Terrain Surveys Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Terrain Surveys Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05114221 . The registered office is Bridge Chambers, 28a High Street, Welwyn, Herts, AL6 9EQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements contain information about Terrain Surveys Limited as an individual company and do not contain consolidated financial information as parent of a group. The company is exempt under section 399(2A) of Companies Act, 2006 from the requirements to prepare the consolidated financial statments.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	over 5 years
Plant & Machinery	over 4 years
Motor Vehicles	over 4 years
Fixtures & Fittings	over 5 years
Computer Equipment	over 4 years

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Terrain Surveys Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is imparied arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial assets which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. 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.

2.9. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 29 (2024: 28)

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Terrain Surveys Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	2,625	460,822	91,410	8,161
Additions	-	49,549	7,000	-

As at 31 March 2025	2,625	510,371	98,410	8,161

Depreciation
As at 1 April 2024	2,625	320,663	44,169	5,962
Provided during the period	-	61,166	19,011	1,518

As at 31 March 2025	2,625	381,829	63,180	7,480

Net Book Value
As at 31 March 2025	-	128,542	35,230	681

As at 1 April 2024	-	140,159	47,241	2,199


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	110,971	673,989
Additions	-	56,549

As at 31 March 2025	110,971	730,538

Depreciation
As at 1 April 2024	98,512	471,931
Provided during the period	5,988	87,683

As at 31 March 2025	104,500	559,614

Net Book Value
As at 31 March 2025	6,471	170,924

As at 1 April 2024	12,459	202,058

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	1,909

As at 31 March 2025	1,909

Provision
As at 1 April 2024	-

As at 31 March 2025	-

...CONTINUED

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Terrain Surveys Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	1,909

As at 1 April 2024	1,909

6. Stocks

	2025	2024
	£	£
Stock	3,611	6,743

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	239,342	324,037
Other debtors	104,957	112,124

	344,299	436,161
Due after more than one year
Other debtors	146,960	152,501

	491,259	588,662

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,290	25,584
Trade creditors	90,561	74,430
Bank loans and overdrafts	21,849	48,964
Other creditors	58,840	64,496
Taxation and social security	148,051	164,580

	332,591	378,054

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	14,217
Bank loans	9,718	13,348
Other creditors	371,216	341,181

	380,934	368,746

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	13,290	25,584
Later than one year and not later than five years	-	14,217

	13,290	39,801

	13,290	39,801

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Terrain Surveys Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	636	766

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		170,924		202,058
Investments	5		1,909		1,909

			172,833		203,967
CURRENT ASSETS
Stocks	6	3,611		6,743
Debtors	7	491,259		588,662
Cash at bank and in hand		235,438		411,582

		730,308		1,006,987
Creditors: Amounts Falling Due Within One Year	8	(332,591 )		(378,054 )

NET CURRENT ASSETS (LIABILITIES)			397,717		628,933

TOTAL ASSETS LESS CURRENT LIABILITIES			570,550		832,900

Creditors: Amounts Falling Due After More Than One Year	9		(380,934 )		(368,746 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(32,475 )		(38,391 )

NET ASSETS			157,141		425,763

CAPITAL AND RESERVES
Called up share capital	11		636		766
Share premium account			9,850		9,850
Capital redemption reserve			130		-
Profit and Loss Account			146,525		415,147

SHAREHOLDERS' FUNDS			157,141		425,763