Company registration number 09965592 (England and Wales)
ASCIA CONSTRUCTION LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
ASCIA CONSTRUCTION LIMITED
COMPANY INFORMATION
Directors
Mr N V Cole
Mr R Emery
Company number
09965592
Registered office
Murrills House
48 East Street
Portchester
Fareham
Hampshire
United Kingdom
PO16 9XS
Auditor
bk plus Audit Limited
Azzurri House
Walsall Road
Aldridge
Walsall
England
WS9 0RB
Business address
The Portico
Stansted Park
Rowlands Castle
Hampshire
England
PO9 6DX
ASCIA CONSTRUCTION LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 21
ASCIA CONSTRUCTION LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Review of the business

Ascia Construction is an independent, privately owned building contracting company based on the Hampshire / West Sussex border, working on construction projects between £500,000 and £17m in value.

Ascia Construction works within all sectors of construction including education, commercial, industrial, residential, leisure, retail, health, community and refurbishments.

The Directors are committed to fostering collaborative working relationships and maintaining enduring partnerships with clients, consultants, and suppliers. These relationships form the foundation of the company's operational excellence and market reputation.

During this financial period, Ascia has experienced a period of planned marginal growth, increasing turnover from £34m to £38m.

Ascia Construction has maintained significant investment in staff training and process improvements throughout the period to enhance operational efficiency and service delivery. This commitment reflects the company's strategic priorities of delivering strong client value, ensuring operational profitability, and preserving long-term working capital sustainability.

Following the successful implementation of ISO 9001, 14001 and 45001 accreditations last year, Ascia Construction has developed and published its PPN 06/21 Carbon Reduction Plan Sustainability Report, setting out a clear strategy and targets to cut carbon emissions and work towards net zero.

The company aims to maintain financial stability by targeting a turnover range of £34million to £40 million as the business enters the 2025/2026 financial year.

ASCIA CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Principal risks and uncertainties

Health & Safety - The construction industry presents inherent operational risks, requiring rigorous management protocols. Ascia Construction prioritises health and safety governance above all other operational considerations.

To strengthen this commitment, the company has established an in-house Quality and Health and Safety function, appointing a highly qualified and experienced QHSE Compliance Manager to lead the development and implementation of enhanced controls and procedures. This investment ensures that the company maintains the highest standards in both quality and safety performance.

Ascia Construction maintains membership of Acclaim SSIP and holds Constructionline Gold accreditation, reflecting the company's demonstrated commitment to excellence in health and safety management.

- Economic and Political Uncertainty. Construction companies face a variety of economic risks that can impact their operations and profitability. These risks can stem from macroeconomic conditions, industry-specific challenges, and internal factors. All of these can cause market fluctuations, economic downturns, cost uncertainty, policy and contractual changes. During the last financial period the change in government and wars within Europe have led to periods of uncertainty and caused fluctuations with both costs and the availability of materials, while also stalling some client decision making. All such uncertainties have a knock-on effect to our projects, but by having variety in our client base we have been able to secure projects in sectors that are still flourishing despite these uncertainties.

Ascia tracks and monitors the economic and political environment so that the business can react effectively and promptly to any significant changes.

- Subcontractors and Suppliers - Ascia relies on the performance and professionalism of its subcontractors and supply chain to deliver results on its behalf. The company has a robust subcontractor and supplier approval process to ensure their subcontractors and suppliers are not only operating safely on site but are financially secure, and able to perform and deliver at the highest level.

- Staff Retention - The company's success depends fundamentally on the quality and commitment of its workforce. Ascia Construction has achieved an exceptionally low staff turnover rate through the creation of a collaborative team environment combined with competitive remuneration packages. The company continues to invest in staff development through apprenticeship programmes and higher education support, strengthening the capability and retention of its personnel.

Development and performance

The business finishes the year in a strong financial position with no borrowing, and a number of high-profile projects secured to take forward into 2025/2026, with 51% of forecast turnover secured prior to the start of the new financial period.

Ascia Construction reported a turnover of £38.3 million for the reporting period (2023/2024: £33.9 million), with gross profit of £2.4 million (2023/2024: £2.82 million). The company maintained a healthy operating net profit of £0.60 million (2023/2024: £0.62 million), with retained earnings now exceeding £2 million.

We have secured a solid foundation of staff with a very low level of turnover and in addition, have made several new key staff appointments to maintain and improve the whole of the business. Ascia has also continued to support several members of staff through apprenticeships and higher education whilst developing their skills within the workplace.

On behalf of the board

Mr R Emery
Director
20 January 2026
ASCIA CONSTRUCTION LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of general construction contractors within the industrial, commercial, educational and health and leisure sectors.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £224,556. The directors do not recommend payment of a final dividend.

Directors

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

Mr N V Cole
Mr R Emery
Auditor

In accordance with the company's articles, a resolution proposing that bk plus Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Energy and carbon report

No specific energy efficiency measures were implemented during the financial year.”

Statement of disclosure to auditor

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

On behalf of the board
Mr R Emery
Director
20 January 2026
ASCIA CONSTRUCTION LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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.

ASCIA CONSTRUCTION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ASCIA CONSTRUCTION LIMITED
- 5 -
Opinion

We have audited the financial statements of Ascia Construction Limited (the 'company') for the year ended 30 April 2025 which comprise the profit and loss account, 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 30 April 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' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

ASCIA CONSTRUCTION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ASCIA CONSTRUCTION LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

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

- certain disclosures of 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' r esponsibilities s tatement, 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.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Principles and the relevant tax compliance regulations for the company.

- We obtained an understanding of how the company is complying with these frameworks through discussions with management.

- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

ASCIA CONSTRUCTION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ASCIA CONSTRUCTION LIMITED (CONTINUED)
- 7 -

- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

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.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Hession C.A. (Senior Statutory Auditor)
For and on behalf of bk plus Audit Limited, Statutory Auditor
Chartered Certified Accountants
Azzurri House
Walsall Road
Aldridge
Walsall
WS9 0RB
England
20 January 2026
ASCIA CONSTRUCTION LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
Year
Period
ended
ended
30 April
30 April
2025
2024
Notes
£
£
Turnover
3
38,374,708
33,988,660
Cost of sales
(35,920,684)
(31,163,403)
Gross profit
2,454,024
2,825,257
Administrative expenses
(1,852,082)
(2,201,835)
Operating profit
4
601,942
623,422
Interest receivable and similar income
8
(5,748)
27,424
Interest payable and similar expenses
9
-
0
(23,066)
Profit before taxation
596,194
627,780
Tax on profit
10
117,489
565,932
Profit for the financial year
713,683
1,193,712

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

ASCIA CONSTRUCTION LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
Year
Period
ended
ended
2025
2024
£
£
Profit for the year
713,683
1,193,712
Other comprehensive income
-
-
Total comprehensive income for the year
713,683
1,193,712
ASCIA CONSTRUCTION LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
19,803
27,018
Current assets
Stocks
13
1,273,554
3,528,592
Debtors
14
4,568,246
4,935,588
Cash at bank and in hand
4,180,242
838,863
10,022,042
9,303,043
Creditors: amounts falling due within one year
15
(7,889,369)
(7,664,908)
Net current assets
2,132,673
1,638,135
Total assets less current liabilities
2,152,476
1,665,153
Provisions for liabilities
Deferred tax liability
17
4,951
6,755
(4,951)
(6,755)
Net assets
2,147,525
1,658,398
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
2,147,425
1,658,298
Total equity
2,147,525
1,658,398
The financial statements were approved by the board of directors and authorised for issue on 20 January 2026 and are signed on its behalf by:
Mr N V Cole
Mr R Emery
Director
Director
Company registration number 09965592 (England and Wales)
ASCIA CONSTRUCTION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
100
715,774
715,874
Period ended 30 April 2024:
Profit and total comprehensive income
-
1,193,712
1,193,712
Dividends
11
-
(251,188)
(251,188)
Balance at 30 April 2024
100
1,658,298
1,658,398
Year ended 30 April 2025:
Profit and total comprehensive income
-
713,683
713,683
Dividends
11
-
(224,556)
(224,556)
Balance at 30 April 2025
100
2,147,425
2,147,525
ASCIA CONSTRUCTION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
22
3,783,387
(495,642)
Interest paid
-
0
(23,066)
Income taxes (paid)/refunded
(183,498)
56,328
Net cash inflow/(outflow) from operating activities
3,599,889
(462,380)
Investing activities
Purchase of tangible fixed assets
(3,774)
(26,039)
Interest received
(5,748)
27,424
Net cash (used in)/generated from investing activities
(9,522)
1,385
Financing activities
Dividends paid
(248,988)
(243,898)
Net cash used in financing activities
(248,988)
(243,898)
Net increase/(decrease) in cash and cash equivalents
3,341,379
(704,893)
Cash and cash equivalents at beginning of year
838,863
1,543,756
Cash and cash equivalents at end of year
4,180,242
838,863
ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 13 -
1
Accounting policies
Company information

Ascia Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is Murrills House, 48 East Street, Portchester, Fareham, Hampshire, United Kingdom, PO16 9XS.

1.1
Basis of preparation

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

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

The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Ascia Construction Limited is a wholly owned subsidiary of Ascia Holdings Limited and the results of Ascia Construction Limited are included in the consolidated financial statements of Ascia Holdings Limited which are available from The Portico, Stansted Park, Rowlands Castle, Hampshire, PO9 6DX.

1.2
Turnover

Turnover represents amounts receivable for work done excluding VAT.

1.3
Tangible fixed assets

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:

Plant and equipment
33% on cost and 25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks

For incomplete contracts the value of work in progress reflects the partial performance of the contractual obligations. For such contracts work in progress reflects the accrual of the right to consideration by reference to the value of work performed.

1.5
Financial instruments

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

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -
Basic financial assets

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

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

Impairment of financial assets

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

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

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including 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 paymen ts 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. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 15 -
Other financial liabilities

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

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

Derecognition of financial liabilities

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

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

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

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

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

1.8
Leases
As lessee

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

ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
2
Judgements and key sources of estimation uncertainty

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.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Construction
38,374,708
33,988,660
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
38,374,708
33,988,660
2025
2024
£
£
Other revenue
Interest income
(5,748)
27,424
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Depreciation of tangible fixed assets
10,561
18,343
Loss on disposal of tangible fixed assets
428
2,399
Operating lease charges
57,317
66,137
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
18,585
17,700
ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 17 -
6
Employees

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

2025
2024
Number
Number
Directors
2
2
Site management
11
11
Construction management
5
4
Quantity surveyors
4
4
Technical
3
4
Finance and adminstration
6
6
Total
31
31

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,711,912
2,120,201
Social security costs
196,497
248,998
Pension costs
117,987
128,926
2,026,396
2,498,125
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
23,000
30,667
Company pension contributions to defined contribution schemes
43,294
36,154
66,294
66,821
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
(5,748)
27,424
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
-
0
23,066
ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
65,582
(568,560)
Adjustments in respect of prior periods
(181,267)
-
0
Total current tax
(115,685)
(568,560)
Deferred tax
Origination and reversal of timing differences
(1,804)
2,628
Total tax credit
(117,489)
(565,932)

The actual credit 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:

2025
2024
£
£
Profit before taxation
596,194
627,780
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
149,049
156,945
Tax effect of expenses that are not deductible in determining taxable profit
444
29,410
Tax effect of utilisation of tax losses not previously recognised
(85,715)
-
0
Adjustments in respect of prior years
(181,267)
-
0
Effect of change in corporation tax rate
-
0
(2,069)
Permanent capital allowances in excess of depreciation
1,804
(1,902)
Research and development tax credit
-
0
(749,828)
Tax at marginal rate
-
0
(1,116)
Deferred tax
(1,804)
2,628
Taxation credit for the year
(117,489)
(565,932)
11
Dividends
2025
2024
£
£
Interim paid
224,556
251,188
ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
12
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2024
36,871
13,584
21,073
71,528
Additions
3,774
-
0
-
0
3,774
Disposals
(2,450)
-
0
-
0
(2,450)
At 30 April 2025
38,195
13,584
21,073
72,852
Depreciation and impairment
At 1 May 2024
21,304
8,060
15,146
44,510
Depreciation charged in the year
7,698
1,381
1,482
10,561
Eliminated in respect of disposals
(2,022)
-
0
-
0
(2,022)
At 30 April 2025
26,980
9,441
16,628
53,049
Carrying amount
At 30 April 2025
11,215
4,143
4,445
19,803
At 30 April 2024
15,567
5,524
5,927
27,018
13
Stocks
2025
2024
£
£
Work in progress
1,273,554
3,528,592
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,472,920
3,271,398
Retention
1,232,139
1,086,780
Corporation tax recoverable
812,770
513,587
Amounts owed by group undertakings
548
641
Other debtors
35,548
41,339
Prepayments and accrued income
14,321
21,843
4,568,246
4,935,588
ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 20 -
15
Creditors: amounts falling due within one year
2025
2024
£
£
Retentions and accruals
3,751,843
2,573,076
Trade creditors
3,722,656
3,260,460
Taxation and social security
250,048
1,647,539
Other creditors
25,762
43,318
Accruals and deferred income
139,060
140,515
7,889,369
7,664,908
16
Finance lease obligations

At end of the accounting period the company was committed, under non-cancellable operating leases, to future payments of £23,654 (2024 : £34,553)

17
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
4,951
6,755
2025
Movements in the year:
£
Liability at 1 May 2024
6,755
Credit to profit or loss
(1,804)
Liability at 30 April 2025
4,951

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
117,987
128,926

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.

ASCIA CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 21 -
19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100

Shares rank equally for voting rights, dividends and any distribution made.

20
Ultimate controlling party

Ascia Construction Limited is wholly owned by Ascia Holdings Limited whose registered office is Murrills House, 48 East Street, Portchester, Fareham, Hampshire, PO16 9XS and principal place of business is The Portico, Stansted House, Stansted Park, Rowlands Castle, Hampshire, PO9 6DX.

The company is controlled by Ascia Holdings Limited, the ultimate parent company, the directors do not consider their to be an ultimate controlling party.

21
Prior year change of accounting period

The company extended its prior year to a 16 month period ending April 2024 per the company's strategic planning.

22
Cash generated from/(absorbed by) operations
2025
2024
£
£
Profit after taxation
713,683
1,193,712
Adjustments for:
Taxation credited
(117,489)
(565,932)
Finance costs
-
0
23,066
Investment income
5,748
(27,424)
Loss on disposal of tangible fixed assets
428
2,399
Depreciation and impairment of tangible fixed assets
10,561
18,343
Movements in working capital:
Decrease/(increase) in stocks
2,255,038
(739,711)
Decrease/(increase) in debtors
666,525
(2,359,621)
Increase in creditors
248,893
1,959,526
Cash generated from/(absorbed by) operations
3,783,387
(495,642)
23
Analysis of changes in net funds
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
838,863
3,341,379
4,180,242
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