FOR THE YEAR ENDED 31 AUGUST 2025
UNIVERSAL PILING AND CONSTRUCTION LIMITED
COMPANY INFORMATION
UNIVERSAL PILING AND CONSTRUCTION LIMITED
CONTENTS
UNIVERSAL PILING AND CONSTRUCTION LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present their strategic report for the year ended 31 August 2025.
Building on the consolidation achieved in the 2023-24 accounting period, the Universal Piling and Construction directors have delivered another year of growth, with both turnover and profitabilty ahead of the prior year. The selective tendering approach introduced previously has allowed the company to maintain a strong order book whilst targeting work that delivers sustainable margins, meaning dividends can continue to be paid.
The piling division has cemented its position within the CP7 rail framework landscape, with the South Renewals Enterprise (SRE) partnership (along with the CP7 frameworks) now deliverying a steady pipeline of earthworks projects across Kent, Sussex and Wessex. Following the successful delivery of our initial schemes, the division has secured repeat work and is increasingly viewed as a trusted delivery partner. Alongside SRE, the division has progressed positions on further CP7 frameworks with other principal contractors, providing long-term visibility of secured rail workload. Notable projects successfully secured during the year have included embankment cutting/stabalisation and lineside asset piling packages, reinforcing the division's reputation in restricted access and specialist rail piling.
The civils division has had an excellent year, continuing to deliver high-profile leisure schemes under the DLL framework accross the UK. The division has built on the previous year's reorganisation to drive operational performance, with the senior management team now delivering multiple concurrent schemes to programme and budget. The framework continues to provide a strong platform for sustained growth, with several further leisure projects secured for the financial year 2025-26 work bank.
A continued focus on frameworks accross all divisions has provided the company with confidence to invest in plant, people and infrastructure. The company now operates with visibilty of 12 months of secured work, supporting longer-term decision making and enabling targeted recruitment at senior and operational levels.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The wider construction industry continues to face challenging conditions, with several mid-tier contractor insolvencies during the year underlining the importance of robust client and project selection. The board has continued to apply rigorous criteria to the clients the company contracts with and the types of work it undertakes, in order to mitigate counterparty risk and protect the company's position.
Rail remains a core market for both the piling and labour divisions. While CP7 procurement was slower than anticipated during the early part of the year, momentum has now built, with SRE in particular delivering consistent workflow. Other CP7 frameworks remain at varying stages of maturity and the board continues to monitor progress and adjust forecasts and resourcing accordingly.
Government funding decisions continue to present a backdrop of uncertainty. The cancellation of HS2 Phase 2 and ongoing pressure on public sector budgets, including local authority leisure spending, require careful monitoring. The increase in Employers' National Insurance contributions and the National Living Wage announced in the Autumn 2024 Budget has had a direct impact on labour costs, and these effects have been factored into tendering assumptions and budget forecasts going forward.
Price risk
Labour costs have continued to rise, particularly for skilled specialist trades within the rail and piling sectors. The increase in Employers' National Insurance contributions taking effect in April 2025 has further compounded this. The company's objective is to minimise these risks to the level of the market place in which it operates, with tender rates and framework schedules reviewed regularly to ensure cost recovery.
Cash flow and liquidity risk
Business forecasts identifying, in particular, liquidity requirements are produced frequently whilst internal controls ensure the safeguarding of the company's assets.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. In order to achieve this, part of the debtor book is subject to invoice financing, improving the matching of cash flows in respect of costs and revenues.
The company is a lessee in respect of finance leased assets. The liquidity risk in respect of these is managed by ensuring there are sufficient funds to meet the payments through appropriate cash management using cash flow forecasts.
Credit risk
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for bad and doubtful debts.
In respect of bank balances, surplus cash is held with the company's bankers, HSBC. As an A-rated bank, the directors consider this to be among one of Britain's strongest and safest options, and feel the company's short-term cash is consequently in a low-risk category.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
This report was approved by the board on 28 May 2026 and signed on its behalf.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
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 judgments 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 £983,539 (2024 - £913,833).
Dividends of £562,000 (2024 - £482,000) have been paid during the year.
The directors who served during the year were:
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The CP7 control period continues to place significant emphasis on the earthworks, including embankment and cutting remediation, which aligns directly with the piling division's principal specialisation. The company is investing in the latest drilling equipment, training and specialist capability in order to capitalise on this opportunity, with consideration also being given to establishing a regional presence in the south to support the growing SRE workload.
The board has continued to identify and invest in specialist plant and equipment, including the latest Movax sheet piling accessories, soil nailing equipment, in-house IRATA-trained capability and slope climbing machinery. This investment is focused on consolidating the company's position in restricted access piling, sheet piling and soil nailing / rock bolting in challenging site conditions - areas where the company can differentiate itself from larger competitors
In the civils division, the DLL framework remains the platform for continued growth, with the company well positioned to take on further leisure schemes through the 2025-26 year and beyond. Investment in senior management capacity will continue to support the division.
Within the company, ongoing investment in people, plant and systems remains a priority, ensuring the business is well-equipped to deliver on its secured work bank and to take advantage of the long-term opportunities presented by the rail and leisure sectors.
The auditors, Barnett & Turner Accountants Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIVERSAL PILING AND CONSTRUCTION LIMITED
We have audited the financial statements of Universal Piling and Construction 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, the statement of cash flows, the analysis of net debt, 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.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIVERSAL PILING AND CONSTRUCTION LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' 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.
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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UNIVERSAL PILING AND CONSTRUCTION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIVERSAL PILING AND CONSTRUCTION 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 auditors' 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:
As part of our planning process:
∙We enquired of management regarding the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud.
∙We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, the Companies Act 2006 and current tax legislation.
∙We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
∙Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.
The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
∙Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.
∙Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
∙Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, particularly in relation to depreciation and amounts recoverable on contracts.
∙Testing key revenue lines, in particular cut-off, for evidence of management bias.
∙Performing a physical verification of key assets.
∙Obtaining third-party confirmation of material bank and loan balances.
∙Documenting and verifying all significant related party balances and transactions.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIVERSAL PILING AND CONSTRUCTION LIMITED (CONTINUED)
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors.
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 auditors' 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 auditors' 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.
For and on behalf of
Chartered Accountants
Statutory Auditor
Cromwell House
68 West Gate
Nottinghamshire
NG18 1RR
29 May 2026
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
REGISTERED NUMBER: 03728536
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 28 May 2026.
The notes on pages 15 to 31 form part of these financial statements.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Universal Piling and Construction Limited (company number: 03728536) is a company incorporated and domiciled in England. Its registered office and principal place of business is situated at 1st Floor Ashbrook House, Forest Street, Sutton-in-Ashfield, Nottinghamshire NG17 1BH.
The principal activity of the company is the provision of ground engineering, labour and piling plant hire services.
The principal activity of the company is the provision of ground engineering, labour and piling plant hire services.
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 judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company is supported by its bankers in the form of CBILS and factoring facilities. Discussions with the bank give the directors no reason to believe this support will be withdrawn in the foreseeable future. The directors have reviewed the working capital requirements of the business and anticipated cash flows for the 12 months ended 31 May 2027.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of preparation of the financial statements.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of preparation of the financial statements.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
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, on a straight-line or reducing balance basis.
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.
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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Depreciation and amortisation of fixed assets
Determining the appropriate rate of depreciation and amortisation of fixed assets requires an estimation of the useful economic life and ultimate net realisable value. The useful economic life is determined to be the period during which each asset will generate positive cash flows for the company.
Work-in-progress valuation
Determining the value of work-in-progress involves an assessment of the stage of completion of each project at the reporting date. Completion is measured in terms of the costs incurred to date compared to the total expected cost, and is assessed on a project by project basis.
Profit is not recognised until the project is at least 20% complete. Provision is made to recognise project costs and revenues relevant to the stage of completion at the reporting date.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
12.Taxation (continued)
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Sales ledger balances in respect of labour-only contracts are factored.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Profit and loss account
loss account
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £69,574 (2024 - £49,846). Contributions totalling £14,764 (2024 - £10,930) were payable to the fund at the balance sheet date and are included in creditors.
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UNIVERSAL PILING AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The company is controlled equally by the two directors.
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