REGISTERED NUMBER: 08977396 (England and Wales)

Financial Statements

for the Year Ended 31 May 2025

for

Specialist Ground Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N S Morley

B W Heron

E T Ronald

REGISTERED OFFICE:

11 Chartmoor Road

Leighton Buzzard

Bedfordshire

LU7 4WG

REGISTERED NUMBER:

08977396 (England and Wales)

AUDITORS:

Magee Gammon Corporate Limited

Henwood House

Henwood

Ashford

Kent

TN24 8DH

FIXED ASSETS

Tangible assets

4

5,409,985

6,110,489

Investments

5

50

50

5,410,035

6,110,539

CURRENT ASSETS

Stocks

50,000

31,000

Debtors

6

2,072,068

2,591,877

Cash at bank

436,431

897,230

2,558,499

3,520,107

CREDITORS

Amounts falling due within one year

7

(2,507,881

)

(3,584,467

)

NET CURRENT ASSETS/(LIABILITIES)

50,618

(64,360

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,460,653

6,046,179

CREDITORS

Amounts falling due after more than one year

8

(1,394,546

)

(2,080,742

)

PROVISIONS FOR LIABILITIES

(1,102,804

)

(1,072,996

)

NET ASSETS

2,963,303

2,892,441

CAPITAL AND RESERVES

Called up share capital

96

96

Capital redemption reserve

4

4

Retained earnings

2,963,203

2,892,341

SHAREHOLDERS' FUNDS

2,963,303

2,892,441

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 25 September 2026 and were signed on its behalf by:

B W Heron - Director

1.	STATUTORY INFORMATION

Specialist Ground Engineering 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 (£).

Amounts are presented to the nearest £.

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.

Preparation of consolidated financial statements

The financial statements contain information about Specialist Ground Engineering Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Rendering of services

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Construction contracts

When the outcome of a contract can be measured reliably, the entity will recognise both income and costs by reference to the percentage of completion of the contract. If the outcome cannot be reliably measured, all costs are expensed and revenue is only recognised to the extent that it is probable that costs are recoverable.

When it is probable that a loss will occur on a contract, this is recognised in full immediately as an onerous contract provision. Interest, royalties and dividends interest income is recognised on an effective interest method and is adjusted for fees and finance charges.

Tangible fixed assets

Tangible fixed assets are capitalised on purchase. Tangible fixed assets which are rented prior to purchase are capitalised at the start of the rental period where it is reasonably certain the asset will be purchased after the rental period.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery etc - 20% on reducing balance based on utilisation

- 15% on reducing balance, then 5% on reducing balance after 2 years

- 15% on reducing balance, then 10% on reducing balance after 2 years

- 33% on cost

- 25% on cost

- 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised."

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

8,757,525

Additions

168,025

Disposals

(1,075,070

)

At 31 May 2025

7,850,480

DEPRECIATION

At 1 June 2024

2,647,036

Charge for year

413,218

Eliminated on disposal

(619,759

)

At 31 May 2025

2,440,495

NET BOOK VALUE

At 31 May 2025

5,409,985

At 31 May 2024

6,110,489

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 June 2024

6,832,199

Additions

151,010

Transfer to ownership

(1,123,143

)

At 31 May 2025

5,860,066

DEPRECIATION

At 1 June 2024

1,551,848

Charge for year

389,077

Transfer to ownership

(534,397

)

At 31 May 2025

1,406,528

NET BOOK VALUE

At 31 May 2025

4,453,538

At 31 May 2024

5,280,351

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2024

and 31 May 2025

50

NET BOOK VALUE

At 31 May 2025

50

At 31 May 2024

50

6.

DEBTORS

2025

2024

as restated

£

£

Amounts falling due within one year:

Trade debtors

438,852

1,362,957

Amounts owed by group undertakings

125,342

98,173

Amounts recoverable on contract

788,018

533,808

Other debtors

714,793

591,876

2,067,005

2,586,814

Amounts falling due after more than one year:

Other debtors

5,063

5,063

Aggregate amounts

2,072,068

2,591,877

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Hire purchase contracts (see note 9)

1,085,581

1,592,168

Trade creditors

1,142,980

1,690,911

Amounts owed to group undertakings

90,040

123,473

Taxation and social security

45,937

36,498

Other creditors

143,343

141,417

2,507,881

3,584,467

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Hire purchase contracts (see note 9)

1,394,546

2,080,742

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

as restated

£

£

Net obligations repayable:

Within one year

1,085,581

1,592,168

Between one and five years

1,394,546

2,080,742

2,480,127

3,672,910

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as restated

£

£

Hire purchase contracts

2,319,727

3,550,239

The amounts outstanding are secured on the assets to which they relate.

A charge was registered on 9 June 2020 for a fixed and floating charge over all obligations to the bank Santander PLC. At the balance sheet date there were no such obligations.

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

The Report of the Auditors was unqualified.

Andrew John Childs (Senior Statutory Auditor)

for and on behalf of Magee Gammon Corporate Limited

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2025 and 31 May 2024:

2025

2024

as restated

£

£

E T Ronald

Balance outstanding at start of year

15,000

170,000

Amounts repaid

-

(155,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,000

15,000

The directors loan is included in Other debtors. The above loan was interest free with no set repayment date.

13.	RELATED PARTY DISCLOSURES

14.	ULTIMATE CONTROLLING PARTY