REGISTERED NUMBER: SC343758 (Scotland)

AKP GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

to

7

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

to

27

DIRECTOR:

Ian Kerr McEwan

SECRETARY:

Louise Alice Catherine McEwan

REGISTERED OFFICE:

31 Carron Place

Kelvin Industrial Estate

East Kilbride

G75 0YL

REGISTERED NUMBER:

SC343758 (Scotland)

AUDITORS:

Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

BANKERS:

Clydesdale Bank

227 Fenwick Road

Giffnock

Glasgow

G46 6JG

SOLICITORS:

Young & Partners LLP

Business Lawyers

126 West Regent Street

Glasgow

G2 2BH

The director presents his strategic report of the company and the group for the year ended 31 March 2025.

The principal activity of the group in the period under review is the provision of project management services to the construction industry.

REVIEW OF BUSINESS

The key financial highlights are as follows:

Year to31st March

Year to31st March

Year to31st March

2025

2024

2023

£

£

£

Turnover

35,631,696

17,995,448

19,682,782

Turnover growth

98.0%

-8.5%

26.4%

Profit (loss) before tax

3,281,938

1,155,036

930,043

The net assets of the group have increased from £4,660,714 at 31 March 2024 to £6,993,680 at 31 March 2025.

PRINCIPAL RISKS AND UNCERTAINTIES

Competitive pressure has increased in the market place and the director strives to ensure that margins and profitability remain consistent year on year.

In addition the director seeks to control overhead costs in order to maintain the profitability of the group.

FUTURE DEVELOPMENTS

The director aims to maintain the management policies adopted during the period ended 31 March 2025 and consider the group is well placed to take advantage of opportunities which may arise in the current year.

FINANCIAL INSTRUMENTS

The group's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to finance the group's operations.

Trade debtors are managed in respect of credit and cashflow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ENVIRONMENT

The group recognises the importance of its environmental responsibilities and has policies in place to manage its impact on the environment.

ON BEHALF OF THE BOARD:

Ian Kerr McEwan - Director

30 September 2025

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the provision of project management services to the construction industry.

DIVIDENDS

The total distributions of dividends during the year are £100,000 ( 2024 - £Nil).

DIRECTOR

Ian Kerr McEwan held office during the whole of the period from 1 April 2024 to the date of this report.

CHARITABLE DONATIONS

Donations amounting to £5,287 (2024 - £5,412) were made by the company during the year.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Azets Audit Services, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ian Kerr McEwan - Director

30 September 2025

Opinion

We have audited the financial statements of AKP Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 March 2025 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

Kirsty Mackie BAcc CA (Senior Statutory Auditor)

for and on behalf of Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

30 September 2025

TURNOVER

3

35,631,696

17,995,448

Cost of sales

(29,398,256

)

(14,715,850

)

GROSS PROFIT

6,233,440

3,279,598

Administrative expenses

(3,049,791

)

(2,180,218

)

3,183,649

1,099,380

Other operating income

17,556

21,341

OPERATING PROFIT

3,201,205

1,120,721

Interest receivable and similar income

100,733

34,315

3,301,938

1,155,036

Amounts written off investments

5

(20,000

)

-

PROFIT BEFORE TAXATION

6

3,281,938

1,155,036

Tax on profit

7

(848,972

)

(320,185

)

PROFIT FOR THE FINANCIAL YEAR

2,432,966

834,851

Profit attributable to:

Owners of the parent

2,432,966

834,851

PROFIT FOR THE YEAR

2,432,966

834,851

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,432,966

834,851

Total comprehensive income attributable to:

Owners of the parent

2,432,966

834,851

FIXED ASSETS

Intangible assets

10

-

61,975

Tangible assets

11

761,218

705,206

Investments

12

-

-

761,218

767,181

CURRENT ASSETS

Stocks

13

1,118,987

622,031

Debtors

14

9,158,932

6,796,962

Cash at bank and in hand

5,198,780

3,501,723

15,476,699

10,920,716

CREDITORS

Amounts falling due within one year

15

9,188,983

6,982,348

NET CURRENT ASSETS

6,287,716

3,938,368

TOTAL ASSETS LESS CURRENT LIABILITIES

7,048,934

4,705,549

PROVISIONS FOR LIABILITIES

17

55,254

44,835

NET ASSETS

6,993,680

4,660,714

CAPITAL AND RESERVES

Called up share capital

18

100

100

Share premium

19

494,464

494,464

Retained earnings

19

6,499,116

4,166,150

SHAREHOLDERS' FUNDS

6,993,680

4,660,714

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Ian Kerr McEwan - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

3,204,520

3,204,520

3,204,520

3,204,520

CURRENT ASSETS

Debtors

14

2,436,780

500,044

Cash at bank

1,506,345

1,143,081

3,943,125

1,643,125

NET CURRENT ASSETS

3,943,125

1,643,125

TOTAL ASSETS LESS CURRENT LIABILITIES

7,147,645

4,847,645

CAPITAL AND RESERVES

Called up share capital

18

100

100

Share premium

19

494,464

494,464

Retained earnings

19

6,653,081

4,353,081

SHAREHOLDERS' FUNDS

7,147,645

4,847,645

Company's profit for the financial year

2,400,000

756,990

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 director and authorised for issue on 30 September 2025 and were signed by:

Ian Kerr McEwan - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 April 2023

100

3,331,299

494,464

Changes in equity

Total comprehensive income

-

834,851

-

Balance at 31 March 2024

100

4,166,150

494,464

Changes in equity

Dividends

-

(100,000

)

-

Total comprehensive income

-

2,432,966

-

Balance at 31 March 2025

100

6,499,116

494,464

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 April 2023

3,825,863

-

3,825,863

Changes in equity

Total comprehensive income

834,851

-

834,851

Balance at 31 March 2024

4,660,714

-

4,660,714

Changes in equity

Dividends

(100,000

)

-

(100,000

)

Total comprehensive income

2,432,966

-

2,432,966

Balance at 31 March 2025

6,993,680

-

6,993,680

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2023

100

3,596,091

494,464

4,090,655

Changes in equity

Total comprehensive income

-

756,990

-

756,990

Balance at 31 March 2024

100

4,353,081

494,464

4,847,645

Changes in equity

Dividends

-

(100,000

)

-

(100,000

)

Total comprehensive income

-

2,400,000

-

2,400,000

Balance at 31 March 2025

100

6,653,081

494,464

7,147,645

Cash flows from operating activities

Cash generated from operations

1

2,465,675

751,710

Tax paid

(621,254

)

(182,484

)

Net cash from operating activities

1,844,421

569,226

Cash flows from investing activities

Purchase of tangible fixed assets

(148,155

)

(657,394

)

Sale of tangible fixed assets

58

8,849

Interest received

100,733

34,315

Net cash from investing activities

(47,364

)

(614,230

)

Cash flows from financing activities

Amount introduced by directors

-

408,290

Equity dividends paid

(100,000

)

-

Net cash from financing activities

(100,000

)

408,290

Increase in cash and cash equivalents

1,697,057

363,286

Cash and cash equivalents at beginning of year

2

3,501,723

3,138,437

Cash and cash equivalents at end of year

2

5,198,780

3,501,723

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

2025

2024

£

£

Profit before taxation

3,281,938

1,155,036

Depreciation charges

154,116

157,852

Profit on disposal of fixed assets

(56

)

(8,843

)

Finance income

(100,733

)

(34,315

)

3,335,265

1,269,730

Increase in stocks

(61,883

)

(6,343

)

Increase in trade and other debtors

(497,043

)

(3,085,028

)

(Decrease)/increase in trade and other creditors

(310,664

)

2,573,351

Cash generated from operations

2,465,675

751,710

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

5,198,780

3,501,723

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

3,501,723

3,138,437

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

3,501,723

1,697,057

5,198,780

3,501,723

1,697,057

5,198,780

Total

3,501,723

1,697,057

5,198,780

1.	STATUTORY INFORMATION

AKP Group Limited, is a private company, limited by shares, registered in Scotland. The company's registered number is SC343758 and registered office address is 31 Carron Place, Kelvin Industrial Estate, East Kilbride, Glasgow, G75 0YL.

The nature of the company's operations and its principal activities was that of project management services to the construction industry.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements

Basis of consolidation

The group financial statements consolidate the financial statements of AKP Group Limited and its subsidiary undertakings drawn up to 31st March each year. No profit and loss account is presented for AKP Group Limited in accordance with section 408 of the Companies Act 2006.

Critical accounting judgements & key sources of estimation uncertainty

The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect amounts recognised for the assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the reporting period. Actual outcomes may differ from these judgements, estimates and assumptions.

The judgements, estimates and assumptions that have the most significant effect on the carrying value of assets and liabilities of the Group as at 31 March 2025 are discussed below:

Revenue and margin recognition (estimate)

The Group's revenue recognition and margin recognition policies, which are set out in note 2, are central to how the Group values the work it has carried out in each financial year.

These policies require forecasts to be made of the outcomes on long-term contracts, which require estimates to be made of both cost and income recognition on each contract. On the cost side, estimates of forecasts are made on the final out-turn of each contract in addition to potential costs to be incurred for any maintenance and defects liabilities. On the income side, estimates are made on variations to consideration which typically include variations due to changes in scope of work, recoveries of claim income from customers, and potential liquidated damages that may be levied by customers. The Group continues to regularly assess these estimates.

As at 31 March 2025, the Group's contract assets (long term contracts WIP and amounts recoverable on long term contracts) and contract liabilities (accrued expenses) amounted to £1,110,526, £2,761,518 and £581,680 respectively as set out in notes 10, 11 and 12. The Group has considered the nature of estimates involved in deriving these balances and concluded that it is possible, on the basis of existing knowledge, that outcomes within the next financial year may be different from the Group's assumptions applied as at 31 March 2025 and could require a material adjustment to the carrying amount of these assets and liabilities in the next financial year. However, due to the level of uncertainty, combination of cost and income variables and timing across a large portfolio of contracts at different stages of their contract life, it is impractical to provide a quantitative analysis of the aggregated estimates that are applied at a portfolio level.

Turnover

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. Consideration is given to the point at which the company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided 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;

- the costs incurred can be measured reliably.

Goodwill on consolidation

Goodwill represents an investments bought by a subsidiary during 2020 and 2023 and will be written off evenly over 5 years and 3 years respectively.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

20% - 25% on cost

Fixtures and fittings

-

15% - 33.3% straight line

Motor vehicles

-

25% on cost

Individual freehold and leasehold properties are revalued to fair value every year with the surplus or deficit on book value being transferred to the revaluation reserve.

Stocks

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 items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Net realisable value is based on estimated selling price less costs to completion and selling costs.

Long term contract work in progress is shown at net cost after deducting foreseeable losses and payments on account.

Turnover on long term contracts is determined on the basis of the stage of completion of each contract.

Operating profit includes attributable profit on long term contracts completed and amounts recoverable on contracts uncompleted, the latter also being included under debtors due within one year.