WarmFloors Ltd · Profit and loss 2026

Performance and outturn

Seven months of actuals, August billed and September scheduled, and where that leaves the year.

January to July 2026Actuals

Year end 31 DecemberCalendar financial year

18 August 2026Prepared

Internal use onlyLeodis Group

SummaryWarmFloors · P&L · July 2026

The work is there. Turnover is ahead of last year and June was the strongest month on record, so this is not a demand problem. What has changed is the cost base.

Every figure is on one basis: stock and WIP included, the Employers NI and depreciation the books have not posted charged, and corporation tax and the group payment held out and shown separately.

1 The year so farJanuary to July 2026

Month	Turnover	Gross profit	Margin	Overheads	Result

Read it as a period

June is not a good cost month

Turnover and gross profit exactly as reported. Overheads carry the unposted Employers NI and depreciation in the months that should have had them, so the total ties to the figure the outlook starts from.

1 The year so farThe shape of the year

January to March is the weak quarter every year, and weak by design

Each figure is a quarter's turnover against the average quarter, across the two complete years on record.

The service book went to The Good Heating Co, so WarmFloors is a pure installation business and the winter trough is permanent. It is chosen, not a bad run.

That is why the monthly bar on the next slide is not flat. A flat target would mark this business down every January and reward it every August for the same effort, so the year's overhead requirement is spread across the quarters by these four weights.

1 The year so farGross profit by month

What the month needs Earned, cleared it Earned, short of it Negative month Carries journals, not comparable Expected, not yet reported

2 Against the prior yearsSame seven months, last year

Basis	Turnover	Gross profit	Margin	Overheads	Result

3 Where the year landsSeven months to 31 July

Four versions of the same result, and the third is the one that counts

Stock and WIP belong in it, because deferring the cost of materials bought but not yet used is how a month is matched properly. Corporation tax and the group payment do not, and sit on the last rung.

3 Where the year landsAugust billed, September scheduled

Rolling the start point forward	Turnover	Gross profit	Overheads	Result

August

The margin every forecast month converts at

3 Where the year landsWhat September actually says

At the rate the booked work runs, a completely full September only breaks even

This is not a utilisation problem

4 The only part still openOctober to December

The fourth quarter can neither rescue the year nor ruin it

4 The only part still openWhy the actuals stand as reported

Month	Turnover	Cost justified	Cost booked	Difference	Margin

June and July are each other

5 Against last yearFull year 2026 against 2025

Quarter	Turnover 2025	Turnover 2026	Change	Result 2025	Result 2026	Change

The full year on each basis	2026	2025	Change

6 How far the forecast can goRead the numbers for what they are

The year is three quarters decided. The thing worth challenging is September's mix.

01

There is no order book months ahead

This business books short and installs quickly on a three week lead time. August is billed because the work is done or in hand, and September is scheduled because it sits inside that window. December is not forecastable in the same way, so the fourth quarter is a range off its own history rather than a number.

02

The range is thin, and it barely matters

Two complete years is a thin base for a worst and a best. But every fourth quarter on record lands close to the turnover the quarter needs to pay for itself, so the spread is small against a year that is already three quarters decided.

03

September's free days carry the risk

The free days in September are assumed to come in richer than the work already booked. If they come in at the booked rate instead, September is a break even month rather than a contributing one.

Still outstanding: the balance sheet and the cash position have never been received, the January WIP step has never been recounted, and the convention for the group payment has not been agreed across the group.