Registered number: 05537361
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The Directors present their strategic report and financial statements for year ended 31 August 2025.
The company’s principal activity is the manufacture and sale of its patented material technologies, ancillaries and associated fabricated products namely; Concrete Canvas (CC), CCX and CC Hydro .
The principal material technology developed by the company in 2005 has been recognised by the international standards community as a new class of material known as GCCMs (Geosynthetic Cementitious Materials). GCCMs consist of a dry concrete powder filled fabric which hardens on hydration to form a thin, durable, water-proof concrete layer.
GCCMs can be used for a wide range of applications in erosion control and containment within the civil engineering world. The company currently sells primarily into 4 core market sectors Civil Infrastructure, Mining, Petrochem and Agriculture.
The majority of the company’s revenue comes from international markets through a network of over 60 exclusive distribution partners operating by geographic region. These partners receive comprehensive training and ongoing support from staff in our regional offices in Italy (Milan), Hungary (Budapest), UAE (Dubai), Australia (Sydney) and the US (California, Colorado, Texas, Virginia). In the UK and Ireland the company sells directly through an in-country team of technical sales representatives and business development managers employed by the company.
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The principal material technology developed by the company in 2005 has been recognised by the international standards community as a new class of material known as GCCMs (Geosynthetic Cementitious Materials). GCCMs consist of a dry concrete powder filled fabric which hardens on hydration to form a thin, durable, water-proof concrete layer.
GCCMs can be used for a wide range of applications in erosion control and containment within the civil engineering world. The company currently sells primarily into 4 core market sectors Civil Infrastructure, Mining, Petrochem and Agriculture.
The majority of the company’s revenue comes from international markets through a network of over 60 exclusive distribution partners operating by geographic region. These partners receive comprehensive training and ongoing support from staff in our regional offices in Italy (Milan), Hungary (Budapest), UAE (Dubai), Australia (Sydney) and the US (California, Colorado, Texas, Virginia). In the UK and Ireland the company sells directly through an in-country team of technical sales representatives and business development managers employed by the company.
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The group delivered a year of exceptional growth reinforcing it position as the global leader in GCCMs. In its 20th year anniversary of activity the group achieved record turnover of £26m, representing growth of over 50% year on year.
Growth in turnover was mainly driven by the continued rapid adoption of the CCX product line, now representing over 50% of sales by value, with volumes more than doubling in the year. CCX is engineered for canal and irrigation lining applications enabling projects to be completed faster at lower cost with superior durability compared to traditional methods. Its low permeability design significantly reduces seepage losses helping conserve water in regions facing water scarcity due to climate change. As global demand for resilient water infrastructure grows we expect CCX to be a critical driver of growth for the group. .
Geographic performance was led by Asia, UK, and US which together represented the strongest regional contributors.
Civil infrastructure remained our core market sector while mining and agriculture markets delivered the fastest growth. EBITDA remained strong in the last 12 months and at this level outperforms industry benchmarks for specialist manufacturing companies. Cash reserves increased significantly and provides capacity for future investment.
Growth in turnover was mainly driven by the continued rapid adoption of the CCX product line, now representing over 50% of sales by value, with volumes more than doubling in the year. CCX is engineered for canal and irrigation lining applications enabling projects to be completed faster at lower cost with superior durability compared to traditional methods. Its low permeability design significantly reduces seepage losses helping conserve water in regions facing water scarcity due to climate change. As global demand for resilient water infrastructure grows we expect CCX to be a critical driver of growth for the group. .
Geographic performance was led by Asia, UK, and US which together represented the strongest regional contributors.
Civil infrastructure remained our core market sector while mining and agriculture markets delivered the fastest growth. EBITDA remained strong in the last 12 months and at this level outperforms industry benchmarks for specialist manufacturing companies. Cash reserves increased significantly and provides capacity for future investment.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The Groups over-arching strategy is to achieve growth in 3 ways:
•Expand sales of our existing products and applications by growing market share in existing geographic territories and by signing new sales partners in new geographic territories.
•Expand sales of our existing products by developing new applications with lead customers in the UK and once proven roll these out through our international sales partner network.
•Product development of new technologies based on our core expertise to allow us to access new markets and applications and retain our technological lead.
Through Concrete Canvas Technology Ltd, the group holds a strong patent portfolio with 125 patents pending or granted across 84 Territories, together with additional pending applications under the EPC and WIPO regional treaty systems. The geographic coverage of the group’s patent protection increased substantially in 2025 due to two new European patents being granted and subsequently validated across a broad range of European Patent Convention member states. These two European patents were also registered as a Unitary Patent, providing enforceable protection across 18 participating EU territories.
The group is continuing to take the necessary actions to ensure it remains well placed to maintain strong growth and financial performance in the GCCM market. Priorities include expanding presence in North America and Asia with continued investment in R&D and operational improvements.
There is a significant opportunity for growth in Central Asia through the establishment of our first overseas production facility which will supply material into strategic infrastructure projects. CCX has been identified by a national government as meeting a critical need to upgrade the canal network to improve agricultural productivity as well as supplying into other key sectors such as hydro-power and mining.
This report was approved by the board on 15 April 2026 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present their report and the financial statements for the year ended 31 August 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙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 to 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.
The profit for the year, after taxation, amounted to £1,704,477 (2024 - £1,040,678).
The directors who served during the year were:
The auditor, Menzies LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The main risks to achieving the business strategy have been assessed by the Directors and can be summarised as follows:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
This report was approved by the board on 15 April 2026 and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONCRETE CANVAS LIMITED
We have audited the financial statements of Concrete Canvas Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of 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 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.
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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONCRETE CANVAS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report 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.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONCRETE CANVAS LIMITED (CONTINUED)
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:
Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation.
Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:
- Discussing with Directors and management which areas of the business they believe to be more susceptible to fraud, and whether they have any knowledge or suspicion of fraudulent activities.
- Discussing with Directors and management the legal and regulatory obligations of the business and whether they have any knowledge or suspicion of non-compliance.
- Obtaining an understanding of the key controls put in place by the company to address risks identified, assessing the effectiveness of those and discussing how these are maintained and monitored internally.
- Assessing the risk of management override and review and testing of journal entries made into the accounting system.
- Challenging assumptions and judgements made by the company in relation to the significant accounting estimates employed in the preparation of the financial statements.
Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.
Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:
- Discussing with Directors and management which areas of the business they believe to be more susceptible to fraud, and whether they have any knowledge or suspicion of fraudulent activities.
- Discussing with Directors and management the legal and regulatory obligations of the business and whether they have any knowledge or suspicion of non-compliance.
- Obtaining an understanding of the key controls put in place by the company to address risks identified, assessing the effectiveness of those and discussing how these are maintained and monitored internally.
- Assessing the risk of management override and review and testing of journal entries made into the accounting system.
- Challenging assumptions and judgements made by the company in relation to the significant accounting estimates employed in the preparation of the financial statements.
Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONCRETE CANVAS LIMITED (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditor
5th Floor Hodge House
114-116 St Mary Street
CF10 1DY
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
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BALANCE SHEET
AS AT 31 AUGUST 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 April 2026 .
The notes on pages 16 to 30 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Concrete Canvas Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Concrete Canvas Group Limited as at 31st August 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis which assumes the company will continue in operational existence for the foreseeable future. In making their assessment the directors have reviewed the balance sheet, the likely future cash flows of the business and have considered facilities that are in place at the date of signing the report.
At the time of approving the financial statements, the directors have a reasonable expectation that the company 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.
At the time of approving the financial statements, the directors have a reasonable expectation that the company 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Expenditure on research and development is written off 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.
Development costs are being amortised evenly over their estimated useful life of ten years.
Development costs are being amortised evenly over their estimated useful life of ten years.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
10.Taxation (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
12.Tangible fixed assets (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £172,701 (2024: £129,474).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The immediate and ultimate parent company is Concrete Canvas Group Limited, whose registered office is CCHQ, Cowbridge Road, Talbot Green, CF72 8HL. Copies of the financial statements of both companies are available from Companies house, Crown Way, Cardiff CF14 3UZ.
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