Project performance report · July 2026 · Application 3
M&E Subcontract · Leodis Developments Ltd
Director's summary · July 2026
At a glance
Forecast margin
£30,826
30.3% · £1,428 above the 28.9% price
Applied ahead of cost
£11,201
Value applied now leads cost, up from £3,952 at June
Complete
44.7%
By value applied · about two months to run
Labour efficiency
£246 a day
Whole job GP per labour day, above break even, below the £297 target
Billed sits £11,201 above spent, so the job is funding itself. £56,175 of work is still to bill.
| Trade | Labour days | Labour | Materials & packages | Priced cost | Sell value | Priced margin | Margin % |
|---|---|---|---|---|---|---|---|
| Plumbing & Heating | 51.0 | £10,200 | £18,370 | £28,570 | £38,850 | £10,280 | 26.5% |
| Electrical — General | 54.5 | £10,900 | £12,139 | £23,039 | £38,000 | £14,961 | 39.4% |
| Electrical — Fire Detection | 7.0 | £1,400 | £3,843 | £5,243 | £10,000 | £4,757 | 47.6% |
| Design | — | £0 | £4,000 | £4,000 | £4,500 | £500 | 11.1% |
| Underfloor Heating | — | £0 | £11,392 | £11,392 | £11,892 | £500 | 4.2% |
| Variation VO1 — Cold Water Main | 0.25 | £50 | £50 | £100 | £152 | £52 | 34.2% |
| Main contractor discount | — | — | — | — | (£1,652) | (£1,652) | — |
| Full contract | 112.75 | £22,550 | £49,794 | £72,344 | £101,742 | £29,398 | 28.9% |
Labour is 112.75 days at the £200 day rate; materials and packages are the priced cost less labour. Sell value is the cost model contract value, which sums to £101,742 after the £1,652 discount and the £152 VO1. Preliminaries and management carries no priced charge or cost this month, so it is not shown here; it has since drawn £1,012 of equipment hire, which appears in the forecast. Only the plumbing and heating and electrical trades carry site labour.
Where the job stands at 31 July: what has been applied for, what is left to certify after retention, and what has been spent. The cost and the application are drawn to the same date, so the two can be read like for like.
Performance scorecard · to date
Value applied
£45,415
44.7% of the contract, cumulative
Certified net
£43,144
after 5% retention of £2,271
Money spent
£34,214
cost to date · 48.2% of forecast cost
Cumulative applied is £45,415, or 44.7% of the £101,590 gross application, £12,216 of it this period. After 5% retention of £2,271 the client owes £43,144 net to date, with £11,605 due on this application. Cost incurred is £34,214, so value applied sits £11,201 ahead of cost, a wider lead than the £3,952 at June, with £56,175 of measured works still to bill.
Bars sit on different bases, value applied on the £101,590 gross application and cost on the £70,916 forecast final cost, so cost reads the higher share even though in pounds value leads.
The cost model and the application are both drawn to 31 July, so value applied and cost are compared like for like. VO1 (£152) sits in the cost model but has not yet been put on the application, so the contract of record is £101,742 while certification runs against the £101,590 gross application. This margin to date is carried into the resource section as the current gross profit.
Gross profit to date
£11,201
£2,800 a month over four months
Fair share at target
£29,661
11% of the labour, valued at target
Below fair share
(£18,461)
38% of its share of the target
Each of the 99.75 labour days drawn to 31 July has returned £112 of gross profit, still below the £209 break even rate though well up on June's £48, because cost has run close to the value applied. The gauge runs to £900 a day on this report so the remaining work sits on the same scale.
Draws 11% of the labour over the four months to date but covers only 6% of the £190,000 break even overhead for the period. Profit target for the period £270,000.
Average monthly days over the four months to date, against each trade's monthly capacity of 94.6 days. This job draws only the plumbing and heating and electrical trades.
| Measure | Annual | Period |
|---|---|---|
| Resource share of capacity | 3.7% | 11.0% |
| GP vs break even | 2.0% | 5.9% |
| GP vs profit target | 1.4% | 4.1% |
| Trade | Days used | Used / mth | Capacity / mth | % monthly | % annual |
|---|---|---|---|---|---|
| Plumbing & Heating | 37.5 | 9.4 | 94.6 | 9.9% | 3.3% |
| Electrical | 62.25 | 15.6 | 94.6 | 16.5% | 5.5% |
| Trades | 99.75 | 24.9 | 189.2 | 13.2% | 4.4% |
All 99.75 labour days to date are trade days; the design and underfloor heating lines carry no labour. Gross profit to date is the cumulative value applied less cost incurred, both to 31 July.
Of the £70,916 forecast final cost, £34,214 is spent, so the job is 48.2% through its cost against 44.7% applied by value. Labour is well ahead of materials: 88% of the priced days are used but only 35% of the £30,402 materials budget. The material spend is back loaded into work that has barely started, so progress in days runs ahead of how far through the cost the job really is.
Bar is the share of each group's forecast final cost already spent. Electrical is furthest through at 64%, while the underfloor heating package, unstarted, holds most of the unspent cost.
What the remaining work is expected to require and return over the roughly two months to completion, and the risks that could move the forecast before the job closes out. The remaining figures are the price less spend to date, not a fresh site assessment.
Performance scorecard · remaining work
Cost to complete
£34,485
priced basis, spend still to come
Labour days left
34.0
of 133.75 forecast · about 2 months
Gross profit to earn
£21,690
£10,845 a month
Gross profit still to earn
£21,690
£10,845 a month over two months
Fair share at target
£10,110
7% of the labour, valued at target
Above fair share
+£11,580
215% of its share of the target
Each of the 34 labour days still to come returns £638 of gross profit on the priced basis, well clear of the £297 target rate, as the remaining lines carry far more material than labour. Read against the price rather than a fresh site assessment.
Draws 7% of the labour over the two months to completion but covers 23% of the £95,000 break even overhead for the period, so it returns far more overhead than the labour it uses. Profit target for the period £135,000.
Filled shows the days Meadow Croft needs each month; the rest is spare for other work. Figures are trade labour only. Total capacity is 2,724 days a year (P&H 1,135, Electrical 1,135, HVAC 454); this job draws no HVAC. Break even overhead is £570,000 a year; the profit target adds £240,000.
| Trade | Aug | Sep | Total | Peak capacity |
|---|---|---|---|---|
| Plumbing & Heating | 6.0 | 6.0 | 12.0 | 6% |
| Electrical | 11.0 | 11.0 | 22.0 | 12% |
| Trade days | 17.0 | 17.0 | 34.0 |
The remaining 34 days are split evenly across August and September for now, per Cal, until a firmer programme is set. Peak capacity is the busiest month's days against what we can do in that trade in a month, 94.6 days for both plumbing and heating and electrical. This job draws no HVAC, and these numbers feed the company wide resource plan alongside every other live job.
| Measure | Annual | Period |
|---|---|---|
| Resource share of capacity | 1.2% | 7.5% |
| GP vs break even | 3.8% | 22.8% |
| GP vs profit target | 2.7% | 16.1% |
| Trade | Days left | Need / mth | Capacity / mth | % monthly | % annual |
|---|---|---|---|---|---|
| Plumbing & Heating | 12.0 | 6.0 | 94.6 | 6.3% | 1.1% |
| Electrical | 22.0 | 11.0 | 94.6 | 11.6% | 1.9% |
| Trades | 34.0 | 17.0 | 189.2 | 9.0% | 1.5% |
All 34 remaining labour days are trade days. Remaining gross profit is the future measured works of £56,175 less the priced remaining cost of £34,485.
Two lines move against the price. Plumbing and heating is forecast £2,270 cheaper than priced, lifting its margin from 26.5% to 32.3%. Against it, preliminaries has drawn £1,012 of unplanned equipment hire, a straight cost with no charge behind it. Electrical holds its 41%, though its labour is now forecast at 84 days against the 61.5 priced, an overrun the materials saving, £11,363 against the £15,982 tendered, is covering. The plumbing and heating gain outweighs the preliminaries cost, leaving the job £1,428 ahead of the price.
| Line | Charge | Priced margin | Forecast margin | Movement | Cost spent |
|---|---|---|---|---|---|
| Plumbing & Heating | £38,850 | 26.5% | 32.3% | +5.8 pts | 50% |
| Electrical | £48,000 | 41.1% | 41.2% | +0.1 pts | 64% |
| Line | Charge | Priced margin | Forecast margin | Movement | Cost spent |
|---|---|---|---|---|---|
| Preliminaries & Management | £0 | — | — | (£1,012) | 100% |
Cost spent is the share of each line's forecast final cost already incurred. Plumbing and heating is half spent, so its saving is still partly a forecast and could move as the materials are bought; electrical is 64% spent with the labour overrun already largely committed. Preliminaries has no charge behind its £1,012, a pure drag. Design and underfloor heating are forecast to finish at their priced cost.
Electrical labour is running past the priced days
Electrical is now forecast at 84.25 labour days against the 61.5 priced, and has already drawn 62.25, more than the full priced allowance, with 22 still to come. The trade margin holds at 41% only because the materials are landing at £11,363 against the £15,982 tendered. If that saving does not fully hold when the parts are bought, the labour overrun would come through to the margin.
Owner: Operations. Action: confirm the remaining electrical labour and lock the material prices that are covering it
Remaining cost is priced, not reassessed
With no dedicated project manager on site, the 34 remaining days and £14,293 of remaining materials are the quote less spend to date, not an assessment of what the work still needs. This understates the risk of an overrun and of under application, both of which can only be confirmed by a site review of progress against cost.
Owner: Operations. Action: obtain a site view of work remaining to test the priced figures
Material spend is heavily back loaded
Only 35% of the materials budget has been spent. The plant room, the underfloor heating package and the balance of the electrical materials are still to be bought, so the largest exposure to price movement sits ahead of the job. The favourable plumbing and heating and electrical materials forecasts both depend on those prices holding when the parts are ordered.
Owner: Procurement. Action: confirm prices on the plant room, underfloor heating and remaining electrical materials before order
Cost actuals tracked only at trade level
The cost model records spend against Plumbing and Heating and Electrical as a whole, not against each room or line, so cost performance cannot be checked line by line. The per room breakdown in the price remains a budget only view until actuals are captured at that level.
Owner: Commercial. Action: capture cost at line level if closer monitoring is required
The current position and the forecast for the remainder combined into a single view of how the job is expected to finish against the price.
Performance scorecard · at completion
Forecast final cost
£70,916
£1,428 under budget
Contract value
£101,742
net of £1,652 discount, incl VO1
Forecast gross profit
£30,826
30.3% margin
Priced to return £29,398 of gross profit at 28.9%, the job is forecast to deliver £30,826 at 30.3%, £1,428 ahead. The gain comes mostly from plumbing and heating, £2,270 cheaper than priced, with small additions from electrical and VO1, against £1,012 of preliminaries cost. The chart shows where it comes from.
Priced gross profit
£29,398
28.9% on £101,742
Forecast gross profit
£30,826
30.3%, from the plumbing and heating cost saving
Gross profit variance
+£1,428
+1.4 pts vs price · favourable
Net movement +£1,428. Plumbing and heating adds +£2,270 as its materials and days come in under, electrical +£70 and VO1 +£100, preliminaries and management costs (£1,012); every other line finishes at its priced margin.
The table sets each line's priced cost and margin against the forecast. Plumbing and heating improves to 32.3% on a £2,270 cost saving and is the largest costed trade; electrical holds 41.2%, its labour overrun offset by a materials saving. Preliminaries carries £1,012 of equipment hire against no charge, a straight drag, and underfloor heating stays the thinnest line at 4.2%. Every line other than the two movers is the priced margin carried forward.
| Line | Charge | Priced cost | Priced margin | Forecast cost | Forecast margin | Movement |
|---|---|---|---|---|---|---|
| Plumbing & Heating | £38,850 | £28,570 | 26.5% | £26,300 | 32.3% | +5.8 pts |
| Electrical | £48,000 | £28,282 | 41.1% | £28,213 | 41.2% | +0.1 pts |
| Preliminaries & Management | £0 | £0 | — | £1,012 | — | (£1,012) |
| Design | £4,500 | £4,000 | 11.1% | £4,000 | 11.1% | — |
| Underfloor Heating | £11,892 | £11,392 | 4.2% | £11,392 | 4.2% | — |
| Variation VO1 & discount | (£1,500) | £100 | — | £0 | — | +£100 |
| Full contract | £101,742 | £72,344 | 28.9% | £70,916 | 30.3% | +1.4 pts |
Charge is the cost model sell value, which sums to the £101,742 contract of record. Electrical combines the general works and the fire detection line. The VO1 and discount row nets the £152 variation against the (£1,652) main contractor discount. Only plumbing and heating, electrical and preliminaries move against the price; the rest are the priced margins carried into the forecast.
Forecast gross profit
£32,891
£5,482 a month over six months
Fair share at target
£39,771
10% of the labour, valued at target
Against fair share
(£6,880)
83% of its share of the target
Across the whole job each of the 133.75 labour days returns £246 of gross profit, clear of the £209 break even rate and approaching the £297 target rate the whole business runs to.
Draws 10% of the labour across the whole job but covers 12% of the £285,000 break even overhead for the six months, so it returns more overhead than the labour it draws. Profit target for the period £405,000.
Average monthly days over the six months of the job, against each trade's monthly capacity. Whole job days are 49.5 plumbing and heating and 84.25 electrical, 133.75 across the trades.
| Measure | Annual | Period |
|---|---|---|
| Resource share of capacity | 4.9% | 9.8% |
| GP vs break even | 5.8% | 11.5% |
| GP vs profit target | 4.1% | 8.1% |
| Trade | Days | Used / mth | Capacity / mth | % monthly | % annual |
|---|---|---|---|---|---|
| Plumbing & Heating | 49.5 | 8.3 | 94.6 | 8.7% | 4.4% |
| Electrical | 84.25 | 14.0 | 94.6 | 14.8% | 7.4% |
| Trades | 133.75 | 22.3 | 189.2 | 11.8% | 5.9% |
The whole job gross profit of £32,891 is struck as the value applied to date plus the remaining measured works less the priced remaining cost, and so runs about £2,066 above the £30,826 cost model forecast. The gap is the £2,218 by which the priced remaining cost sits below the model's forecast final cost, less the £152 VO1 the model carries in its charge but the application has not yet picked up. The break even and target hurdles are the six month figures for the job, £285,000 and £405,000.
| Line | Charge | Priced cost | Cost to date | Forecast cost | Forecast margin |
|---|---|---|---|---|---|
| Costed trades | |||||
| Plumbing & Heating | £38,850.00 | £28,570.00 | £13,150.00 | £26,300.00 | 32.3% |
| Electrical — General | £38,000.00 | £23,039.40 | £18,052.18 | £22,969.68 | 39.6% |
| Electrical — Fire Detection not started | £10,000.00 | £5,243.00 | £0.00 | £5,243.00 | 47.6% |
| Other lines | |||||
| Preliminaries & Management equipment hire | £0.00 | £0.00 | £1,011.68 | £1,011.68 | drag |
| Design | £4,500.00 | £4,000.00 | £2,000.00 | £4,000.00 | 11.1% |
| Underfloor Heating subcontracted | £11,892.00 | £11,392.00 | £0.00 | £11,392.00 | 4.2% |
| Variation VO1 — Cold Water Main not on application | £151.92 | £100.00 | £0.00 | £0.00 | 100.0% |
| Main contractor discount | (£1,652.00) | — | — | (£1,652.00) | — |
| Full contract | £101,741.92 | £72,344.40 | £34,213.86 | £70,916.36 | 30.3% |
Two lines differ from the priced budget: plumbing and heating is forecast £2,270 cheaper, and preliminaries, priced at nil cost, has drawn £1,012 of equipment hire. Electrical general is level on cost, a materials saving offsetting a labour overrun. Cost to date is captured at trade level only.
| Ref | Description | Contract value | % complete | Applied |
|---|---|---|---|---|
| 1.01 | Plumbing / DWS Distribution / Heating Distribution | £15,320.00 | 55% | £8,426.00 |
| 1.02 | Above Ground Drainage | £3,100.00 | 80% | £2,480.00 |
| 1.03 | Underfloor Heating & Screed to Ground Floor | £11,892.00 | 0% | £0.00 |
| 1.04 | Install 7no x Radiators to First Floor client now supplies radiators | £3,490.00 | 30% | £1,047.00 |
| 1.05 | Plant Room | £8,840.00 | 0% | £0.00 |
| 1.06 | Temporary Mechanical Services to Basement | £1,400.00 | 0% | £0.00 |
| 1.07 | Commissioning / Builders Work / Insulation | £6,700.00 | 20% | £1,340.00 |
| 1.08 | Electrical Works | £48,000.00 | 60% | £28,800.00 |
| 1.09 | As Built Drawings | £4,500.00 | 90% | £4,050.00 |
| Contract subtotal | £103,242.00 | 44.7% | £46,143.00 | |
| Main contractor discount | (£1,652.00) | — | (£728.40) | |
| Build cost total | £101,590.00 | 44.7% | £45,414.60 |
Percent complete is assessed on sell value, line by line, from Application 3 to 31 July 2026. The first floor radiator line has fallen from £4,900 to £3,490 as the client now supplies the radiators. Of the cumulative £45,415, this application adds £12,216; after five percent retention of £611 the net due on this application is £11,605.
This is the tender baseline the three tabs are measured against. The £101,742 contract is £72,344 of cost, £22,550 of it labour across 112.75 days at the £200 day rate and £49,794 of materials, leaving £29,398 of gross profit at 28.9% after the £1,652 discount. Two things changed the shape since June: the client now supplies the first floor radiators, which took £1,410 out of the contract, and the cost model was rebalanced so electrical carries its full £48,000 value while preliminaries, once a £4,000 pure margin line, now sits at nil. On the new split plumbing and heating is priced at 26.5% and electrical at 41.1%.