FOR THE YEAR ENDED 31 MARCH 2026
VIA EAST MIDLANDS LIMITED
COMPANY INFORMATION
VIA EAST MIDLANDS LIMITED
CONTENTS
VIA EAST MIDLANDS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
Via East Midlands Limited, trading as Via, is a wholly owned subsidiary of Nottinghamshire County Council (NCC). Via has an exclusive Term Service Contract (2016-2031) for the delivery of highways services across the county. As a Teckal company, Via also undertakes third-party work with both public and private-sector organisations.
Via delivers multi-disciplinary design and consultancy services, highway maintenance, construction, signals and lighting, environmental management, fleet services and road safety. In addition to this, Via provides key highway management services to NCC including customer liaison, street works coordination and highway asset management.
Via delivers services primarily through our directly employed workforce, supported by local supply-chain partners which enables the organisation to respond flexibly to the needs of NCC.
Via delivers multi-disciplinary design and consultancy services, highway maintenance, construction, signals and lighting, environmental management, fleet services and road safety. In addition to this, Via provides key highway management services to NCC including customer liaison, street works coordination and highway asset management.
Via delivers services primarily through our directly employed workforce, supported by local supply-chain partners which enables the organisation to respond flexibly to the needs of NCC.
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VIA EAST MIDLANDS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
2025–26 has been a strong year for Via, characterised by the successful execution of planned programmes of work, resilient operational delivery across a broad range of highways services and sustained achievement of contractual performance indicators. As a key strategic partner to NCC, Via has continued to provide value-add for the Nottingham County Council through its focus on innovation, customer service and social value, all while demonstrating value for money in a challenging financial climate.
In May 2025, local elections in Nottinghamshire led to a change in political administration at NCC, with highway services highlighted as a key issue for residents. The incumbent administration initiated a comprehensive Highways Review following the election, with the findings showing strong support for the Nottingham County Council’s delivery model through Via, with celebration of the focus on local supply-chain, local spend and social value. The report highlighted wider areas of good practice across both NCC and Via, as well as setting four key areas of focus for the new administration which include securing funding, managing assets, delivering services efficiently, and improving communications and community involvement.
At a strategic level, Via revised its three-year Business Plan in early 2025, in line with the refreshed Council Plan (2025-2029). This includes a focus on supporting NCC’s vision of ‘building stronger families, thriving communities and a connected county’. Progress has been made across objectives defined in all five strategic themes within the Business Plan (Commerciality, Customer, Governance and Process, People and Responsible Business). Further detail is included in the ‘Business Plan 2025-2028’ section of this report.
From a service delivery perspective, Via has had an excellent year, with the majority of carriageway resurfacing schemes completed by December. In addition, Via has delivered significant programmes of surface dressing and micro-asphalt works successfully, supporting the long-term maintenance of the highway network. Via and NCC continue to work closely with the East Midlands Combined County Authority (EMCCA) and can demonstrate strong delivery performance against funding received. Across the wider portfolio of work, Via continues to embed its strategic approach to maintenance, coordinated through the fourteen asset types with high performance maintained throughout the year as demonstrated through contractual KPIs.
Via has shown continued resilience through a difficult winter, supporting NCC in the face of poor weather and a deteriorating highway network. In response to increased customer demand, and in line with national trends, Via has worked collaboratively with the County Council to deliver additional patching and resurfacing schemes as well as develop a focus on permanent first-time repairs to preserve the safety and longevity of the network. This is further bolstered by the continued focus on preventative maintenance activities.
Commercially, Via has performed well, with a focus on delivering external works in line with the principles set out in Via’s Business Plan. This includes ensuring works align with the strategic priorities of Via and NCC as well as supporting regional economic growth. External works have enabled Via to return a dividend to NCC as well as re-invest money into a range of highway services across Nottinghamshire. This re-investment into service delivery reflects the unique benefit of the Via model. Formal confirmation of funding for the A614 scheme was also received this year, with Via leading the works on behalf of the Council. Initial site clearance works commenced in early 2026 with the scheme set to continue into 2026-27. Via has also been successful in securing a £6 million contract in Derbyshire, extending the company’s existing work to supply, install, maintain and remove key streetlighting assets across the county over the next four years.
From a continual improvement perspective, Via has maintained key ISO accreditations (ISO 45001 Occupational Health and Safety and ISO 14001 Environmental Management) as well as achieving recertification to ISO 9001 Quality Management. This reflects the capability and competence of the organisation in line with industry standards. Investment in Via working locations has also continued, with improvements made to Bilsthorpe Depot and Trent Bridge House. Additional investment from NCC has also been confirmed to upgrade facilities at Gamston, Stephenson Way and Blyth depots which will make a significant difference to Via employees.
Via proactively manages organisational risk across Via’s activities. This is through appropriate governance, clear roles and responsibilities and an effective risk management framework. This enables oversight of strategic risks through the Via Board and Senior Leadership Team, with responsibility for operational risk cascaded throughout the Via business.
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VIA EAST MIDLANDS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Via works with a structured governance framework, through which performance is formally monitored by relevant stakeholders. The diagram below sets out the information currently reported.
Our financial model is underpinned by a clear strategy and plan, and several key drivers as set out below:
∙A three-year view
∙A quarter-by-quarter approach
∙Budget and cash flow management
∙A need for solid reserves
∙Organisational right sizing / succession planning, ensuring competence, capacity, and capabilities to deliver changing NCC priorities and third-party growth.
∙A positive balance sheet / pension position
∙To support the ambitions within NCC’s Council Plan 2025-2029
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VIA EAST MIDLANDS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Via East Midlands Limited Directors are aware of their duty under s.172 of the Companies Act 2006 to act in the way they would consider, in good faith, would be most likely to promote the success and benefit of the company and, in doing so, to have regards (amongst other matters) to:
∙the consequences of decisions in the long term.
∙the interests of the company’s employees.
∙the need to foster the company’s business relationships with suppliers, customers, and others.
∙the impact of the company’s operations on the community and the environment.
∙the desirability of the company maintaining a reputation for high standards of business conduct.
This report was approved by the board and signed on its behalf.
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VIA EAST MIDLANDS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
The profit for the year, after taxation, amounted to £845,652 (2025: £594,265).
The dividend amount declared in year was £600,000 (2025: £600,000).
The directors who served during the year were:
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VIA EAST MIDLANDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Via Business Plan 2025-28
In early 2025, Via launched its three-year Business Plan, setting out key strategic objectives for the organisation in alignment with NCC’s Council Plan. Key details include:
Via’s purpose is to partner with NCC to ‘build thriving communities and a connected county’.
Via’s vision is to be ‘one team, recognised as the leading provider of highway services'.
Via’s mission is to ‘deliver quality services, providing value to our customers and community, with a focus on sustainability, people and place’.
Via’s values define the way we work together. They encapsulate what it means to work for Via and highlight the beliefs and principles that guide our behaviours. Our values are:
Together, we are One Team.
In early 2025, Via launched its three-year Business Plan, setting out key strategic objectives for the organisation in alignment with NCC’s Council Plan. Key details include:
Via’s purpose is to partner with NCC to ‘build thriving communities and a connected county’.
Via’s vision is to be ‘one team, recognised as the leading provider of highway services'.
Via’s mission is to ‘deliver quality services, providing value to our customers and community, with a focus on sustainability, people and place’.
Via’s values define the way we work together. They encapsulate what it means to work for Via and highlight the beliefs and principles that guide our behaviours. Our values are:
Together, we are One Team.
∙Care – We care about what we do, the people we work with and the communities we serve. Via is a safe and inclusive environment where everyone is valued.
∙Commitment – We are committed and deliver on our promises. We meet the needs of our customers and build trust.
∙Community – We are community-focused and take pride in creating value. We make a difference and create positive impact in all we do.
Via is committed to directly supporting NCC’s vision of building ‘stronger families, thriving communities, and a connected county’, as set out in The Council Plan 2025-2029. Via makes a direct contribution to the following shareholder ambitions.
∙Work with and help communities during extreme weather events like flooding and other major emergencies, supporting them to stay safe
∙Work to fix and look after our roads, making sure repairs are done properly first time and using methods that help prevent future damage
∙Helping our local enterprises, businesses and suppliers to thrive, grow and succeed by improving the ways we work with them
∙Making sure people can get early support, advice and information when they need it
∙Supporting EMCCA to improve buses, trains, and other travel options, especially in rural areas
∙Helping people find and keep good jobs, increasing inclusive opportunities for all adults
∙Working with education providers to achieve a good level of education for everyone
Business Plan Progress 2025-26
Significant progress has been made in 2025-26 across the five themes set out in the Business Plan. Key highlights from the year include;
Commerciality
∙The introduction of improved commercial controls including revised Delegated Levels of Authority, standard commercial templates and a revised procurement policy in line with the Procurement Act 2023.
∙The renewal of Via’s Delivery Partnership Framework, with the creation of a Surface Delivery Partnership Framework (SDP) and a Surface Treatments Partnership Framework.
Customer
∙The creation of a joint NCC and Via Customer Service Strategy for the Highways Service, in line with the needs and expectations of key customer groups.
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VIA EAST MIDLANDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
∙Improvements to key sets of performance data, enabling proactive data sharing with key customers that demonstrate activity and progress.
Governance and Process Theme
∙The introduction of a revised governance framework for scheme delivery and a continued focus of a strategic asset management approach based on fourteen asset types.
∙Commencement of a Technology Roadmap for Via, setting out the company’s intentions in relation to digital transformation over the next three years.
People Theme
∙The launch of Via’s Performance and Talent Framework, strengthening the company’s focus on employee development and career progression.
∙A refresh of the Via corporate induction as well as recruitment practice, ensuring Via continues to attract and retain key talent.
Responsible Business Theme
∙A strategic focus on behavioural safety, designed to strengthen Via’s safety culture and ensured a continued reduction in incidents.
∙Key social value milestones including the signing of a three-year partnership with Nottingham Trent University, the achievement of Bronze Accreditation through the Defence Employer Recognition Scheme, the commencement of a successful charity partnership with the Lincolnshire and Nottinghamshire Air Ambulance as well as Bronze Accreditation through the Carbon Literacy Trust.
∙Increased focus on driving social value through the Via supply-chain, in support of key strategic objectives.
Future Developments
As per Via’s Business Plan, the company will continue to focus on the following critical organisational goals over the next year. This is in addition to key objectives set out within the Business Plan themes, building on progress made in 2025-26.
∙To continue to support Nottinghamshire County Council in the creation of an efficient, safe, and sustainable highway network and environment, with a focus on customer excellence, quality of output and value for money.
∙Delivery of Via East Midlands Limited Business Plan 2025-2028, with clear objectives around the five themes of Commerciality, Customer Focus, Governance and Process, People and Responsible Business.
∙Do business in a safe and responsible way, prioritising the safety and welfare of our staff, supply-chain and the wider public as well as delivering on our targets for social value (addressing local economic, social and environmental benefits).
∙Continue to develop our Performance Management Framework, meeting the aspirations / objectives of our customers – ensuring upper quartile KPI performance against all business measures underpinned by robust management information that supports enhancement of service delivery.
∙Continuous development of our Safety, Health, Environmental and Quality Management System focusing on maintaining an accident incident rate of zero, and compliance with our CDM, pre-construction / design and risk management arrangements. Maintain (BSI) third-party accreditations, including ISO 9001:2015 including National Highway Sector Scheme 8 (NHSS8), ISO 14001:2015, ISO 45001:2018 including Safety Schemes in Procurement (SSIP), Electrical Registration Scheme (NERS) Independent Connection Provider, National Inspection Council for Electrical Installation Contractors (NIC-EIC).
∙Delivery of a sustainable net profit of £900k respectively over three years, with annually agreed stretch targets, based on revenues of £139.8m, £70.9m, and £70.9m. We will continue to maintain a positive cash, debt and WIP position, underpinned by solid business reserves and effective risk and supply chain management.
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VIA EAST MIDLANDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Purpose and Regulatory Compliance
This report outlines Via East Midlands’ energy consumption and greenhouse gas (GHG) emissions for the period 1 April 2025 to 31 March 2026, prepared in accordance with the Companies (Directors’ Report) and LLP (Energy and Carbon) Regulations 2018.
The organisation reports Scope 1 and Scope 2 emissions as required, alongside voluntarily disclosed Scope 3 emissions to provide a comprehensive view of its environmental footprint.
A dual reporting approach is adopted:
This report outlines Via East Midlands’ energy consumption and greenhouse gas (GHG) emissions for the period 1 April 2025 to 31 March 2026, prepared in accordance with the Companies (Directors’ Report) and LLP (Energy and Carbon) Regulations 2018.
The organisation reports Scope 1 and Scope 2 emissions as required, alongside voluntarily disclosed Scope 3 emissions to provide a comprehensive view of its environmental footprint.
A dual reporting approach is adopted:
∙Energy consumption (kWh) to measure operational efficiency
∙Carbon emissions (tCO2e) to measure environmental impact
Performance is benchmarked using intensity ratios per £1M turnover to ensure meaningful year-on-year comparison aligned to business activity.
Headline Performance (2025–2026)
The reporting period demonstrates significant structural improvement in both energy efficiency and carbon performance:
The reporting period demonstrates significant structural improvement in both energy efficiency and carbon performance:
∙Energy consumption reduced by (34%) (16.5m kWh to 10.8m kWh)
∙Energy intensity improved by 36%
∙Total carbon emissions reduced by (55%) (1,611 to 731 tCO2e)
∙Carbon intensity improved by 48%
This reflects a successful decoupling of environmental impact from financial output, demonstrating that growth is being delivered with materially lower emissions
Key Drivers of Change
Performance improvements were achieved through strategic decisions.
Structural and Strategic Actions
Performance improvements were achieved through strategic decisions.
Structural and Strategic Actions
∙Full transition of fleet fuel from diesel to Hydrotreated Vegetable Oil (HVO)
∙Consolidation of estate, including closure of Sutton facility
∙Procurement of renewable-backed electricity and gas
These factors combined to deliver both step change improvements and one-off reductions, which are recognised in forward planning.
Strategic Position
Via East Midlands enters 2026-2027 with:
∙A materially lower carbon baseline
∙Improved data integrity and external verification assurance
∙Strong alignment to net zero trajectory through operational control
The focus now shifts from transformation to embedding sustainable performance and scaling targeted initiatives.
Energy Consumption Performance
Energy usage reductions were driven primarily by changes in direct energy (Scope 1):
∙Scope 1 energy reduced by (81%)
∙Scope 2 reduced by (4%)
∙Scope 3 reduced by (2%)
This indicates that direct operational changes particularly in fleet and fuel were the dominant factor in improved performance.
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VIA EAST MIDLANDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Carbon Emissions Performance
Scope 1 (Direct Emissions)
∙Reduced by (92%) (864 to 65 tCO2e)
Primary driver:
∙Elimination of diesel from fleet operations, representing a permanent structural shift
∙Expansion of HVO use as the primary transport fuel
Additional factors:
∙Reduced natural gas consumption (82%), linked to estate changes and operational anomalies
Scope 2 (Electricity)
∙Reduced by (18%)
Drivers:
∙Estate rationalisation (facility closures)
∙Temporary reduction in operational activity
∙Future expectation: some normalisations of electricity demand as sites return to full use
Scope 3 (Value Chain Emissions)
∙Reduced by (10%) overall
Key movements include:
∙Significant reduction in private car travel emissions (74%)
∙Increase in public transport-related emissions, reflecting modal shift
∙Reduction in homeworking emissions due to fewer remote staff and updated conversion factors
Decarbonisation has been achieved primarily through fuel transformation and estate strategy rather than marginal efficiency gains alone.
This positions the organisation strongly for future regulatory compliance and stakeholder expectations but also highlights the need to sustain gains through consistent operational control.
Conclusion
This reporting period represents a step change in environmental performance, with strong evidence that strategic interventions, particularly in fleet and energy procurement can deliver rapid and material outcomes.
The organisation now moves into a phase of refinement, optimisation, and long-term strategy execution, aligned with both regulatory expectations and broader sustainability objectives.
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VIA EAST MIDLANDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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VIA EAST MIDLANDS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 company and of the profit or loss of the company for that period.
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;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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.
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VIA EAST MIDLANDS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS LIMITED
We have audited the financial statements of Via East Midlands Limited (the 'company') for the year ended 31 March 2026, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of cash flows 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 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.
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VIA EAST MIDLANDS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS 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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VIA EAST MIDLANDS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS 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:
∙We have considered the nature of the industry and sector, control environment, and financial performance;
∙We have considered the results of enquiries with management and the directors in relation to their own identification and assessment of the risks of irregularities within the entity.
∙We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation; and
∙We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty. These include highways legislation, data protection legislation, health and safety regulations, environmental regulations, employment law.
Our procedures to respond to risks identified included the following:
We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty. These include highways legislation, data protection legislation, health and safety regulations, environmental regulations, employment law.
Our procedures to respond to risks identified included the following:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Enquiring of management in relation to actual and potential claims or litigation;
∙Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙Reviewing board meeting minutes;
∙Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around the year-end cut off including the agreement of year end balances with Nottinghamshire County Council; and
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in accounting estimates are indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.
We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.
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VIA EAST MIDLANDS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA EAST MIDLANDS LIMITED (CONTINUED)
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
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 Auditors
Salt Quay House
4 North East Quay
Sutton Harbour
PL4 0BN
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VIA EAST MIDLANDS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2026
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VIA EAST MIDLANDS LIMITED
REGISTERED NUMBER:09903246
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 19 to 34 form part of these financial statements.
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VIA EAST MIDLANDS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The company (registered number 09903246) is a private company, limited by shares and registered in England and Wales. The registered office address is Bilsthorpe Depot Bilsthorpe, Business Park, Eakring Road, Bilsthorpe, Newark, NG22 8ST.
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).
The following principal accounting policies have been applied:
The directors have considered the future profitability of the company and forecast positive cashflows for the future after taking account of reasonable possible changes in trading performance. The company has secured the continued on-going support from Nottinghamshire County Council.
As such the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
As such the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably;
∙and the costs incurred and the costs to complete the contract can be measured reliably.
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.
Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
The company participates in the Local Government Pension Scheme, a defined benefit scheme managed by Nottinghamshire County Council. The assets of the scheme are invested independently of the finances of the company. Contributions are made to the scheme in accordance with the recommendations of the independent actuary in respect of current and future service.
On transfer of staff to Via East Midlands, Nottinghamshire County Council have retained responsibility for the deficit of the Local Government Pension Scheme that relates to staff transferred. As a result, the company has not recognised any pension liability and the pension scheme is therefore accounted for as a defined contribution scheme.
The company also participates in a defined contribution pension scheme. Payments to this defined contribution scheme are charged as an expense when they fall due.
On transfer of staff to Via East Midlands, Nottinghamshire County Council have retained responsibility for the deficit of the Local Government Pension Scheme that relates to staff transferred. As a result, the company has not recognised any pension liability and the pension scheme is therefore accounted for as a defined contribution scheme.
The company also participates in a defined contribution pension scheme. Payments to this defined contribution scheme are charged as an expense when they fall due.
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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.
The estimated useful lives range as follows:
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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.
The estimated useful lives range as follows:
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.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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 only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Provisions for remedial works are recognised by the company using judgement through the review of major projects and likely remedial action that will be required to resolve matters that have been identified.
Provisions for possible professional indemnity claims that are uninsurable and potential professional indemnity excesses are recognised by the company at a level based on business experience.
A vehicles provision has been made to cover works required to ensure vehicles can be returned to operational status, the company has had to estimate these costs.
Valuation of incomplete contracts at the year-end: contracts are valued (both in terms of cost and revenue) by the in house team based on their experience in the industry and their knowledge of the contract in question.
The whole of the turnover is attributable to highways maintenance and facilities management.
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
12.TAXATION (CONTINUED)
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 31
VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Profit and loss account
Page 32
VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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 £723,218 (2025: £640,626). Contributions totalling £100,087 (2025: £84,163) were payable to the fund at the reporting date and are included in creditors.
Some employees of the company are members of the Nottinghamshire County Council LGPS, a multi-employer scheme administered by Nottinghamshire County Council under the regulations governing the Local Government Pension Scheme, a defined benefit scheme. Triennial actuarial valuations are performed by a qualified actuary using the “projected unit” method. The last formal valuation was undertaken at 31 March 2022.
Contributions
The employers’ contributions to the Local Government Pension Scheme by the Company for the period to 31 March 2026 were £2,002,081 (2025: £2,043,804). Contributions totalling £222,798 (2025: £225,571) were payable to the fund at the reporting date and are included in creditors. The employer’s contribution rate was fixed at 20.9% of pensionable pay, and the expected level of employer contributions for the year ended 31 March 2027 is £2,033,480 (£1,974,252 in 2025/26).
Contributions
The employers’ contributions to the Local Government Pension Scheme by the Company for the period to 31 March 2026 were £2,002,081 (2025: £2,043,804). Contributions totalling £222,798 (2025: £225,571) were payable to the fund at the reporting date and are included in creditors. The employer’s contribution rate was fixed at 20.9% of pensionable pay, and the expected level of employer contributions for the year ended 31 March 2027 is £2,033,480 (£1,974,252 in 2025/26).
Page 33
VIA EAST MIDLANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The company's parent is Nottinghamshire County Council (registered office: County Hall, West Bridgford, Nottingham, NG2 7QP). These financial statements are consolidated into the financial statements of Nottinghamshire County Council as at 31 March 2026 and these financial statements may be obtained from Nottinghamshire County Council's website.
Page 34