Company registration number 01176225 (England and Wales)
A COPELAND GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
A COPELAND GROUP LIMITED
COMPANY INFORMATION
Directors
Mrs A C Copeland-Anthony
Mrs A F Copeland
Mr M Middleton
Mr A Brierley
Secretary
Mrs A F Copeland
Company number
01176225
Registered office
Nile Street
Ashton-Under-Lyne
OL7 0NZ
Auditor
Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
BL1 4BY
A COPELAND GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 24
A COPELAND GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 1 -

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

Review of the business

A Copeland Group Limited is a privately owned company specialising in electrical building services and fire alarm installations. Based in the North West of England, the company operates primarily on a regional basis on both public and private sector contracts.

The Company has had a successful year, whilst turnover has reduced in the past 12 month period to £10,929,583 (2024: 15 Months £17,246,121) net profit margins have increased by 3% to 13%, and gross profit margin increasing 16% to 22%. Cash balances have been maintained at circa £2.5m and shareholder funds have increased.

The order book for 2025 is strong and we aim as a minimum to maintain our turnover, profitability and cash positions.

The company is committed to ongoing investment in our employees, their development and training and in encouraging new entrants into the industry via our apprenticeship scheme. It is our belief that our team are what sets apart the quality of our installations.

The company continues to prioritise health and safety and are pleased to have maintained our excellent record in this respect throughout the year.

We have continued to develop our working relationships with both end clients and with main contractors, with repeat customers making up the significant part of our trade.

Principal risks and uncertainties

Working within the construction industry carries certain risks, all of which the company works continually to try to mitigate;

Main Contractors Liquidity

The company works with a number of main contractors, all of which, we have ongoing and very positive relationships with. We carry out periodic credit assessments on an ongoing basis.

Material Price Fluctuations

The company is exposed to material price fluctuations, many of which are ordinary inflationary fluctuations which it monitors, some however, such as the recent increases in copper prices due to a landslide at a large copper mine, are less predictable. In these cases we work with our suppliers to try to mitigate any impact as far as possible.

Employee Retention

The high quality service that the company strives to deliver is reliant on our long serving and skilled workforce. The wellbeing and retention of our team is a key priority.

Health and Safety

We have maintained our excellent health and safety record throughout the year and continue to work closely with our health and safety consultants to ensure that a safe culture is maintained.

Competitor Risk

The company continues to prioritise the efficiency of our project delivery and endeavours to provide a very high quality service with a skilled workforce, whilst also working with suppliers to deliver best value to our clients.

A COPELAND GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 2 -

Future Developments

Looking forward, the company has a strong order book for 2025/2026. We aim to continue high standards of practice whilst looking for ways to control costs and maintain profit margins.

On behalf of the board

Mrs A C Copeland-Anthony
Director
17 February 2026
A COPELAND GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 3 -

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

Principal activities

The principal activity of the company continued to be the provision of design, management and installation solutions for the UK construction industry.

Results and dividends

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

Ordinary dividends were paid amounting to £900,000. The directors do not recommend payment of a further dividend.

Directors

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

Mrs A C Copeland-Anthony
Mrs A F Copeland
Mr M Middleton
Mr A Brierley
Auditor

The auditor, Barlow Andrews LLP, was deemed to be reappointed under section 487(2) of the Companies Act 2006.

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.

Medium-sized companies exemption

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

On behalf of the board
Mrs A C Copeland-Anthony
Director
17 February 2026
A COPELAND GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 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; 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.

A COPELAND GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A COPELAND GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of A Copeland Group Limited (the 'company') for the year ended 31 May 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 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.

A COPELAND GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A COPELAND GROUP 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.

- 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 other management, 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 inspecting legal correspondence; 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.

A COPELAND GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A COPELAND GROUP LIMITED (CONTINUED)
- 7 -

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;

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

- understanding the design of the company’s remuneration policies.

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;

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

- investigated the rationale behind significant or unusual transactions.

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;

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

- reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors.

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

Alison Cornes (Senior Statutory Auditor)
For and on behalf of Barlow Andrews LLP, Statutory Auditor
Carlyle House
78 Chorley New Road
Bolton
17 February 2026
A COPELAND GROUP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
Year
Period
ended
ended
31 May
31 May
2025
2024
Notes
£
£
Turnover
3
10,929,583
17,246,121
Cost of sales
(8,546,353)
(14,533,339)
Gross profit
2,383,230
2,712,782
Administrative expenses
(954,503)
(964,804)
Operating profit
4
1,428,727
1,747,978
Interest receivable and similar income
7
44,769
42,124
Interest payable and similar expenses
8
(23,654)
(28,677)
Profit before taxation
1,449,842
1,761,425
Tax on profit
9
(394,328)
(405,017)
Profit for the financial year
1,055,514
1,356,408

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

A COPELAND GROUP LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
365,798
394,433
Investments
12
2
2
365,800
394,435
Current assets
Stocks
14
15,623
15,623
Debtors
15
2,540,992
2,949,166
Cash at bank and in hand
2,447,883
2,585,907
5,004,498
5,550,696
Creditors: amounts falling due within one year
16
(3,630,121)
(4,380,718)
Net current assets
1,374,377
1,169,978
Total assets less current liabilities
1,740,177
1,564,413
Creditors: amounts falling due after more than one year
17
(231,843)
(242,293)
Provisions for liabilities
Deferred tax liability
19
(69,807)
(39,107)
(69,807)
(39,107)
Net assets
1,438,527
1,283,013
Capital and reserves
Called up share capital
21
50,000
50,000
Profit and loss reserves
1,388,527
1,233,013
Total equity
1,438,527
1,283,013

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

The financial statements were approved by the board of directors and authorised for issue on 17 February 2026 and are signed on its behalf by:
Mrs A C Copeland-Anthony
Director
Company registration number 01176225 (England and Wales)
A COPELAND GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2023
50,000
1,136,605
1,186,605
Period ended 31 May 2024:
Profit and total comprehensive income
-
1,356,408
1,356,408
Dividends
10
-
(1,260,000)
(1,260,000)
Balance at 31 May 2024
50,000
1,233,013
1,283,013
Year ended 31 May 2025:
Profit and total comprehensive income
-
1,055,514
1,055,514
Dividends
10
-
(900,000)
(900,000)
Balance at 31 May 2025
50,000
1,388,527
1,438,527
A COPELAND GROUP LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
1,208,724
2,684,470
Interest paid
(23,654)
(28,677)
Income taxes paid
(439,941)
(105,779)
Net cash inflow from operating activities
745,129
2,550,014
Investing activities
Purchase of tangible fixed assets
(7,655)
-
0
Proceeds from disposal of tangible fixed assets
300
94,922
Movement on loans
40,000
(20,744)
Interest received
44,769
42,124
Net cash generated from investing activities
77,414
116,302
Financing activities
Repayment of borrowings
-
0
(400,000)
Payment of finance leases obligations
(60,567)
(149,892)
Dividends paid
(900,000)
(1,260,000)
Net cash used in financing activities
(960,567)
(1,809,892)
Net (decrease)/increase in cash and cash equivalents
(138,024)
856,424
Cash and cash equivalents at beginning of year
2,585,907
1,729,483
Cash and cash equivalents at end of year
2,447,883
2,585,907
A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 12 -
1
Accounting policies
Company information

A Copeland Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nile Street, Ashton-Under-Lyne.

1.1
Reporting period

The company amended its financial period in the comparative period to bring it in line with its parent company. Therefore the comparative 15 month period is not entirely comparable with the current financial year.

1.2
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.

1.3
Going concern

The directors have every expectation that the company will continue in operational existence for the foreseeable true future. At the time of approving the financial statements we have not only a number of ongoing contracts, but have secured a considerable number of orders for the coming year.

The company has maintained its longstanding relationships with a number of Main Contractors and End Clients, has maintained its accreditations with NICEIC, BAFE, CHAS, Constructionline, Safe Contractor and Cyber Essential.

The directors believe that sufficient funds are in place to meet all liabilities as they are expected to fall due over the next twelve months, leading to the conclusion that there are no material uncertainties over adopting a going concern basis at the time of signing the financial statements.

1.4
Turnover

Turnover in the profit and loss account represents the total amount receivable for construction services provided during the year, excluding Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced.

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

1.5
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.

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 13 -

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
15% per annum reducing balance
Fixtures and fittings
20% per annum reducing balance
Motor vehicles
25% per annum reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

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

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

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated using the FIFO method.

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.

1.9
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 14 -

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
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.

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.

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.

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 15 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies 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.

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.

Derecognition of financial liabilities

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

1.12
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.13
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.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense,.

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

1.15
Retirement benefits

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

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 16 -
1.16
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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

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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Amounts recoverable on long term contracts

Profit on long term contracts is recognised in the profit or loss account based on the amount of chargeable work carried out by the end of the financial period less any amounts already invoiced to the customer. A level of judgement is applied in assessing the likely overall outcome of the project.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Construction Contracts
10,929,583
17,246,121
2025
2024
£
£
Other revenue
Interest income
44,769
42,124
A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 17 -
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
16,000
11,000
Depreciation of tangible fixed assets
104,562
101,482
Loss/(profit) on disposal of tangible fixed assets
21
(6,465)
5
Employees

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

2025
2024
Number
Number
Cost of sales
42
45
Administration
4
5
Directors
4
2
Total
50
52

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,072,411
3,649,742
Social security costs
220,072
315,851
Pension costs
56,777
38,411
3,349,260
4,004,004
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
368,586
144,705
Company pension contributions to defined contribution schemes
2,700
-
371,286
144,705
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
118,177
N/a
A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 18 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
44,769
42,124
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
45
182
Other interest on financial liabilities
-
0
16,592
45
16,774
Other finance costs:
Interest on finance leases and hire purchase contracts
23,609
11,903
23,654
28,677
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
364,441
420,504
Adjustments in respect of prior periods
(813)
89
Total current tax
363,628
420,593
Deferred tax
Origination and reversal of timing differences
30,700
(15,576)
Total tax charge
394,328
405,017
A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
9
Taxation
(Continued)
- 19 -

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

2025
2024
£
£
Profit before taxation
1,449,842
1,761,425
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 24.60%)
362,461
433,311
Tax effect of expenses that are not deductible in determining taxable profit
(1,882)
5,720
Adjustments in respect of prior years
(813)
89
Permanent capital allowances in excess of depreciation
34,562
(34,103)
Taxation charge for the year
394,328
405,017
10
Dividends
2025
2024
£
£
Final paid
900,000
1,260,000

Dividends of £500,000 (PY: £1,200,000) were paid to the parent company, ACGL Holdings Ltd.

In the prior year, dividends of £60,000 were paid to a director.

11
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2024
94,587
146,847
571,364
812,798
Additions
-
0
7,655
68,593
76,248
Disposals
-
0
-
0
(9,926)
(9,926)
At 31 May 2025
94,587
154,502
630,031
879,120
Depreciation and impairment
At 1 June 2024
86,199
137,831
194,335
418,365
Depreciation charged in the year
1,258
2,404
100,900
104,562
Eliminated in respect of disposals
-
0
-
0
(9,605)
(9,605)
At 31 May 2025
87,457
140,235
285,630
513,322
A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
11
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
(Continued)
- 20 -
Carrying amount
At 31 May 2025
7,130
14,267
344,401
365,798
At 31 May 2024
8,388
9,016
377,029
394,433

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
282,527
343,662
12
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
13
2
2
A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 21 -
13
Subsidiaries

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

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
ACEL Sub1 Limited
Nile Street, West Side, Ashton-Under-Lyne
Dormant
Ordinary
100.00
ACEL Sub2 Limited
Nile Street, West Side, Ashton-Under-Lyne
Dormant
Ordinary
100.00
14
Stocks
2025
2024
£
£
Finished goods and goods for resale
15,623
15,623
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
750,960
1,060,908
Gross amounts owed by contract customers
1,457,997
1,426,770
Corporation tax recoverable
20,250
-
0
Other debtors
263,785
461,488
Prepayments and accrued income
48,000
-
0
2,540,992
2,949,166
16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
18
67,053
48,577
Trade creditors
1,229,162
1,860,016
Amounts owed to group undertakings
281,067
242,317
Corporation tax
364,441
420,504
Other taxation and social security
58,898
79,058
Deferred income
1,259,837
1,542,071
Other creditors
13,386
14,526
Accruals
356,277
173,649
3,630,121
4,380,718

Creditors falling due within one year totalling £67,053 (2024: £48,577) are secured over the assets to which they relate to.

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 22 -
17
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
18
231,843
242,293

Creditors falling due within one year totalling £231,843 (2024: £242,293) are secured over the assets to which they relate to.

18
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
67,053
48,577
In two to five years
231,843
242,293
298,896
290,870

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. The average lease term is 36 months.

19
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
69,807
39,107
2025
Movements in the year:
£
Liability at 1 June 2024
39,107
Charge to profit or loss
30,700
Liability at 31 May 2025
69,807

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

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 23 -
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
56,777
38,411

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.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
30,000
30,000
30,000
30,000
B Ordinary shares of £1 each
20,000
20,000
20,000
20,000
50,000
50,000
50,000
50,000

All shares rank pari passu.

22
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
47,755
48,857
Years 2-5
69,727
116,155
After 5 years
-
0
1,327
117,482
166,339
23
Related party transactions

During the year, the company made purchases of £2,393 (2024: £1,890) from a company with common directorship. A balance of £384 (2024: £360) was owed at year end, included in trade creditors.

During the year, a close family member of a director was remunerated £52,135.

24
Directors' transactions

During the comparative period, the company made two new advances to its directors with the amounts due to the company at the balance sheet date being £6 0,000 (2024: £80,000). These advances are repayable on demand and no interest is levied due to the nature of these balances.

A COPELAND GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 24 -
25
Ultimate controlling party

The immediate and ultimate parent company is ACGL Holdings Ltd.

Whilst there is no single ultimate controlling party, the company remains under the ultimate control of the Copeland family.

26
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,055,514
1,356,408
Adjustments for:
Taxation charged
394,328
405,017
Finance costs
23,654
28,677
Investment income
(44,769)
(42,124)
Loss/(gain) on disposal of tangible fixed assets
21
(6,465)
Depreciation and impairment of tangible fixed assets
104,562
101,482
Movements in working capital:
Decrease/(increase) in debtors
388,424
(128,189)
(Decrease)/increase in creditors
(430,776)
725,206
(Decrease)/increase in deferred income
(282,234)
244,458
Cash generated from operations
1,208,724
2,684,470
27
Analysis of changes in net funds
1 June 2024
Cash flows
New leases
31 May 2025
£
£
£
£
Cash at bank and in hand
2,585,907
(138,024)
-
2,447,883
Lease liabilities
(290,870)
60,567
(68,593)
(298,896)
2,295,037
(77,457)
(68,593)
2,148,987
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