Abacus Groundworks Edinburgh Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Abacus Groundworks Edinburgh Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC517637 . The registered office is 15 Lawers Square , Penicuik , Mid Lothian , EH26 8JS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover represents the the value of sales invoices issued, net of discounts and value added taxes.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0%
Plant & Machinery	25% - Reducing balance basis
Motor Vehicles	25% - Reducing balance basis
Fixtures & Fittings	15% - Reducing balance basis
Computer Equipment	15% - Reducing balance basis

The freehold land and properties are subject to a Standard Security and a Directors Guarantee in favour of Royal Bank of Scotland Plc, in respect of loan funding obtained for the purchase of these assets.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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Abacus Groundworks Edinburgh Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 5)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 November 2024	21,730

As at 31 October 2025	21,730

Amortisation
As at 1 November 2024	3,259
Provided during the period	2,173

As at 31 October 2025	5,432

Net Book Value
As at 31 October 2025	16,298

As at 1 November 2024	18,471

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 November 2024	636,290	711,431	24,875	2,044	1,374,640
Additions	-	128,977	10,600	649	140,226
Disposals	-	(114,700 )	(6,500 )	-	(121,200 )

As at 31 October 2025	636,290	725,708	28,975	2,693	1,393,666

Depreciation
As at 1 November 2024	-	340,001	4,896	914	345,811
Provided during the period	-	96,298	5,336	202	101,836
Disposals	-	(38,434 )	(2,319 )	-	(40,753 )

As at 31 October 2025	-	397,865	7,913	1,116	406,894

Net Book Value
As at 31 October 2025	636,290	327,843	21,062	1,577	986,772

As at 1 November 2024	636,290	371,430	19,979	1,130	1,028,829

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Abacus Groundworks Edinburgh Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

The freehold land and buildings are the subject of a Standard Security in favour of Royal Bank of Scotland Plc.

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Plant & Machinery	77,083	167,002

6. Stocks

	2025	2024
	£	£
Materials	3,800	1,420
Work in progress	78,114	103,055

	81,914	104,475

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	5,054
Contract retentions	-	5,076
CIS tax deductions recoverable	66,824	63,034
VAT	44,525	10,181

	111,349	83,345

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,169	45,718
Trade creditors	17,400	3,482
Bank loans and overdrafts	23,800	23,800
Other loans - Funding Circle	41,517	41,517
Corporation tax	21,639	-
PAYE and NI	4,103	3,812
CIS tax deductions from subcontractors	7,762	4,342
Sundry loan	72,230	80,000
Accrued charges	2,178	3,509
Director's loan account	106,727	49,287

	310,525	255,467

The directors loan account is unsecured, interest free and has no fixed terms of repayment.

A loan from Funding Circle was obtained in May 2023 of £249,100, repayable over a 6 year period, and is the subject of a Directors Personal Guarantee.

The bank loan was obtained in October 2024 to assist in the purchase of the 3 land and buildings assets for development purposes over a 15 year term and is secured over those assets, in addition to which the bank also hold a Bond and Floating Charge and a Directors Personal Guarantee.

The sundry loan is unsecured, interest free and has no fixed terms of repayment.

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Abacus Groundworks Edinburgh Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	62,243	91,035
Bank loans	319,098	333,200
Other loan - Funding Circle	107,251	148,768

	488,592	573,003

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	223,898		238,000

10. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Bank loans and overdrafts	342,898		357,000

11. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	13,169	45,718
Later than one year and not later than five years	62,243	91,035

	75,412	136,753

	75,412	136,753

12. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances.

	2025	2024
	£	£
Other timing differences	82,848	93,714

13. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 November 2024	93,714	93,714
Utilised	(10,866 )	(10,866)

Balance at 31 October 2025	82,848	82,848

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Abacus Groundworks Edinburgh Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

14. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

15. Ultimate Controlling Party

The company's ultimate controlling party is the director by virtue of his ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		16,298		18,471
Tangible Assets	5		986,772		1,028,829

			1,003,070		1,047,300
CURRENT ASSETS
Stocks	6	81,914		104,475
Debtors	7	111,349		83,345
Cash at bank and in hand		128,563		45,321

		321,826		233,141
Creditors: Amounts Falling Due Within One Year	8	(310,525 )		(255,467 )

NET CURRENT ASSETS (LIABILITIES)			11,301		(22,326 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,014,371		1,024,974

Creditors: Amounts Falling Due After More Than One Year	9		(488,592 )		(573,003 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	12		(82,848 )		(93,714 )

NET ASSETS			442,931		358,257

CAPITAL AND RESERVES
Called up share capital	14		1		1
Profit and Loss Account			442,930		358,256

SHAREHOLDERS' FUNDS			442,931		358,257