The directors present the strategic report for the year ended 31 July 2025.
Turnover has increased by £6,348,153 from £18,294,410 in 2024 to £24,642,563 in 2025, a 34.70% increase.
Gross profit has increased by £1,198,842 from £3,245,654, in 2024 to £4,444,496 in 2025, a 36.94% increase. Gross profit margin has increased from 17.74% in 2024 to 18.03%.
Operating profit has decreased by £86,169 from £679,566 in 2024 to £593,397, a 12.68% decrease.
Profit after tax for 2025 was £105,246 compared to profit after tax of £321,595 in 2024.
The net assets of the Group at the year-end were £2,052,011 compared to £2,165,965 in 2024, a decrease of £113,954
Many of our clients are now seeing the impacts of the recent economic turmoil. Whilst this does not effect out current order book, it is highly likely that the upcoming years will be affected. We are fortunate that we have a diverse market including commercial clients as well as local authority clients to enable our work portfolio to be spread and dampen any industry shocks.
We maintain a strong reputation for providing our clients with completed projects on time, budget and to the quality required. This enables us to win repeat work with a loyal client base.
We continue to invest in modern plant and machinery to serve our workforce and clients.
|
|
|
| 2025 | 2024 |
| £'000 | £'000 |
Turnover | 24,643 | 18,294 |
Gross Profit | 4,444 | 3,245 |
Gross Profit Margin | 18% | 18% |
EBITDA | 1,489 | 1,224 |
Percentage of sales | 6% | 7% |
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 July 2025.
The results for the year are set out on page 9.
No preference dividends were paid. The directors do not recommend payment of a final dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The group's objective is to maintain a balance between continuing of funding and flexible use of funding by way of invoice discounting arrangement, company credit cards and similar arrangements. Short term flexibility is achieved by overdrafts facilities.
The group has a policy to manage any exposure to interest rate fluctuations so as to finance its operations through retained profits.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.
The group has no financial assets other than short-term debtors and cash at bank.
Affinia (Stratford) were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
The parent company was incorporated on 23 August 2023 and on 6 September 2023, control of Trinity Surfacing Limited and Trinity Highways Limited was gained.
This report has been prepared in accordance with the provisions applicable to groups and companies entitled to the exemptions of the small companies regime.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of Trinity Surfacing Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group 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).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
Except for the matter described in the Basis for qualified opinion section of our report, 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.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors, and from our commercial knowledge and experience of the construction of road surfaces sector;
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 Companies Act 2006, taxation legislation, data protection, and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing correspondence 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.
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.
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 and reviewing for evidence of correspondence with 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 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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £103,537 (2024 - £0 profit).
Trinity Surfacing Group Limited (“the group”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 15, Kingsnorth Industrial Estate, Hoo, Rochester, ME3 9ND.
The group consists of Trinity Surfacing Group Limited and Trinity Surfacing Limited.
The group was incorporated on 23 August 2023. The prior period financial statements cover 11 months from incorporation to 31st July 2024. Therefore, the comparative figures presented in the financial statements are not entirely comparable.
These are the first financial statements of the Group in accordance with “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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The consolidated group financial statements consist of the financial statements of the parent company Trinity Surfacing Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 July 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Due to the level of reserves and the profitability of the company, at the time of approving the financial statements and the time the company has been in existence, 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.
Turnover represents net invoiced sales. The amount recorded as turnover in respect of long term contracts is ascertained by reference to the output method for applying the percentage of completion method.
Revenue is recognised once work that has been performed has been certified for approval based on the stage of completion of the contract’s activity by the customer in relation to the total work to be completed on the contract. Once the application and invoice for works performed have been approved by the customer, amounts are then paid to the entity by the customer.
Contract costs are charged to profit and loss as incurred irrespective of the stage of completion
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, 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.
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.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
As per note 1.2, at inception of a contract, the company assesses whether a contract is or contains a lease. A contract is, or contains, a lease if it conveys the right to control the use of the identified asset for a period of time and in exchange for consideration.
The group as a lessee:
At the commencement of the lease term, a right-of-use asset and a lease liability is recognised on the statement of financial position.
The right-of-use asset is measured at cost comprising the amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date less any lease incentives received, any initial direct costs incurred and an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease, unless those costs are incurred to produce inventories.
The lease liability is measured at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the incremental borrowing rate is utilised.
At the commencement date, the lease payments included in the measurement of the lease liability comprise the following payments for the right to use the underlying asset during the lease term that are not paid at the commencement date:
(a) fixed payments less any lease incentives receivable;
(b) variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;
(c) amounts expected to be payable by the lessee under residual value guarantees;
(d) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option and;
(e) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease.
Right-of-use assets are accounted for as property, plant and equipment. They are depreciated using the straight-line or unit of production basis at rates considered appropriate to reduce the carrying value over the estimated useful lives to the estimated residual values. Where it is not certain that an asset will be taken over by the company at the end of the lease, the asset is depreciated over the shorter of the lease period and the estimated useful life of the asset.
Lease payments are allocated between the lease finance cost and capital repayment using the effective interest rate method. Lease finance costs are charged to the statement of profit and loss as they become due. The carrying amount of the lease liability is remeasured to reflect any reassessment, lease modifications or revised in-substance fixed payments. The amount of the remeasurement is recognised as an adjustment to the right-of-use asset and any further reduction required is recognised in profit or loss.
Short-Term and Low Value Leases
Leases with a lease term of less than 12 months or leases of assets which are low value in nature are not recognised on the statement of financial position. The lease payments on these leases are recognised as an expense on a straight-line basis over the lease term.
Lease payments are allocated between the lease finance cost and the capital repayment using the effective interest rate method. Lease finance costs are charged to the statement of profit and loss as they become due. The carrying amount of the lease liability is remeasured to reflect any reassessment, lease modifications or revised in-substance fixed payments. The amount of the remeasurement is recognised as an adjustment to the right of-use asset and any further reduction required is recognised in profit or loss.
Short-Term and Low Value Leases
Leases with a lease term of less than 12 months or leases of assets which are low value in nature are not recognised on the statement of financial position. The lease payments on these leases are recognised as an expense on a straight-line basis over the lease term.
Debt Factoring
The company enters into factoring arrangements in respect of certain third party providers. These arrangements facilitate working capital by accelerating cash receipts.
The arrangements do not result in the transfer of credit risk and the ultimate risks and rewards associated with the trade debtors remain with the company. As such the company continues to recognise these items in the Statement of financial position until they are settled or expire.
a liability is recognised in respect of advances and other amounts owing to factoring parties, this liability is recognised with other creditors.
Assets and liabilities associated with these arrangements are not offset and are measured in accordance with the accounting policies for financial instruments as set out in the financial instruments accounting policy.
Interest arising on factoring liabilities is recognised within profit or loss within interest payable as it accrues using the effective interest rate. Other fees payable in respect of the arrangements are recognised in profit or loss within administrative expenses in the period to which they relate.
In the application of the group’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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Provision is made for bad debts. This requires management's best estimate of the value of payments expected to be received in the future. In addition, the timing of the cash flows requires management's judgement.
The Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any such indication exists, or when annual impairment testing for an asset is required, the Company makes an estimate of the asset's recoverable amount to determine the extent of the impairment loss. An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs to sell and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets.
Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. Impairment losses on continuing operations are recognised in the income statement in those expense categories consistent with the function of the impaired asset.
For assets where an impairment loss subsequently reverses, the carrying amount of the asset or cash generating unit is increased to the revised estimate of its recoverable amount, not to exceed the carrying amount that would have been determined, net of depreciation, had no impairment losses been recognised for the asset or cash generating unit in prior years. A reversal of impairment loss is recognised immediately.
Trinity Surfacing Group Limited issued £3,000,000 preference shares to Trinity Surfacing Ltd in exchange for £2 ordinary shares. The shares carry no dividend or voting rights but are repayable at issue price on liquidation, and include a right of redemption; accordingly, they are treated as a financial liability. As repayment is expected beyond 12 months, the liability has been measured at present value using a 5% discount rate, with the difference between the discounted value and £3,000,000 recognised in equity.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
Key management personnel is regards as comprising the board of directors and the total remuneration of key management personnel is disclosed above.
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:
The net carrying value of the tangible fixed assets includes plant and machinery amounting to £1,456,981 (2024: £519,863) as well as motor vehicles amounting to £576,635 (2024: £478,004) that are held under finance leases or hire purchase contracts.
Details of the company's subsidiaries at 31 July 2025 are as follows:
Registered office addresses (all UK unless otherwise indicated):
Included within trade debtors are retentions due from customers. The company performs regular reviews of the recoverability of these amounts. The total amount of retentions included within trade debtors at the balance sheet date is £613,129 (2024: £531,788). The total bad debt provision amounted to £461,732 (2024: £214,890).
As at 31 July 2025, the outstanding balance owed by Lloyds Bank Commercial Finance Limited included within other creditors is £306,099, this is secured against the trade debtors to which they relate.
The bank loan is repayable over a term over of 5 years and is secured by the Government guarantees.
The finance leases are secured on the assets concerned.
Other creditors relates to preference shares issued in the period classified as liabilities in line with note 21.
This element of preference shares classified as liabilities is in relation to amounts redeemable by the preference shareholders on a return of assets on the event of liquidation, capital reduction or otherwise.
A period of 10 years from the date of issue of £3m preference shares on 6 September 2023 has been determined to be appropriate and discounting the anticipated payment to shareholders with an applied discount rate of 10% has arrived at £1,156,630 at 31 July 2024.
During the reporting period, Trinity Surfacing Limited had a charge with Aldermore Bank which was satisfied and a new charge was raised on 12 April 2024 by Lloyds Bank PLC. As at 31 July 2025, the outstanding balance owed by Lloyds Bank Commercial Finance Limited included within other debtors is secured against the trade debtors to which they relate.
The finance leases included above as per notes 14 and 15 are secured on the assets concerned.
The group has a 10 year operating lease for unit 15 Kingsnorth Industrial Estate Kent which terminates in March 2032 and has been included above as per noted 14 and 15.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
Amounts due from Nexgen Asphalt Limited are £432,892, a related entity owned by the directors and shareholders of the company. This balance is due receivable on demand and is interest free.
The Parent Company has provided parent guarantees to a number of subsidiaries which exempts them from the requirement to have an audit under s479a of the Companies Act 2026. The subsidiaries that have received a guarantee are
Company | Company Registration Number |
Trinity Highways Limited | 13213228 |
There is an existing charge for Trinity Surfacing Limited that was raised in the prior year by Lloyds Bank PLC. The facility is secured by a debenture over all the assets of the company and a joint and several personal guarantee from the directors and shareholders. There were no charges during the current year relating to the Company.