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Registered number: 09903246
















VIA EAST MIDLANDS LIMITED




ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

































VIA EAST MIDLANDS LIMITED

 
COMPANY INFORMATION


DIRECTORS
R A Adair (resigned 30 May 2025)
R I Jackson (resigned 14 May 2025)
M D Lugg OBE 
D S Maher 
M J Walker (resigned 27 April 2025)
G Bicknell 
M W Bexton (appointed 14 May 2025)




COMPANY SECRETARY
 S J Sargent



REGISTERED NUMBER
09903246



REGISTERED OFFICE
Bilsthorpe Depot
Bilsthorpe Business Park

Eakring Road

Bilsthorpe

Newark

NG22 8ST




INDEPENDENT AUDITORS
Bishop Fleming LLP
Chartered Accountants & Statutory Auditors

Salt Quay House

4 North East Quay

Sutton Harbour

Plymouth

PL4 0BN






VIA EAST MIDLANDS LIMITED


CONTENTS



Page
Strategic report
 
1 - 3
Directors' report
 
4 - 12
Directors' responsibilities statement
 
13
Independent auditors' report
 
14 - 17
Statement of income and retained earnings
 
18
Statement of financial position
 
19
Statement of cash flows
 
20
Notes to the financial statements
 
21 - 36



VIA EAST MIDLANDS LIMITED

 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

INTRODUCTION
 
Via East Midlands Limited, trading as Via, is a wholly owned subsidiary of Nottinghamshire County Council (NCC). Via has an exclusive Term Service Contract (2016-2031) for the delivery of highways services across the county. As a Teckal company, Via also undertakes third-party work with both public and private-sector organisations.
Via delivers multi-disciplinary design and consultancy services, highway maintenance, construction, signals and lighting, environmental management, fleet services and road safety. In addition to this, Via provides key highway management services to Nottinghamshire County Council including customer liaison, street works coordination and highway asset management.
Via delivers services primarily through our directly employed workforce, supported by local supply-chain partners which enables the organisation to respond flexibly to the needs of NCC. 

BUSINESS REVIEW
 
Throughout 2024-25, Via has continued to deliver a broad portfolio of services to NCC with a focus on customer excellence, quality of output and value for money.  During this time, the five-year extension to Via’s Term Service Contract was agreed with NCC, meaning Via remains contracted for the delivery of the Nottinghamshire highways service until 2031. This decision reflects Via’s continuing role as a trusted delivery partner to the Council. The County Council also continues to recognise Via’s role in supporting its challenging financial position, with colleagues across Via continuing to work collaboratively to ensure that shared efficiencies are realised.  
Via has had a particularly strong year in terms of service delivery, supported by solid financial performance. The delivery of the Capital Maintenance Programme was completed earlier than ever before, and Via was able to deliver additional works in terms of road maintenance and gully cleansing following in-year investment from the Council. As in previous years, poor winter weather posed a challenge for operational teams, but disruption for the travelling public was minimised. Work across the fourteen identified asset types has continued, with greater clarity on budget allocation, performance and operational oversight. This work is monitored through the Asset Management Board, a joint board with NCC, that has responsibility for strategic oversight of asset management. 
Work has also been successfully delivered to Via’s third-party clients, with a continuing focus on delivering works that provide value for Via and NCC as well as the wider region. Via continues to operate in compliance with Section 12 of the Public Contract Regulations 2015, otherwise known as Teckal Compliance. In addition, internal processes were updated to reflect the changes brought about by The Procurement Regulations 2024. Throughout our work, Via continues to monitor local spend in recognition of the role we have in driving value across the wider East Midlands region. 
From a leadership perspective, the makeup of Via’s Senior Leadership Team changed in 2024-25 with the retirement of two long-standing members. Roles and responsibilities were reviewed, and a Commercial Director appointed. In support of continued leadership development, Via has invested in an 18-month leadership programme for SLT members focused on the formation of a high performing team. Via’s Extended Leadership Team (ELT) also commenced a leadership programme designed with the company’s future objectives in mind. This work is designed to increase leadership capacity within the organisation to achieve the aims set out in the Business Plan 2025-28. 
In terms of professional standards, Via maintained accreditation to ISO 45001, ISO 9001, and ISO 14001 along with Safety Scheme in Procurement (SSIP), National Highway Sector Scheme 8 (NHSS) and National Electrical Registration Scheme (NERS). There was one RIDDOR incident in 2024-25 and three lost-time injuries leading to an Accident Frequency Rate (AFR) of 0.09 and a Lost Time Frequency Rate (LTIFR) of 0.26. Work also continued to strengthen Via’s environmental focus, with the release of Environmental Minimum Operating Procedures. 
 

Page 1


VIA EAST MIDLANDS LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

PRINCIPAL RISKS AND UNCERTAINTIES
 
Via proactively manages organisational risk across Via’s activities. This is through appropriate governance, clear roles and responsibilities and an effective risk management framework. This enables oversight of strategic risks through the Via Board and Senior Leadership Team, with responsibility for operational risk cascaded throughout the Via business. 

COMPANY PERFORMANCE
 
Via works with a structured governance framework, through which performance is formally monitored by relevant stakeholders. The diagram below sets out the type of information currently reported. 

img17d3.png

Financial Performance Indicators
Our financial model is underpinned by a clear strategy and plan, and a number of key drivers as set out below:
 • A three-year view
 • A quarter-by-quarter approach
 • Budget and cash flow management
 • A need for solid reserves
 • Organisational right sizing / succession planning, ensuring competence, capacity, and capabilities     to deliver changing NCC priorities and third-party growth.
 • A positive balance sheet / pension position
 • To support the ambitions within NCC’s – The Nottinghamshire Plan 2021-2031

Page 2


VIA EAST MIDLANDS LIMITED


STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

DIRECTORS' STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE COMPANY
 
Via East Midlands Limited Directors are aware of their duty under s.172 of the Companies Act 2006 to act in the way they would consider, in good faith, would be most likely to promote the success and benefit of the company and, in doing so, to have regards (amongst other matters) to:
 • the consequences of decisions in the long term.
 • the interests of the company’s employees.
 • the need to foster the company’s business relationships with suppliers, customers, and others.
 • the impact of the company’s operations on the community and the environment.
 • the desirability of the company maintaining a reputation for high standards of business conduct.


This report was approved by the board and signed on its behalf.



M D Lugg OBE
Director

Date: 6 August 2025

Page 3

1
VIA EAST MIDLANDS LIMITED

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £594,265 (2024: £680,135).

The dividend amount declared in year was £600,000 (2024: £600,000).

DIRECTORS

The directors who served during the year were:

R A Adair (resigned 30 May 2025)
R I Jackson (resigned 14 May 2025)
M D Lugg OBE 
D S Maher 
M J Walker (resigned 27 April 2025)
G Bicknell 

Page 4


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
FUTURE DEVELOPMENTS

Business Plan 2025-28
Following the conclusion of Via’s previous Business Plan (2022-25), Via’s Senior Leadership Team has worked to revise the company’s purpose, vision and mission to ensure ongoing alignment. The Via workforce have also been involved in refreshing Via’s values, ensuring they accurately reflect current company culture and set out what it means to work for Via. This information is laid out in Via’s Business Plan 2025-28.  
Our 
purpose is to partner with NCC to create a healthier prosperous and greener future for everyone. 
Our 
vision is to be one team, recognised as the leading provider of highway services.
Our 
mission is to deliver quality services, providing value to our customers and community, with a focus on sustainability, people and place.  
Our 
values define the way we work together. They encapsulate what it means to work for Via and highlight the beliefs and principles that guide our behaviours. Our values are:
Together, we are
 One Team
 
Care – We care about what we do, the people we work with and the communities we serve. Via is a safe and inclusive environment where everyone is valued. 
Commitment – We are committed and deliver on our promises. We meet the needs of our customers and build trust. 
Community – We are community-focused and take pride in creating value. We make a difference and create positive impact in all we do. 
Via is committed to directly supporting NCC’s vision of delivering a ‘healthy, prosperous and greener future for everyone’, as set out in The Nottinghamshire Plan 2021-31. Via makes a direct contribution to the following shareholder ambitions.

Improving transport and digital connections
Making Nottinghamshire somewhere people love to live, work and visit
Helping people live healthier and more independent lives
Protecting the environment and reducing our carbon footprint
Building skills that help people get good jobs
Strengthening business and creating more good-quality jobs
Attracting investment in infrastructure, the economy and green growth

Over the next few years Via will now be delivering the following business goals.
 
To continue to support Nottinghamshire County Council in the creation of an efficient, safe, and sustainable highway network and environment, with a focus on customer excellence, quality of output and value for money. 
Delivery of Via East Midlands Limited Business Plan 2025-2028, with clear objectives around the five themes of Commerciality, Customer Focus, Governance and Process, People and Responsible Business.
Do business in a safe and responsible way, prioritising the safety and welfare of our staff, supply-chain and the wider public as well as delivering on our targets for social value (addressing local economic, social and environmental benefits).
Continue to develop our Performance Management Framework, meeting the aspirations / objectives of our customers – ensuring upper quartile KPI performance against all business measures underpinned by robust management information that supports enhancement of service delivery.



Page 5


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Continuous development of our Safety, Health, Environmental and Quality Management System focusing on maintaining an accident incident rate of zero, and compliance with our CDM, pre-construction / design and risk management arrangements. Maintain (BSI) third-party accreditations, including ISO 9001:2015 including National Highway Sector Scheme 8 (NHSS8), ISO 14001:2015, ISO 45001:2018 including Safety Schemes in Procurement (SSIP), Electrical Registration Scheme (NERS) Independent Connection Provider, National Inspection Council for Electrical Installation Contractors (NIC-EIC). 
Delivery of a sustainable net profit of £700k respectively over three years, with  annually agreed stretch targets, based on revenues of £98.9m, £70.9m, and  £70.9m. We will continue to maintain a positive cash, debt and WIP position, underpinned by solid business reserves and effective risk and supply chain management. 
 
Social Value
Via’s appointment of a Responsible Business Manager demonstrates the company’s ongoing commitment to Social Value. In support of The Nottinghamshire Plan 2021-31, and as a wholly owned subsidiary of the Council, Via recognises its role in adding wider social and economic value to the region. To reflect this, Responsible Business is one of the key themes set out in the Via Business Plan 2025-28. 
Over the coming months, Via’s focus will be on community engagement, environmental sustainability, health, safety, and wellbeing. Driving social value activity and reporting through Via’s extensive supply-chain will also be a key focus. Social value will play an increasingly prominent role in contracts let by Via, ensuring all works delivered on our behalf make a positive contribution to the region. 
To monitor performance and attribute a financial value to social value activity, Via uses the Social Value Themes, Outcomes and Measures (TOMs). The is a national framework that provides a standardised, consistent methodology to completing social value.
Employee Engagement
Over the coming year, Via will work to embed the refreshed company values. This includes incorporating values into decision-making, behavioural expectations and through the Via supply-chain. The entire Via workforce had the opportunity to contribute to the refreshed Via values, and the SLT recognises the need for these to play a key role in employee engagement activity moving forward. 
Via also remains committed to a broad variety of employee engagement activities, working to ensure staff are informed and engaged in the company direction. The increased focus on internal frequency and consistent internal communications will be maintained, and a revised look at monitoring employee engagement levels will be developed. 

Supply-Chain Engagement 
Via is a Public Contracting Authority in its own right, procuring a range of highways design, construction, maintenance, and infrastructure services on behalf of NCC. In line with NCC ambitions, Via will continue to deliver a mixed economy approach to procurement, underpinned by a commitment to local spend and employment. This reflects the commitment to a local supply chain, particularly aimed at small and medium sized enterprises (SMEs) across the EMCCA region. 
In line with our commitment to quality, Via will continue to place a strong emphasis on assessing and evaluating tender submissions based on quality criteria alongside an increased focus on social value.  This approach ensures that we deliver high-quality services to NCC and our wider customer base. 

Business Growth 
Via has the capability to provide third-party clients with multi-disciplinary design and construction services, highway maintenance, electrical installation and maintenance, environmental consultancy, road safety advice, fleet services and in-house training. The core works from NCC remain Via’s platform for third-party growth, and Via’s geographical area of operation will primarily focus upon the footprint of the East Midlands.
 

Page 6


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

In terms of third-party works, Via will stay rooted to the Public Sector in its broadest sense, not precluding Private Sector opportunities. However, in all cases ensuring due diligence is applied when selecting the right contracting partners for the business.
Via will continue to focus on six equal priorities for growth as set out below:
 
Maximising all capital and revenue streams from NCC
Maximising capital and revenue streams from Arc Property Services Partnership Ltd
Maximising capital and revenue streams from other local authorities and the wider public sector across the East Midlands
Maximising reciprocal work from our delivery partners.
Optimising the efficient recovery of third-party charges on behalf of NCC to enable maximum reinvestment into service delivery.
Continue to work with NCC to monitor, identify, and bid against new and emerging funding opportunities at a national and local level.
 
Via’s Commercial Team continues to grow in capacity to support this activity, with a focus on embedding effective commercial controls and driving efficiency. This continuous improvement activity is reflected in the Commercial Theme of the Via Business Plan. 
 

Page 7


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
STREAMLINED ENERGY AND CARBON REPORTING (SECR)

Under the Companies (Directors’ Report) and Limited Liability Partnership (Energy and Carbon) Regulation 2018, Via is required to disclose its UK energy use and associated greenhouse gas (GHG) emissions. This section covers the energy usage and associated GHG emissions relating to the consumption of gas, electricity and fuel for transport purposes as required by the Regulations.

Data is included for the period 1st April 2024 to 31st March 2025.  This is the company’s sixth reporting year and total GHG emissions per unit turnover of revenue (t CO2e / £million) has been chosen to measure the intensity ratio as this is a common business metric for our industry sector.

The overall data for the 2024/2025 reporting period shows a 7.3% reduction in absolute emissions and a 25.6% decrease in GHG emissions per unit turnover of revenue in comparison to the previous year 2023/2024. 

Energy Consumption

Overall energy consumption has decreased by 11% from the previous reporting year to 1,366 MWh.  However, carbon emissions from operation of our buildings have increased by 5% from 188.6 T CO2e to 198.9 T CO2e.  This is due to inclusion of gas consumption data from our Sutton depot that was not available for the 2023/24 SECR report.  

Overall carbon intensity for our building operations has decreased from 2.7 T CO2e / £1m to 2.2 T CO2e / £1m, reduction of 18.6%.

Transport

Via commenced the transition of its vehicle fleet from diesel to HVO fuel during 2024/25.  This has had a significant impact on our diesel consumption and carbon emissions.  Via’s transport emissions have decreased by 38% compared to 2023/24, down from 1,374.4 T CO2e to 852.8 T CO2e.

Business travel in employee-owned / hire vehicles for which employees are reimbursed following claims for business mileage has been accounted for in the Transport emissions category.  Emissions data for staff travelling by public transport has not been included as the data available via our systems does not allow accurate quantification of the emissions footprint.  However, as Via’s emissions are predominantly from its fleet of maintenance vans and heavy goods vehicles, public transport emissions are insignificant.

Voluntary Reporting

Via collects carbon data on a number of other emissions sources, including:

 • Electricity transmission and distribution losses
 • Well to tank emissions for electricity generation and distribution
 • Well to tank emissions for fuels used in our vehicles
 • Potable water 
 • Waste generation, including wastewater
 • Homeworking.

2024 / 25 is the first year that these data have been included in our SECR report, and therefore percentage changes against previous years are not provided.  

Page 8


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
img34ab.png

Carbon Reduction Initiatives

Via has taken the following direct actions to reduce its carbon footprint during 2024/25:

Transitioned our vehicle fleet from standard diesel to HVO.
Renewed our electricity and gas supply contracts to continue using REGO-backed zero carbon electricity and RGGO-backed green gas where Via has the ability to procure its own energy supplies.

As Via continues to develop its systems and processes for capturing data, reporting is becoming more accurate and recommendations for improvement are being put forward.

A key area for Via is to support its supply chain in reducing their carbon emissions on projects, which in turn will further support Via in reducing its own emissions.  As a result, Via hosted a Carbon Reduction Supply Chain Forum for a number of its key suppliers earlier in the year.

Methodology and Approach

The UK Government Environmental Reporting Guidelines have been followed in preparation of this report.  We have used DEFRA GHG Conversion Factors 2024 for all carbon calculations. The operational control consolidation approach has been used to account for GHG emissions for the company’s operational activities. 

The calculations cover the following emission types:
Energy Consumption
• UK Electricity
• UK Gas
• UK Biomass
• UK HVO
• UK Diesel
• UK Petrol
• UK Gas Oil

Transport (Inc Business Travel reimbursed following claims for business mileage)
• UK Electricity
• UK HVO
• UK Diesel
• UK Petrol
• UK Gas Oil
• UK LPG







 
Page 9


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Voluntary emissions
• Electricity transmission and distribution losses
• Well to tank emissions for electricity generation and distribution
• Well to tank emissions for fuels used in our vehicles
• Potable water 
• Waste generation, including wastewater
• Homeworking

Not reported
• Business travel on public transport
• Employee commuting
• Purchased goods and service

Annual Greenhouse Gas Emissions Data


img6fe5.png
Page 10


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
img25e0.png


** - 2023/24 waste and recycling data was reported as a combined figure.  These data are reported separately for 2024/25.

The figures in italic are different from last years published in the SECR report.  These have been adjusted as part of the external verification of the data from a third party.

This report has been checked by an independent verifier of our data.

Page 11


VIA EAST MIDLANDS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the company since the year end.

AUDITORS

The auditorsBishop Fleming LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 






M D Lugg OBE
Director

Date: 6 August 2025

Bilsthorpe Depot
Bilsthorpe Business Park
Eakring Road
Bilsthorpe
Newark
NG22 8ST

Page 12


VIA EAST MIDLANDS LIMITED

 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

The directors are responsible for preparing the Strategic report, the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 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 2006They 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.

Page 13


VIA EAST MIDLANDS LIMITED

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS LIMITED
 
OPINION


We have audited the financial statements of Via East Midlands Limited (the 'company') for the year ended 31 March 2025, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of cash flows and the related notes, including a summary of significant accounting policiesThe 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 March 2025 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 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.


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 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 ReportOur 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.


Page 14


VIA EAST MIDLANDS LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS LIMITED (CONTINUED)

OPINION 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 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.


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 Directors' report.


We have nothing to report in respect of the following matters in relation to which 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 Directors' responsibilities statement set out on page 13, 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 is 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.


Page 15


VIA EAST MIDLANDS LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS LIMITED (CONTINUED)

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 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 financial performance;
We have considered the results of enquiries with management and the directors in relation to their own identification and assessment of the risks of irregularities within the entity.
We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation; 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 have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. 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 have 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 UK 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 avoid a material penalty. These include highways legislation, data protection legislation, health and safety regulations, environmental regulations, employment law.
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;
Enquiring of management in relation to actual and potential claims or litigation;
Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
Reviewing board meeting minutes;
Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around the year-end cut off including the agreement of year end balances with Nottinghamshire County Council; and
In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in accounting estimates are indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.
 
Page 16


VIA EAST MIDLANDS LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS LIMITED (CONTINUED)

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.


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 2006Our 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.






Nathan Coughlin FCA (Senior statutory auditor)
for and on behalf of
Bishop Fleming LLP
Chartered Accountants
Statutory Auditors
Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
PL4 0BN

19 August 2025
Page 17


VIA EAST MIDLANDS LIMITED

 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Note
£
£

  

Turnover
 4 
87,684,370
70,773,489

Cost of sales
  
(79,408,247)
(63,673,570)

Gross profit
  
8,276,123
7,099,919

Administrative expenses
  
(8,552,917)
(7,094,334)

Other operating income
 5 
855,374
607,768

Operating profit
 6 
578,580
613,353

Interest receivable and similar income
 10 
113,197
116,464

Interest payable and similar expenses
 11 
(1,692)
(14,651)

Profit before tax
  
690,085
715,166

Tax on profit
 12 
(95,820)
(35,031)

Profit after tax
  
594,265
680,135

  

  

Retained earnings at the beginning of the year
  
2,323,643
2,243,508

Profit for the year
  
594,265
680,135

Dividends declared
 13 
(600,000)
(600,000)

Retained earnings at the end of the year
  
2,317,908
2,323,643

There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of income and retained earnings.

The notes on pages 21 to 36 form part of these financial statements.

Page 18


VIA EAST MIDLANDS LIMITED
REGISTERED NUMBER:09903246

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2025
2024
2024
Note
£
£
£
£

Fixed assets
  

Intangible assets
 14 
25,583
-

Tangible assets
 15 
4,244,186
4,130,036

  
4,269,769
4,130,036

Current assets
  

Stocks
 16 
714,827
1,062,819

Debtors: amounts falling due within one year
 17 
13,785,243
12,856,321

Cash at bank and in hand
 18 
810,212
5,206,396

  
15,310,282
19,125,536

Creditors: amounts falling due within one year
 19 
(13,360,486)
(17,028,740)

Net current assets
  
 
 
1,949,796
 
 
2,096,796

Total assets less current liabilities
  
6,219,565
6,226,832

Creditors: amounts falling due after more than one year
 20 
(2,273,272)
(2,359,556)

Provisions for liabilities
  

Other provisions
 21 
(1,628,285)
(1,543,533)

Net assets
  
2,318,008
2,323,743


Capital and reserves
  

Called up share capital 
 22 
100
100

Profit and loss account
 23 
2,317,908
2,323,643

  
2,318,008
2,323,743


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





M D Lugg OBE
Director

Date: 6 August 2025

The notes on pages 21 to 36 form part of these financial statements.

Page 19


VIA EAST MIDLANDS LIMITED


STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

Cash flows from operating activities

Profit for the financial year
594,265
680,135

Adjustments for:

Amortisation of intangible assets
5,117
-

Depreciation of tangible assets
1,362,497
1,453,247

Government grants
(855,374)
(607,768)

Interest paid
1,692
14,651

Interest received
(113,197)
(116,464)

Taxation charge
95,820
35,031

Decrease in stocks
347,992
145,149

Decrease/(increase) in debtors
471,204
(1,299,630)

(Increase) in amounts owed by groups
(1,400,126)
(3,213,651)

(Decrease)/increase in creditors
(634,737)
2,277,107

(Decrease)/increase in amounts owed to groups
(2,967,858)
3,157,421

Increase in provisions
84,752
54,832

Corporation tax (paid)
(113,348)
(120,497)

Net cash generated from operating activities

(3,121,301)
2,459,563


Cash flows from investing activities

Purchase of intangible fixed assets
(30,700)
-

Purchase of tangible fixed assets
(1,476,647)
(2,199,263)

Government grants received
720,959
1,285,937

Interest received
113,197
116,464

Net cash from investing activities

(673,191)
(796,862)

Cash flows from financing activities

Dividends paid
(600,000)
(600,000)

Interest paid
(1,692)
(14,651)

Net cash used in financing activities
(601,692)
(614,651)

Net (decrease)/increase in cash and cash equivalents
(4,396,184)
1,048,050

Cash and cash equivalents at beginning of year
5,206,396
4,158,346

Cash and cash equivalents at the end of year
810,212
5,206,396


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
810,212
5,206,396


Page 20


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


GENERAL INFORMATION

The company (registered number 09903246) is a private company, limited by shares and registered in England and Wales. The registered office address is Bilsthorpe Depot Bilsthorpe, Business Park, Eakring Road, Bilsthorpe, Newark, NG22 8ST.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have considered the future profitability of the company and forecast positive cashflows for the future after taking account of reasonable possible changes in trading performance. The company has secured the continued on-going support from Nottinghamshire County Council. 
As such the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, other sales taxes and sales within the company. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably;
and the costs incurred and the costs to complete the contract can be measured reliably.

Page 21


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

  
2.4

LONG-TERM CONTRACTS

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 prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.
Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. 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 year in which they are first foreseen.

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.7

INTEREST INCOME

Interest income is recognised in the Statement of income and retained earnings in the year in which it is receivable.

 
2.8

FINANCE COSTS

Interest expenditure is recognised in the Statement of income and retained earnings in the year in which it is payable.

 
2.9

PENSIONS

The company participates in the Local Government Pension Scheme, a defined benefit scheme managed by Nottinghamshire County Council. The assets of the scheme are invested independently of the finances of the company. Contributions are made to the scheme in accordance with the recommendations of the independent actuary in respect of current and future service. 
On transfer of staff to Via East Midlands, Nottinghamshire County Council have retained responsibility for the deficit of the Local Government Pension Scheme that relates to staff transferred. As a result, the company has not recognised any pension liability and the pension scheme is therefore accounted for as a defined contribution scheme.
The company also participates in a defined contribution pension scheme. Payments to this defined contribution scheme are charged as an expense when they fall due.

Page 22


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.11

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

 The estimated useful lives range as follows:

Computer software
-
3
years

 
2.12

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 23


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)


2.12
TANGIBLE FIXED ASSETS (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:

Freehold property
-
10 years
Plant and machinery
-
1 to 10 years
Computer equipment
-
3 to 5 years

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.

 
2.13

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

DEBTORS

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.

 
2.15

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

 
2.16

CREDITORS

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.

Page 24


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.17

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

FINANCIAL INSTRUMENTS

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, and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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.

 
2.19

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 25


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:
Provisions for remedial works are recognised by the company using judgement through the review of major projects and likely remedial action that will be required to resolve matters that have been identified.
Provisions for possible professional indemnity claims that are uninsurable and potential professional indemnity excesses are recognised by the company at a level based on business experience.
A vehicles provision has been made to cover works required to ensure vehicles can be returned to operational status, the company has had to estimate these costs.
Valuation of incomplete contracts at the year-end: contracts are valued (both in terms of cost and revenue) by the in house team based on their experience in the industry and their knowledge of the contract in question.


4.


TURNOVER

The whole of the turnover is attributable to highways maintenance and facilities management.

All turnover arose within the United Kingdom.

Page 26


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


OTHER OPERATING INCOME

2025
2024
£
£

Release of government capital grants
855,374
607,768


The company has received government grants to fund the expenditure of tangible fixed assets.


6.


OPERATING PROFIT

The operating profit is stated after charging:

2025
2024
£
£

Depreciation of tangible fixed assets
1,362,497
1,453,246

Amortisation of intangible fixed assets
5,117
-

Other operating lease rentals
97,745
103,070

1,465,359
1,556,316


7.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors and their associates:


2025
2024
£
£

Fees payable to the company's auditors and their associates for the audit of the company's financial statements
34,500
33,500

Fees payable to the company's auditors and their associates in respect of:

Taxation compliance services
3,025
2,950

Page 27


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


EMPLOYEES

Staff costs, including directors' remuneration, were as follows:


2025
2024
£
£

Wages and salaries
21,818,559
20,406,792

Social security costs
2,196,692
2,001,046

Cost of defined contribution and benefit schemes
2,684,430
2,630,573

26,699,681
25,038,411


The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Operations
270
261



Pre-Construction
160
160



Commercial
25
18



Strategy & Services
206
221



Corporate
16
20



Finance and Business Services
47
31

724
711

The change in employee categories is due to the change in operational directors and subsequent restructures of divisions during the financial year.


9.


DIRECTORS' REMUNERATION

2025
2024
£
£

Directors' emoluments
92,263
70,000

Company contributions to defined contribution pension schemes
5,375
4,200

Amounts paid to third parties in respect of directors' services
114,180
114,180

211,818
188,380


During the year retirement benefits were accruing to 2 directors (2024: 1) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £103,000 (2024: £102,166).

The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £11,645 (2024: £12,014).

Page 28


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


INTEREST RECEIVABLE

2025
2024
£
£


Other interest receivable
113,197
116,464


11.


INTEREST PAYABLE AND SIMILAR EXPENSES

2025
2024
£
£


Other loan interest payable
1,692
14,651


12.


TAXATION


2025
2024
£
£

CORPORATION TAX


Current tax on profits for the year
97,945
44,347

Adjustments in respect of previous periods
(2,125)
(9,316)


95,820
35,031


TOTAL CURRENT TAX
95,820
35,031
Page 29


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
12.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25% (2024: 25%). The differences are explained below:

2025
2024
£
£


Profit on ordinary activities before tax
690,085
715,166


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%)
172,521
178,792

EFFECTS OF:


Movement in deferred tax not recognised
23,595
(20,659)

Fixed asset differences
3
(3)

(Income)/expenses not taxable for tax purposes
(98,174)
(33,521)

Adjustment to tax charge in respect of prior periods
(2,125)
(9,316)

Changes in provisions leading to an Increase/(Decrease) in the tax charge
-
(80,262)

TOTAL TAX CHARGE FOR THE YEAR
95,820
35,031


13.


DIVIDENDS

2025
2024
£
£


Dividends declared
600,000
600,000

Page 30


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

14.


INTANGIBLE ASSETS




Computer software

£



COST


Additions
30,700



At 31 March 2025

30,700



AMORTISATION


Charge for the year on owned assets
5,117



At 31 March 2025

5,117



NET BOOK VALUE



At 31 March 2025
25,583



At 31 March 2024
-


Page 31


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

15.


TANGIBLE FIXED ASSETS





Freehold property
Plant and machinery
Computer equipment
Total

£
£
£
£



COST


At 1 April 2024
243,175
9,932,493
653,385
10,829,053


Additions
-
1,027,940
448,707
1,476,647


Disposals
-
(1,856,653)
-
(1,856,653)



At 31 March 2025

243,175
9,103,780
1,102,092
10,449,047



DEPRECIATION


At 1 April 2024
97,269
6,236,248
365,500
6,699,017


Charge for the year on owned assets
24,318
1,067,932
270,247
1,362,497


Disposals
-
(1,856,653)
-
(1,856,653)



At 31 March 2025

121,587
5,447,527
635,747
6,204,861



NET BOOK VALUE



At 31 March 2025
121,588
3,656,253
466,345
4,244,186



At 31 March 2024
145,906
3,696,245
287,885
4,130,036


16.


STOCKS

2025
2024
£
£

Finished goods and goods for resale
714,827
1,062,819


Page 32


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

17.


DEBTORS

2025
2024
£
£


Trade debtors
1,246,779
1,359,313

Amounts owed by group undertakings
11,319,317
9,919,191

Other debtors
78,136
94,020

Prepayments and accrued income
1,141,011
1,483,797

13,785,243
12,856,321



18.


CASH AND CASH EQUIVALENTS

2025
2024
£
£

Cash at bank and in hand
810,212
5,206,396



19.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025
2024
£
£

Trade creditors
5,976,567
5,884,103

Amounts owed to group undertakings
2,251,308
5,219,166

Corporation tax
95,820
115,293

Other taxation and social security
1,416,559
1,247,648

Other creditors
335,896
317,089

Accruals and deferred income
3,284,336
4,245,441

13,360,486
17,028,740



20.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025
2024
£
£

Accruals and deferred income
2,273,272
2,359,556


Page 33


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

21.


PROVISIONS





Uninsured and Remedial Works
Tax Provisions
Operational Provisions
Total

£
£
£
£





At 1 April 2024
839,284
44,249
660,000
1,543,533


Charged to profit or loss
95,425
(44,249)
33,576
84,752



AT 31 MARCH 2025
934,709
-
693,576
1,628,285

Provisions for possible professional indemnity claims that are uninsurable and potential professional indemnity excesses are recognised by the company at a level based on business experience (year-end balance: £176,356). Provisions for remedial works are recognised by the company using the company's record of requiring remedial action (year-end balance: £758,353).
A tax provision has been set up to cover a potential Construction Industry Scheme (CIS) tax liability. The CIS provision was fully released this year.
Operational provisions have been made to cover works required to ensure vehicles can be returned to operational status, maintenance works required at the Bilsthorpe depot, uninvoiced water charges in respect of the Bilsthorpe depot, and rates payments at the Ashfield depot.


22.


SHARE CAPITAL

2025
2024
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2024: 100) ordinary shares of £1.00 each
100
100



23.


RESERVES

Profit and loss account

Profit and loss account comprises all current and prior period accumulated profits and losses, after declared dividends.

24.


ANALYSIS OF NET DEBT




At 1 April 2024
Cash flows
At 31 March 2025
£

£

£

Cash at bank and in hand

5,206,396

(4,396,184)

810,212



5,206,396
(4,396,184)
810,212

Page 34


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

25.


PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £640,626 (2024: £542,654). Contributions totalling £84,163 (2024: £76,667) were payable to the fund at the reporting date and are included in creditors.

Some employees of the company are members of the Nottinghamshire County Council LGPS, a multi-employer scheme administered by  Nottinghamshire County Council under the regulations governing the Local Government Pension Scheme, a defined benefit scheme. Triennial actuarial valuations are performed by a qualified actuary using the “projected unit” method. The last formal valuation was undertaken at 31 March 2022.
Contributions
The employers’ contributions to the Local Government Pension Scheme by the Company for the period to 31 March 2025 were £2,043,804 (2024: £2,087,919). Contributions totalling £225,571 (2024: £207,579) were payable to the fund at the reporting date and are included in creditors. The employer’s contribution rate was fixed at 20.9% of pensionable pay, and the expected level of employer contributions for the year ended 31 March 2026 is £1,974,252 (£2,153,519 in 2024/25).


26.


COMMITMENTS UNDER OPERATING LEASES

At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
81,770
97,745

Later than 1 year and not later than 5 years
40,885
122,655

122,655
220,400

Page 35


VIA EAST MIDLANDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

27.


RELATED PARTY TRANSACTIONS



2025
2024
£
£

Sales
Nottinghamshire County Council
76,541,018
63,704,174
Arc Property Services Partnership Ltd
1,012,987
739,742
Purchases
Arc Property Services Partnership Ltd
653,772
212,672
Nottinghamshire County Council
712,416
1,824,961
SCAPE Group Limited
156,254
113,580
Debtors at year end
Arc Property Services Partnership Ltd
136,263
39,185
Nottinghamshire County Council
11,361,814
9,919,191
Creditors at year end
Arc Property Services Partnership Ltd
39,583
53,778
Nottinghamshire County Council
2,168,437
5,219,166

Arc Property Services Partnership Ltd is related to Via East Midlands Limited due to them being a joint venture of Nottinghamshire County Council, resulting in both companies being under common control, and also having 4 directors in common with Via East Midlands Limited.
SCAPE Group Limited is related to Via East Midlands Limited due to them being a subsidiary of Nottinghamshire County Council, resulting in both companies being under common control, and also having 1 director in common with Via East Midlands 

Key Management Personnel are limited to directors, transactions are as disclosed in Note 9.


28.


CONTROLLING PARTY

The company's parent is Nottinghamshire County Council (registered office: County Hall, West Bridgford, Nottingham, NG2 7QP). These financial statements are consolidated into the financial statements of Nottinghamshire County Council as at 31 March 2025 and these financial statements may be obtained from Nottinghamshire County Council's website.

 
Page 36