IRIS Accounts Production v25.1.4.42 09359129 Board of Directors Board of Directors 30.9.24 1.10.23 30.9.24 30.9.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. a holding company. true true true false true true false false false false false true false Ordinary 1.00000 Ordinary A 1.00000 Ordinary B 1.00000 Ordinary D 1.00000 Oedinary E 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093591292023-09-30093591292024-09-30093591292023-10-012024-09-30093591292022-09-30093591292022-10-012023-09-30093591292023-09-3009359129ns15:EnglandWales2023-10-012024-09-3009359129ns14:PoundSterling2023-10-012024-09-3009359129ns10:Director12023-10-012024-09-3009359129ns10:Director22023-10-012024-09-3009359129ns10:Consolidated2024-09-3009359129ns10:ConsolidatedGroupCompanyAccounts2023-10-012024-09-3009359129ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3009359129ns10:Consolidatedns10:MediumEntities2023-10-012024-09-3009359129ns10:Consolidatedns10:Audited2023-10-012024-09-3009359129ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3009359129ns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3009359129ns10:Consolidated2023-10-012024-09-3009359129ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3009359129ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3009359129ns10:FullAccounts2023-10-012024-09-3009359129ns5:Subsidiary12023-10-012024-09-3009359129ns5:Subsidiary22023-10-012024-09-300935912912023-10-012024-09-3009359129ns10:OrdinaryShareClass12023-10-012024-09-3009359129ns10:OrdinaryShareClass22023-10-012024-09-3009359129ns10:OrdinaryShareClass32023-10-012024-09-3009359129ns10:OrdinaryShareClass42023-10-012024-09-3009359129ns10:OrdinaryShareClass52023-10-012024-09-3009359129ns10:Director32023-10-012024-09-3009359129ns10:CompanySecretary12023-10-012024-09-3009359129ns10:RegisteredOffice2023-10-012024-09-3009359129ns10:Consolidated2022-10-012023-09-3009359129ns5:CurrentFinancialInstruments2024-09-3009359129ns5:CurrentFinancialInstruments2023-09-3009359129ns5:ShareCapital2024-09-3009359129ns5:ShareCapital2023-09-3009359129ns5:SharePremium2024-09-3009359129ns5:SharePremium2023-09-3009359129ns5:RetainedEarningsAccumulatedLosses2024-09-3009359129ns5:RetainedEarningsAccumulatedLosses2023-09-3009359129ns5:ShareCapital2022-09-3009359129ns5:RetainedEarningsAccumulatedLosses2022-09-3009359129ns5:SharePremium2022-09-3009359129ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-3009359129ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-3009359129ns5:NetGoodwill2023-10-012024-09-3009359129ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3009359129ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-10-012024-09-3009359129ns5:PlantMachinery2023-10-012024-09-3009359129ns5:MotorVehicles2023-10-012024-09-3009359129ns5:ComputerEquipment2023-10-012024-09-3009359129ns5:LandBuildings2023-09-3009359129ns5:LandBuildings2024-09-3009359129ns5:LandBuildings2023-09-3009359129ns5:CostValuation2023-09-30093591291ns5:Subsidiary12023-10-012024-09-3009359129ns5:Subsidiary232023-10-012024-09-3009359129ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3009359129ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3009359129ns10:OrdinaryShareClass12024-09-3009359129ns10:OrdinaryShareClass22024-09-3009359129ns10:OrdinaryShareClass32024-09-3009359129ns10:OrdinaryShareClass42024-09-3009359129ns10:OrdinaryShareClass52024-09-3009359129ns5:RetainedEarningsAccumulatedLosses2023-09-3009359129ns5:SharePremium2023-09-30
REGISTERED NUMBER: 09359129 (England and Wales)















ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S Cunningham
S Cleary
M Cunningham (Jnr)





SECRETARY: Indigo Secretaries Limited





REGISTERED OFFICE: Firbank Trading Estate
Dallow Road
Luton
Bedfordshire
LU1 1TD





REGISTERED NUMBER: 09359129 (England and Wales)





AUDITORS: Higginson & Co (UK) Ltd
Statutory Auditors
3 Kensworth Gate
200 - 204 High Street South
Dunstable
Bedfordshire
LU6 3HS

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their strategic report of the company and the group for the year ended 30 September 2024.

REVIEW OF BUSINESS
The companies principal activity in the year continued to be building contractors.

The key financial and other performance indicators in the year were as follows:

These figures are for the full trading year of the subsidiaries along with its comparative data is as follows:

Ashvale Civil Engineering
Limited

2024 2023
£'000000 £'000000
Turnover 48,116 44,395
Total Operating Profit 4,902 2,322
Profit after tax 3,642 1,781
Shareholders funds 8,809 5,484



Ashvale Plant Hire Limited
2024 2023
£'000000 £'000000
Turnover 3,402 3,033
Total Operating Profit 760 837
Profit after tax 481 583
Shareholders funds 4,075 3,594


All results are denoted in thousands.

The directors are satisfied with the results for the year. They believe that the business remains in a strong position.

The financial statements have been prepared on a going concern basis.


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Price/market risk
The directors are aware of the risk from changes in prices and aim to adjust prices of such products to maintain margin in the face of such changes. The directors actively monitor competitor activity to ensure that the company is well positioned in the market place. However while the housing market remains buoyant, the impact of Brexit and the coming election causing a slow down is a potential risk..

Fair value interest rate risk
Trade debtors and creditors do not attract interest and are therefore not subject to fair value interest rate risk.

Credit risk
The company monitors the risk on credit allowed to customers, credit control procedures are reviewed and revised as necessary to ensure any credit risk is kept to a minimum.

Liquidity risk
The company considers its exposure to liquidity risk to be comparatively low and has a conservative approach to expenditure and investments but reviews this on an ongoing basis.

Covid 19/Future pandemic mitigation
The company has instigated practices in line with government recommendations to mitigate the impact of a pandemic and the potential restrictions applied to businesses and the general public. The company has ensured that they operate in a safe environment and has taken measure to monitor the compliance and outcomes. The industry was in general been able to continue to operate subject to some restrictions.

ON BEHALF OF THE BOARD:





S Cleary - Director


26 June 2025

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 September 2024 will be £ 319,000 .

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

S Cunningham
S Cleary
M Cunningham (Jnr)

POLITICAL DONATIONS AND EXPENDITURE
The company made no Political Donations in the year.

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.

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.

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


AUDITORS
The auditors, Higginson & Co (UK) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Cleary - Director


26 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED


Opinion
We have audited the financial statements of Ashvale Civil Engineering (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Statement of 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 September 2024 and of the group's 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 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
ASHVALE CIVIL ENGINEERING
(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
ASHVALE CIVIL ENGINEERING
(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:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified
-the nature of the industry and sector, control environment and business performance including the design of the remuneration policy;
-results of our enquiries of management about their own identification and assessment of the risks of irregularities;
-any matters we identified having obtained and reviewed the Company 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 noncompliance;
- 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;
- the matters discussed among the audit engagement team, including tax 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 and identified the greatest potential for fraud in relation to revenue deferrals. 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, UK Corporate Governance Code and local 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 compliance with Financial Conduct Authority regulation for the UK operating segment and compliance with local legislation

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
ASHVALE CIVIL ENGINEERING
(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.




Donald Brown FCA (Senior Statutory Auditor)
for and on behalf of Higginson & Co (UK) Ltd
Statutory Auditors
3 Kensworth Gate
200 - 204 High Street South
Dunstable
Bedfordshire
LU6 3HS

26 June 2025

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   

TURNOVER 51,517,859 47,419,419

Cost of sales 41,426,881 39,149,798
GROSS PROFIT 10,090,978 8,269,621

Administrative expenses 4,612,782 5,289,559
5,478,196 2,980,062

Other operating income 770 34,073
OPERATING PROFIT 4 5,478,966 3,014,135

Income from fixed asset investments 22,299 10,455
Interest receivable and similar income 124,043 45,428
146,342 55,883
5,625,308 3,070,018
Gain/loss on revaluation of investments 122,317 44,057
5,747,625 3,114,075

Interest payable and similar expenses 5 118,576 78,584
PROFIT BEFORE TAXATION 5,629,049 3,035,491

Tax on profit 6 1,475,797 750,966
PROFIT FOR THE FINANCIAL YEAR 4,153,252 2,284,525

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

4,153,252

2,284,525

Profit attributable to:
Owners of the parent 4,153,252 2,284,525

Total comprehensive income attributable to:
Owners of the parent 4,153,252 2,284,525

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

CONSOLIDATED BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 842,331 907,053
Tangible assets 10 7,857,910 7,034,889
Investments 11 - -
8,700,241 7,941,942

CURRENT ASSETS
Stocks 12 6,246,523 5,918,106
Debtors 13 7,877,543 4,867,364
Investments 14 1,273,574 1,116,483
Cash at bank and in hand 5,357,779 6,264,540
20,755,419 18,166,493
CREDITORS
Amounts falling due within one year 15 7,264,226 7,756,005
NET CURRENT ASSETS 13,491,193 10,410,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,191,434

18,352,430

CREDITORS
Amounts falling due after more than one
year

16

(1,058,308

)

(1,042,440

)

PROVISIONS FOR LIABILITIES 18 (433,921 ) (445,037 )
NET ASSETS 20,699,205 16,864,953

CAPITAL AND RESERVES
Called up share capital 19 130 130
Share premium 20 378,428 378,428
Capital redemption reserve 20 50 50
Retained earnings 20 20,320,597 16,486,345
SHAREHOLDERS' FUNDS 20,699,205 16,864,953

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:




S Cleary - Director


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

COMPANY BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 1,727,389 1,727,389
Investments 11 4,250,000 4,250,000
5,977,389 5,977,389

CURRENT ASSETS
Debtors 13 2,157,570 747,515
Investments 14 1,273,574 1,116,483
Cash at bank and in hand 1,851,418 3,315,217
5,282,562 5,179,215
CREDITORS
Amounts falling due within one year 15 20,540 11,767
NET CURRENT ASSETS 5,262,022 5,167,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,239,411

11,144,837

CAPITAL AND RESERVES
Called up share capital 19 130 130
Share premium 20 279,996 279,996
Retained earnings 20 10,959,285 10,864,711
SHAREHOLDERS' FUNDS 11,239,411 11,144,837

Company's profit for the financial year 413,574 2,678,782

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:




S Cleary - Director



M Cunningham (Jnr) - Director


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 October 2022 130 15,420,820 378,428 50 15,799,428

Changes in equity
Dividends - (1,219,000 ) - - (1,219,000 )
Total comprehensive income - 2,284,525 - - 2,284,525
Balance at 30 September 2023 130 16,486,345 378,428 50 16,864,953

Changes in equity
Dividends - (319,000 ) - - (319,000 )
Total comprehensive income - 4,153,252 - - 4,153,252
Balance at 30 September 2024 130 20,320,597 378,428 50 20,699,205

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 October 2022 130 9,404,929 279,996 9,685,055

Changes in equity
Dividends - (1,219,000 ) - (1,219,000 )
Total comprehensive income - 2,678,782 - 2,678,782
Balance at 30 September 2023 130 10,864,711 279,996 11,144,837

Changes in equity
Dividends - (319,000 ) - (319,000 )
Total comprehensive income - 413,574 - 413,574
Balance at 30 September 2024 130 10,959,285 279,996 11,239,411

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,501,662 4,720,623
Interest element of hire purchase payments
paid

(118,576

)

(78,584

)
Tax paid (681,960 ) (869,961 )
Net cash from operating activities 2,701,126 3,772,078

Cash flows from investing activities
Purchase of tangible fixed assets (3,435,749 ) (4,454,408 )
Sale of tangible fixed assets 590,135 578,382
Interest received 124,043 45,428
Dividends received 22,299 10,455
Movement in value of investments 12,590 44,057
Net cash from investing activities (2,686,682 ) (3,776,086 )

Cash flows from financing activities
Capital repayments in year (20,745 ) 1,237,969
Amount introduced by directors - 583,020
Amount withdrawn by directors (581,460 ) -
Equity dividends paid (319,000 ) (1,219,000 )
Net cash from financing activities (921,205 ) 601,989

(Decrease)/increase in cash and cash equivalents (906,761 ) 597,981
Cash and cash equivalents at beginning of
year

2

6,264,540

5,666,559

Cash and cash equivalents at end of year 2 5,357,779 6,264,540

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


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

30.9.24 30.9.23
£    £   
Profit before taxation 5,629,049 3,035,491
Depreciation charges 2,335,502 1,935,138
Profit on disposal of fixed assets (248,186 ) (273,136 )
Gain on revaluation of fixed assets (122,317 ) (44,057 )
Finance costs 118,576 78,584
Finance income (146,342 ) (55,883 )
7,566,282 4,676,137
Increase in stocks (328,417 ) (1,032,615 )
Increase in trade and other debtors (2,831,645 ) (976,232 )
(Decrease)/increase in trade and other creditors (904,558 ) 2,053,333
Cash generated from operations 3,501,662 4,720,623

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:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 5,357,779 6,264,540
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 6,264,540 5,666,559


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 6,264,540 (906,761 ) 5,357,779
6,264,540 (906,761 ) 5,357,779

Liquid resources
Current asset investments 1,116,483 157,091 1,273,574
1,116,483 157,091 1,273,574
Debt
Finance leases (2,380,923 ) 20,745 (2,360,178 )
(2,380,923 ) 20,745 (2,360,178 )
Total 5,000,100 (728,925 ) 4,271,175

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Ashvale Civil Engineering (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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks 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 Consolidated Statement of Comprehensive Income, 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 balance sheet date.


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 1,883,983 2,890,796
Social security costs 204,489 342,405
Other pension costs 339,043 323,275
2,427,515 3,556,476

The average number of employees during the year was as follows:
30.9.24 30.9.23

Directors 3 3
Administrative 19 13
Other staff 34 30
56 46

30.9.24 30.9.23
£    £   
Directors' remuneration 66,791 1,162,549
Directors' pension contributions to money purchase schemes 170,000 177,500

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. OPERATING PROFIT

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

30.9.24 30.9.23
£    £   
Depreciation - owned assets 2,270,779 1,870,416
Profit on disposal of fixed assets (248,186 ) (273,136 )
Goodwill amortisation 64,722 64,722
Auditors' remuneration 44,590 32,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Hire purchase 118,576 78,584

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
UK corporation tax 1,435,468 591,656
Over/under provision in prior
year - 36
Interest of corporation tax 51,445 39,027
Total current tax 1,486,913 630,719

Deferred tax (11,116 ) 120,247
Tax on profit 1,475,797 750,966

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. DIVIDENDS
30.9.24 30.9.23
£    £   
Ordinary shares of £1 each
Interim 108,000 308,000
Ordinary A shares of £1 each
Interim 108,000 308,000
Ordinary B shares of 1 each
Interim 103,000 153,000
Ordinary D shares of £1 each
Interim - 200,000
Oedinary E shares of £1 each
Interim - 200,000
Ordinary F shares of £1 each
Interim - 50,000
319,000 1,219,000

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 1,295,437
AMORTISATION
At 1 October 2023 388,384
Amortisation for year 64,722
At 30 September 2024 453,106
NET BOOK VALUE
At 30 September 2024 842,331
At 30 September 2023 907,053

Goodwill represents the amount in excess of net asset value paid for Ashvale Plant Hire Ltd, a company registered in England & Wales that was purchase on the 24th of July 2017.

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 1,727,389 7,630,387 71,918
Additions - 2,966,400 -
Disposals - (1,198,957 ) -
At 30 September 2024 1,727,389 9,397,830 71,918
DEPRECIATION
At 1 October 2023 - 3,440,356 57,209
Charge for year - 1,747,616 6,531
Eliminated on disposal - (857,008 ) -
At 30 September 2024 - 4,330,964 63,740
NET BOOK VALUE
At 30 September 2024 1,727,389 5,066,866 8,178
At 30 September 2023 1,727,389 4,190,031 14,709

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 2,453,274 19,594 11,902,562
Additions 469,349 - 3,435,749
Disposals (206,814 ) - (1,405,771 )
At 30 September 2024 2,715,809 19,594 13,932,540
DEPRECIATION
At 1 October 2023 1,350,468 19,640 4,867,673
Charge for year 516,623 9 2,270,779
Eliminated on disposal (206,814 ) - (1,063,822 )
At 30 September 2024 1,660,277 19,649 6,074,630
NET BOOK VALUE
At 30 September 2024 1,055,532 (55 ) 7,857,910
At 30 September 2023 1,102,806 (46 ) 7,034,889

The freehold property was acquired by the company on the 27/09/2022 and has not been depreciated in this year. Following recept of planning permission work commenced on building the new head office site in 2025.

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. TANGIBLE FIXED ASSETS - continued

Company
Freehold
property
£   
COST
At 1 October 2023
and 30 September 2024 1,727,389
NET BOOK VALUE
At 30 September 2024 1,727,389
At 30 September 2023 1,727,389

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 4,250,000
NET BOOK VALUE
At 30 September 2024 4,250,000
At 30 September 2023 4,250,000

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Ashvale Civil Engineering Ltd
Registered office:
Nature of business: Construction engineering
%
Class of shares: holding
All classes of ordinary shares 100.00

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


11. FIXED ASSET INVESTMENTS - continued

Ashvale Plant Hire Limited
Registered office:
Nature of business: Plant & Equipment Hire
%
Class of shares: holding
All classes of ordinary shares 100.00

On the 24th July 2017 the company acquired the whole of the share capital of Ashvale Plant Hire Limited, a company registered in England & Wales for £ 2,400,000.

The net assets of the business at 30 June 2017 were £ 1,104,563. The balance of the payment made represents goodwill.


12. STOCKS

Group
30.9.24 30.9.23
£    £   
Valuation 6,180,939 5,852,522
Raw materials 65,584 65,584
6,246,523 5,918,106

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Trade debtors 628,210 68,429 - -
Amounts owed by participating interests 217,660 47,094 217,660 47,094
Amounts owed by associates 427,749 419,781 789,489 700,000
Other debtors 1,531,919 349,896 1,150,421 421
VAT 1,166,338 602,408 - -
Prepayments and accrued income 3,905,667 3,379,756 - -
7,877,543 4,867,364 2,157,570 747,515

Included in the company debtors is an amount leant by the Holding company to Three Sea Homes Limited a company incorporated in England & Wales that is under the common control of the directors.

Also included in other debtors is an amount leant to mr S Cunningham, a director and shareholder of Ashvale Civil Engineering (Holdings) Limited of £1150000. This amount as approved by the board and has been repaid at the sate of signing the accounts.

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


14. CURRENT ASSET INVESTMENTS

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Listed investments 1,273,574 1,116,483 1,273,574 1,116,483

Market value of listed investments at 30 September 2024 held by the group and the company - £ (1,273,574) (2023 - £ (1,116,483) ).

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Hire purchase contracts (see note 17) 1,301,870 1,338,483 - -
Trade creditors 3,765,092 4,174,743 633 2
Amounts owed to participating interests 14,000 5,761 14,000 5,761
Amounts owed to associates 217,660 - - -
Corporation tax 1,396,609 591,656 - -
Social security and other taxes 46,094 696,659 - -
Pensions 879 960 - -
VAT - - 5,907 6,004
Other creditors 14,648 8,457 - -
Directors' current accounts 7,800 589,260 - -
Accrued expenses 499,574 350,026 - -
7,264,226 7,756,005 20,540 11,767

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 17) 1,058,308 1,042,440

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.9.24 30.9.23
£    £   
Gross obligations repayable:
Within one year 1,428,028 1,438,908
Between one and five years 1,158,750 1,154,147
2,586,778 2,593,055

Finance charges repayable:
Within one year 126,158 100,425
Between one and five years 100,442 111,707
226,600 212,132

Net obligations repayable:
Within one year 1,301,870 1,338,483
Between one and five years 1,058,308 1,042,440
2,360,178 2,380,923

18. PROVISIONS FOR LIABILITIES

Group
30.9.24 30.9.23
£    £   
Deferred tax 433,921 445,037

Group
Deferred
tax
£   
Balance at 1 October 2023 445,037
Credit to Statement of Comprehensive Income during year (11,116 )
Balance at 30 September 2024 433,921

ASHVALE CIVIL ENGINEERING
(HOLDINGS) LIMITED (REGISTERED NUMBER: 09359129)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
40 Ordinary £1 40 40
40 Ordinary A £1 40 40
20 Ordinary B 1 20 20
10 Ordinary D £1 10 10
10 Oedinary E £1 10 10
10 Ordinary F £1 10 10
130 130

20. RESERVES

Group
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 October 2023 16,486,345 378,428 50 16,864,823
Profit for the year 4,153,252 4,153,252
Dividends (319,000 ) (319,000 )
At 30 September 2024 20,320,597 378,428 50 20,699,075

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 October 2023 10,864,711 279,996 11,144,707
Profit for the year 413,574 413,574
Dividends (319,000 ) (319,000 )
At 30 September 2024 10,959,285 279,996 11,239,281