FOR THE YEAR ENDED 30 NOVEMBER 2024
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
COMPANY INFORMATION
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
CONTENTS
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
The Directors present their report and the financial statements for the year from 1 December 2023 to 30 November 2024.
During this reporting period, Alliance Groundworks and Civils Limited has sustained robust growth and commercial adaptability in the evolving UK construction market. Specialising in residential groundworks for leading housing developers across the East, West, and South Midlands, we have reinforced our position as a key industry player.
Investment in plant and forward-thinking staff has continued to drive positive results in our third full trading period, while relocation to purpose-built headquarters has facilitated departmental growth and operational efficiency, allowing us to better serve our customers.
Our strong relationships with customers and the supply chain remain the foundation of our success. Delivering high-quality services is central to our commitment to excellence, and we acknowledge that this is only achievable through our partnerships with key stakeholders.
We have seen a decrease in gross profit margin, driven by both the economic climate and uncertainty with a change in government. However, with a strong value of tenders submitted, resilient operational performance and careful contract selection, we anticipate a betterment in gross profit margin in the following year.
Looking ahead, business wide, optimism is high, and it is expected that Alliance Groundworks and Civils Limited will continue to flourish.
Compliance with high safety standards remains a priority, with ongoing investments in training and risk management initiatives. Alliance was able to achieve another year without significant injury. Alliance continues to invest in Health and Safety initiatives to ensure the overall safety of the workforce is paramount. We continue to develop our management systems to ensure they exceed the minimum legal requirements ensuring we keep our workforce safe.
Alliance Groundworks and Civils Limited has demonstrated sustained profitability and strong cash flow for a third consecutive period. Despite net current liabilities of £476,454 per the balance sheet on page 13, attributed to growth and capital investment, the Directors remain confident in the company’s financial stability. Measures such as improved debt collection, supplier cost analysis, and inventory management are expected to enhance working capital in the coming year. A resilient order book and asset investments further reinforce long-term value creation, supporting confidence in the going concern basis of financial statement preparation. The company has assessed retention balances and considers them fully recoverable based on past experience, contractual agreements, and ongoing customer relationships. We maintain stringent monitoring of outstanding retentions, with proactive measures in place to ensure timely recovery.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Economic & Regulatory Risks
Market fluctuations and government housing policies present inherent risks. We actively monitor economic trends and legislative changes, incorporating expert advice into strategic planning.
Supply Chain & Labour Availability
We mitigate material and labour shortages through strategic supplier relationships and workforce development, particularly in response to HS2-related demand shifts.
Sustainability & Carbon Targets
The UK’s sustainability goals present both challenges and opportunities. Our approach includes emissions reduction strategies and investment in greener methodologies of work.
Liquidity Risk
The company closely monitors cash flow, ensuring sufficient reserves to meet obligations. A disciplined approach to monetary management, including structured credit control and cash forecasting, reduces liquidity risk exposure. The company has access to £1.5m in additional liquidity facilities, providing a financial buffer to meet obligations and support growth. A further £2m can be generated through the sale of fully paid-up fixed assets if required.
Overview
Alliance Groundworks & Civils Ltd is committed to sustainability and has undertaken a comprehensive analysis of its carbon footprint for the reporting year ending 30 November 2024. While not yet mandatory, Alliance has taken the initiative to report their full Scope 3 emissions including procurement in the interest of transparency.
Methodology
The carbon footprint was calculated in accordance with the Greenhouse Gas Protocol Accounting and Reporting Standard. Emissions are expressed in tonnes of carbon dioxide equivalent (tCO2e) and cover all seven GHGs specified by the UNFCC Kyoto Protocol.
Carbon Footprint Summary
Measures undertaken through FY2023/2024
∙Onsite EV charging at Head Office
∙Solar Panels introduced at Head Office
∙Cycle-to-Work Scheme
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Conclusion
Alliance Groundworks & Civils Ltd has taken a significant step in decreasing its environmental impact by setting out on an ongoing carbon reduction plan with a variety of different short-term and long-term goals. The company’s ongoing commitment to reducing its carbon footprint aligns with its broader sustainability goals and the global drive to achieve net-zero emissions.
The Directors confirm that they have acted in a manner consistent with their duties under Section 172 of the Companies Act 2006, considering the following factors:
Long-term consequences of decisions
Strategic investments in plant, personnel, and headquarters relocation have been made with a long-term perspective, ensuring sustained profitability and operational scalability.
Employee interests
Regular employee engagement, competitive remuneration, and training initiatives reflect our commitment to staff welfare. Employee feedback has influenced workplace policies, fostering a positive working environment.
Business relationships
Close collaboration with customers and suppliers ensures smooth operations and mutual benefits. Supply chain reliability and customer satisfaction remain high priorities.
Community and environmental impact
We actively pursue sustainable construction practices and waste reduction strategies in alignment with UK sustainability targets. Efforts to minimise our carbon footprint are integral to our long-term strategy.
High standards of business conduct
The company upholds integrity, transparency, and professionalism in all dealings. Compliance with industry regulations and ethical business practices is strictly maintained.
Fairness among members
The Directors ensure all stakeholders are treated equitably, with decisions made in the best interests of the business and its members.
Employee Engagement
The Directors engage with employees through regular meetings, training initiatives, and open communication channels. Employee interests are considered in major business decisions, ensuring a motivated and aligned workforce.
Community and Charity
The company participates in local charitable events and encourages its employees in taking active roles within such charities. We continue to invite all employees to attend the 3 Peaks Challenge with the year’s donations provided to the supported charity.
Political Donations
The company confirms that no political donations or expenditures were incurred during the reporting period.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Alliance Groundworks and Civils Limited has achieved impressive financial results, underscoring our financial stability and prudent approach, with a key improvement in cash control showing itself in our figures for the year. Key performance indicators for this reporting period include:
These figures reflect the company’s strong financial standing and commitment to prudent fiscal management. Continued focus on cost control, operational efficiency, and strategic expansion positions us well for future growth.
This report was approved by the board and signed on its behalf.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
The Directors present their report and the financial statements for the year ended 30 November 2024.
The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
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 judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK 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 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.
The profit for the year, after taxation, amounted to £3,537,143 (2023:£4,020,864).
Dividends of £160,917 (2023: £167,000) were declared and paid in the period to shareholders.
The Directors who served during the year were:
The Directors continue to foster the continued growth of the company, steering its expansion in a manageable and forward-looking manner. This strategic approach is built upon a strong commitment to upholding the exemplary standards for which the company has become widely recognised within the industry.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
The company has marked a strong, third period of trading, displaying continued profitability and generating substantial cash flow. Beyond historic figures and achievements, the Directors have thoroughly examined budgets and forecasts for the following 12-month period post sign-off and confidence in these forecasts remains high. Given considerable profits realised in the year, coupled with financial planning, there is a firm belief that the Company holds the resources to navigate the foreseeable future.
The company has net current liabilities of £476,574 (compared to net current assets of £709,828 in 2023) before accounting for non-current debtors of £2,170,575 (2023: £1,799,328) which is attributed to continued growth and significant capital expenditure which saw the balance sheet improve in value. The company recognises the concerns which this may raise. The directors believe the company can continue operating as a going concern based on planned actions to improve cash flow through improved debt collecting process, supplier price comparisons, cost-cutting measures, actively managing inventory levels and continuously negotiating retentions to improve the working capital position within the next 12 months.
To further support financial resilience, the company has access to additional liquidity facilities, totalling £1.5m, which can be utilised if necessary. These facilities provide a robust financial buffer, enhancing our ability to meet obligations as they arise and supporting our ongoing operations and growth initiatives. The business has at its disposal the option to generate a further £2m through the sale of fully paid-up fixed assets should the need arise.
The company maintains a strong financial foundation with stable cash flows through a resilient order book. The investment in assets underscores management’s commitment to long-term value creation, enhancing operational capacity and revenue-generating potential. The Directors are confident that the business will generate sufficient cash flows to meet its obligations as they fall due and continue its growth trajectory. This net current liability position is expected to lessen as the company settles into its size and begins to see the benefits of the initial outlay for capital.
Considering these factors and the resolute profitability of the company, the directors hold an assuredly positive stance regarding the company's outlook. Consequently, the Directors affirm their agreement with the going concern basis in the preparation of the financial statements.
There have been no significant events affecting the Company since the period end.
The auditors, Bishop Fleming LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
This report was approved by the board and signed on its behalf.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALLIANCE GROUNDWORKS AND CIVILS LIMITED
We have audited the financial statements of Alliance Groundworks and Civils Limited (the 'Company') for the year ended 30 November 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity 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).
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 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.
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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALLIANCE GROUNDWORKS AND CIVILS LIMITED (CONTINUED)
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.
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.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALLIANCE GROUNDWORKS AND CIVILS LIMITED (CONTINUED)
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 Auditors' 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:
∙We have considered the nature of the industry and sector, control environment and business performance;
∙We have considered the results of our enquiries of management and the board about their own identification and assessment of the risks of irregularities within the entity
∙We have considered any matters we identified having obtained and reviewed the company’s documentation of their policies and procedures relating to:
°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
°the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
∙We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, which included incorrect recognition of revenue and management override of controls using manual journal entries, and these were identified as the greatest potential area for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included occupational health and safety regulations, and employment legislation.
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue; enquiring of management and those charged with governance concerning actual and potential litigation and claims;
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; and
∙assessing whether the judgements made in making accounting estimates are indicative of a potential bias.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALLIANCE GROUNDWORKS AND CIVILS LIMITED (CONTINUED)
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
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 Auditors' 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 Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
1-3 College Yard
WR1 2LB
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
REGISTERED NUMBER:12590255
STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 30 form part of these financial statements.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2024
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 NOVEMBER 2024
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Alliance Groundworks and Civils Limited is a private company limited by shares incorporated in the UK and registered in England and Wales. The registered office and principal place of business is Unit 1, Venture Park, Maybrook Road, Walsall Wood, Walsall, WS8 7BB.
The principal activity of the Company is groundworks and civil engineering.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company has marked a strong, third period of trading, displaying continued profitability and generating substantial cash flow. Beyond historic figures and achievements, the Directors have thoroughly examined budgets and forecasts for the following 12-month period post sign-off and confidence in these forecasts remains high. Given considerable profits realised in the year, coupled with financial planning, there is a firm belief that the Company holds the resources to navigate the foreseeable future.
The company has net current liabilities of £476,574 (compared to net current assets of £709,828 in 2023) before accounting for non-current debtors of £2,170,575 (2023: £1,799,328) which is attributed to continued growth and significant capital expenditure which saw the balance sheet improve in value. The company recognises the concerns which this may raise. The directors believe the company can continue operating as a going concern based on planned actions to improve cash flow through improved debt collecting process, supplier price comparisons, cost-cutting measures, actively managing inventory levels and continuously negotiating retentions to improve the working capital position within the next 12 months.
To further support financial resilience, the company has access to additional liquidity facilities, totalling £1.5m, which can be utilised if necessary. These facilities provide a robust financial buffer, enhancing our ability to meet obligations as they arise and supporting our ongoing operations and growth initiatives. The business has at its disposal the option to generate a further £2m through the sale of fully paid-up fixed assets should the need arise.
The company maintains a strong financial foundation with stable cash flows through a resilient order book. The investment in assets underscores management’s commitment to long-term value creation, enhancing operational capacity and revenue-generating potential. The Directors are confident that the business will generate sufficient cash flows to meet its obligations as they fall due and continue its growth trajectory. This net current liability position is expected to lessen as the company settles into its size and begins to see the benefits of the initial outlay for capital.
Considering these factors and the resolute profitability of the company, the directors hold an assuredly positive stance regarding the company's outlook. Consequently, the Directors affirm their agreement with the going concern basis in the preparation of the financial statements.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2.ACCOUNTING POLICIES (continued)
Profit on long-term 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 consistent 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 based on the stage of completion of each contract which is derived from surveys of work performed. Revenues 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 period in which they are first foreseen. Retentions receivable are recognised as revenue to the extent they are deemed recoverable.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2.ACCOUNTING POLICIES (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2.ACCOUNTING POLICIES (continued)
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.
The estimated useful lives range as follows:
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.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2.ACCOUNTING POLICIES (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to related parties and investments in ordinary shares.
Financial assets that are 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 Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position 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.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgments and key sources of estimation uncertainty that the Directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Revenue recognition When the outcome of a construction contract can be estimated reliably and it is probable that the contract will be profitable, contract revenue and costs are recognised over the period of the contract by reference to the stage of completion of each contract which is derived from surveys of work performed. When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. In determining the stage of completion, the Company has appropriate systems for surveying, cost estimating, forecasting, and revenue and costs reporting. The system also requires consistent judgement (forecasting) of the final outcome of the contract. Estimates are an inherent part of this assessment and the actual future outcome may deviate from the estimated outcome.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
The whole of the turnover is attributable to the principal activity described in Note 1.
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
10.TAXATION (CONTINUED)
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ALLIANCE GROUNDWORKS AND CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
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