REGISTERED NUMBER: 12970657 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VINCI CONSTRUCTION GEOINFRASTRUCTURE

PLANT AND FLEET SERVICES LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

Ms N H M M Fleuriot

S Y S Riot

B P A Denizot

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

12970657 (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.

DIRECTORS

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

Ms N H M M Fleuriot

S Y S Riot

B P A Denizot

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.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Y S Riot - Director

4 September 2025

Opinion

We have audited the financial statements of Vinci Construction Geoinfrastructure Plant And Fleet Services Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and 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 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 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; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

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

4 September 2025

TURNOVER

5,652,749

6,426,008

Cost of sales

4,207,866

4,345,580

GROSS PROFIT

1,444,883

2,080,428

Administrative expenses

7,192

30,012

OPERATING PROFIT

4

1,437,691

2,050,416

Interest receivable and similar income

1,381

49

1,439,072

2,050,465

Interest payable and similar expenses

503,795

306,540

PROFIT BEFORE TAXATION

935,277

1,743,925

Tax on profit

5

130,030

434,217

PROFIT FOR THE FINANCIAL YEAR

805,247

1,309,708

FIXED ASSETS

Tangible assets

6

13,260,813

10,325,928

CURRENT ASSETS

Debtors

7

3,284,796

2,059,042

CREDITORS

Amounts falling due within one year

8

12,421,658

9,206,853

NET CURRENT LIABILITIES

(9,136,862

)

(7,147,811

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,123,951

3,178,117

PROVISIONS FOR LIABILITIES

9

459,614

319,027

NET ASSETS

3,664,337

2,859,090

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

3,663,337

2,858,090

3,664,337

2,859,090

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 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

-

1,548,382

1,548,382

Changes in equity

Issue of share capital

1,000

-

1,000

Total comprehensive income

-

1,309,708

1,309,708

Balance at 31 December 2023

1,000

2,858,090

2,859,090

Changes in equity

Total comprehensive income

-

805,247

805,247

Balance at 31 December 2024

1,000

3,663,337

3,664,337

1.	STATUTORY INFORMATION

Vinci Construction Geoinfrastructure Plant And Fleet Services 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.

Effective 4 February 2025, the company formerly known as Vinci Construction Terrassement Plant and Fleet Services Limited changed its name to Vinci Construction Geoinfrastructure Plant and Fleet Services Limited.

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" including the provisions of Section 1A "Small Entities" 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

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.

Depreciation is charged so as to allocate the cost of assets over their estimated useful lives, on a straight line basis.

Plant and machinery - 20%

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

2,919,391

1,710,439

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

(10,557

)

115,190

Deferred tax

140,587

319,027

Tax on profit

130,030

434,217

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

935,277

1,743,925

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

233,819

410,171

Effects of:

Expenses not deductible for tax purposes

729,848

5,159

Capital allowances in excess of depreciation

(876,837

)

(300,140

)

Utilisation of tax losses

(41,475

)

-

Adjustments to tax charge in respect of previous periods

(62,314

)

-

Deferred Tax

146,989

319,027

Total tax charge

130,030

434,217

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

12,036,367

Additions

5,854,276

At 31 December 2024

17,890,643

DEPRECIATION

At 1 January 2024

1,710,439

Charge for year

2,919,391

At 31 December 2024

4,629,830

NET BOOK VALUE

At 31 December 2024

13,260,813

At 31 December 2023

10,325,928

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

774,964

2,059,042

Other debtors

473,553

-

VAT

426,248

-

Prepayments and accrued income

1,610,031

-

3,284,796

2,059,042

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

543,842

Tax

(10,558

)

115,190

Social security and other taxes

2,327

-

VAT

-

178,687

Other creditors

571,415

21,924

Amounts owed to group entities

11,700,266

7,799,394

Accruals and deferred income

158,208

547,816

12,421,658

9,206,853

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

459,614

319,027

Deferred

tax

£

Balance at 1 January 2024

319,027

Charge to Income Statement during year

140,587

Balance at 31 December 2024

459,614

10.	RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption available under FR102 from the disclosures relating to transactions with other group companies.

In the year, Balfour Beatty Vinci JV HS2, a joint venture for the HS2 project with Balfour Beatty and other Vinci group companies, was invoiced by the company in the amount of £5,548,942 (2023: £6,301,386). At the year-end date the amount due to the Company from Balfour Beatty Vinci JV HS2 amounted to £545,078 (2023: £2,058,960).

11.	CONTROLLING PARTY

The Companies controlling party is its holding company Vinci Construction Terrassement Grands Projets, France.