August was the strongest month of the year on the books. Gross profit of £64,347 came in £16,847 above the £47,500 target and the bottom line was £29,059. As recorded, that does not rescue the year: January to August 2026 made £300,394 of gross profit against a £380,000 target, £79,606 short, only 2 of the 8 months reached the target, and the bottom line stands at (£66,126).Matched to the work, the year reads differently. The Staveley advance was booked in November and December 2025, before the job started; releasing it over the days actually worked puts £98,895 into January to August 2026. Gross profit becomes £399,289, £19,289 ahead of the £380,000 target, 5 of the 8 months reach it, and the bottom line is £32,769. August alone makes £77,069 of gross profit on this basis.
As recorded, 2 of the 8 months reached the £47,500 target and the bottom line was positive in 3. The weakest were July, which turned £152,827 of revenue into £6,204 and April, which turned £131,979 of revenue into £8,359. Since the financial year started in June, June to August 2026 made £108,633 against a £142,500 target.Matched to the work, the bottom line is positive in 5 of the 8 months, and the release follows the site: March carries the most, £23,333 on 91.25 person days. 5 of the 8 months now reach the target, and January, April and July still fall short. Since June, June to August 2026 makes £143,601 against £142,500.
August turned £146,747 of revenue into £64,347 of gross profit, a margin of 43.8%. The July 2026 forecast expected £193,182 of revenue and £70,790 of gross profit, so revenue landed £46,435 below it and gross profit £6,442 below. Trading overheads were £22,136 against a £28,592 budget, helped by a £2,021 rent credit. A 43.8% margin is high for this business and follows July's low one, so treat the two months as a pair until the August costs are confirmed complete.
| As recordedMatched | Target or budget | July forecast | |
|---|---|---|---|
| Revenue | £146,747£159,468 | £193,182 | |
| Cost of sales | (£82,399) | ||
| Gross profit | £64,347£77,069 | £47,500 | £70,790 |
| Gross margin | 43.8%48.3% | 36.6% | |
| Trading overheads | (£22,136) | (£28,592) | |
| Operating result | £42,212£54,933 | ||
| Other income | £0 | ||
| Dividends and Leodis Group fee | (£13,153) | ||
| Bottom line | £29,059£41,781 |
Tetley Hall Block E and Meadow Croft, Thorner are forecast at or above the margin they were priced at, and 6 Staveley Road below it. Meadow Croft, Thorner has no August report yet, so its figures are from July 2026.
| Project | Forecast margin | Complete | Gross profit a day |
|---|---|---|---|
| Tetley Hall Block Epriced at 25.9% · August 2026 report | 34.2% | 80.0% | £319 |
| 6 Staveley Roadpriced at 33.7% · August 2026 report | 29.6% | 51.3% | £317 |
| Meadow Croft, Thornerpriced at 28.9% · July 2026 report | 30.3% | 44.7% | £230 |
| Month | Revenue | Gross profit | Margin | Against target | Trading overheads | Operating result | Other income | Dividends and group fee | Bottom line |
|---|---|---|---|---|---|---|---|---|---|
| January 2026 | £134,966£143,852 | £37,349£46,235 | 27.7%32.1% | (£10,151)(£1,265) | (£40,063) | (£2,714)£6,172 | (£13,153) | (£15,866)(£6,980) | |
| February 2026 | £132,745£150,900 | £63,799£81,954 | 48.1%54.3% | +£16,299+£34,454 | (£37,908) | £25,890£44,046 | (£13,153) | £12,738£30,893 | |
| March 2026 | £121,137£144,470 | £35,325£58,658 | 29.2%40.6% | (£12,175)+£11,158 | (£37,715) | (£2,390)£20,944 | £1,014 | (£13,153) | (£14,528)£8,805 |
| April 2026 | £131,979£137,221 | £8,359£13,601 | 6.3%9.9% | (£39,141)(£33,899) | (£29,456) | (£21,097)(£15,855) | (£13,153) | (£34,249)(£29,007) | |
| May 2026 | £146,421£154,731 | £46,930£55,240 | 32.1%35.7% | (£570)+£7,740 | (£33,322) | £13,607£21,918 | (£13,153) | £455£8,765 | |
| June 2026 | £173,298£185,828 | £38,081£50,611 | 22.0%27.2% | (£9,419)+£3,111 | (£27,317) | £10,764£23,294 | £685 | (£13,153) | (£1,703)£10,826 |
| July 2026 | £152,827£162,544 | £6,204£15,921 | 4.1%9.8% | (£41,296)(£31,579) | (£35,083) | (£28,879)(£19,162) | (£13,153) | (£42,031)(£32,314) | |
| August 2026 | £146,747£159,468 | £64,347£77,069 | 43.8%48.3% | +£16,847+£29,569 | (£22,136) | £42,212£54,933 | (£13,153) | £29,059£41,781 | |
| June to August 2026, financial year to date | £472,872£507,840 | £108,633£143,601 | 23.0%28.3% | (£33,867)+£1,101 | (£84,536) | £24,097£59,065 | £685 | (£39,458) | (£14,675)£20,293 |
| January to August 2026 | £1,140,119£1,239,014 | £300,394£399,289 | 26.3%32.2% | (£79,606)+£19,289 | (£262,999) | £37,395£136,290 | £1,699 | (£105,220) | (£66,126)£32,769 |
Trading overheads, with dividends and the Leodis Group fee shown separately, ran £262,999 across January to August 2026 against a £230,057 budget, £32,942 over. The net figure hides how much ran over: £58,970 across 21 lines, offset by £26,028 of lines under budget. General Expenses and Prosper Squared alone is £27,767, 47% of the overruns. The largest line under budget is Rent and business rates at £11,582.
Over budget, largest first
| Line | Aug actual | Aug budget | Aug over | Jan–Aug actual | Jan–Aug budget | Jan–Aug over | Share |
|---|---|---|---|---|---|---|---|
| General Expenses and Prosper SquaredProsper Squared ran £13,000 in January and £8,500 in February against a £2,000 monthly budget, and July carries £7,946, including £5,500 of engineer bonuses. From June Xero posts Prosper Squared inside General Expenses. | £2,000 | £2,000 | £0 | £43,767 | £16,000 | +£27,767 | 47% |
| Business InsuranceOver budget in 7 of 8 months. The excess is Vitality health, which the budget assumed was cancelled. | £2,180 | £2,060 | +£120 | £21,565 | £16,480 | +£5,085 | 9% |
| Vehicle FuelOver the £1,500 monthly budget in 6 of 8 months. | £2,243 | £1,500 | +£743 | £16,153 | £12,000 | +£4,153 | 7% |
| Depreciation chargeNot budgeted, and posted for January to May 2026 only, so the later months carry none yet and look lighter than they are. | £0 | none | £0 | £3,769 | none | +£3,769 | 6% |
| Office SuppliesAugust alone was £1,125 against a £100 budget; the bill behind it is still to be confirmed. | £1,125 | £100 | +£1,025 | £4,445 | £800 | +£3,645 | 6% |
| Accountancy FeesJune carried £1,748, which includes the year end accounts. | £498 | £500 | (£2) | £6,118 | £4,000 | +£2,118 | 4% |
| Digital MarketingHigher by design; the directors have agreed the extra spend. | £0 | £245 | (£245) | £3,694 | £1,960 | +£1,734 | 3% |
| Digital SystemsOver budget in 4 of 8 months; the largest was March at £2,206. | £764 | £1,100 | (£336) | £10,501 | £8,800 | +£1,701 | 3% |
| Vehicle RepairsOver budget in 4 of 8 months; the largest was May at £2,542. | £92 | £550 | (£458) | £5,835 | £4,400 | +£1,435 | 2% |
| Training CostsOver budget in 2 of 8 months; the largest was August at £1,158. | £1,158 | £100 | +£1,058 | £1,958 | £800 | +£1,158 | 2% |
| Postage and CarriageOver budget in 6 of 8 months; the largest was July at £880. | £277 | £125 | +£152 | £2,102 | £1,000 | +£1,102 | 2% |
| TravelOver budget in 6 of 8 months; the largest was April at £1,262. | £213 | £500 | (£287) | £5,020 | £4,000 | +£1,020 | 2% |
| SubsistenceOver budget in 6 of 8 months; the largest was April at £451. | £105 | £150 | (£45) | £2,031 | £1,200 | +£831 | 1% |
| UniformOver budget in 2 of 8 months; the largest was March at £2,029. | £8 | £300 | (£292) | £3,199 | £2,400 | +£799 | 1% |
| Vehicle InsuranceOver budget in 4 of 8 months; the largest was July at £1,911. | £1,911 | £1,505 | +£406 | £12,826 | £12,040 | +£786 | 1% |
| ParkingOver budget in 4 of 8 months; the largest was January at £513. | £16 | £158 | (£141) | £1,855 | £1,260 | +£595 | 1% |
| Tools & EquipmentOver budget in 5 of 8 months; the largest was July at £929. | £318 | £335 | (£17) | £3,257 | £2,680 | +£577 | 1% |
| DonationsNot budgeted. The largest month was February at £300. | £0 | none | £0 | £456 | none | +£456 | 1% |
| Equipment RepairsOver budget in 3 of 8 months; the largest was June at £563. | £50 | £150 | (£100) | £1,336 | £1,200 | +£136 | 0% |
| CoffeeNot budgeted. The largest month was February at £46. | £0 | none | £0 | £94 | none | +£94 | 0% |
| Bank ChargesOver budget in 6 of 8 months; the largest was January at £75. | £66 | £67 | (£1) | £547 | £536 | +£11 | 0% |
Under budget
| Line | Jan–Aug actual | Budget | Under |
|---|---|---|---|
| Rent and business ratesAugust carries a £2,021 rent credit. The business rates budget has no account of its own in Xero, so it shows as a saving whether the rates are paid inside rent or not. | £13,314 | £24,896 | (£11,582) |
| Vehicle HireUnder budget in 7 of 8 months. | £16,787 | £22,640 | (£5,853) |
| Drinks & Entertaining ClientsUnder budget in 5 of 8 months. | £6,052 | £8,400 | (£2,348) |
| Office PayrollBudgeted at £3,052.03 a month, the one office salary with its employer costs; August was £3,052.03. | £22,713 | £24,416 | (£1,703) |
| Other Interest ChargesUnder budget in 1 of 8 months. | (£1,490) | £0 | (£1,490) |
| AccreditationsUnder budget in 1 of 8 months. | £1,075 | £1,844 | (£769) |
| 8 other lines | £54,022 | £56,304 | (£2,282) |
Below the operating result
The figures for June and July now come straight from Xero, and they differ from the reports the directors were given. Each month is walked below from the gross profit it reported to the figure today. The bottom line is not compared, because those reports deducted a modelled finance charge of £10,760 a month where this report deducts dividends and the Leodis Group fee.
June 2026
Revenue is £1,830 higher than reported and gross profit barely moves, ending at £38,081. CIS Labour Expense is £2,011 higher, CIS Materials Purchased is £1,857 higher and £1,830 of GHC labour recharges, which the issued report took out, are now left in. The movements largely cancel out.
| Gross profit | |
|---|---|
| In the issued report | £38,088 |
| Adjusted in the issued report itself | +£5 |
| CIS Labour Expense cost | (£2,011) |
| CIS Materials Purchased cost | (£1,857) |
| Miscellaneous Income income | +£1,830 |
| DRC subcontractors cost | +£1,411 |
| Parts Purchased cost | +£616 |
| Now, from Xero | £38,081 |
July 2026
Revenue is £3,116 lower than reported and gross profit falls by £28,854 to £6,204. Parts Purchased is £22,359 higher, MEP Project Income is £4,121 lower and Standard subcontractors is £2,785 higher. The parts are most of the fall.
| Gross profit | |
|---|---|
| In the issued report | £35,058 |
| Adjusted in the issued report itself | (£630) |
| Parts Purchased cost | (£22,359) |
| MEP Project Income income | (£4,121) |
| Standard subcontractors cost | (£2,785) |
| Miscellaneous Income income | +£1,005 |
| CIS Materials Purchased cost | +£428 |
| Equipment Hire cost | (£391) |
| Now, from Xero | £6,204 |
The figures above point to these decisions. Owners and dates are for the meeting to agree.
| Decision | Amount | Owner | By |
|---|---|---|---|
| Prosper SquaredAgree what Prosper Squared costs each month, budget any engineer bonuses openly, and move it back to its own account so it stops disappearing into General Expenses. | £27,767 | To agree | To agree |
| Vitality healthKeep or cancel. It is the reason business insurance runs over budget. | £5,085 | To agree | To agree |
| Intercompany rechargesSettle one treatment for the GHC and WarmFloors labour recharges, which the June and July reports handled differently, and confirm every day booked to their jobs has been invoiced. | To agree | To agree | |
| Staveley days still to doConfirm the 252 days still to do cover the scope the advance paid for; the sum held back moves with them. | £64,438 | To agree | To agree |
Figures are Xero actuals for January to August 2026. Two changes are made to them. The BUS grants Leodis received and passed on to WarmFloors are stripped out, which moves income and overheads but not profit. June 2026 carried a second dividend that belongs to another month and is already counted there, so it is taken out. The Staveley release is shown alongside the recorded figures and never replaces them. Depreciation is posted for January to May 2026 only.