Registered number
09534978
Ermine Construction Services Limited
Filleted Accounts
31 December 2024
Ermine Construction Services Limited
Registered number: 09534978
Directors' Report
The directors present their report and accounts for the year ended 31 December 2024.
Principal activities
The company's principal activity during the year continued to be the construction of new homes and undertaking and completing general building and construction projects.
Directors review of the year and outlook for 2025
It gives us great pleasure to present the Director’s Report for Ermine for the year ending 31st December 2024.

A Year of Achievement and Progress
2024 has been a significant year in Ermine’s journey. As a company, we have continued to grow, evolve and demonstrate resilience in a demanding sector. Turnover increased as expected and outlined within our Strategic Business Plan by 111% and we maintain the expected profit level.

Key Project Milestones
During the year, we successfully:
• Completed two major projects: Meadowcroft and Canvey Island
• Commenced four exciting new developments:
• Naked House – 22 Units
• Sparrow Farm Drive – 9 Units
• Caishowe Road – 3 Units
• Manor Gardens – 6 Units

These developments reflect the continued trust placed in Ermine by our partners and the high standard of delivery that our team consistently upholds.

Operational Excellence & Awards
In 2024, we were proud to obtain ISO accreditations in:
• ISO 9001 (Quality Management)
• ISO 14001 (Environmental Management)
• ISO 45001 (Occupational Health & Safety)
• We received Gold in the High Growth Business & Best Overall Winner in the SME Cambridgeshire Awards

These accreditations demonstrate our continued investment in operational excellence and our commitment to the highest standards of quality, sustainability, and safety.

Framework Success
We secured positions on several key frameworks and dynamic purchasing systems, including:
• Prosper Procurement DPS
• Procurement for Housing Framework
• South East Consortium DPS

These frameworks support our growth strategy and continue to open up new opportunities for the business into 2025 and beyond.

Looking Ahead to 2025

The year ahead promises to be one of celebration and continued success. Most notably, 10th April 2025 marks our 10th year of trading – a milestone we will be commemorating with pride and visibility across our platforms, including a special email footer and social campaign.

As of year end, our current secured workload for 2025 including pre-existing awards stands at £14.0m with a further £17.7m being currently negotiated.
Directors
The following persons served as directors during the year:
Darren Peters
Fiona Peters
Mark Peasey (terminated 31st March 2025)
Philip Burrows (appointed 1st January 2025)
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 11 July 2025 and signed on its behalf.
D Peters
Director
Ermine Construction Services Limited
Registered number: 09534978
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 170,984 136,888
Current assets
Stocks 35,997 50,647
Debtors 4 867,958 991,461
Cash at bank and in hand 1,080,809 878,513
1,984,764 1,920,621
Creditors: amounts falling due within one year 5 (1,453,719) (1,455,679)
Net current assets 531,045 464,942
Total assets less current liabilities 702,029 601,830
Creditors: amounts falling due after more than one year 6 (119,570) (146,335)
Provisions for liabilities (42,548) (33,885)
Net assets 539,911 421,610
Capital and reserves
Called up share capital 100 100
Profit and loss account 539,811 421,510
Shareholders' funds 539,911 421,610
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Peters
Director
Approved by the board on 11 July 2025
Ermine Construction Services Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance method
Fixtures, fittings, tools and equipment 25% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 8,631 41,141 148,280 198,052
Additions - 14,916 75,271 90,187
Disposals - - (3,500) (3,500)
At 31 December 2024 8,631 56,057 220,051 284,739
Depreciation
At 1 January 2024 7,644 19,052 34,468 61,164
Charge for the year 197 8,553 45,153 53,903
On disposals - - (1,312) (1,312)
At 31 December 2024 7,841 27,605 78,309 113,755
Net book value
At 31 December 2024 790 28,452 141,742 170,984
At 31 December 2023 987 22,089 113,812 136,888
4 Debtors 2024 2023
£ £
Trade debtors 535,859 900,158
Other debtors 332,099 91,303
867,958 991,461
Amounts due after more than one year included above 201,417 68,578
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 29,919 29,523
Obligations under finance lease and hire purchase contracts 28,410 17,623
Trade creditors 905,201 1,208,476
Taxation and social security costs 53,982 119,563
Other creditors 436,207 80,494
1,453,719 1,455,679
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 52,524 82,038
Obligations under finance lease and hire purchase contracts 67,046 64,297
119,570 146,335
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 82,443 111,561
The loan is from Starling Bank and is secured by a directors guarentee given by Darren Peters and Fiona Peters.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 5,877 13,713
9 Related party transactions
During the year the company purchased £111,200 of professional services from Abbey Consultancy Services Ltd, a company controlled by Mark Peasey, The amount due to Abbey Consultancy Services at the year end was £22,944.
10 Controlling party
The company is controlled by Darren Peters and Fiona Peters, who jointly own 80% of the issued share capital of the company.
11 Other information
Ermine Construction Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 St Georges Tower
Hatley St Geroge
Sandy
Cambridgeshire
SG19 3SH
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