KBR (ASPIRE CONSTRUCTION VENTURES) LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on a going concern basis which they consider appropriate for the following reasons. At the balance sheet date, the company was in a net current asset position of £43.1 million (including cash at bank and in hand of £36.8 million), a net asset position of £7.3 million and the holder of a single long-term construction contract as part of a Private Finance Initiative (the ultimate customer being the UK Ministry of Defence). The directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds to meet its liabilities as they fall due for that period. A scenario has been modelled as a worst-case severe downside scenario, which includes the realisation of 100% probability of every risk identified, not just the contingency held on the contract at 2024 year end. Other components of the worse case scenario included non-payment of contractual variable consideration and acceleration of large contractual payments into the forecast period. Even in this scenario, the forecasts indicate the Company will have sufficient funds to meet its liabilities as they fall due. The Directors consider the above scenario to be unlikely. Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Significant events

• “commercial issues closing out the ABP contract have been substantially completed except for the final settlement of the gainshare payment, contractually not required until late 2025.”
• “During the period the pipeline of future works has continued to be developed, and a number of these opportunities have progressed into studies and detailed design work during 2024, instructed via the existing Authority Notice of Change ("ANC") process under the ABP contract. The key themes are Future Soldier (changes emerging from the 2021 defence review in Aldershot, Warminster and Tidworth), infrastructure changes to support equipment programmes (e.g. Ajax, Boxer, JFST) and decarbonisation of the estate.”
• “As the 12-year defect period associated with the initial PAC phase of construction activities undertaken by ADCW coming to an end in 2025, Aspire Defence Limited put in place a review process ("Project Silk") to seek to establish the existence of any defects.”
• “There are no subsequent events that require disclosure or impact the company's financial statements for the year ending 31 December 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -3.3%

  £5,126,000 → £4,958,000

• Cash

  —

  Not reported

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Operating profit

  -118%

  £3,263,000 → -£588,000

• Profit before tax

  -71.6%

  £5,076,000 → £1,443,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers