,794,994

Cash flows from financing activities

Equity dividends paid

(5,000,000

)

(5,000,000

)

Net cash from financing activities

(5,000,000

)

(5,000,000

)

Increase in cash and cash equivalents

12,105,571

794,994

Cash and cash equivalents at beginning of year

2

22,182,444

21,387,450

Cash and cash equivalents at end of year

2

34,288,015

22,182,444

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

2026

2025

£

£

Profit before taxation

9,312,588

5,989,484

Amounts owed by group undertakings

(2,140,507

)

6,890,922

7,172,081

12,880,406

Increase in trade and other debtors

(20,313,343

)

(5,219,168

)

Increase/(decrease) in trade and other creditors

30,246,833

(1,864,306

)

Cash generated from operations

17,105,571

5,796,932

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 31 March 2026

31/3/26

1/4/25

£

£

Cash and cash equivalents

34,288,015

22,182,444

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

22,182,444

21,387,450

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/25

Cash flow

At 31/3/26

£

£

£

Net cash

Cash at bank

22,182,444

12,105,571

34,288,015

22,182,444

12,105,571

34,288,015

Total

22,182,444

12,105,571

34,288,015

1.	STATUTORY INFORMATION

Jones Bros. Ruthin (Civil Engineering) Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Critical accounting judgements and key sources of estimation uncertainty

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 estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate are recognised in the period which the estimate is revised where revision affects only that period, or in the period of the revisions and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover, derived from the principal activity, is calculated on the basis of the value of work executed during the period, including retentions.

Intangible assets

Intangible assets relating to computer software are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged over two years from when the asset is brought into use.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 tax

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.

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.

Long-term contracts

Profit on long-term contracts is recognised as the work is carried out if the financial outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related contract costs as contract activity progress.

Contract costs are recognised as the higher of actual cost to date or costs as a proportion of final costs, using the reference of turnover to date as a proportion of final turnover.

Revenue derived from variations on contracts are recognised only when they have been accepted by the customer.

Full provision is made for losses on all contracts in the year in which they are first foreseen.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

Provisions for liabilities

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Employee benefits

Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Joint arrangements

The company undertakes a number of business activities through joint arrangements. Joint arrangements exist when two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

The company's joint arrangements are joint operations.

Joint operations are joint arrangements on which parties with joint control have rights to the assets and obligations for the liabilities relating to the arrangement. The activities of a joint operation are primarily designed for the provision of output to the parties to the arrangement indicating that:

-

The parties have the rights to substantially all the economic benefits of the assets of the arrangement;

-

All liabilities are satisfied by the joint participants through their purchases of that output. This indicates, in substance, the joint participants have an obligation for the liabilities of the arrangement.

3.

TURNOVER

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

All turnover arose within the United Kingdom.