Company registration number 14208271 (England and Wales)
CIVIC PLUS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Tree Accountancy Limited
Chartered Certified Accountants & Registered Auditors
3rd Floor
Eastgate
Castle Street
Castlefield
Manchester
M3 4LZ
CIVIC PLUS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Profit and loss account
8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Company statement of changes in equity
13
Company statement of cash flows
15
Notes to the financial statements
16 - 30
CIVIC PLUS LIMITED
COMPANY INFORMATION
Directors
Mr J Broster
Mr S Edwards
Mr D Miller
Mr S O'Malley
Company number
14208271
Registered office
Carver's Warehouse
77 Dale Street
Manchester
Greater Manchester
M1 2HG
Auditor
Tree Accountancy Limited
Chartered Certified Accountants & Registered Auditors
3rd Floor, Eastgate
Castle Street
Castlefield
M3 4LZ
CIVIC PLUS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -

The directors present the strategic report for the year ended 28 February 2025.

Fair review of the business

Civic Plus Group, branded as CIVIC, is an ESG-led consultancy delivering design and advisory services for the physical and economic regeneration of towns and cities across the UK and Ireland. Our approach is cross disciplinary, integrating structural, civil, and transport engineering with specialist services in MEP, geo-consultancy, environmental and sustainability consultancy, and built heritage. This enables us to act as System Thinkers in the Built Environment - a proposition that continues to resonate strongly with clients and partners, as reflected in our year-end results.

Civic is a values-led group with a strong identity and collaborative culture. We are committed to technical excellence and a long-term focus on delivering positive environmental and social outcomes through our work. Over the past year, we have grown our capabilities through both organic development and strategic acquisitions, expanding our reach and strengthening our resilience across the group.

We are now in the third year of our five-year plan to create a group with an EBITDA in excess of £5 million, building on the strong foundations laid in previous years. Following a 7% increase in group's turnover and EBITDA margin increased by 29% YoY in FY24, we have continued to build momentum. In FY25, group turnover increased by 23% and EBITDA margin improved by 45% YoY with further improvements expected as we integrate newly acquired businesses and realise operational efficiencies at scale.

Business Performance

In the year to 28 February 2025, the Group incorporated Civic Heritage Ltd and acquired two complementary businesses: Watt Energy & Consulting Engineers Ltd and New Practice Ltd. These additions enhance our expertise in sustainability, MEP design, and architectural services, creating stronger value for our clients and greater resilience across the group.

Civic Engineers Ltd recorded a 33% improvement in EBITDA margin YoY, reflecting a recovery from the previous year’s second half margin dip caused by market-related project delays. Operational improvements and a more stable delivery environment supported this year’s improved performance.

Civic Earth, which began trading in July 2023, has continued to build on its strong start. The business has progressed towards its £1 million revenue target for FY25, supported by a strong pipeline and high client engagement. Bid success rates and collaboration with Civic Engineers remain high, sustaining its rapid growth trajectory.

Civic Engineers’ Dublin office, launched in FY24, continues to develop its project pipeline and client base in the Republic of Ireland, offering the same core engineering disciplines as its UK counterpart and strengthening our geographic reach.

Our central Operations Team now supports all group companies, funded through a centralised management charge. This team plays a critical role in integration, governance, and performance monitoring, and is evolving to provide the capacity and capabilities needed for a group of greater scale, matching our significant ambition.

Principal Risks and Uncertainties

The most significant risk to group performance remains the potential for a slowdown in project pipeline due to external market factors - including access to development funding and the implementation of the Building Safety Act (2024) in England and Wales.

While market conditions remained subdued in the first half of FY25, there was a notable recovery in the second half as inflation eased and interest rates began to fall. This shift supported improved financial performance across the group.

Regular pipeline reviews across all levels of the business help us spot risks and opportunities early, optimise resources, cut unnecessary costs, and stay agile in a changing market. These reviews form a core part of our strategic planning and financial discipline.

CIVIC PLUS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
Key Performance Indicators (KPIs)

The Group tracks a consistent set of financial and operational indicators to guide performance management and strategic decision-making. These include fee income growth, EBITDA and profit margins, project pipeline strength, bid conversion rates, debtor days, and employee retention and engagement.

As the Group continues to grow and integrate newly acquired businesses, our reporting focus has shifted from entity-specific figures to high-level KPIs that reflect progress at a group-wide level. This approach provides clearer benchmarking, greater insight, and better alignment with our long-term objectives.

In FY25, group's turnover increased by 23%, driven by both organic growth and contributions from recent acquisitions. EBITDA margin improved by 45% YoY, marking continued progress toward our five-year profitability target.

Headcount increased by 15% over the year, with low voluntary staff turnover, underscoring the stability and strength of our team and culture.

Future Outlook

The year ahead is expected to deliver further growth, particularly from Civic Earth Ltd, Civic MEP Ltd, and Civic Heritage Ltd. Additional acquisitions remain under consideration where they align with our strategic objectives and can strengthen our capabilities or open new markets.

The employee bonus scheme introduced in FY24 for Civic Engineers is now embedded and will be extended across the wider group in FY26, aligning incentives with business performance.

We will continue to focus on tight operational control, effective cost management, and unlocking the benefits of integration and scale. These actions are central to our ambition to achieve sustainable growth and long-term profitability, while maintaining our purpose-driven approach to shaping healthier, more resilient places.

On behalf of the board

Mr J Broster
Director
27 January 2026
CIVIC PLUS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -

The directors present their annual report and financial statements for the year ended 28 February 2025.

Principal activities

The principal activity of the company and group continued to be that of consulting engineers.

Directors

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

Mr J Broster
Mr S Edwards
Ms M McDowell
(Resigned 24 October 2025)
Mr D Miller
Mr S O'Malley

Results and dividend

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

Ordinary dividends were paid amounting to £140,980 (2024 - £nil). The directors do not recommend payment of a further dividend.

Research and development

The group continues to perform research and development.

Post reporting date events

There have been no significant events affecting the group since the year end.

Auditor

The auditor, Tree Accountancy Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

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 group and company, and of the profit or loss of the group 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;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CIVIC PLUS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
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 auditor of the company 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 auditor of the company is aware of that information.

On behalf of the board
Mr J Broster
Director
27 January 2026
CIVIC PLUS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CIVIC PLUS LIMITED
- 5 -
Opinion

We have audited the financial statements of Civic Plus Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company 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 group's and the parent company's affairs as at 28 February 2025 and of the group's 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 group and parent 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 group's and parent 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:

- T he 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.

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

In the light of the knowledge and understanding of the group and the parent company and their 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company 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 parent 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 parent 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.

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.

- 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 discussions with directors, and from our commercial knowledge and experience;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the 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 enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

CIVIC PLUS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CIVIC PLUS LIMITED
- 7 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions; and

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and

- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 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 the members 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, for our audit work, for this report, or for the opinions we have formed.

Other matters

Included within group's accounts is a subsidiary registered in Republic of Ireland and therefore this does not form part of our audit. The subsidiary has been audited by an auditor registered in Republic of Ireland. Our opinion on the financial statements for the year ended 28 February 2025 is not modified in respect of this matter.

Nicholas Ian Hynes FCCA
Senior Statutory Auditor
For and on behalf of Tree Accountancy Limited
27 January 2026
Chartered Certified Accountants & Registered Auditors
3rd Floor, Eastgate
Castle Street
Castlefield
M3 4LZ
CIVIC PLUS LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
2025
2024
Notes
£
£
Turnover
2
15,296,903
12,427,004
Cost of sales
(11,438,386)
(9,853,467)
Gross profit
3,858,517
2,573,537
Administrative expenses
(3,055,997)
(2,200,120)
Other operating income
37,156
34,805
Operating profit
4
839,676
408,222
Interest payable and similar expenses
7
(78,050)
(26,442)
Profit before taxation
761,626
381,780
Tax on profit
8
98,875
21,017
Profit for the financial year
860,501
402,797
Profit for the financial year is attributable to:
- Owners of the parent company
841,928
409,272
- Non-controlling interests
18,573
(6,475)
860,501
402,797
CIVIC PLUS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 9 -
2025
2024
£
£
Profit for the year
860,501
402,797
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
860,501
402,797
Total comprehensive income for the year is attributable to:
- Owners of the parent company
841,928
409,272
- Non-controlling interests
18,573
(6,475)
860,501
402,797
CIVIC PLUS LIMITED
GROUP BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
940,003
-
0
Tangible assets
11
270,369
280,717
Investments
12
155,194
930
1,365,566
281,647
Current assets
Stocks
13
235,744
156,748
Debtors
14
4,693,120
3,366,933
Cash at bank and in hand
1,482,935
1,215,896
6,411,799
4,739,577
Creditors: amounts falling due within one year
15
(3,427,273)
(2,065,249)
Net current assets
2,984,526
2,674,328
Total assets less current liabilities
4,350,092
2,955,975
Creditors: amounts falling due after more than one year
16
(1,166,824)
(499,354)
Provisions for liabilities
Deferred tax liability
18
66,266
53,140
(66,266)
(53,140)
Net assets
3,117,002
2,403,481
Capital and reserves
Called up share capital
20
102
102
Share premium account
49,998
49,998
Profit and loss reserves
3,054,554
2,359,606
Equity attributable to owners of the parent company
3,104,654
2,409,706
Non-controlling interests
12,348
(6,225)
Total equity
3,117,002
2,403,481
The financial statements were approved by the board of directors and authorised for issue on 27 January 2026 and are signed on its behalf by:
27 January 2026
Mr J Broster
Director
Company registration number 14208271 (England and Wales)
CIVIC PLUS LIMITED
COMPANY BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
35,025
-
0
Investments
12
156,866
1,702
191,891
1,702
Current assets
Debtors
14
1,090,017
-
0
Creditors: amounts falling due within one year
15
(241,497)
(52,210)
Net current assets/(liabilities)
848,520
(52,210)
Total assets less current liabilities
1,040,411
(50,508)
Creditors: amounts falling due after more than one year
16
(1,145,797)
-
Net liabilities
(105,386)
(50,508)
Capital and reserves
Called up share capital
20
102
102
Profit and loss reserves
(105,488)
(50,610)
Total equity
(105,386)
(50,508)

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £86,102 (2024 - £1,790 loss).

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

The financial statements were approved by the board of directors and authorised for issue on 27 January 2026 and are signed on its behalf by:
27 January 2026
Mr J Broster
Director
Company registration number 14208271 (England and Wales)
CIVIC PLUS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
Balance at 1 March 2023
102
49,998
1,950,334
2,000,434
-
2,000,434
Year ended 28 February 2024:
Profit and total comprehensive income
-
-
409,272
409,272
(6,475)
402,797
Purchase of shares in subsidiary from non-controlling interest
-
-
-
-
250
250
Balance at 28 February 2024
102
49,998
2,359,606
2,409,706
(6,225)
2,403,481
Year ended 28 February 2025:
Profit and total comprehensive income
-
-
841,928
841,928
18,573
860,501
Dividends
9
-
-
(146,980)
(146,980)
-
(146,980)
Balance at 28 February 2025
102
49,998
3,054,554
3,104,654
12,348
3,117,002
CIVIC PLUS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2023
102
(48,820)
(48,718)
Year ended 28 February 2024:
Loss and total comprehensive income for the year
-
(1,790)
(1,790)
Balance at 28 February 2024
102
(50,610)
(50,508)
Year ended 28 February 2025:
Profit and total comprehensive income
-
86,102
86,102
Dividends
9
-
(140,980)
(140,980)
Balance at 28 February 2025
102
(105,488)
(105,386)
CIVIC PLUS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
23
841,503
(81,583)
Interest paid
(78,050)
(26,442)
Income taxes refunded
112,001
5,421
Net cash inflow/(outflow) from operating activities
875,454
(102,604)
Investing activities
Purchase of intangible assets
(968,711)
-
Purchase of tangible fixed assets
(132,185)
(85,071)
Proceeds from disposal of tangible fixed assets
(43,781)
45,162
Proceeds from disposal of investments
(154,264)
(850)
Repayment of loans
(11,995)
(124,858)
Net cash used in investing activities
(1,310,936)
(165,617)
Financing activities
Repayment of borrowings
(840)
38,099
Repayment of bank loans
841,908
473,833
Purchase of shares in subsidiary from non-controlling interest
-
250
Dividends paid to equity shareholders
(146,980)
-
0
Net cash generated from financing activities
694,088
512,182
Net increase in cash and cash equivalents
258,606
243,961
Cash and cash equivalents at beginning of year
1,215,896
971,935
Cash and cash equivalents at end of year
1,474,502
1,215,896
Relating to:
Cash at bank and in hand
1,482,935
1,215,896
Bank overdrafts included in creditors payable within one year
(8,433)
-
CIVIC PLUS LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
(1,151,627)
1,600
Interest paid
(42,352)
-
0
Net cash (outflow)/inflow from operating activities
(1,193,979)
1,600
Investing activities
Purchase of intangible assets
(36,548)
-
0
Proceeds from disposal of investments
(155,164)
(1,600)
Dividends received
140,980
-
0
Net cash used in investing activities
(50,732)
(1,600)
Financing activities
Repayment of bank loans
1,385,691
-
Dividends paid to equity shareholders
(140,980)
-
Net cash generated from financing activities
1,244,711
-
Net increase in cash and cash equivalents
-
-
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
-
0
-
0
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 16 -
1
Accounting policies
Company information

Civic Plus Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Carver's Warehouse, 77 Dale Street, Manchester, Greater Manchester, M1 2HG. The company's registration number is 14208271.

The group consists of Civic Plus Limited and all of its subsidiaries.

1.1
Accounting convention

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

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

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

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

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

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

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

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 17 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Civic Plus Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 28 February 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group 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.

1.5
Turnover

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.

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 18 -
1.6
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.7
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business 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 2 or 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.

1.8
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
20% straight line
Fixtures and fittings
20% straight line
Computers
20% straight line

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 recognised in the profit and loss account.

1.9
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 19 -

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 group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

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

1.10
Impairment of fixed assets

At each reporting period end date, the group 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.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

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.

1.11
Work in progress
Stocks and work in progress are stated at their estimated selling prices less costs to complete. Costs comprises direct materials and the relevant proportion of direct labout costs and overheads that have been incurred up to the appropriate stage of completion.
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 20 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.12
Cash and cash equivalents

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.

1.13
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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

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 m ethod 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 group 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.

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 21 -
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 group 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. 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.

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 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 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 group's contractual obligations expire or are discharged or cancelled.

1.14
Equity instruments

Equity instruments issued by the group 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 group.

1.15
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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 22 -
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 if, and only if, there is 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.

1.16
Employee benefits

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

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

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

1.17
Retirement benefits

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

1.18
Leases

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 d asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.19
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Turnover
2025
2024
£
£
Turnover analysed by class of business
Sales
15,296,903
12,427,004
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
2
Turnover
(Continued)
- 23 -
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom & Ireland
15,296,903
12,427,004
3
Exceptional item
2025
2024
£
£
Expenditure
Exceptional item - Admin costs (incl in Admin range)
51,534
135,317
51,534
135,317
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging:
Exchange losses
6,134
113
Research and development costs
1,100,000
662,146
Depreciation of owned tangible fixed assets
142,533
144,645
Loss on disposal of tangible fixed assets
43,781
-
Amortisation of intangible assets
28,708
12,500
Operating lease charges
656,446
546,759
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's subsidiaries
35,000
18,000
6
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
163
142
-
0
-
0
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
6
Employees
(Continued)
- 24 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
8,734,303
7,455,327
-
0
-
0
Social security costs
17,492
-
-
-
Pension costs
593,998
526,480
-
0
-
0
9,345,793
7,981,807
-
0
-
0
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
78,050
26,442
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
(106,600)
-
0
Deferred tax
Origination and reversal of timing differences
7,725
(21,017)
Total tax credit
(98,875)
(21,017)

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
761,626
381,780
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
190,407
95,445
Research and development tax credit
(187,104)
(95,445)
Under/(over) provided in prior years
(109,903)
-
0
Deferred tax
7,725
(21,017)
Taxation credit
(98,875)
(21,017)
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 25 -
9
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
140,980
-
10
Intangible fixed assets
Group
Goodwill
£
Cost
At 29 February 2024
25,000
Additions
968,711
At 28 February 2025
993,711
Amortisation and impairment
At 29 February 2024
25,000
Amortisation charged for the year
28,708
At 28 February 2025
53,708
Carrying amount
At 28 February 2025
940,003
At 28 February 2024
-
0
Company
Goodwill
£
Cost
At 29 February 2024
-
0
Additions
36,548
At 28 February 2025
36,548
Amortisation and impairment
At 29 February 2024
-
0
Amortisation charged for the year
1,523
At 28 February 2025
1,523
Carrying amount
At 28 February 2025
35,025
At 28 February 2024
-
0

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 26 -
11
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 29 February 2024
-
0
640,344
-
0
640,344
Additions
-
0
95,602
12,083
107,685
Business combinations
616
13,660
10,224
24,500
At 28 February 2025
616
749,606
22,307
772,529
Depreciation and impairment
At 29 February 2024
-
0
359,627
-
0
359,627
Depreciation charged in the year
270
135,098
7,165
142,533
At 28 February 2025
270
494,725
7,165
502,160
Carrying amount
At 28 February 2025
346
254,881
15,142
270,369
At 28 February 2024
-
0
280,717
-
0
280,717
The company had no tangible fixed assets at 28 February 2025 or 28 February 2024.
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
£
£
£
£
Unlisted investments
155,194
930
156,866
1,702
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 29 February 2024
930
Additions
154,264
At 28 February 2025
155,194
Carrying amount
At 28 February 2025
155,194
At 28 February 2024
930
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
12
Fixed asset investments
(Continued)
- 27 -
Movements in fixed asset investments
Company
Investments
£
Cost or valuation
At 29 February 2024
1,702
Additions
155,164
At 28 February 2025
156,866
Carrying amount
At 28 February 2025
156,866
At 28 February 2024
1,702
13
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Work in progress
235,744
156,748
-
-
14
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
4,006,204
2,773,383
-
0
-
0
Corporation tax recoverable
38,616
38,616
-
0
-
0
Amounts owed by group undertakings
-
9,153
-
-
Other debtors
37,617
236,091
1,090,017
-
0
Prepayments and accrued income
610,683
309,690
-
0
-
0
4,693,120
3,366,933
1,090,017
-
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 28 -
15
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
17
316,784
133,913
239,894
-
0
Other borrowings
17
73,935
74,775
-
0
-
0
Trade creditors
787,999
289,027
-
0
-
0
Other taxation and social security
1,113,988
750,896
-
-
Other creditors
323,724
393,004
1,603
52,210
Accruals and deferred income
810,843
423,634
-
0
-
0
3,427,273
2,065,249
241,497
52,210
16
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
17
1,166,824
499,354
1,145,797
-
0
17
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
1,475,175
633,267
1,385,691
-
0
Bank overdrafts
8,433
-
0
-
0
-
0
Other loans
73,935
74,775
-
0
-
0
1,557,543
708,042
1,385,691
-
Payable within one year
390,719
208,688
239,894
-
0
Payable after one year
1,166,824
499,354
1,145,797
-
0
18
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
66,266
53,140
The company has no deferred tax assets or liabilities.
CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
18
Deferred taxation
(Continued)
- 29 -
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 29 February 2024
53,140
-
Charge to profit or loss
13,126
-
Liability at 28 February 2025
66,266
-
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
593,998
526,480

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

20
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of 0.1p each
101,843
101,843
102
102
21
Operating lease commitments
Lessee

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,259,058 (2024 - £450,278).

22
Related party transactions

Included within debtors is a balance of £136,853 (2024 - £124,858) owing from directors of the company. Interest is charged at the normal market rate.

CIVIC PLUS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 30 -
23
Cash generated from/(absorbed by) group operations
2025
2024
£
£
Profit after taxation
860,501
402,797
Adjustments for:
Taxation credited
(98,875)
(21,017)
Finance costs
78,050
26,442
Loss on disposal of tangible fixed assets
43,781
-
Amortisation and impairment of intangible assets
28,708
12,500
Depreciation and impairment of tangible fixed assets
142,533
144,645
Movements in working capital:
(Increase)/decrease in stocks
(78,996)
53,508
(Increase)/decrease in debtors
(1,314,192)
44,935
Increase/(decrease) in creditors
1,179,993
(745,393)
Cash generated from/(absorbed by) operations
841,503
(81,583)
24
Analysis of changes in net debt - company
29 February 2024
Cash flows
28 February 2025
£
£
£
Borrowings excluding overdrafts
-
(1,385,691)
(1,385,691)
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