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Registration number: 3008394

Site-Equip Limited
Filleted Financial Statements
for the Year Ended 31 March 2025

Site-Equip Limited

Contents

Company Information | 1
Balance Sheet | 2
Statement of Changes in Equity | 3
Notes to the Financial Statements | 4 to 12

Site-Equip Limited

Company Information

Directors | Mr GD Gilbert Miss AC Gilbert Mr AT Gilbert Adam Paul Lockyer

Registered office | Wellesley House 204 London Road Waterlooville Hampshire England PO7 7AN

Auditors | MMO Audit Services Limited Chartered Accountants and Statutory AuditorsWellesley House 204 London Road Waterlooville Hampshire PO7 7AN

Site-Equip Limited

(Registration number: 3008394)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 17,712 | -
Tangible assets | 5 | 3,331,574 | 2,726,948
|  | 3,349,286 | 2,726,948
Current assets |  |  |
Stocks | 6 | - | 731,326
Debtors | 7 | 1,278,163 | 1,378,190
Cash at bank and in hand |  | 41,925 | 159,758
|  | 1,320,088 | 2,269,274
Creditors: Amounts falling due within one year | 8 | (2,430,451) | (2,272,740)
Net current liabilities |  | (1,110,363) | (3,466)
Total assets less current liabilities |  | 2,238,923 | 2,723,482
Creditors: Amounts falling due after more than one year | 8 | (332,445) | (508,240)
Provisions for liabilities |  | (705,874) | (582,637)
Net assets excluding pension asset/(liability) |  | 1,200,604 | 1,632,605
Net pension liability 1 |  | - | (443,000)
Net assets |  | 1,200,604 | 1,189,605
Capital and reserves |  |  |
Called up share capital | 9 | 100 | 100
Retained earnings |  | 1,200,504 | 1,189,505
Shareholders' funds |  | 1,200,604 | 1,189,605

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 March 2026 and signed on its behalf by:

......................................... Mr GD Gilbert Director

Site-Equip Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

| Share capital £ | Retained earnings £ | Total £
At 1 April 2024 | 100 | 1,189,505 | 1,189,605
Profit for the year | - | 881,999 | 881,999
Other comprehensive income | - | 29,000 | 29,000
Total comprehensive income | - | 910,999 | 910,999
Dividends | - | (900,000) | (900,000)
At 31 March 2025 | 100 | 1,200,504 | 1,200,604

| Share capital £ | Retained earnings £ | Total £
At 1 April 2023 | 100 | 2,018,460 | 2,018,560
Profit for the year | - | 1,016,045 | 1,016,045
Dividends | - | (1,845,000) | (1,845,000)
At 31 March 2024 | 100 | 1,189,505 | 1,189,605

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

The principal place of business is:
The Avenue
Lasham
Alton
GU34 5SU
England

These financial statements were authorised for issue by the Board on 2 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Audit report

The Independent Auditor's Report was qualified. We were not appointed as auditor of the company until after 31 March 2024 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 March 2024, which are included in the balance sheet at £731,326, by using other audit procedures.
Consequently we were unable to determine whether any adjustment to this amount was necessary..

The name of the Senior Statutory Auditor who signed the audit report on 5 March 2026 was Gillian McIntosh, who signed for and on behalf of MMO Audit Services Limited.

.........................................

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Fixtures and fittings | 20% reducing balance
Motor vehicles | 25% reducing balance
Land and buildings | nil
Leasehold improvements | over 5 years
Office Equipment | over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 76 (2024 - 73).

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
Additions acquired separately | 22,140 | 22,140
At 31 March 2025 | 22,140 | 22,140
Amortisation
Amortisation charge | 4,428 | 4,428
At 31 March 2025 | 4,428 | 4,428
Carrying amount
At 31 March 2025 | 17,712 | 17,712

5 | Tangible assets

| Short leasehold land and buildings £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £
Cost or valuation
At 1 April 2024 | 774,095 | 55,120 | 4,471,689 | 44,994
Additions | 67,819 | 12,749 | 1,263,681 | 6,214
Disposals | - | - | (152,071) | -
At 31 March 2025 | 841,914 | 67,869 | 5,583,299 | 51,208
Depreciation
At 1 April 2024 | 641,076 | 21,551 | 2,996,519 | 3,749
Charge for the year | 51,511 | 8,952 | 432,796 | 16,624
Eliminated on disposal | - | - | (143,096) | -
At 31 March 2025 | 692,587 | 30,503 | 3,286,219 | 20,373
Carrying amount
At 31 March 2025 | 149,327 | 37,366 | 2,297,080 | 30,835
At 31 March 2024 | 133,019 | 33,568 | 1,475,170 | 41,245

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

| Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 1,762,686 | 7,108,584
Additions | 105,320 | 1,455,783
Disposals | (137,581) | (289,652)
At 31 March 2025 | 1,730,425 | 8,274,715
Depreciation
At 1 April 2024 | 718,740 | 4,381,635
Charge for the year | 251,098 | 760,981
Eliminated on disposal | (56,379) | (199,475)
At 31 March 2025 | 913,459 | 4,943,141
Carrying amount
At 31 March 2025 | 816,966 | 3,331,574
At 31 March 2024 | 1,043,946 | 2,726,948

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings and £149,328 (2024 - £133,019) in respect of short leasehold land and buildings.

6 | Stocks

| 2025 £ | 2024 £
Other inventories | - | 731,326

7 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 677,632 | 645,006
Amounts owed by related parties |  | 210,976 | 646,289
Prepayments |  | 320,885 | 86,242
Other debtors |  | 68,670 | 653
|  | 1,278,163 | 1,378,190

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 11 | 540,857 | 626,722
Trade creditors |  | 428,541 | 233,931
Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 54,613 | 83,146
Taxation and social security |  | 608,184 | 628,906
Accruals and deferred income |  | 445,248 | 678,094
Other creditors |  | 353,008 | 21,941
|  | 2,430,451 | 2,272,740

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 11 | 332,445 | 508,240

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100

10 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

| Retained earnings £ | Total £
Remeasurement gain/loss on defined benefit pension schemes | 29,000 | 29,000

Site-Equip Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

11 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 62,757 | 66,667
Hire purchase contracts | 269,688 | 441,573
| 332,445 | 508,240

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 44,659 | 50,000
Hire purchase contracts | 496,198 | 576,722
| 540,857 | 626,722

12 | Parent and ultimate parent undertaking

Site-Equip Limited is a100% owned subsidiary of GASA Group Limited.
GASA Group Limited is 50% owned by The Double AG Company Limited.
The company's immediate parent is GASA Group Limited, incorporated in England.
The ultimate parent is The Double AG Company Limited, incorporated in England.