REGISTERED NUMBER: 02664923 (England and Wales)

SURCO LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Smart

R M Stanbridge

C Birchall

J Smith

Dr A Evans

S W Hamlyn

M Hudson

SECRETARY:

J Gray

REGISTERED OFFICE:

2nd Floor

Dominion House

Sibson Road

Sale

Cheshire

M33 7PP

REGISTERED NUMBER:

02664923 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Benson

AUDITORS:

Murray Smith LLP

Chartered Accountants

Statutory Auditor

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

FIXED ASSETS

Tangible assets

4

-

625

Investments

5

526

526

526

1,151

CURRENT ASSETS

Stocks

500

500

Debtors

6

10,123

42,583

Cash at bank

42,900

39,452

53,523

82,535

CREDITORS

Amounts falling due within one year

7

418,710

399,151

NET CURRENT LIABILITIES

(365,187

)

(316,616

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(364,661

)

(315,465

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(364,662

)

(315,466

)

SHAREHOLDERS' FUNDS

(364,661

)

(315,465

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2026 and were signed on its behalf by:

D Smart - Director

C Birchall - Director

1.	STATUTORY INFORMATION

SURCO Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going Concern

The financial statements have been prepared on the going concern basis as the trustees of the parent charitable company have confirmed that they will continue to provide support.

Turnover

Turnover represents the value of goods and services sold during the period, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Associates and joint ventures

An entity is treated as an associated undertaking where the company exercises significant influence in that it has the power to participate in the operating and financial policy decisions. An entity is treated as a joint venture where the company is party to a contractual agreement with one or more parties to undertake an economic activity that is subject to joint control.

As the company is not a parent undertaking, interests in associated undertakings and joint ventures are accounted for using the cost method of accounting, meaning that the investments are stated at cost less any impairments. Income from associates and joint ventures is accounted for when the company becomes unconditionally entitled to the receipt of income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Employee benefits

(a) Wages and salaries and annual leave

Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions

The company operates a defined contribution pension scheme. Contributions to this scheme are recognised in profit or loss in the period in which they become payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2025

and 28 February 2026

30,215

DEPRECIATION

At 1 March 2025

29,590

Charge for year

625

At 28 February 2026

30,215

NET BOOK VALUE

At 28 February 2026

-

At 28 February 2025

625

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 March 2025

and 28 February 2026

526

NET BOOK VALUE

At 28 February 2026

526

At 28 February 2025

526

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company hold 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2026

2025

Joint Ventures

BK SURCO LIMITED

Suite 1901-2, 19th Floor, Hopewell Centre, 183 Queen's Road East,Wanchai,Hong Kong

Ordinary shares

50%

50%

Joint ventures

BK SURCO LIMITED

The principal activity of BK SURCO LIMITED is conduction of seminars on construction management. It's financial period end is 31 December.

The profit for the financial period of BK SURCO LIMITED was £59,052 and the aggregate amount of Capital and reserves at the end of the period was £235,602.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

6,592

24,196

Prepayments

3,531

18,387

10,123

42,583

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

9,662

7,908

Social security and other taxes

8,098

9,048

Amounts owed to parent undertaking

392,493

373,787

Other creditors

2,070

1,459

Accruals and deferred income

6,387

6,949

418,710

399,151

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2026

2025

value:

£

£

1

Ordinary

£1

1

1

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Benson (Senior Statutory Auditor)

for and on behalf of Murray Smith LLP

10.	CONTINGENT LIABILITIES

The company is a member of a Value Added Tax Group with Chartered Institution of Civil Engineering Surveyors. The VAT reclaimable by the group at the year end was £3,784 (2025: £616).

11.	PARENT AND ULTIMATE PARENT UNDERTAKING

The Chartered Institution of Civil Engineering Surveryors is the company's controlling related party by virtue of its 100% ownership of the share capital of the company.

No disclosure has been made of transactions with the parent company or wholly owned subsidiaries in accordance with the exemptions allowed by paragraph 33.1A of Financial Reporting Standard 102.

The company's immediate parent is the Chartered Institution of Civil Engineering Surveyors, a charity incorporated by Royal Charter, incorporated in England and Wales (company number: RC000832) (charity number: 1131469).

The most senior parent entity producing publicly available financial statements is Chartered Institution of Civil Engineering Surveryors. These financial statements are available upon request from the Charity Commision.