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REGISTERED NUMBER: 10988432 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

FOR

ASCIA HOLDINGS LIMITED

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


ASCIA HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024







DIRECTORS: Mr N V Cole
Mr R Emery



REGISTERED OFFICE: Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS



BUSINESS ADDRESS: The Portico
Stansted Park
Rowlands Castle
Hampshire
PO9 6DX



REGISTERED NUMBER: 10988432 (England and Wales)



SENIOR STATUTORY AUDITOR: Chris Hession



INDEPENDENT AUDITORS: BK Plus Audit Limited
Azzurri House
Walsall Business Park
Aldridge
Walsall
West Midlands
WS9 0RB

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

GROUP STRATEGIC REPORT
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


The directors present their strategic report of the company and the group for the period 1 January 2023 to 30 April 2024.

REVIEW OF BUSINESS
Ascia Construction is an independent, privately owned building contracting company based on the Hampshire / West Sussex border, working on construction projects between £500,000 and £10m in value.

Ascia Construction works within all sectors of construction including education, commercial, industrial, residential, leisure, retail, health, community and refurbishments.

The directors are passionate about collaborative working and are focused on retaining loyal client, consultant and supplier relationships.

During this financial period (extended to 16 months), Ascia has experienced a period of planned growth, increasing turnover from £20m to £34m.

Over the course of this period, Ascia Construction has invested in new project management software to centralise our record keeping and to enhance collaboration, thus ensuring a higher level of control throughout the business. This in turn aligns with the controls implemented in achieving the businesses ISO 9001, 14001, 45001 accreditations. This digital transformation has not only reduced paperwork but has also improved communication, made reporting more efficient and positioned Ascia for continued growth and innovation.

It is the aim of the business to continue with managed growth targeting a turnover of £35M entering the 2024/2025 12-month period.


ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

GROUP STRATEGIC REPORT
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

PRINCIPAL RISKS AND UNCERTAINTIES
- Health and Safety. The construction industry is an inherently high-risk industry which means Ascia's staff and subcontractors are often carrying out or managing high risk activities. We therefore prioritise the management of Health and Safety above all other considerations. Ascia Construction employs the professional independent safety company LCS Health & Safety, to ensure that we perform to the highest safety standards and keep on top of current best practice and legislation. Ascia Construction is a proud member of Acclaim SSIP and is Constructionline Gold accredited, having been awarded accreditations for its commitment to achieving excellence in health and safety.

- Economic and Political Uncertainty. Construction companies face a variety of economic risks that can impact their operations and profitability. These risks can stem from macroeconomic conditions, industry-specific challenges, and internal factors. All of these can cause market fluctuations, economic downturns, cost uncertainty, policy and contractual changes. During the last financial period both hyperinflation and wars within Europe have had to be considered, with both costs and availability of materials severely affected. All such uncertainties have a knock-on effect to clients and the supply chain alike.
Ascia tracks and monitors the economic and political environment so that the business can react effectively and promptly to any significant changes.
Because our work is across a broad range of sectors, with a significant percentage of it being within the public sector, any adverse effects of economic cycles are largely mitigated, since when one sector is in decline, another sector is often in growth.

- Subcontractors and Suppliers - Ascia relies on the performance and professionalism of its subcontractors and supply chain to deliver results on its behalf. This can mean risks in respect of both safety and financial loss. Ascia Construction has implemented a robust subcontractor and supplier approval process to ensure that the subcontractors and suppliers used are not only operating safely on site but in addition, that they are financially secure, and able to perform at the highest level.

- Staff Retention - Ascia relies on its staff to deliver quality results, which would not be possible without being able to attract and retain the highest quality labour. Ascia is proud of its high level of staff retention, achieved through the creation of a collaborative team environment, alongside competitive remuneration packages.

POSITION AS YEAR END
The business finishes the year in a strong financial position with no borrowing, and a number of substantial projects secured to take forward into 2024/2025, with 72% of forecast turnover secured prior to the start of the new financial period.

Ascia Construction have reported a turnover of £33.9m (2022: £19.6m) for the financial period, with a gross profit of £2.8m (2022: £1.57m), an increase in profit margin to 8.31% from 8.00% in 2022. There has been a managed increase in overheads to correspond directly with the growth of the business which has resulted in an increase in net profit to £0.63m (2022: £0.29m).

We have managed to secure a solid foundation of staff with a very low level of turnover and in addition, have made several new key staff appointments in order to maintain and improve the production side of the business as it grows. Ascia has also continued to support several members of staff through apprenticeships and higher education whilst developing their skills within the workplace.

ON BEHALF OF THE BOARD:





Mr N V Cole - Director


28 January 2025

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


The directors present their report with the financial statements of the company and the group for the period 1 January 2023 to 30 April 2024.

DIVIDENDS
An interim dividend of 251.188 per share was paid on 30 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 30 April 2024 will be £ 251,188 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr N V Cole
Mr R Emery

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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), 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


AUDITORS
The auditors, BK Plus Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr N V Cole - Director


28 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASCIA HOLDINGS LIMITED


Opinion
We have audited the financial statements of Ascia Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 April 2024 and of the group's profit for the period 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 group 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 group's and the parent 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 Group 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASCIA HOLDINGS LIMITED


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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASCIA HOLDINGS LIMITED


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:

Extent to which the audit was capable of detecting irregularities, including fraud.

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. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Principles and the relevant tax compliance regulations for the company.

- We obtained an understanding of how the company is complying with these frameworks through discussions with management.

- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

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.

Other matters which we are required to address
The comparative figures for year ended 31 December 2022 are unaudited.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASCIA HOLDINGS LIMITED


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.




Chris Hession (Senior Statutory Auditor)
for and on behalf of BK Plus Audit Limited
Azzurri House
Walsall Business Park
Aldridge
Walsall
West Midlands
WS9 0RB

28 January 2025

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

CONSOLIDATED INCOME STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

Period
1.1.23
to Year Ended
30.4.24 31.12.22
Notes £    £   

TURNOVER 3 33,988,660 19,660,342

Cost of sales (31,163,403 ) (18,087,515 )
GROSS PROFIT 2,825,257 1,572,827

Administrative expenses (2,201,835 ) (1,282,029 )
OPERATING PROFIT 5 623,422 290,798

Interest receivable and similar income 27,424 280
650,846 291,078

Interest payable and similar expenses 6 (23,066 ) (14 )
PROFIT BEFORE TAXATION 627,780 291,064

Tax on profit 7 565,932 390
PROFIT FOR THE FINANCIAL PERIOD 1,193,712 291,454
Profit attributable to:
Owners of the parent 1,193,712 291,454

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

Period
1.1.23
to Year Ended
30.4.24 31.12.22
Notes £    £   

PROFIT FOR THE PERIOD 1,193,712 291,454


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

1,193,712

291,454

Total comprehensive income attributable to:
Owners of the parent 1,193,712 291,454

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

CONSOLIDATED BALANCE SHEET
30 APRIL 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 27,018 21,721
Investments 11 - -
27,018 21,721

CURRENT ASSETS
Stocks 12 3,528,592 2,788,881
Debtors 13 4,934,947 2,117,146
Cash at bank 839,505 1,544,419
9,303,044 6,450,446
CREDITORS
Amounts falling due within one year 14 7,664,909 5,752,166
NET CURRENT ASSETS 1,638,135 698,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,665,153

720,001

PROVISIONS FOR LIABILITIES 15 6,755 4,127
NET ASSETS 1,658,398 715,874

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 1,658,298 715,774
SHAREHOLDERS' FUNDS 1,658,398 715,874

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:




Mr N V Cole - Director



Mr R Emery - Director


ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

COMPANY BALANCE SHEET
30 APRIL 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 100 100
100 100

CURRENT ASSETS
Cash at bank 641 663

CREDITORS
Amounts falling due within one year 14 641 663
NET CURRENT LIABILITIES - -
TOTAL ASSETS LESS CURRENT
LIABILITIES

100

100

CAPITAL AND RESERVES
Called up share capital 16 100 100
SHAREHOLDERS' FUNDS 100 100

Company's profit for the financial year 251,188 187,459

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:




Mr N V Cole - Director



Mr R Emery - Director


ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 611,779 611,879

Changes in equity
Dividends - (187,459 ) (187,459 )
Total comprehensive income - 291,454 291,454
Balance at 31 December 2022 100 715,774 715,874

Changes in equity
Dividends - (251,188 ) (251,188 )
Total comprehensive income - 1,193,712 1,193,712
Balance at 30 April 2024 100 1,658,298 1,658,398

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 - 100

Changes in equity
Dividends - (187,459 ) (187,459 )
Total comprehensive income - 187,459 187,459
Balance at 31 December 2022 100 - 100

Changes in equity
Dividends - (251,188 ) (251,188 )
Total comprehensive income - 251,188 251,188
Balance at 30 April 2024 100 - 100

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024

Period
1.1.23
to Year Ended
30.4.24 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (495,663 ) 528,379
Interest paid (23,066 ) (14 )
Tax paid 56,328 101,970
Net cash from operating activities (462,401 ) 630,335

Cash flows from investing activities
Purchase of tangible fixed assets (26,039 ) (13,761 )
Interest received 27,424 280
Net cash from investing activities 1,385 (13,481 )

Cash flows from financing activities
Amount withdrawn by directors 7,290 5,793
Equity dividends paid (251,188 ) (187,459 )
Net cash from financing activities (243,898 ) (181,666 )

(Decrease)/increase in cash and cash equivalents (704,914 ) 435,188
Cash and cash equivalents at beginning
of period

2

1,544,419

1,109,231

Cash and cash equivalents at end of
period

2

839,505

1,544,419

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


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

Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Profit before taxation 627,780 291,064
Depreciation charges 18,343 8,685
Loss on disposal of fixed assets 2,399 -
Finance costs 23,066 14
Finance income (27,424 ) (280 )
644,164 299,483
Increase in stocks (739,711 ) (2,261,636 )
Increase in trade and other debtors (2,359,643 ) (869,475 )
Increase in trade and other creditors 1,959,527 3,360,007
Cash generated from operations (495,663 ) 528,379

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:

Period ended 30 April 2024
30.4.24 1.1.23
£    £   
Cash and cash equivalents 839,505 1,544,419
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 1,544,419 1,109,231


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank 1,544,419 (704,914 ) 839,505
1,544,419 (704,914 ) 839,505
Total 1,544,419 (704,914 ) 839,505

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


1. STATUTORY INFORMATION

Ascia Holdings 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 consolidated financial statements incorporate those of Ascia Construction Limited (i.e. entity that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries are consolidated using the purchase method.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

The comparative figures in the accounts are unaudited.

Basis of consolidation
In the parent company's financial statements, investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Work in progress
For incomplete contracts the value of work in progress reflects the partial performance of the contractual obligations. For such contracts work in progress reflects the accrual of the right to consideration by reference to the value of work performed.

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate if interest.

Financial liabilities
Financial liabilities are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

Equity instruments
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting financial assets and financial liabilities
Financial assets are liabilities are offset against and the net amount reported in the balance sheet when there is an 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.

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

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

An analysis of turnover by class of business is given below:

Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Construction 33,988,660 19,660,342
33,988,660 19,660,342

An analysis of turnover by geographical market is given below:

Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
United Kingdom 33,988,660 19,660,342
33,988,660 19,660,342

4. EMPLOYEES AND DIRECTORS
Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Wages and salaries 2,120,201 1,284,096
Social security costs 248,998 150,874
Other pension costs 128,926 123,746
2,498,125 1,558,716

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period
1.1.23
to Year Ended
30.4.24 31.12.22

Directors 2 2
Site management 10 8
Construction management 4 3
Quantity surveyors 4 4
Technical 4 4
Finance and administration 6 6
30 27

The average number of employees by undertakings that were proportionately consolidated during the period was 30 (2022 - 27 ) .

Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Directors' remuneration 30,667 23,000
Directors' pension contributions to money purchase schemes 36,154 64,998

5. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Hire of plant and machinery 563,333 833,722
Other operating leases 66,137 47,677
Depreciation - owned assets 18,343 8,685
Loss on disposal of fixed assets 2,399 -
Auditors' remuneration 17,700 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Other interest paid 23,066 14

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


7. TAXATION

Analysis of the tax credit
The tax credit on the profit for the period was as follows:
Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Current tax:
UK corporation tax (568,560 ) (1,355 )

Deferred tax 2,628 965
Tax on profit (565,932 ) (390 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Profit before tax 627,780 291,064
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2022 - 19 %)

156,945

55,302

Effects of:
Expenses not deductible for tax purposes 29,410 521
Capital allowances in excess of depreciation (1,902 ) (1,749 )
Hybrid rate (2,069 ) -
R & D Refund (749,828 ) (55,429 )
Deferred tax 2,628 965
Marginal relief (1,116 ) -

Total tax credit (565,932 ) (390 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


9. DIVIDENDS
Period
1.1.23
to Year Ended
30.4.24 31.12.22
£    £   
Ordinary shares of £1 each
Interim 251,188 187,459

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 33,594 8,554 21,073 63,221
Additions 21,009 5,030 - 26,039
Disposals (17,732 ) - - (17,732 )
At 30 April 2024 36,871 13,584 21,073 71,528
DEPRECIATION
At 1 January 2023 24,025 5,293 12,182 41,500
Charge for period 12,612 2,767 2,964 18,343
Eliminated on disposal (15,333 ) - - (15,333 )
At 30 April 2024 21,304 8,060 15,146 44,510
NET BOOK VALUE
At 30 April 2024 15,567 5,524 5,927 27,018
At 31 December 2022 9,569 3,261 8,891 21,721

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 30 April 2024 100
NET BOOK VALUE
At 30 April 2024 100
At 31 December 2022 100


ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


12. STOCKS

Group
2024 2022
£    £   
Work-in-progress 3,528,592 2,788,881

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2022
£    £   
Trade debtors 4,358,178 2,053,532
Other debtors 41,339 -
Tax 513,587 55,429
Prepayments 21,843 8,185
4,934,947 2,117,146

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2022 2024 2022
£    £    £    £   
Trade creditors 5,833,537 5,281,885 - -
Amounts owed to group undertakings - - 641 663
Tax - 54,074 - -
Social security and other taxes 126,080 98,395 - -
VAT 1,521,459 295,477 - -
Other creditors 8,583 2,293 - -
Pension control 10,303 - - -
Directors' current accounts 24,432 17,142 - -
Accrued expenses 140,515 2,900 - -
7,664,909 5,752,166 641 663

15. PROVISIONS FOR LIABILITIES

Group
2024 2022
£    £   
Deferred tax
Accelerated capital allowances 6,755 4,127

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


15. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 January 2023 4,127
Provided during period 2,628
Balance at 30 April 2024 6,755

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
100 Ordinary £1 100 100

Shares rank equally for voting rights, dividends and any distribution made.

17. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 715,774
Profit for the period 1,193,712
Dividends (251,188 )
At 30 April 2024 1,658,298

Company
Retained
earnings
£   

Profit for the period 251,188
Dividends (251,188 )
At 30 April 2024 -


18. PENSION COMMITMENTS

The total pension paid in respect of defined contributions was £128,826 (2022 : £123,746).

The amount owing at the balance sheet date was £10,303 (2022 : £Nil).

ASCIA HOLDINGS LIMITED (REGISTERED NUMBER: 10988432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 APRIL 2024


19. ULTIMATE CONTROLLING PARTY

By virtue of their shareholdings, the directors, N Cole and R Emery, are considered to be the ultimate controlling parties of the group.

20. CHANGE OF ACCOUNTING PERIOD

The company's year end has been extended to a 16 month period ending April 2024 per the company's strategic planning.