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REGISTERED NUMBER: SC258470 (Scotland)












Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 August 2024

for

Akela Construction Limited

Akela Construction Limited (Registered number: SC258470)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 15


Akela Construction Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: P Jolly
G Jordan
M A Barr
R L J Ogg





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC258470 (Scotland)





AUDITORS: O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Akela Construction Limited (Registered number: SC258470)

Strategic Report
for the Year Ended 31 August 2024

The directors present their strategic report for the year ended 31 August 2024.

The company's directors are happy with the group's financial performance.

REVIEW OF BUSINESS
Turnover has decreased by 22.44% which has been a strategic decision to allow other sectors and their associated opportunities to be explored. It should also be noted that the turnover and profitability of the business was impacted by the administration of Stewart Milne. The directors are aware of the very competitive nature of the industry and the requirement to ensure that contracts are priced competitively and realistically to allow the company to provide the quality and continuity of service which has become a hallmark of the Akela brand.

PRINCIPAL RISKS AND UNCERTAINTIES
The company continues to experience a very significant level of demand for its services. However, external factors such as limited public body spending along with uncertainty regarding interest and inflation rates are heavily influencing demand and programme delivery of private and social housing schemes. It is proposed going forward that further due diligence be carried out on the financial standing of potential clients to reduce exposure to administration risk. The directors remain very confident regarding the company's future prospects and that the current influences will be resolved.

FUTURE DEVELOPMENTS AND THE POSITION OF THE COMPANY AT THE YEAR END
Similar to previous years, the industry and the company have demonstrated resilience when faced with adversity.

The company continues to remain competitive within its market place and has continued to secure significant contracts in the private housing sector. Whilst remaining within private housing other sectors are now being explored. These sectors are both the Energy and General Civil Engineering marketplace. The strategy is to develop a balanced portfolio of contracts and workstreams that complement each other and allow for any potential sectoral downturns. The directors will remain vigilant with regard to the risks which are associated with all sectors of the construction industry.

ON BEHALF OF THE BOARD:





R L J Ogg - Director


28 May 2025

Akela Construction Limited (Registered number: SC258470)

Report of the Directors
for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

DIVIDENDS
An interim dividend of £80 per share was paid on 31 August 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 August 2024 will be £2,000,000, payable to the company's immediate parent.

DIRECTORS
P Jolly has held office during the whole of the period from 1 September 2023 to the date of this report.

Other changes in directors holding office are as follows:

M A Markey - resigned 20 August 2024
I C Reid - resigned 20 August 2024
Mrs M McIntyre - resigned 20 August 2024
P Winters - resigned 10 May 2024
G Jordan - appointed 6 October 2023
M A Barr - appointed 8 April 2024
R L J Ogg - appointed 20 May 2024

DISABLED EMPLOYEES
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and the the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ENGAGEMENT WITH EMPLOYEES
We have an objective to maintain a competent and supported workforce. Our employees remain our greatest asset, with a skilled and motivated workforce key to achieving successful health, safety and environmental performance levels.

The company is part of the Akela Group and the HSE department support the companies within the group with a wide range of construction industry training relevant to the roles and responsibilities to be undertaken. Training needs will continue to be assessed to ensure employees have the necessary skills and information required to meet the requirements of the company and aid personal development.


Akela Construction Limited (Registered number: SC258470)

Report of the Directors
for the Year Ended 31 August 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 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 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 company'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 company's auditors are aware of that information.

AUDITORS
The auditors, O'Haras Accountants Limited (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R L J Ogg - Director


28 May 2025

Report of the Independent Auditors to the Members of
Akela Construction Limited

Opinion
We have audited the financial statements of Akela Construction Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 company's affairs as at 31 August 2024 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 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 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 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 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.

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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Akela Construction Limited


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 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, 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 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 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.

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:

- We gained an understanding of the legal and regulatory framework applicable to the company and the construction industry in which it operates. We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.
- We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.
- We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.
- We considered how fraud might occur in this company and designed our tests accordingly.
- As in all audits, we also addressed the risk of management override of internal controls, including reviewing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

Report of the Independent Auditors to the Members of
Akela Construction 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.




John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

28 May 2025

Akela Construction Limited (Registered number: SC258470)

Income Statement
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

REVENUE 27,634,965 35,630,335

Cost of sales 22,027,218 29,409,847
GROSS PROFIT 5,607,747 6,220,488

Administrative expenses 4,734,260 5,257,123
873,487 963,365

Other operating income 28,200 219,310
OPERATING PROFIT 3 901,687 1,182,675

Interest receivable and similar income 409,887 305,845
1,311,574 1,488,520

Interest payable and similar expenses 5 28,240 18,008
PROFIT BEFORE TAXATION 1,283,334 1,470,512

Tax on profit 6 338,016 147,793
PROFIT FOR THE FINANCIAL YEAR 945,318 1,322,719

Akela Construction Limited (Registered number: SC258470)

Other Comprehensive Income
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 945,318 1,322,719


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

945,318

1,322,719

Akela Construction Limited (Registered number: SC258470)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 8 884,100 934,636

CURRENT ASSETS
Inventories 9 526,688 501,104
Debtors 10 7,428,038 7,660,581
Cash at bank and in hand 6,264,085 8,451,273
14,218,811 16,612,958
CREDITORS
Amounts falling due within one year 11 5,634,084 6,945,895
NET CURRENT ASSETS 8,584,727 9,667,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,468,827

10,601,699

CREDITORS
Amounts falling due after more than one year 12 (181,910 ) (243,334 )

PROVISIONS FOR LIABILITIES 15 (60,138 ) (76,904 )
NET ASSETS 9,226,779 10,281,461

CAPITAL AND RESERVES
Called up share capital 16 25,000 25,000
Retained earnings 17 9,201,779 10,256,461
SHAREHOLDERS' FUNDS 9,226,779 10,281,461

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





R L J Ogg - Director


Akela Construction Limited (Registered number: SC258470)

Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 25,000 10,433,742 10,458,742

Changes in equity
Dividends - (1,500,000 ) (1,500,000 )
Total comprehensive income - 1,322,719 1,322,719
Balance at 31 August 2023 25,000 10,256,461 10,281,461

Changes in equity
Dividends - (2,000,000 ) (2,000,000 )
Total comprehensive income - 945,318 945,318
Balance at 31 August 2024 25,000 9,201,779 9,226,779

Akela Construction Limited (Registered number: SC258470)

Statement of Cash Flows
for the Year Ended 31 August 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (186,559 ) 2,139,885
Interest element of hire purchase payments
paid

(28,240

)

(18,008

)
Tax paid (200,565 ) (258,153 )
Net cash from operating activities (415,364 ) 1,863,724

Cash flows from investing activities
Purchase of tangible fixed assets (330,975 ) (438,621 )
Purchase of fixed asset investments - (628,646 )
Sale of tangible fixed assets 202,629 96,339
Sale of fixed asset investments - 628,646
Interest received 409,887 305,845
Net cash from investing activities 281,541 (36,437 )

Cash flows from financing activities
Capital repayments in year (53,365 ) 93,846
Equity dividends paid (2,000,000 ) (1,500,000 )
Net cash from financing activities (2,053,365 ) (1,406,154 )

(Decrease)/increase in cash and cash equivalents (2,187,188 ) 421,133
Cash and cash equivalents at beginning of
year

2

8,451,273

8,030,140

Cash and cash equivalents at end of year 2 6,264,085 8,451,273

Akela Construction Limited (Registered number: SC258470)

Notes to the Statement of Cash Flows
for the Year Ended 31 August 2024

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

2024 2023
£    £   
Profit before taxation 1,283,334 1,470,512
Depreciation charges 223,716 212,315
Profit on disposal of fixed assets (44,834 ) (25,006 )
Intercompany debtor (250,158 ) (26,871 )
Amounts recoverable on contracts 631,351 1,952,773
Intercompany creditor (1,238,134 ) 44,867
Finance costs 28,240 18,008
Finance income (409,887 ) (305,845 )
223,628 3,340,753
(Increase)/decrease in inventories (25,584 ) 472,687
Increase in trade and other debtors (148,650 ) (440,866 )
Decrease in trade and other creditors (235,953 ) (1,232,689 )
Cash generated from operations (186,559 ) 2,139,885

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 6,264,085 8,451,273
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 8,451,273 8,030,140


Akela Construction Limited (Registered number: SC258470)

Notes to the Statement of Cash Flows
for the Year Ended 31 August 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 8,451,273 (2,187,188 ) 6,264,085
8,451,273 (2,187,188 ) 6,264,085
Debt
Finance leases (479,910 ) 53,365 (426,545 )
(479,910 ) 53,365 (426,545 )
Total 7,971,363 (2,133,823 ) 5,837,540

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
The company is involved in providing groundwork services to the construction industry. Revenue is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and it's stage of completion. The company will recognise revenue in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably, the company only recognises revenue to the extent of the recoverable expenses recognised.

All revenue excludes value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.


Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Investments
All classes of fixed asset investment are valued at cost.

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 7,954,622 9,579,215
Social security costs 844,488 1,051,366
Other pension costs 590,320 489,711
9,389,430 11,120,292

The average number of employees during the year was as follows:
2024 2023

Administration 52 57
Construction 129 162
181 219

2024 2023
£    £   
Directors' remuneration 648,222 693,445
Directors' pension contributions to money purchase schemes 344,065 206,984

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 151,085 199,532
Pension contributions to money purchase schemes 167,253 4,759

3. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 3,014,854 3,842,845
Other operating leases 85,687 103,298
Depreciation - owned assets 223,716 212,315
Profit on disposal of fixed assets (44,834 ) (25,006 )

4. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

8,000

7,500
Auditors' remuneration for non audit work 32,556 24,719

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 28,240 18,008

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 352,523 272,865
(Over)/Underprovision in
respect of prior year 2,259 (194,396 )
Total current tax 354,782 78,469

Deferred tax (16,766 ) 69,324
Tax on profit 338,016 147,793

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

2024 2023
£    £   
Profit before tax 1,283,334 1,470,512
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.515%)

320,834

316,381

Effects of:
Expenses not deductible for tax purposes 14,923 24,192
Capital allowances in excess of depreciation - (67,708 )
Depreciation in excess of capital allowances 16,766 -
Adjustments to tax charge in respect of previous periods 2,259 (194,396 )
Deferred tax per above note (16,766 ) 69,324
Total tax charge 338,016 147,793

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 2,000,000 1,500,000

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 332,694 189,085 1,181,100 136,034 1,838,913
Additions - - 329,908 1,067 330,975
Disposals - - (433,505 ) - (433,505 )
At 31 August 2024 332,694 189,085 1,077,503 137,101 1,736,383
DEPRECIATION
At 1 September 2023 122,437 150,135 497,505 134,200 904,277
Charge for year 29,800 5,520 186,990 1,406 223,716
Eliminated on disposal - - (275,710 ) - (275,710 )
At 31 August 2024 152,237 155,655 408,785 135,606 852,283
NET BOOK VALUE
At 31 August 2024 180,457 33,430 668,718 1,495 884,100
At 31 August 2023 210,257 38,950 683,595 1,834 934,636

Included in the fixed assets are assets held under hire purchase contracts. In respect of these hire purchase contracts, depreciation of £174,820 has been charged and the assets have a net book value of £752,496.

9. INVENTORIES
2024 2023
£    £   
Stocks 526,688 501,104

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 259,582 178,126
Amounts owed by group undertakings 1,515,913 1,265,755
Amounts recoverable on contracts 5,573,642 6,204,993
Other debtors 70,021 11,307
Directors' current accounts 400 400
Prepayments 8,480 -
7,428,038 7,660,581

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 244,635 236,576
Trade creditors 1,415,508 1,535,354
Amounts owed to group undertakings 578,485 1,816,619
Tax 235,323 81,106
Social security and other taxes 266,350 304,484
VAT 4,261 -
Other creditors 773,514 801,413
Directors' current accounts 14,611 14,611
Accruals and deferred income 2,101,397 2,155,732
5,634,084 6,945,895

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 181,910 243,334

13. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 262,808 256,914
Between one and five years 188,911 256,645
451,719 513,559

Finance charges repayable:
Within one year 18,173 20,338
Between one and five years 7,001 13,311
25,174 33,649

Net obligations repayable:
Within one year 244,635 236,576
Between one and five years 181,910 243,334
426,545 479,910

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

14. SECURED DEBTS

The banking facilities are secured by a floating charge and cross guarantee over the assets and undertakings of the company.

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 60,138 76,904

Deferred
tax
£   
Balance at 1 September 2023 76,904
Credit to Income Statement during year (16,766 )
Balance at 31 August 2024 60,138

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary £1 25,000 25,000

Ordinary shares carry full voting and dividend rights.

17. RESERVES
Retained
earnings
£   

At 1 September 2023 10,256,461
Profit for the year 945,318
Dividends (2,000,000 )
At 31 August 2024 9,201,779

18. ULTIMATE PARENT COMPANY

Akela Property Investments Limited is regarded by the directors as being the company's ultimate parent company.

The company is a wholly owned subsidiary of Akela Property Investments Limited, whose registered office is Radleigh House, 1 Golf Road, Clarkston, Glasgow, G76 7HU Accounts for Akela Property Investments Limited can be obtained from Companies House, 4th Floor, Edinburgh Quay 2, 139 Fountainbridge, Edinburgh, EH3 9FF.

Akela Construction Limited (Registered number: SC258470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

19. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.