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

Advance Northumberland Project’s aim is to deliver first-class project management services.

The project management team continue to secure a pipeline of new work which will help Northumberland County Council deliver its Corporate Plan.

Throughout the year, the Company has been involved in a broad portfolio of projects across the county, supporting Northumberland County Council and the Advance Group companies. This programme of work – including town centre regeneration, cinema, and retail developments – will continue to be delivered into the next financial year.

The Company has maintained revenue at £0.6m (2024: £0.6m). Cost of sales have reduced to £0.2m (2024: £0.5m). The profit for the financial year is £0.02m (2024: loss £0.1m).

Debtors have increased to £0.2m (2024: £0.0m). Short term creditors have increased to £0.2m (2024: £0.1m). The majority of the balance is owed by group undertakings.

The Advance Northumberland Group takes a proactive approach to risk management.

The overarching strategic approach and risk appetite is set by the Advance Northumberland Group Board. The organisational hierarchy provides for the dynamic escalation and de-escalation of risks between department Project Risk Registers, to an Operational Risk Register and the Corporate Risk Register. All risks are recorded, together with their impacts and controls, and scored, using the 5 x 5 matrix set out in the Risk Management Policy, which was last reviewed and approved by Board on 04 September 2025.

The Executive Risk Management Group (ERMG) is the formal management group created to support the Board manage current and emerging strategic and operational risk. The purpose of the ERMG is to create the functional link between the Board and the operational management teams. The ERMG ensures compliance with our Risk Management Policy and the integration of risk management into our business planning and decision-making processes, supporting the continuous improvement of the organisation. ERMG report their review of risk to all Board Meetings, and all Audit Committee meetings receive an assurance report from the Executive Director of Governance on the efficacy of the Risk Management Policy and operational practices. A summary of these risks can be found in the Advance Northumberland Limited group accounts.

On behalf of the board

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

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

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; and

• 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.

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.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Advance Northumberland (Projects) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Reception Wansbeck Workspace, Rotary Parkway, Ashington, Northumberland, NE63 8QZ.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

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.

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 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.

In the application of the company’s accounting policies, the directors are 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.

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

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

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.

The Company’s immediate parent company is Advance Northumberland Limited. Northumberland County Council is the ultimate controlling party by virtue of its shareholding in Advance Northumberland Limited. Northumberland County Council, a local authority statutorily constituted in England, prepared consolidated group accounts which can be obtained by application to Northumberland County Council, County Hall, Morpeth, Northumberland, NE61 2FF.