ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: SC241155

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

COMPANY INFORMATION

Directors	W S Henderson
	M J Horner


Registered number	SC241155


Registered office	Cornerstone
	60 South Gyle Crescent
	Edinburgh
	EH12 9EB


Independent auditor	MHA
	6 St Colme Street
	Edinburgh
	EH3 6AD

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

CONTENTS

	Page
Strategic Report	1
Directors' Report	2 - 3
Independent Auditor's Report	4 - 7
Profit and Loss Account	8
Balance Sheet	9 - 10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Analysis of Net Debt	13
Notes to the Financial Statements	14 - 29

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

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

Fair review of the business

The Directors report a profit before tax for the year of £593,183 which they consider to be a satisfactory result considering the competition and downturn in the Construction Sector, allied to ongoing global economic conditions.

During the year there was a consequent increase in net assets of £375,700.

The Directors continue to review business operations to ensure that operational costs match future revenues.

Given the nature of the business, the Directors are of the opinion that analysis using key performance indicators is not necessary for an understanding of the development, performance and position of the business.

Principal risks and uncertainties

The company is continuing with its strategy of diversifying into different markets to maintain its resilience to current unpredictable market conditions.

The Directors monitor risk to assist in the development and improvement of its systems and operations. This will ensure that the Company continues to meet its contractual commitments, improve health and safety standards and deliver increasing levels of service to its clients.

Appropriate and prudent provisions in respect of the potential impairment of trade debtors and unbilled amounts due on contracts are applied.

Development and performance

The Directors' main objective is to develop the business by offering services to a wide range of clients in existing
and different market sectors.

The Directors are confident that their strategy will continue to deliver profit and generate the required cash flow to finance its future operations.

This report was approved by the board on 23 October 2026 and signed on its behalf.

M J Horner

Director

Page 1

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

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

Principal activity

The principal activity of the company continued to be that of civil, structured, mechanical and electrical engineering consultancy and the provision of services to clients on all aspects and types of construction work.

Results and dividends

The profit for the year, after taxation, amounted to £423,880 (2025 - £585,954).

The directors do not recommend payment of a dividend.

Directors

The directors who served during the year were:

W S Henderson

M J Horner

Auditor

The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and 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 for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

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

The 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Disclosure of information to auditor

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

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Medium-sized companies exemption

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

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

M J Horner

Director

Date: 23 October 2026

Page 3

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

Opinion

We have audited the financial statements of Blyth & Blyth Consulting Engineers Limited (the 'Company') for the year ended 31 January 2026, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flow, the Analysis of Net Debt and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 January 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 United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Page 4

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLYTH & BLYTH CONSULTING ENGINEERS LIMITED (CONTINUED)

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.

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic Report and the 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.

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 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.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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.

Page 5

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLYTH & BLYTH CONSULTING ENGINEERS LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

∙Enquiry of management and those charged with governance around actual and potential litigation and
claims;

∙Performing audit work over the risk of management override of controls, including testing of journal entries
and other adjustments for appropriateness, evaluating the business rationale of significant transactions
outside the normal course of business and reviewing accounting estimates for bias;

∙Reviewing minutes of meetings of those charged with governance;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations

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

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

Page 6

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLYTH & BLYTH CONSULTING ENGINEERS LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.

Iain Binnie (Senior Statutory Auditor)

for and behalf of MHA, Statory Auditor

Edinburgh, United Kingdom

23 October 2026

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)

Page 7

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2026

	2026	2025
Note	£	£


Turnover	4	14,902,901	13,165,451
Cost of sales		(11,699,842)	(9,419,178)
Gross profit		3,203,059	3,746,273
Administrative expenses		(2,683,900)	(2,914,395)
Administrative expenses - share option charge		48,180	(68,715)
Operating profit	5	567,339	763,163
Interest receivable and similar income	8	31,744	41,432
Interest payable and similar expenses	9	(5,900)	(9,388)
Profit before tax		593,183	795,207
Tax on profit	10	(169,303)	(209,253)
Profit for the financial year		423,880	585,954

The notes on pages 14 to 29 form part of these financial statements.

Page 8

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

REGISTERED NUMBER: SC241155

BALANCE SHEET

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	11		78,547		185,345
			78,547		185,345
Current assets
Debtors: amounts falling due within one year	12	8,973,098		8,435,121
Cash at bank and in hand	13	1,985,612		3,277,635
		10,958,710		11,712,756
Creditors: amounts falling due within one year	14	(5,791,204)		(7,048,827)
Net current assets			5,167,506		4,663,929
Total assets less current liabilities			5,246,053		4,849,274
Creditors: amounts falling due after more than one year	15		-		(103,921)
Provisions for liabilities
Other provisions	19	(125,000)		-
			(125,000)		-
Net assets			5,121,053		4,745,353

Capital and reserves
Called up share capital	21	114,446	114,446
Capital redemption reserve		85,554	85,554
Equity share option reserve	23	181,900	279,330
Employee Benefit Trust reserve	23	(78,637)	(78,637)
Profit and loss account		4,817,790	4,344,660
		5,121,053	4,745,353

The Company has taken advantage of the exemptions available to medium-sized companies under the Companies Act 2006 in respect of the disclosure of certain information in the notes to the financial statements.

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

M J Horner

Director

Date: 23 October 2026

The notes on pages 14 to 29 form part of these financial statements.

Page 9

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

REGISTERED NUMBER: SC241155

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2026

Page 10


		BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2026

	Called up share capital	Capital redemption reserve	Equity share option reserve	Employee Benefit Trust reserves	Profit and loss account	Total equity
	£	£	£	£	£	£
At 1 February 2024	114,446	85,554	210,615	(177,937)	3,758,706	3,991,384

Profit for the year	-	-	-	-	585,954	585,954
Fair value adjustments	-	-	-	-	-	-
Employee benefit trust reserve movement	-	-	-	99,300	-	99,300
Equity share option reserve movement	-	-	68,715	-	-	68,715
Purchase of own shares	-	-	-	-	-	-

At 1 February 2025	114,446	85,554	279,330	(78,637)	4,344,660	4,745,353

Profit for the year	-	-	-	-	423,880	423,880
Share option reserve release	-	-	(49,250)	-	49,250	-
Equity share option reserve movement	-	-	(48,180)	-	-	(48,180)
At 31 January 2026	114,446	85,554	181,900	(78,637)	4,817,790	5,121,053

The notes on pages 14 to 29 form part of these financial statements.

Page 11

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit for the financial year	423,880	585,954
Adjustments for:
Depreciation of tangible assets	109,661	123,583
Interest paid	(5,900)	(9,388)
Interest received	(31,744)	(41,432)
Taxation charge	169,303	209,253
Increase in debtors	(531,279)	(921,053)
(Decrease)/increase in creditors	(1,048,448)	839,607
Equity settled shared based payment expense	(48,180)	68,715
Corporation tax paid	(194,096)	(193,098)
Net cash generated from operating activities	(1,156,803)	662,141

Cash flows from investing activities
Purchase of tangible fixed assets	(2,863)	(2,231)
Interest received	31,744	41,432
Finance costs	5,900	9,388
Net cash generated from investing activities	34,781	48,589
Cash flows from financing activities
Decrease in employee benefit trust loan	-	99,300
Repayment of loans	(70,000)	(70,000)
Repayment of finance leases	(100,001)	(84,607)
Net cash used in financing activities	(170,001)	(55,307)
Net (decrease)/increase in cash and cash equivalents	(1,292,023)	655,423
Cash and cash equivalents at beginning of year	3,277,635	2,622,212
Cash and cash equivalents at the end of year	1,985,612	3,277,635

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,985,612	3,277,635
	1,985,612	3,277,635

The notes on pages 14 to 29 form part of these financial statements.

Page 12

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 JANUARY 2026


At 1 February 2025	Cash flows	At 31 January 2026
£	£	£

Cash at bank and in hand	3,277,635	(1,292,023)	1,985,612
Loans	(116,667)	70,000	(46,667)
Finance leases	(149,808)	100,001	(49,807)
	3,011,160	(1,122,022)	1,889,138

The notes on pages 14 to 29 form part of these financial statements.

Page 13

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	General information

Blyth & Blyth Consulting Engineers Limited is a private company limited by shares incorporated in Scotland. The registered office is Cornerstone, 60 South Gyle Crescent, Edinburgh, EH12 9EB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The 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 on the historical cost convention. The principal accounting policies adopted are set out below.

2.2

Going concern

At the time of approving the financial statements, the directors are confident 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.

2.3

Tangible fixed assets

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

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements	-	Term of the lease
Office Equipment	-	25 - 100% per annum
Fixtures and Fittings	-	20% per annum
Computer equipment	-	33% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Impairment of fixed asset

The carrying value of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Page 14

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.5

Contract accounting

The profit on contracts is taken as the work is carried out if the final 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 period end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Full provision is made for losses on all contracts in the period in which they are foreseen.

2.6

Financial assets

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Debtors
Debtors with no stated interest rate or receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

2.7

Financial liabilities

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

All interest bearing loan and borrowing which are basic financial instruments are initially recorded at the present value of cash payables. After initial recognition they are measured at amortised cost.

2.8

Equity Instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Page 15

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.9

Taxation

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

Current 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 excluded items of income or expenses 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
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.

A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against which to recover carried forward tax losses and from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The company operates a defined contribution pension scheme. The pension costs charged to the financial statements represents the contribution payable by the company during the year in accordance with FRS 102 (section 28).

Page 16

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.11

Share-based payments

The company grants equity-settled share based payments to certain employees and directors through the issuing of share options.

Equity-settled share-based payments are measured using the Black Scholes model which is considered to be the most appropriate pricing model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellation or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

2.12

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. 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 the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental 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 benefit from the leased assets are consumed.

2.13

Employee share ownership plan

The company established on 10 November 2004 the Blyth & Blyth Consulting Engineers Limited Employee Benefit Trust (EBT) for the purpose of encouraging or facilitating the holding of shares or debentures in the company by or for the benefit of employees of the company.

The company sponsors and controls the Employee Benefit Trust (EBT). All the assets and liabilities of the EBT are accounted for in accordance with FRS 102 (section 9).

Page 17

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make adjustments, 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 estimates 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.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Recoverability of trade debtors
Recoverability of trade debtors are evaluated and provision for doubtful debts are made where appropriate. Provisions are based on experience, the age of debt, customer relations and payment history. The actual level of debt collected may differ from the estimated level of recovery and can therefore impact future operating results.

Valuations of amounts due from contract customer
The directors assess the stage of completion of each contract to reflect the proportion of work carried out and turnover and profit on each contract is accounted for as contract activity progresses. Provision is made in full for any contracts which are estimated to result in a loss, as soon as the loss is forecast. Stage of completion and contract progress is measured based on experience. The actual stage of completion may differ from the estimated stage of completion.

Turnover

					2026	2025
					£	£

	Total turnover	14,902,901	13,165,451

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	14,902,901	13,165,451
	14,902,901	13,165,451

Page 18

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Fees payable to the company's auditor for the audit of the company's financial statements	23,100	21,000
Depreciation of tangible fixed assets	109,661	123,583
Operating lease charges	206,468	239,156
Share-based payment	(48,180)	68,715

Wages and salaries	4,603,854	4,986,090
Social security costs	611,489	603,380
Pension costs	872,410	945,699
	6,087,753	6,535,169

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

	2026	2025
	No.	No.

Office and administration	12	10
Other	74	83

	86	93

In addition, the company engaged the services of, on average, 4 (2025 - 6) contract staff members during the year.

Remuneration of key management personnel

The remuneration of key management personnel, which also includes directors, £1,924,948 (2025 - £2,388,199)

Page 19

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

7.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	217,821	234,262
Company contributions to defined contribution pension schemes	43,309	47,767
	261,130	282,029

	During the year retirement benefits were accruing to 1 director (2025 - 1) in respect of defined contribution pension schemes. The number of directors who were entitled to receive shares under long term incentive schemes during the year was 1 (2025 - 1).
	The highest paid director received remuneration of £174,344 (2025 - £202,859).
	The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £43,309 (2025 - £47,767).

8.	Interest receivable
		2026	2025
		£	£

Other interest income	-	1,031
Interest on bank deposits	31,744	40,401
	31,744	41,432

9.	Interest payable and similar expenses
		2026	2025
		£	£

	Interest on bank overdrafts and loans	5,900	9,388
		5,900	9,388

Page 20

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Corporation tax
Current tax on profits for the year	158,706	176,918
Adjustments in respect of previous periods	17,265	(86)

Total current tax	175,971	176,832

Deferred tax
Origination and reversal of timing differences	(6,668)	32,421
Total deferred tax	(6,668)	32,421


	Tax on profit	169,303	209,253

Profit on ordinary activities before tax

593,183

795,207

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	148,296	198,802
Effects of:
Tax effect of expenses that are not deductible in determining taxable profit	17,589	7,869
Adjustments in respect of prior periods	17,265	(86)
Share based payment charge	(12,045)	(36,974)
Depreciation in excess of capital allowances	(1,802)	7,221
Other timing differences	-	32,421
Total tax charge for the year	169,303	209,253

Page 21

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.	Tangible fixed assets

	Leasehold improvements	Fixtures and fittings	Office and computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 February 2025	340,188	119,143	603,736	1,063,067
Additions	-	1,635	1,228	2,863
At 31 January 2026	340,188	120,778	604,964	1,065,930
Depreciation
At 1 February 2025	309,192	117,443	451,087	877,722
Charge for the year on owned assets	22,653	1,214	85,794	109,661
At 31 January 2026	331,845	118,657	536,881	987,383
Net book value
At 31 January 2026	8,343	2,121	68,083	78,547
At 31 January 2025	30,996	1,700	152,649	185,345

Page 22

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.Tangible fixed assets (continued)

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases.
	2026	2025
	£	£


Office Equipment	69,688	151,144
	69,688	151,144

The depreciation charge in respect of such assets amounted to £85,020 (2025- £93,925) the year.

12.

Debtors

					2026	2025
					£	£


Trade debtors	4,018,658	1,973,110
Amounts recoverable on long-term contracts	4,193,933	5,860,993
Other debtors	139,570	188,609
Prepayments and accrued income	614,077	412,217
Deferred taxation (note 18)	6,860	192
	8,973,098	8,435,121

13.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	1,985,612	3,277,635
	1,985,612	3,277,635

Page 23

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

14.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans (note 16)	46,667	70,000
Obligation under finance lease (note 17)	49,807	92,554
Payments received on account	2,046,428	2,318,256
Trade creditors	1,156,436	1,707,275
Corporation tax	158,792	176,918
Other taxation and social security	345,841	552,629
Accruals and deferred income	1,987,233	2,131,195
	5,791,204	7,048,827

15.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans (note 16)	-	46,667
Obligations under finance leases (note 17)	-	57,254
	-	103,921

Page 24

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Amounts falling due within one year
Bank loans	46,667	70,000
	46,667	70,000
Amounts falling due 1-2 years
Bank loans	-	46,667
	-	46,667


	46,667	116,667

Bank loans above represent an unsecured bank loan from Bank of Scotland plc obtained through the Coronavirus Business Interruption Loan Scheme and was drawn down on 28 September 2020. The loan is repayable over six years with no repayments required in the first year, and carries interest at base rate plus 2.1% per annum. The first year of interest payments were covered by a government grant.

Bank of Scotland plc hold a bond and floating charge over the whole assets of the company together with a cross corporate guarantee with the company and a third party.

Within one year	49,807	92,554
Between 1-5 years	-	57,254
	49,807	149,808

Finance lease obligations are secured against the tangible fixed assets to which they relate.

Page 25

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

18.	Deferred taxation

		2026
		£

	At beginning of year	192
	Charged to profit or loss	6,668
	At end of year	6,860

The deferred tax asset is made up as follows:
	2026	2025
	£	£

Accelerated capital allowances	(1,361)	(8,224)
Other timing differences	8,221	8,416
	6,860	192

19.	Provisions for liabilities

		Other
		£

	Other movements	125,000
	At 31 January 2026	125,000

Other provisions represent claims made against contracts in excess of amount covered by professional indemnity insurance.

20.	Retirement benefit schemes

The charge to profit or loss in respect of defined contribution schemes is £872,410 (2025: £945,699).

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. The unpaid contributions outstanding at the period end, and included in creditors, amounted to £66,187 (2025: £62,971).

Page 26

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

21.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

99,446 (2025 - 99,446) Ordinary shares of £1.00 each	99,446	99,446
15,000 (2025 - 15,000) 'A' Ordinary shares of £1.00 each	15,000	15,000

	114,446	114,446

The company has previously granted options to certain employees to subscribe for A ordinary shares. Options in place are as follows:

Options to allow certain employees to purchase 15,000 A ordinary shares at an exercise price of £10.29.
These options have a 10 year exercise period and expire on 4 March 2030. The exercise of these options is conditional upon the employees achieving satisfactory performance within the company. The options must be exercised within a prescribed period of meeting these conditions.

Options to allow certain employees to purchase 5,000 A ordinary shares at an exercise price of £20.80. These options have a 10 year exercise period and expire on 6 December 2032. The exercise of these options is conditional upon the employees achieving satisfactory performance within the company. The options must be exercised within a prescribed period of meeting these conditions.

Options to allow certain employees to purchase 5,000 A ordinary shares at an exercise price of £20.80. These options have a 10 year exercise period and expire on 13 February 2033. The exercise of these options is conditional upon the employees achieving satisfactory performance within the company. The options must be exercised within a prescribed period of meeting these conditions.

As at the balance sheet date, options were outstanding in relation to 25,000 A ordinary shares (2025: 25,000 A ordinary shares). The options outstanding at 31 Janaury 2026 had an excercise price ranging from £10.29 to £20.80 and a remaining contractual life of 5 to 8 years.

Page 27

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

22.	Share-based payments

The number and weighted average exercised price of share options during the year are as follows:
	Weighted average exercise price (pence) 2026	Number 2026	Weighted average exercise price (pence) 2025	Number 2025

	Outstanding at the beginning of the year	14.49	25,000	14.49	25,000
	Outstanding at the end of the year	14.49	25,000	14.49	25,000

	The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value. The options outstanding at 31 January 2026 and are fully disclosed in note 21.
	Liabilities and expense During the year, the company recognised total share-based payment (releases)/expenses of £(48,180) (2025 - £68,715) which related to equity settled share based payment transactions.

23.	Other reserves

Employee Benefit Trust Reserve
On 10 November 2004 the company established the Blyth & Blyth Consulting Engineers Limited Employee Benefits Trust (EBT) for the purpose of encouraging or facilitating the holding of shares or debentures in the company by or for the benefit of employees of the company.

Equity share option reserve
Share options are accounted for in accordance with FRS 102 Section 26 “Share based payments”. Equity
settled share based payment transactions include share options where employees receive shares in the company. The fair value of options granted is determined at the grant date and recognised in the profit and loss account over the vesting period, based on the number of awards expected to vest. A corresponding credit is recognised within the equity share option reserve.

Page 28

BLYTH & BLYTH CONSULTING ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Not later than 1 year	238,804	298,163
Later than 1 year and not later than 5 years	703,549	858,094
Later than 5 years	-	84,260
	942,353	1,240,517

25.Related party transactions

The directors are of the opinion that there are no related party transactions.

Page 29