The original financial statements for the year ended 30 June 2026 contained errors in the classification and presentation of certain Construction Industry Scheme (CIS) tax balances and VAT balances. Certain CIS balances were incorrectly recognised within turnover and subcontractor expenses rather than being presented as amounts recoverable or payable in the statement of financial position. As a result, the original financial statements did not correctly present the company’s income, expenses, assets and liabilities in accordance with the applicable accounting requirements of the Companies Act 2006 and FRS 105.
The financial statements for the year ended 30 June 2026 have been revised to correct the accounting classification of Construction Industry Scheme (CIS) tax balances and the presentation of VAT balances. The amendments include the reclassification of CIS tax recoverable and CIS tax payable to the appropriate current asset and current liability categories, together with corresponding corrections to turnover, subcontractor expenses and the reported profit or loss. The comparative figures for the year ended 30 June 2025 have also been amended, where applicable, to reflect corrections to prior-period accounting errors. The revisions affect the income statement, statement of financial position and capital and reserves.