Project performance report · June 2026
M&E Subcontract · Leodis Developments Ltd
Director's summary · June 2026
At a glance
Forecast profit
£216,384
34.5% · £18,410 above priced
Received ahead
£109,649
Funded ahead of work, no retention
Complete
44.4%
By value certified · finish Nov 2026
Labour efficiency
£456 a day
GP per labour day, above the £297 target rate
£271,303 certified · £340,315 of work still to bill · cost has edged just ahead of value certified
Where the job stands today: what the client has paid, what has been certified as done, and what has been spent. The cash lead is read as timing rather than profit locked in, since it runs ahead of the work certified.
Performance scorecard · to date
Money in
£380,952
received, net of 5% VAT
Money certified
£271,303
value of completed work · 44.4%
Money spent
£204,921
cost to date · 50.0% of final cost
Cash received and value certified are shares of the £611,618 contract; cost incurred is a share of the £410,234 forecast final cost.
Receipts of £380,952 sit ahead of even the £343,089 applied to date, the client having funded the works in round sums ahead of the applications. The indicative cash margin is money in less cost, not certified profit, and is carried through to the resource section on that basis.
Gross profit to date
£176,031
£29,339 a month over six months
Fair share at target
£91,883
23% of the labour, valued at target
Above fair share
+£84,148
192% of its share of the target
Each of the 309 labour days drawn since January has returned £570 of gross profit, well clear of the £209 break even rate and the £297 target rate the whole business runs to. The gauge runs to £600 a day on this report to hold the rate.
Draws 23% of the labour over the six months on site but covers 62% of the £285,000 break even overhead for the period. Profit target for the period £405,000.
Average monthly days over the six months on site, against each trade's monthly capacity. Source: priced vs actual cost model, days used column.
| Measure | Annual | Period |
|---|---|---|
| Resource share of capacity | 11.3% | 22.7% |
| GP vs break even | 30.9% | 61.8% |
| GP vs profit target | 21.7% | 43.5% |
| Trade | Days used | Used / mth | Capacity / mth | % monthly | % annual |
|---|---|---|---|---|---|
| Plumbing & Heating | 108.0 | 18.0 | 94.6 | 19.0% | 9.5% |
| HVAC | 45.0 | 7.5 | 37.8 | 19.8% | 9.9% |
| Electrical | 153.0 | 25.5 | 94.6 | 27.0% | 13.5% |
| Trades | 306.0 | 51.0 | 227.0 | 22.5% | 11.2% |
The three trades draw 306 labour days; a further 3 sit in preliminaries, testing and utilities, taking the total to the 309 carried in the resource summary. Gross profit is on the cash basis set out in section 1.
Of the £410,234 forecast final cost, £204,921 has been spent, so the job is 50.0% through its cost while 44.4% certified by value. Cost has edged just ahead of value as the latest actuals have landed, most of it on plumbing and heating, where two thirds of the cost is already committed. The left panel sets how far each trade is through its forecast cost; the right splits cost incurred from cost still to come.
Bar is the share of each group's forecast final cost already spent. Plumbing and heating is furthest through, which is why its margin is now largely fixed. The lump sum lines, led by the Oldfield supply, sit early on cost.
What the remaining work is expected to require and return over the five months to November, and the risks that could move the forecast before the job closes out.
Performance scorecard · remaining work
Cost to complete
£205,313
spend still to come
Labour days left
175
across 5 months to Nov 2026
Gross profit to earn
£44,441
£8,888 a month
Gross profit still to earn
£44,441
£8,888 a month over five months
Fair share at target
£52,037
15% of the labour, valued at target
Against fair share
(£7,597)
85% of its share of the target
Each of the 175 labour days still to come returns £254 of gross profit, above the £209 break even rate but short of the £297 target rate, as the remaining lines carry more supply than labour.
Draws 15% of the labour over the five months to November but covers 19% of the £237,500 break even overhead for the period, so it still returns more overhead than the labour it uses. Profit target for the period £337,500.
Filled shows the days Staveley 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). Break even overhead is £570,000 a year; the profit target adds £240,000.
| Measure | Annual | Period |
|---|---|---|
| Resource share of capacity | 6.4% | 15.4% |
| GP vs break even | 7.8% | 18.7% |
| GP vs profit target | 5.5% | 13.2% |
| Trade | Days left | Need / mth | Capacity / mth | % monthly | % annual |
|---|---|---|---|---|---|
| Plumbing & Heating | 20.0 | 4.0 | 94.6 | 4.2% | 1.8% |
| HVAC | 45.0 | 9.0 | 37.8 | 23.8% | 9.9% |
| Electrical | 100.0 | 20.0 | 94.6 | 21.1% | 8.8% |
| Trades | 165.0 | 33.0 | 227.0 | 14.5% | 6.1% |
The three trades leave 165 labour days; a further 10 sit in preliminaries, testing and utilities, taking the total to the 175 carried in the resource summary.
These are the costed trades whose forecast cost now differs from the price. Plumbing and heating has eroded heavily, but with two thirds of its cost spent the movement is close to locked rather than a live risk. Against it, electrical and heating ventilation are both forecasting ahead of price as their confirmed costs land under budget. Beyond the trades, preliminaries is the line to watch on data rather than performance, forecasting a final cost of only £2,600 against a £10,000 price, which lifts its margin to 85% and should be confirmed.
| Trade | Charge | Priced margin | Forecast margin | Movement | Cost spent |
|---|---|---|---|---|---|
| Plumbing & Heating | £56,070 | 18.0% | 1.3% | -16.7 pts | 66% |
| Trade | Charge | Priced margin | Forecast margin | Movement | Cost spent |
|---|---|---|---|---|---|
| Electrical | £184,040 | 39.2% | 47.2% | +8.0 pts | 53% |
| HVAC | £139,755 | 51.3% | 55.3% | +3.9 pts | 69% |
Cost spent is the share of each trade's forecast final cost already incurred. All three trades are more than half spent, so these movements are largely realised rather than forecast. Preliminaries is excluded here and carried as a data risk below.
Plumbing and heating margin at near breakeven
The plumbing and heating package is forecast to finish at £720 of gross profit, a 1.3% margin, against a priced 18.0%, as cost has run ahead of budget to a final £55,350. Two thirds of that cost is spent, so the position is close to fixed, but the remaining scope should be reviewed before further cost is committed.
Owner: Operations — action: review the plumbing and heating cost profile against the works still to complete
Preliminaries forecast well below its price
Preliminaries carries £17,450 of value and is forecasting a final cost of only £2,600 against a £10,000 price, which lifts its margin to 85% and adds about £7,400 to the whole job forecast. Until that final cost is confirmed the priced position is the safer reference, so the headline 34.5% should be read as carrying a small provisional element.
Owner: Commercial — action: confirm the forecast final cost for preliminaries
Cash received well ahead of value
Receipts of £380,952 net of VAT exceed the value of completed work by £109,649, and sit ahead of even the £343,089 applied, with no retention held. This is favourable for cash now, but future applications carry proportionally more cost than cash, most of it in the supply heavy Oldfield line, so the funding surplus is expected to narrow as the job matures.
Owner: Commercial — action: monitor cost to value and to cash as the programme completes
Work completion not recorded for several applied lines
Management and preliminaries, the basement and ground floor underfloor heating, the pool house provision and the MEP testing line are applied at 100% but carry no recorded work completion percentage, so their value of completed work reads as nil and the certified figure of £271,303 is understated. These should be confirmed to give an accurate completion figure.
Owner: Finance — action: obtain work complete percentages for the applied main contract lines
Two source documents not fully reconciled
The cost model values the scope at £626,618 against the £611,618 certified contract, the difference being the design package and the savings carried gross in the model. The cash and value figures in this report follow the application schedule; the cost, margin and forecast figures follow the priced vs actual cost model.
Owner: Commercial — action: tie the two schedules together line by line at the next valuation
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
£410,234
£18,410 under budget
Contract value
£626,618
cost model basis
Forecast gross profit
£216,384
34.5% margin
This is how the job was priced set against where it is now forecast to land, taken from the priced vs actual cost model. The work was priced to return £197,974 of gross profit at 31.6%. On current costs it is forecast to deliver £216,384 at 34.5%, a favourable movement of £18,410. That comes from electrical and heating ventilation landing under budget, part offset by the plumbing and heating overrun, with a further £7,400 still resting on preliminaries. The chart shows where the movement comes from trade by trade.
Priced gross profit
£197,974
31.6% on £626,618
Forecast gross profit
£216,384
34.5% — electrical and HVAC confirmed
Gross profit variance
+£18,410
+2.9 pts vs price · favourable
Net movement +£18,410. The three costed trades net +£10,810; the other lump sum lines add a further +£7,600, chiefly the preliminaries cost revision, which remains provisional.
The table sets the priced cost and margin for each trade against the forecast. Heating ventilation is the strongest performer at 55.3%, with electrical close behind at 47.2% as its confirmed costs have come in under the priced budget. Plumbing and heating is the one trade eroding, down to 1.3% as cost has run ahead of price. The remaining lump sum lines, led by the Oldfield supply and the utilities, are grouped together as they are let as fixed packages rather than measured by trade.
| Trade | Charge | Priced cost | Priced margin | Forecast cost | Forecast margin | Movement |
|---|---|---|---|---|---|---|
| Plumbing & Heating | £56,070 | £46,000 | 18.0% | £55,350 | 1.3% | -16.7 pts |
| HVAC | £139,755 | £68,000 | 51.3% | £62,500 | 55.3% | +3.9 pts |
| Electrical | £184,040 | £111,884 | 39.2% | £97,225 | 47.2% | +8.0 pts |
| Other lump sum lines | £246,753 | £202,759 | 17.8% | £195,159 | 20.9% | +3.1 pts |
| Full contract | £626,618 | £428,644 | 31.6% | £410,234 | 34.5% | +2.9 pts |
| Trade | Charge | Priced margin | Forecast margin | Movement |
|---|---|---|---|---|
| Plumbing & Heating | £56,070 | 18.0% | 1.3% | -16.7 pts |
| Trade | Charge | Priced margin | Forecast margin | Movement |
|---|---|---|---|---|
| Electrical | £184,040 | 39.2% | 47.2% | +8.0 pts |
| HVAC | £139,755 | 51.3% | 55.3% | +3.9 pts |
The other lump sum lines carry a net improvement, chiefly the preliminaries cost revision, which remains provisional. Utilities water and gas carry small negative margins and are listed in the full cost model below.
Forecast gross profit
£220,472
£20,043 a month over eleven months
Fair share at target
£143,921
19% of the labour, valued at target
Above fair share
+£76,551
153% of its share of the target
Across the full eleven months each labour day returns £456 of gross profit, clear of the £209 break even rate and the £297 target rate the whole business runs to.
Draws 19% of the labour over the eleven months but covers 42% of the £522,500 break even overhead for the period. Return runs well ahead of the resource consumed. Profit target for the period £742,500.
Average monthly days over the eleven months from January to November, against each trade's monthly capacity. Whole job days are 128 plumbing and heating, 90 HVAC and 253 electrical, 471 across the trades.
| Measure | Annual | Period |
|---|---|---|
| Resource share of capacity | 17.8% | 19.4% |
| GP vs break even | 38.7% | 42.2% |
| GP vs profit target | 27.2% | 29.7% |
| Trade | Days | Used / mth | Capacity / mth | % monthly | % annual |
|---|---|---|---|---|---|
| Plumbing & Heating | 128.0 | 11.6 | 94.6 | 12.3% | 11.3% |
| HVAC | 90.0 | 8.2 | 37.8 | 21.6% | 19.8% |
| Electrical | 253.0 | 23.0 | 94.6 | 24.3% | 22.3% |
| Trades | 471.0 | 42.8 | 227.0 | 18.9% | 17.3% |
The three trades draw 471 labour days; a further 13 sit in preliminaries, testing and utilities, taking the total to 484. The resource gross profit of £220,472 is struck as the cash to date plus the remaining measured works less remaining cost, and so runs about £4,000 above the £216,384 priced margin because the client has paid ahead of the work certified.
| Line | Charge | Priced cost | Cost to date | Forecast cost | Forecast margin |
|---|---|---|---|---|---|
| Costed trades | |||||
| Plumbing & Heating | £56,070.00 | £46,000.00 | £36,350.00 | £55,350.00 | 1.3% |
| HVAC (AC / Vent & Uplift) | £139,754.62 | £68,000.00 | £43,050.00 | £62,500.00 | 55.3% |
| Electrical (net of savings) | £184,040.00 | £111,884.50 | £51,700.00 | £97,224.50 | 47.2% |
| Other lump sum lines | |||||
| Oldfield Lutron Supply | £107,309.40 | £95,968.40 | £9,550.00 | £95,968.40 | 10.6% |
| Underfloor Heating | £37,279.00 | £37,279.00 | £32,778.50 | £37,279.00 | 0.0% |
| Fire subcontracted | £21,700.00 | £13,136.00 | £1,758.36 | £13,136.00 | 39.5% |
| Security / Intruder subcontracted | £14,615.00 | £8,592.00 | £1,150.11 | £8,592.00 | 41.2% |
| CCTV subcontracted | £16,820.00 | £10,848.00 | £8,420.09 | £10,848.00 | 35.5% |
| Wardrobe Facial Recognition subcontracted | £3,110.00 | £2,349.00 | £314.43 | £2,349.00 | 24.5% |
| Design | £15,000.00 | £11,900.00 | £7,825.00 | £11,900.00 | 20.7% |
| Testing & Commissioning | £3,600.00 | £2,000.00 | £0.00 | £2,000.00 | 44.4% |
| Utilities — Power | £3,500.00 | £3,642.94 | £3,242.94 | £3,242.94 | 7.3% |
| Utilities — Water | £2,370.00 | £2,770.00 | £2,570.00 | £2,970.00 | (25.3%) |
| Utilities — Gas | £4,000.00 | £4,274.13 | £3,874.13 | £4,274.13 | (6.9%) |
| Preliminaries cost provisional | £17,450.00 | £10,000.00 | £1,937.61 | £2,600.00 | 85.1% |
| Full contract | £626,618.02 | £428,643.97 | £204,921.18 | £410,233.97 | 34.5% |
Charge is the cost model contract value, which carries the savings gross and so reads £15,000 above the £611,618 certified contract. Electrical is shown net of the intruder, fire and gate access savings. Preliminaries is forecasting a final cost of £2,600 and is flagged pending confirmation.
| Ref | Description | Contract value | % applied | % work complete | Value certified |
|---|---|---|---|---|---|
| Main contract | |||||
| 1.01 | Management & Preliminary Costs | £15,700.00 | 100.0% | — | £0.00 |
| 1.02 | UFH — Basement | £9,781.00 | 100.0% | — | £0.00 |
| 1.03 | UFH — Basement Upgrade Pipe Spacing | £1,168.00 | 100.0% | — | £0.00 |
| 1.04 | UFH — Ground Floor | £10,371.00 | 100.0% | — | £0.00 |
| 1.05 | UFH — Ground Floor Upgrade Pipe Spacing | £1,168.00 | 100.0% | — | £0.00 |
| 1.06 | UFH — First Floor | £13,726.00 | 100.0% | 100.0% | £13,726.00 |
| 1.07 | UFH — First Floor Upgrade Pipe Spacing | £1,065.00 | 100.0% | 100.0% | £1,065.00 |
| 1.08 | AC & VENT | £93,532.00 | 60.0% | 62.0% | £57,989.84 |
| 1.09 | Electrical Work | £148,660.00 | 60.0% | 50.0% | £74,330.00 |
| 1.10 | Plumbing & Heating | £51,500.00 | 75.0% | 65.0% | £33,475.00 |
| 1.11 | Sanitaryware Installation | — | — | — | £0.00 |
| 1.12 | Provision to Pool House | £2,110.00 | 50.0% | — | £0.00 |
| 1.13 | MEP Testing & Commissioning | £3,600.00 | 50.0% | — | £0.00 |
| Variations signed off | |||||
| 2.01 | Fire Opt 2 | £21,700.00 | 50.0% | 17.5% | £3,797.50 |
| 2.02 | Oldfield | £107,309.40 | 10.0% | 10.0% | £10,730.94 |
| 2.03 | Skips | £1,750.00 | 100.0% | 50.0% | £875.00 |
| 2.04 | Utilities — Power | £3,500.00 | 100.0% | 100.0% | £3,500.00 |
| 2.05 | Utilities — Water | £2,370.00 | 100.0% | 100.0% | £2,370.00 |
| 2.06 | Utilities — Gas | £4,000.00 | 100.0% | 100.0% | £4,000.00 |
| 2.07 | Uplift Cast Effect Waste | £2,460.00 | 100.0% | 100.0% | £2,460.00 |
| 2.08 | Electrical Review | £57,650.00 | 50.0% | 50.0% | £28,825.00 |
| 2.09 | Intruder | £14,615.00 | 50.0% | 17.5% | £2,557.62 |
| 2.10 | AC & VENT Uplift | £46,222.62 | 50.0% | 62.0% | £28,658.02 |
| 2.11 | CCTV | £16,820.00 | 50.0% | 17.5% | £2,943.50 |
| 2.12 | Wardrobe Facial Recognition | £3,110.00 | 50.0% | 17.5% | £544.25 |
| Savings | |||||
| 4.02 | Saving — Intruder | (£8,130.00) | — | — | — |
| 4.03 | Saving — Fire | (£13,700.00) | — | — | — |
| 4.04 | Saving — Gate Access | (£440.00) | — | — | — |
| Contract total | £611,618.02 | 56.1% | £271,303.43 | ||
Value certified is the contract value at the recorded work complete percentage. The main contract lines applied at 100% with no recorded work complete read as nil certified, so the £271,303 total is understated pending those percentages. There are no variations pending at this date; the savings on intruder, fire and gate access are already reflected in the contract value.
The client has paid £400,000 to date, which is £380,952 once the five percent VAT of £19,048 is stripped out. Against that, the value of completed work stands at £271,303, or 44.4% of the £611,618 contract, and cost incurred is £204,921. Receipts therefore sit £109,649 ahead of the work certified, and with no retention held on this contract the works are funded well in advance of progress. On a cash basis the money in less the money spent leaves an indicative £176,031, but that figure is flattered by the payment lead and will narrow as later applications carry proportionally more cost than cash.