The directors present the strategic report for the year ended 31 March 2025.

This year, LDA Design marked 45 years of working to bring about the change that people want and need to see. Throughout this time, we have advocated for treating people and planet with equal respect. Through a wide range of major projects we have laid the groundwork for meaningful change that reflects our purpose: to make great places and shape the world around us for the better.

Jersey’s new 200-bed hospital at Overdale stands within a woodland campus, and our landscape design finds balance between the existing character of the site and state-of-the-art hospital architecture. The £710 million project is addressing biodiversity net gain in a way that no other UK hospital has done before, and embedding the principles of biophilia throughout to promote healing.

In the East of England, we are jointly leading the masterplan for two new reservoirs in Lincolnshire and in the Cambridgeshire Fens, to strengthen resilience in the face of both drought and flooding. Our proposals deliver a wide range of local community benefits, including nature-based recreation.

Energy security is another key strand in our portfolio. We have, for example, supported EDF for more than a decade on the development of Sizewell C. Located in the Suffolk Coast and Heaths Area of Outstanding Natural Beauty and Suffolk Heritage Coast, Sizewell C is the third generation of nuclear power station here. It will generate enough low-carbon electricity to supply six million homes and we advise on all aspects of landscape matters for the site.

For our client HS2, the creation of Colne Valley Viaduct in Buckinghamshire presented us with an opportunity to establish a large-scale new landscape, an interconnected mosaic of dynamic, nature-rich habitats across floodplains and valley slopes.

The Southsea Coastal Scheme in Portsmouth is the UK’s largest local authority-led coastal defence project. Spanning 4.5 kilometres, this £180 million programme will safeguard thousands of homes and hundreds of businesses from flooding for the next century. As the lead Landscape Architect, we have turned this into an opportunity for transformative placemaking.

We continue to provide strategic advice to government, including developing a ‘passport’ to support Homes England in its ambition to move to an outcomes-focussed approach which delivers more sustainable places.

Stratford Waterfront, part of East Bank in Queen Elizabeth Olympic Park, is the largest investment in a cultural and educational quarter in London since the creation of the South Bank. LDA designed the public realm, which came to life this year as a common ground where art, fashion and performance is being brought outside for everyone to enjoy.

This year has also been the first in our current three-year plan, and our priorities have included governance, efficiency and financial resilience. We launched three key strands of work. The first explored our brand and what people know and think about us, and the distinctive value of asking the world a question – what is the change you want to see? We also developed our creative culture and focus on outcomes rather than outputs, and our approach to equity, diversity, and inclusion.

We are making great progress to hit our 42 percent 2030 carbon emissions reduction target. In the last year, we have achieved an overall reduction in our emissions of 12%, which exceeded our annual target of 7.6%.

Our diverse portfolio of work, representing repeat business and a broadening client base, is central to our commercial resilience. Our top ten clients represent 27% of our income and our strategy remains to maintain a consistent split between private and public sector work.

In 2024/25, we won 28 awards for our work, more than the previous year. Projects receiving recognition included our restoration of Union Terrace Gardens in Aberdeen which won the Civic Trust Award’s top prize for ‘Outstanding Achievement’. The West End Project, our transformational ‘grey to green’ scheme with Camden Council, was also a multiple award winner. Our work to reimagine Great Ormond Street as London’s first healthy hospital street won a Healthy City Design Award. The transformation of Sighthill in Glasgow into a nature-rich, community-focussed place to live won a Scottish Design Gold.

Principal risks and uncertainties

As an environmental consultancy, LDA Design is subject to the risks and uncertainties of the competitive market and the prevailing economic conditions. We continue to develop our systems and processes to monitor these risks and retain our accreditations for Quality (ISO 9001), Environmental Management Systems (ISO 14001), Cyber Essentials and Health & Safety.

The company's key financial performance indicators during the year were as follows:

Turnover has increased by 0.6% during the year and profit before tax decreased by 52%. The business continues to operate a flexible, hybrid working model that continues to meet the needs of the business and employee owners.

Research and Development

We focus on innovation supported by industry-leading knowledge and expertise, generating extraordinary results and improving understanding and associated technology with each project. We pride ourselves on our quality and ability to overcome challenges and issues we face in delivering project outcomes. A strong culture of innovation and challenging the norm has thus been nurtured within our organisation. This has led to several breakthroughs, broadening understanding within the business and the construction industry in general.

It is often the case that there is no readily available industry knowledge when encountering certain challenges. Accordingly, our team are required to work in new environments where there is no handbook or guidance accessible.

We have a highly skilled and motivated workforce. Our management teams are experienced in a wide range of disciplines ensuring they are at the forefront of skills and knowledge within the industry. All team members are highly trained within their specific fields and are seen as industry leaders in their respective disciplines.

The company qualifies as a small or medium-sized entity (‘SME’). As such, all claims for self-funded R&D work are made under the SME scheme provisions set out within the Part 13 Corporation Tax Act 2009, the conditions for which are all met.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2025.

The principal activity of the company is that of the provision of landscape architectural services, urban design, environmental planning and ecological consultancy services.

The results for the year are set out on page 11.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Distributions were paid amounting to £1,270,289. The directors do not recommend payment of a further distribution.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

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

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through prudent cash flow management. All of the business’s cash balances are held in such a way that achieves a competitive rate of interest. The business also makes use of money market facilities where funds are available.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

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

Loans comprise loans from financial institutions and members. The interest rates and monthly repayments are fixed. The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.

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.

The directors are responsible for preparing the annual report 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.

We have audited the financial statements of LDA Design Consulting Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 March 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 strategic report or the directors' report.

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 directors' remuneration specified by law are not made; or

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

As explained more fully in the directors' responsibilities statement, 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 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 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.

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

Our approach was as follows:

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

• We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

• We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

• We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

• We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

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

LDA Design Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Minster Precincts, Peterborough, Cambridgeshire, PE1 1XX.

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 amounts in these financial statements are rounded to the nearest £.

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

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company 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.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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

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

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.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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 (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) 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 (or cash-generating unit) 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 (or cash-generating unit) in 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.

Cash and cash equivalents are basic financial assets and 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.

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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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, 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.

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.

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.

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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.

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 subsequently 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 through 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.

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

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.

The 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 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 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.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

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.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Employee ownership trust

The company established LDA Design Trustees Limited to enable shares in the company to be held by the trustees for the benefit of the company's employees. Distributions made by the company are treated as gifts to the trust so the trust can meet its obligations.

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However,the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates stated within the details of accounting policies elsewhere) have had the most significant effect on amounts recognised in the financial statements.

The directors consider the status of amounts recoverable under contracts at the year end and review any amounts considered unrecoverable, making a provision for these amounts where they are judged to no longer be recoverable. This judgement is made based on the status and expected success of each individual project or part thereof at the reporting date.

The directors have written off certain balances included within the sales and purchase ledgers at the year end that had been included within year end balances for significant time and are no longer considered to be payable or receivable. These amounts have been judged based on their age and written off once 6 years old within the sales ledger or 6 years old when on the purchase ledger.

The directors have considered the useful life of goodwill acquired during the year. Goodwill was generated on acquisition of the trade and assets of the LLP from which the business previously traded. The useful life of goodwill is based on the expected life of existing business including long term contracts, relationships with customers, staff employed and directors' portfolios and the stability of these combined resources. The life identified for these resources is considered to be ten years.

The whole of the turnover is attributed to one class of business.

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

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 6 (2024 - 8).

The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Amortisation is included within administrative expenses.

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

The total net book value of the company's tangible fixed assets was pledged as security over the company's loans and borrowing at the end of the current and prior year.

Details of the company's subsidiaries at 31 March 2025 are as follows:

The registered office of LDA Design Trustees Limited is L D A Design, 16-17 Minster Precincts, Peterborough, Cambridgeshire, United Kingdom, PE1 1XX.

The bank loans are secured by a fixed and floating charge over all assets and undertakings on 03/05/2024.

The bank loan attracts a margin of 6.5% above the reference rate or 0.25% whichever is higher.

On 24 April 2024, LDA Design Consulting Limited and LDA Design Trustees Limited entered into a facilities agreement with Shawbrook Bank Limited. This resulted in LDA Design Trustees Limited borrowing £2.5m over a monthly repayment term of 5 years.

This also resulted in LDA Design Consulting Limited obtaining a revolving credit facility of £750k and borrowing £1m on an interest only term loan, with repayment of the loan due on the 24 April 2029. Following the receipt of these facilities, the term loan that was in place at the year end with Triodos Bank UK Limited (2024: £516,729 liability) was repaid and Shawbrook Bank Limited replaced Triodos Bank UK Limited as the company’s main bankers.

The hire purchase creditors are secured on the fixed assets to which they relate.

There are no payments falling due after 5 years.

Other provisions relate to costs that will be incurred to put right dilapidations on properties that the company currently occupies through operating leases. These amounts will become payable at the end of the respective lease.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

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.

The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £380,352 (2024 - £355,749).

Contributions totalling £68,546 (2024 - £65,246) were payable to the scheme at the end of the year and are included in creditors.

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:

Voting, non-redeemable shares carrying rights to participate in profits and in capital including on a winding up.

B Ordinary shares have the following rights, preferences and restrictions:

Non-voting, non-redeemable shares carrying rights to participate in profits and in capital on a winding up.

Share capital

Represents the nominal value of shares that have been issued.

Profit and loss account

Includes all current period retained profits and losses, inclusive of cumulative unrealised gains and losses for certain assets shown at present value or fair value at the balance sheet date.

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:

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,486,266 (2024 - £1,389,181).

Key management personnel are the same as directors therefore key management remuneration has been disclosed in the directors remuneration note.

During the year the company entered into the following transactions with related parties:

During the year the company made gifts to the trust of £1,270,289 (2024 - £230,000) to LDA Design Employee Ownership Trust.

Summary of transactions with directors

Within the period, the following transactions were undertaken with directors: Tax paid on behalf of directors of £nil (2024 - £10,780); Balance written off of £nil (2024 - £27,661).

Since the change in ownership of 20 August 21 the company is controlled by the LDA Design Employee Ownership Trust.

The company has taken advantage of the exemption to produce consolidated financial statements, as permitted by FRS 102 section 9 Consolidated and Separate Financial Statements paragraph 9.9A.