REGISTERED NUMBER: 10264076 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VINCI CONSTRUCTION GEOINFRASTRUCTURE UK

LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

B P Denizot

Ms N H M M Fleuriot

S Y S Riot

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

10264076 (England and Wales)

AUDITORS:

Orcom Civvals Audit Limited

Chartered Accountants and

Statutory Auditors

50 Seymour Street

London

W1H 7JG

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

PRINCIPAL ACTIVITY

Other specialised construction activities not elsewhere classified.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

B P Denizot

Ms N H M M Fleuriot

S Y S Riot

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Orcom Civvals Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S Y S Riot - Director

14 August 2025

Opinion

We have audited the financial statements of Vinci Construction Geoinfrastructure Uk Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and taxation legislation.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals and reviewing account estimates for biases.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities,

including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

Phillip Jones (FCA) (Senior Statutory Auditor)

for and on behalf of Orcom Civvals Audit Limited

Chartered Accountants and

Statutory Auditors

50 Seymour Street

London

W1H 7JG

14 August 2025

TURNOVER

3

18,612,188

20,696,477

Cost of sales

(18,596,930

)

(20,746,406

)

GROSS PROFIT/(LOSS)

15,258

(49,929

)

Administrative expenses

(18,774

)

116,204

OPERATING (LOSS)/PROFIT

5

(3,516

)

66,275

Interest receivable and similar income

96,981

251,008

93,465

317,283

Interest payable and similar expenses

6

(318,250

)

(447,132

)

LOSS BEFORE TAXATION

(224,785

)

(129,849

)

Tax on loss

7

-

-

LOSS FOR THE FINANCIAL YEAR

(224,785

)

(129,849

)

LOSS FOR THE YEAR

(224,785

)

(129,849

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(224,785

)

(129,849

)

FIXED ASSETS

Tangible assets

8

23,098

52,743

CURRENT ASSETS

Debtors

9

4,384,534

6,945,768

CREDITORS

Amounts falling due within one year

10

(7,063,064

)

(9,429,158

)

NET CURRENT LIABILITIES

(2,678,530

)

(2,483,390

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,655,432

)

(2,430,647

)

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

(2,656,432

)

(2,431,647

)

SHAREHOLDERS' FUNDS

(2,655,432

)

(2,430,647

)

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2025 and were signed on its behalf by:

S Y S Riot - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1,000

(2,301,798

)

(2,300,798

)

Changes in equity

Total comprehensive income

-

(129,849

)

(129,849

)

Balance at 31 December 2023

1,000

(2,431,647

)

(2,430,647

)

Changes in equity

Total comprehensive income

-

(224,785

)

(224,785

)

Balance at 31 December 2024

1,000

(2,656,432

)

(2,655,432

)

Cash flows from operating activities

Cash generated from operations

1

222,788

227,351

Interest paid

(318,250

)

(447,131

)

Net cash from operating activities

(95,462

)

(219,780

)

Cash flows from investing activities

Purchase of tangible fixed assets

(1,519

)

(31,228

)

Interest received

96,981

251,008

Net cash from investing activities

95,462

219,780

Increase in cash and cash equivalents

-

-

Cash and cash equivalents at beginning of year

-

-

Cash and cash equivalents at end of year

-

-

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

2024

2023

£

£

Loss before taxation

(224,785

)

(129,849

)

Depreciation charges

31,163

57,654

Finance costs

318,250

447,132

Finance income

(96,981

)

(251,008

)

27,647

123,929

Decrease in trade and other debtors

2,561,238

5,233,444

Decrease in trade and other creditors

(2,366,097

)

(5,130,022

)

Cash generated from operations

222,788

227,351

1.	STATUTORY INFORMATION

Vinci Construction Geoinfrastructure Uk 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 Company 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.

Tangible fixed assets

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.

Office equipment - 33%

Computer equipment - 33%

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.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the Company has net liabilities of £2,655,432 (2023 - £2,430,647) at the year end. The parent company has agreed to provide financial support to the Company to the extent necessary to enable the Company to meet its obligations as they fall due for at least 12 months from the date of these financial statements.

The directors therefore consider that the going concern basis is appropriate to the preparation of these financial statements.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024

2023

£

£

Engineering services

18,612,188

20,696,477

18,612,188

20,696,477

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

18,612,188

20,696,477

18,612,188

20,696,477

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

12,291,786

13,460,749

Social security costs

2,978,809

3,531,250

Other pension costs

545,680

575,897

15,816,275

17,567,896

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

2024

2023

Engineers

128

145

Directors

3

3

131

148

2024

2023

£

£

Directors' remuneration

-

-

5.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

31,164

52,433

Foreign exchange differences

18,774

(116,204

)

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Intercompany Interest

318,250

447,132

7.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

8.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 January 2024

197,753

2,213

199,966

Additions

1,519

-

1,519

Disposals

(4,137

)

-

(4,137

)

At 31 December 2024

195,135

2,213

197,348

DEPRECIATION

At 1 January 2024

145,010

2,213

147,223

Charge for year

31,164

-

31,164

Eliminated on disposal

(4,137

)

-

(4,137

)

At 31 December 2024

172,037

2,213

174,250

NET BOOK VALUE

At 31 December 2024

23,098

-

23,098

At 31 December 2023

52,743

-

52,743

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

168,740

63,086

Amounts owed by group undertakings

601,703

1,181,493

Other debtors

73,660

225,649

Prepayments and accrued income

3,540,431

5,475,540

4,384,534

6,945,768

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

376,424

119,470

Amounts owed to group undertakings

3,938,712

6,028,847

Social security and other taxes

1,358,592

1,942,972

VAT

434,600

427,340

Other creditors

1,134

398

Accruals and deferred income

953,602

910,131

7,063,064

9,429,158

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary Shares

1

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1 January 2024

(2,431,647

)

Deficit for the year

(224,785

)

At 31 December 2024

(2,656,432

)

13.	RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available under FRS 102 from the disclosures relating to transactions with other group companies.

14.	CONTROLLING PARTY

The immediate parent undertaking is Vinci Construction Terrassement Grands Projets. The ultimate parent undertaking and controlling party is Vinci SA, a company registered in France. Vinci SA is the only group for which these results have been consolidated. Copies of these group accounts are publicly available on their website www.vinci.com.