Company registration number 02568539 (England and Wales)
SITE ENGINEERING SURVEYS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
SITE ENGINEERING SURVEYS LIMITED
COMPANY INFORMATION
Director
Mr J W Gaffney
Company number
02568539
Registered office
Brandon House
First Floor
90 The Broadway
Chesham
Buckinghamshire
HP5 1EG
Auditor
Dickinsons Chartered Accountants
Brandon House
First Floor
90 The Broadway
Chesham
Buckinghamshire
HP5 1EG
Bankers
Lloyds Bank Plc
123 High Street
Slough
Berkshire
SL1 1DH
SITE ENGINEERING SURVEYS LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2
Independent auditor's report
3 - 5
Statement of income and retained earnings
6
Balance sheet
7
Notes to the financial statements
8 - 18
SITE ENGINEERING SURVEYS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -

The director presents the strategic report and audited financial statements for the year ended 31 January 2025.

Fair Review of the Business

The director is satisfied with the performance of the company seeing a year of growth from sales activity whilst maintaining a healthy gross margin. This wasn't fully measured in the result owing to an increase in customer bad debts and general inflationary rises to other costs. Ongoing operating infrastructure and related costs can support the current and expected revenues in 2025/26.

Principal Risks and Uncertainties

Principal risks and uncertainties are continually assessed by management. These risks are managed through maintaining close sensitivity to the market and to changes in demand, customer interest and competitive pressures.

The director monitors performance on a monthly basis using a range of financial and non financial indicators. Working capital management is the primary indicator which is reviewed on a weekly basis to monitor cashflow and the recovery of trade debtors.

The company has a significant spread of large individual customers to ensure cashflow requirements are met.

Delivery Risk

The company manages the delivery of services to clients in accordance with cost and service quality requirements by implementing controls to monitor project progress and profitability.

Credit Risk

To manage credit risk, the credit control department reviews overdue balances on a daily basis.

Liquidity risk

The company manages liquidity risk by ensuring sufficient liquidity (including allowances for contingencies) is available to meet foreseeable needs. Arrangements are made with government agencies to manage liquidity.

Development and Performance

Turnover for the year was £11.98m (2024: £11.37m). The result for the year was a profit before tax of £544,833 (2024: £584,660) and net assets at 31 January 2025 were £1,422,155 (2024: £1,356,410).

Key Performance Indicators

The company monitors its performance by reviewing key sales and cost analysis.

Debtor days and creditor days are reviewed to monitor working capital requirements.

Sales are monitored via monthly sales reports and the individual contract and job progress against work invoiced and completed.

Income is measured against the value of the fee earning capacity of each member of the workforce.

Wages are reviewed weekly and monthly as a metric against sales to ensure gross margins are being achieved.

Other Indicators

The company reviews employee retention as a measure against sales and the output provided to customers as the workforce are assigned to key customers and jobs.

On behalf of the board

Mr J W Gaffney
Director
15 October 2025
SITE ENGINEERING SURVEYS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -

The director presents his annual report and financial statements for the year ended 31 January 2025.

Principal activities

The principal activity of the company continued to be the provision of land and construction surveying services.

Results and dividends

The results for the year are set out on page 6. Ordinary dividends were paid amounting to £330,000. A final dividend is not recommended.

Director

John Gaffney held office during the year and up to the date of signature of the financial statements.

Auditor

Dickinsons were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of director's responsibilities

The director is responsible for preparing the annual report 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 of the profit or loss of the company 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; and

- 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 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. He is 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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report is in accordance with provisions applicable to medium sized companies.

On behalf of the board
Mr J W Gaffney
Director
15 October 2025
SITE ENGINEERING SURVEYS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SITE ENGINEERING SURVEYS LIMITED
- 3 -
Opinion

We have audited the financial statements of Site Engineering Surveys Limited (the 'company') for the year ended 31 January 2025 which comprise the statement of income and retained earnings, the balance sheet 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 FRS 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 January 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 Auditor's 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 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

SITE ENGINEERING SURVEYS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SITE ENGINEERING SURVEYS LIMITED (CONTINUED)
- 4 -
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 identifie d material misstatements in the strategic report or the director's r eport.

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 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 director's r esponsibilities s tatement, 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 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's 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 auditor's 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 assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur, by meeting with management to understand where they consider there was a susceptibility to fraud.

Our audit planning identified fraud risks in relation to management override. We obtained an understanding of the processes and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how management monitors those processes and controls.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and

determined that the most significant are those that relate to the Companies Act 2006 and Financial Reporting

Standard 102.

We also communicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We assessed the risk of material misstatement in respect of fraud with particular reference to related party transactions and journal postings, by nature of the company being run by a sole director, considering the risk of management override.

We considered the risk of fraud through related party transactions by reviewing nominal ledgers and journal postings, alongside the review of related company accounts and enquiry of management. Based on this audit approach to address the risk of fraud through related party transactions, we also addressed the risk of fraud from management override by following these journals and transactions through to the financial statements.

SITE ENGINEERING SURVEYS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SITE ENGINEERING SURVEYS LIMITED (CONTINUED)
- 5 -

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Other matters which we are required to address

The comparative figures are unaudited and sufficient appropriate audit evidence has been obtained in order to ensure that the opening balances do not contain misstatements that materially affect the current period's financial statements.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's 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 member, for our audit work, for this report, or for the opinions we have formed.

Dominic Cader
Senior Statutory Auditor
16 October 2025
For and on behalf of Dickinsons
Chartered Accountants
Statutory Auditor
Brandon House
First Floor
90 The Broadway
Chesham
Buckinghamshire
HP5 1EG
SITE ENGINEERING SURVEYS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
2025
2024
Notes
£
£
Turnover
3
11,986,043
11,373,526
Cost of sales
(7,448,537)
(7,294,212)
Gross profit
4,537,506
4,079,314
Distribution costs
(527,494)
(451,060)
Administrative expenses
(3,445,731)
(3,027,449)
Other operating income
38,000
49,000
Operating profit
4
602,281
649,805
Interest receivable and similar income
7
-
0
542
Interest payable and similar expenses
8
(57,449)
(65,687)
Profit before taxation
544,832
584,660
Tax on profit
9
(149,087)
(139,800)
Profit for the financial year
395,745
444,860
Retained earnings brought forward
1,346,410
1,095,550
Dividends
10
(330,000)
(194,000)
Retained earnings carried forward
1,412,155
1,346,410
SITE ENGINEERING SURVEYS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
313,606
354,072
Current assets
Debtors
12
3,234,595
2,907,955
Cash at bank and in hand
51,633
220,858
3,286,228
3,128,813
Creditors: amounts falling due within one year
13
(2,019,627)
(1,839,840)
Net current assets
1,266,601
1,288,973
Total assets less current liabilities
1,580,207
1,643,045
Creditors: amounts falling due after more than one year
14
(92,884)
(212,195)
Provisions for liabilities
16
(65,168)
(74,440)
Net assets
1,422,155
1,356,410
Capital and reserves
Called up share capital
18
10,000
10,000
Profit and loss reserves
1,412,155
1,346,410
Total equity
1,422,155
1,356,410

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 15 October 2025
Mr J W Gaffney
Director
Company registration number 02568539 (England and Wales)
SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
1
Accounting policies
Company information

Site Engineering Surveys Limited is a private company limited by shares incorporated in England and Wales. The registered office is at Brandon House, First Floor, 90 The Broadway, Chesham, Buckinghamshire, HP5 1EG. The trading address of the company is 16 Tiller Court, Tiller Road, London, E14 8PX

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Fastway Management Limited. These consolidated financial statements are available from its registered office, Brandon House, First Floor, 90 The Broadway, Chesham, HP5 1EG.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts derived from ordinary activities receivable for services net of VAT.

Revenue is recognised to the extent that it can be measured reliably and is included at the fair value of the consideration received or receivable.

Revenue represents the fair value of services provided; in the case of time-charged work this is on the basis of time spent at agreed fee rates.

In the case of fixed fee contracts, the value of services provided as a proportion of the total value of the contract. Full provision is made for all known or anticipated losses on each contract immediately such losses are identified.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies (Continued)
- 9 -

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Survey equipment
25% straight line
Computer equipment
33.33% straight line
Motor vehicles
3.5 years straight line with a specific residual value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset i n prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies (Continued)
- 10 -
Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies (Continued)
- 11 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies (Continued)
- 12 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

The company operates a defined contribution scheme for the benefit of all employees and the director. Contributions payable are charged to the profit and loss account in the year they are payable.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The judgements and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Accrued income

Accrued income is valued at the amount considered recoverable by the director; based on post year end applications and the director's judgement of which relate to works performed in the current financial year.

Bad debts

The director provides for bad debts based on assumptions of the viability of the debt being recovered, whether this is part of an ongoing contract or an entire contract. The company will apply for payment depending on works completed, however this could be disputed based on the customer's assessment of work done.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
2
Judgements and key sources of estimation uncertainty (Continued)
- 13 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation of Tangible Fixed Assets

The director continues to depreciate plant and machinery at 25% on cost and office equipment at 33% on cost. The director considers these methods reasonably reflect the economic consumption of the assets over their useful lives. These assets are reviewed annually for any impairment and there has been no change to the basis of the estimate.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Land and construction surveying services
11,986,043
11,373,526
2025
2024
£
£
Other revenue
Interest income
-
542
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
7,000
-
0
Depreciation of owned tangible fixed assets
165,097
138,926
Operating lease charges
170,087
141,169
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Employees
217
209
Directors
1
1
Total
218
210
SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
5
Employees (Continued)
- 14 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
6,808,029
6,425,315
Social security costs
806,916
766,354
Pension costs
122,748
124,880
7,737,693
7,316,549
6
Director's remuneration
2025
2024
£
£
Remuneration for qualifying services
179,049
168,424
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
-
0
542
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
14,788
22,901
Interest on finance leases and hire purchase contracts
14,973
20,896
Other interest
27,688
21,890
57,449
65,687
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
158,359
100,133
Deferred tax
Origination and reversal of timing differences
(9,272)
39,667
Total tax charge
149,087
139,800
SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
9
Taxation (Continued)
- 15 -

The credit for the year can be reconciled to the statement of comprehensive income as follows:

2025
2024
£
£
Profit before taxation
544,832
584,660
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
136,208
146,165
Tax effect of expenses that are not deductible in determining taxable profit
54,153
27,215
Tax effect of utilisation of tax losses not previously recognised
-
0
26,512
Change in unrecognised deferred tax assets
(9,272)
(9,916)
Effect of change in corporation tax rate
-
0
(10,161)
Permanent capital allowances in excess of depreciation
(32,002)
(40,015)
Taxation charge for the year
149,087
139,800
10
Dividends
2025
2024
£
£
Interim paid
330,000
194,000
11
Tangible fixed assets
Survey equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2024
1,332,173
276,691
77,000
1,685,864
Additions
120,445
4,186
-
0
124,631
At 31 January 2025
1,452,618
280,877
77,000
1,810,495
Depreciation and impairment
At 1 February 2024
1,074,356
200,180
57,256
1,331,792
Depreciation charged in the year
127,854
37,243
-
0
165,097
At 31 January 2025
1,202,210
237,423
57,256
1,496,889
Carrying amount
At 31 January 2025
250,408
43,454
19,744
313,606
At 31 January 2024
257,817
76,511
19,744
354,072
SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 16 -
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,381,682
1,961,331
Other debtors
2,700
9,900
Prepayments and accrued income
850,213
936,724
3,234,595
2,907,955
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loan instalments (secured)
107,187
107,411
Obligations under finance leases
15
86,081
123,674
Trade creditors
572,624
595,639
Corporation tax
235,218
100,133
Other taxation and social security
741,853
618,246
Other creditors
2,403
44,358
Accruals and deferred income
274,261
250,379
2,019,627
1,839,840

The bank loan is secured by way of a personal guarantee provided by the director.

14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loan instalments (secured)
-
0
107,187
Obligations under finance leases
15
92,884
105,008
92,884
212,195

The bank loan is secured by way of a personal guarantee provided by the director.

15
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
86,081
123,674
In two to five years
92,884
105,008
178,965
228,682

Obligations under finance leases are secured under the assets concerned.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 17 -
16
Deferred taxation

The following is the analysis of the deferred tax balances for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
65,168
74,440
2025
Movements in the year:
£
Liability at 1 February 2024
74,440
Credit to profit and loss
(9,272)
Liability at 31 January 2025
65,168
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
122,748
124,880

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000

Each share carries f ull voting rights, f ull dividend rights, f ull entitlement on a Capital Distribution and the c ompany is entitled to buy back its shares.

SITE ENGINEERING SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 18 -
19
Operating lease commitments
As lessee

The company has operating leases in respect of specific equipment. The lease period is for an average of 1 to 3 years with no break clause.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
93,972
54,618
Between 2-5 years
81,166
86,551
175,138
141,169
20
Ultimate controlling party

The company is under the immediate control of its parent, Fastway Management Limited. The company i s under the ultimate control of Mr J Gaffney, the director, who controls Fastway Management Limited.

The company's results are consolidated into the immediate parent company's accounts, Fastway Management Limited, which is the smallest and largest consolidation group.

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