ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 06459279

ASPECT CONTRACTS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

ASPECT CONTRACTS LIMITED

COMPANY INFORMATION

Directors	G J Lawrence Esq
	G M E Beglan Esq
	G Cunningham Esq
	C H J Foster Esq
	I R Gooden Esq
	D P Senior Esq
	A P Smith Esq
	D W Wickins Esq (resigned 10 July 2024)


Company secretary	G J Lawrence Esq


Registered number	06459279


Registered office	Aspect House
	Honywood Road
	Basildon
	Essex
	SS14 3DS


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditor
	Charles Lake House
	Claire Causeway
	Crossways Business Park
	Dartford
	Kent
	DA2 6QA


Bankers	Allied Irish Bank (GB)
	202-204 Finchley Road
	Hampstead
	London
	NW3 6BX

ASPECT CONTRACTS LIMITED

CONTENTS

	Page
Strategic report	1
Directors' report	2 - 3
Independent auditors' report	4 - 7
Statement of comprehensive income	8
Balance sheet	9
Statement of changes in equity	10
Notes to the financial statements	11 - 22

ASPECT CONTRACTS LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The directors present their strategic report accompanying the financial statements for the year ended 31 March
2025.

Business review

The directors are pleased with the company’s maintained activity and profitability. The company also continues to report healthy net assets of £8.9m (2024: £8.8m).

Principal risks and uncertainties

The management of the business and the execution of the company’s strategy are subject to some risks. The key business risks and uncertainties affecting the company are considered to relate to the skilled trades availability within the industry, (this is being tackled currently by use of agency labour) and some expected legislative changes. Risks and opportunities are monitored on an ongoing basis to ensure the business exploits opportunities and manages exposure to risk

Financial key performance indicators

Given the straightforward nature of the business, the company’s directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.

This report was approved by the board and signed on its behalf.

A P Smith Esq

Director

Date: 19 November 2025

Page 1

ASPECT CONTRACTS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

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

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the company's financial statements and then apply them consistently;

∙make judgments 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 to 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.

Results and dividends

The profit for the year, after taxation, amounted to £67,276 (2024: £136,175).

The directors do not recommend payment of a final dividend (2024: £Nil).

Directors

The directors who served during the year were:

G J Lawrence Esq

G M E Beglan Esq

G Cunningham Esq

C H J Foster Esq

I R Gooden Esq

D P Senior Esq

A P Smith Esq

D W Wickins Esq (resigned 10 July 2024)

Charitable contributions

During the year the company made charitable donations of £6,499 (2024: £6,781).

Page 2

ASPECT CONTRACTS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Environmental matters

The company will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The company has complied with all applicable legislation and regulations.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.

This report was approved by the board and signed on its behalf.

A P Smith Esq

Director

Date: 19 November 2025

Page 3

ASPECT CONTRACTS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASPECT CONTRACTS LIMITED

Opinion

We have audited the financial statements of Aspect Contracts 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 and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 31 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

Page 4

ASPECT CONTRACTS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASPECT CONTRACTS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Opinion 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 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 2, 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.

Page 5

ASPECT CONTRACTS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASPECT CONTRACTS LIMITED (CONTINUED)

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 an Auditors' 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with law and regulations, was as follows:

• The engagement partner ensured that the engagement team collectively had the appropriate competence
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the company through discussion with directors and
   other management, and from our commercial knowledge and experience of the relevant sector in which
   the company operates;
• The specific laws and regulations which we considered may have a direct material effect on the financial
   statements or the operations of the company, are as follows;

   o Companies Act 2006
   o FRS102
   o ISO 9001, 14001 and 45001 standards
   o Health and Safety legislation, including ARCA (Asbestos Removal Contractors Association)
   o Employment legislation
   o Tax legislation

• We assessed the extent of compliance with the laws and regulations identified above through making
   enquiries of management, reviewing board minutes and inspecting relevant legal and other
   correspondence; and
• Laws and regulations were communicated within the audit team at the planning meeting, and during the
   audit as any further laws and regulation were identified. The audit team remained alert to instances of non
   compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including
obtaining an understanding of how fraud might occur by:

• Making enquires of management as to where they consider there was susceptibility to fraud and their
   knowledge of actual suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
   regulations;
• Reviewing the financial statements and testing the disclosures against supporting documentation;
• Performing analytical procedures to identify any unusual or unexpected trends or anomalies;-
• Inspecting and testing journal entries to identify unusual or unexpected transactions;
• Assessing whether judgement and assumptions made in determining significant accounting estimates, including certain year end accruals, were indicative of management bias; and
• Investigating the rationale behind significant transactions, or transactions that are unusual or outside the
   company’s usual course of business.

Page 6

ASPECT CONTRACTS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASPECT CONTRACTS LIMITED (CONTINUED)

The areas that we identified as being susceptible to misstatement through fraud were:

• Management bias in the estimates and judgements made;
• Management override of controls; and
• Posting of unusual journals or transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

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 an Auditors' 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.

Mario Cientanni (Senior statutory auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants

Statutory Auditor

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA

Date: 5 December 2025

Page 7

ASPECT CONTRACTS LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Note	£	£


Turnover	4	14,160,205	13,523,177
Cost of sales		(8,889,416)	(8,444,472)
Gross profit		5,270,789	5,078,705
Administrative expenses		(5,032,511)	(4,794,698)
Operating profit	5	238,278	284,007
Interest payable and similar expenses	9	(49,606)	(142,434)
Profit before tax		188,672	141,573
Tax on profit	10	(121,396)	(5,398)
Profit for the financial year		67,276	136,175

There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 11 to 22 form part of these financial statements.

Page 8

ASPECT CONTRACTS LIMITED

REGISTERED NUMBER: 06459279

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	11		494,699		157,185
Current assets
Stocks	12	521,482		515,878
Debtors: amounts falling due within one year	13	20,315,390		18,969,199
Cash at bank and in hand	14	224,566		54,162
		21,061,438		19,539,239
Creditors: amounts falling due within one year	15	(12,122,019)		(10,608,208)
Net current assets			8,939,419		8,931,031
Total assets less current liabilities			9,434,118		9,088,216
Creditors: amounts falling due after more than one year	16		(504,380)		(262,799)
Provisions for liabilities
Deferred tax	18		(37,045)		-
Net assets			8,892,693		8,825,417

Capital and reserves
Called up share capital	19	999	999
Profit and loss account		8,891,694	8,824,418
		8,892,693	8,825,417

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A P Smith Esq

Director

Date: 19 November 2025

The notes on pages 11 to 22 form part of these financial statements.

Page 9

ASPECT CONTRACTS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2024	999	8,824,418	8,825,417
Comprehensive income for the year
Profit for the year	-	67,276	67,276
At 31 March 2025	999	8,891,694	8,892,693

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2023	999	8,688,243	8,689,242
Comprehensive income for the year
Profit for the year	-	136,175	136,175
At 31 March 2024	999	8,824,418	8,825,417

The notes on pages 11 to 22 form part of these financial statements.

Page 10

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Aspect Contracts Limited is a private company limited by shares and incorporated in England and Wales. The registered office of the company is given in the company information page of these financial statements.

The principal activity of the company is that of total asbestos risk management, from surveying to removal, including collection and the supply of hire equipment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Environmental Group Limited as at 31 March 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.

2.3

Going concern

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

Page 11

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Revenue

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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised once the contractual obligation with the client has been fulfilled and where only partially performed, revenue is recognised to the extent that the right to consideration has been obtained through performance.

2.5

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Leased assets: the company as lessee

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

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 12

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases:

Freehold property	-	2.5%	straight line
Plant and machinery	-	10.0%	to 25% straight line
Motor vehicles	-	25.0%	straight line
Office equipment	-	10.0%	to 25% straight line
Other fixed assets	-	33.0%	straight line

2.12

Stock

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items. Cost is based on the cost of purchase.

2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 13

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.17

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

2.18

Invoice discounting

The company discounts its trade debts. The accounting policy is to include trade debtors discounted with recourse under trade debtors due within one year and to record the returnable element of the finance advanced under creditors due within one year. Discount fees are charged to the Statement of Comprehensive Income when reasonably foreseeable.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, which are disclosed in note 2, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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.

The areas in the financial statements where these judgments and estimates have been made include the following:

1. The company makes key assumptions regarding the useful economic life of tangible fixed assets and this is further described in note 2.11 of the accounting policies.

2. The company uses judgement when valuing accrued income. This is based on an estimated value of works completed and not yet invoiced, and amounted to £226,468 (2024: £198,806) at the year end.

Page 14

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Turnover

All turnover arose within the United Kingdom.

Depreciation	117,722	135,473
Pension costs	60,080	48,283
Other operating lease rentals	316,854	308,603

Fees payable to the company's auditors for the audit of the company's financial statements

16,600

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.

Wages and salaries	5,738,595	5,663,026
Cost of defined contribution scheme	60,080	48,283
	5,798,675	5,711,309

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Production and administration	126	140

Page 15

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	426,929	297,380
Company contributions to defined contribution pension schemes	11,089	9,594
	438,018	306,974

	During the year retirement benefits were accruing to 3 directors (2024 - 3) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £95,135 (2024 - £90,355).
	The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £3,340 (2024 - £2,214).

9.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	-	103,194
Other loan interest payable	41,523	-
Finance leases and hire purchase contracts	7,133	7,130
Other interest payable	950	32,110
	49,606	142,434

Corporation tax
Current tax on profits for the year	5,927	-
Adjustments in respect of previous periods	2,455	-

Total current tax	8,382	-

	Deferred tax
	Origination and reversal of timing differences	113,014	5,398


		121,396	5,398

Page 16

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.Taxation (continued)

Profit on ordinary activities before tax

188,672

141,573

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	47,168	35,393
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	10,556	4,687
Capital allowances for year in excess of depreciation	(61,277)	6,285
Profit on sale of fixed assets	(10,166)	(12,308)
Adjustments to tax charge in respect of prior periods	2,455	-
Deferred tax charge / (credit)	113,014	5,398
Group Relief	-	(34,057)
Unrelieved tax losses carried forward	12,094	-
Other differences leading to an increase (decrease) in the tax charge	7,552	-
Total tax charge for the year	121,396	5,398

Factors that may affect future tax charges

There are no factors that may affect future tax charges.

Page 17

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Office and computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	141,732	1,354,428	971,989	864,555	3,332,704
Additions	-	4,500	364,036	87,236	455,772
Disposals	-	-	(589,565)	-	(589,565)
At 31 March 2025	141,732	1,358,928	746,460	951,791	3,198,911
Depreciation
At 1 April 2024	125,167	1,339,305	903,165	807,882	3,175,519
Charge for the year on owned assets	10,541	4,748	68,894	33,539	117,722
Disposals	-	-	(589,029)	-	(589,029)
At 31 March 2025	135,708	1,344,053	383,030	841,421	2,704,212
Net book value
At 31 March 2025	6,024	14,875	363,430	110,370	494,699
At 31 March 2024	16,565	15,123	68,824	56,673	157,185

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Motor vehicles	363,408	68,285
	363,408	68,285

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ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Stocks
		2025	2024
		£	£

Raw materials and consumables	521,482	515,878
	521,482	515,878

13.

Debtors

					2025	2024
					£	£


Trade debtors	2,624,478	2,048,634
Amounts owed by group undertakings	17,157,946	16,073,374
Other debtors	59,981	59,856
Prepayments and accrued income	472,985	711,366
Deferred taxation	-	75,969
	20,315,390	18,969,199

14.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	224,566	54,162
Less: bank overdrafts	(2,351,417)	(1,055,364)
	(2,126,851)	(1,001,202)

Page 19

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	2,351,417	1,055,364
Trade creditors	1,361,674	1,485,397
Amounts owed to group undertakings	6,432,157	6,328,719
Corporation tax	-	58,330
Other taxation and social security	1,476,533	1,222,426
Obligations under finance lease and hire purchase contracts	70,631	31,814
Other creditors	74,204	268,754
Accruals and deferred income	355,403	157,404
	12,122,019	10,608,208

Included in bank overdrafts are amounts due in respect of the company's invoice discounting facility amounting to £2,351,417 (2024: £1,055,364). These amounts are secured by means of mortgage debenture over all assets of the group and in the form of a cross guarantee.

16.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	241,581	-
Other creditors	262,799	262,799
	504,380	262,799

Within one year	70,631	31,814
Between 1-5 years	241,581	-
	312,212	31,814

Liabilities in respect of finance leases and hire purchase contracts are secured on the assets to which they relate.

Page 20

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

18.	Deferred taxation

	2025	2024
	£	£

At beginning of year	75,969	81,367
(Charged) / credited to profit or loss	(113,014)	(5,398)
At end of year	(37,045)	75,969

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(37,045)	75,969
		(37,045)	75,969

19.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

99,900 (2024 - 99,900) Ordinary shares of 1p each shares of £0.01 each	999	999

20.	Contingent liabilities

The company has given cross guarantees in favour of Allied Irish Bank (GB) in respect of the borrowings of Aspect Contracts (Asbestos) Limited, Grade 3 Limited, R&F Insulations Limited and Environmental Group Limited all of which are group companies.

The maximum potential liability under the terms of these guarantees as at 31 March 2025 was £2,351,417 (2024: £3,091,174).

The directors consider the likelihood that the company will be called upon to meet any claims under these
guarantees to be remote and accordingly have made no provision in these accounts.

21.	Pension commitments

Aspect Contracts Limited operates a defined contribution pension scheme for its employees. During the year contributions of £60,080 (2024: £48,283) were charged to profit and loss. There was £25,810 (2024: £29,195) outstanding at the end of the year in respect of contributions payable.

Page 21

ASPECT CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

	Not later than 1 year	-	4,371
		-	4,371

23.

Related party transactions

The company is a wholly owned subsidiary of Environmental Group Limited, the consolidated accounts of which are publicly available. Accordingly, the company has taken advantage of the exemption in FRS 102 from disclosing transactions with members of the Environmental Group Limited group.

Included within other debtors due within one year is an amount due from a director totalling £44,043 (2024: £44,043), and included within other creditors due after one year is an amount owed to the same director totalling £262,800 (2024: £262,800).

Included within other creditors due within one year is an amount owed to a company in which a director holds an interest totalling £Nil (2024: £200,000).

During the year, interest was paid to a director totalling £41,523 (2024: £nil).

24.	Ultimate parent company

The ultimate parent company as at 31 March 2025 was Environmental Group Limited, a company registered in England and Wales, which prepares consolidated accounts for the group. Copies of these consolidated accounts can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. From 30 May 2025, Environmental Group Holdings Limited, also incorporated in England and Wales, became the ultimate parent company.

Page 22