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REGISTERED NUMBER: 04264510 (England and Wales)















Randalls Civils Limited

Financial Statements

for the Year Ended 31 March 2023






Randalls Civils Limited (Registered number: 04264510)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Randalls Civils Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Randall
C W Davies
H L John
D Machajewski





SECRETARY: M Sheppard





REGISTERED OFFICE: Unit 2 Cwmdraw Industrial Estate
Newtown
Ebbw Vale
NP23 5AE





REGISTERED NUMBER: 04264510 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Chartered Accountants
& Statutory Auditors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Randalls Civils Limited (Registered number: 04264510)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 319,344 393,915
Debtors 5 2,730,725 2,250,133
Cash at bank 1,499,269 1,477,853
4,549,338 4,121,901
CREDITORS
Amounts falling due within one year 6 3,203,110 3,346,090
NET CURRENT ASSETS 1,346,228 775,811
TOTAL ASSETS LESS CURRENT LIABILITIES 1,346,228 775,811

PROVISIONS FOR LIABILITIES 766,051 341,871
NET ASSETS 580,177 433,940

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 580,077 433,840
580,177 433,940

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 17 August 2023 and were signed on its behalf by:





M Randall - Director


Randalls Civils Limited (Registered number: 04264510)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Randalls Civils 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 (£).


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 of the company are consolidated in the financial statements of Randalls Holdings Limited. These consolidated financial statements are available from its registered office, Unit 2 Cwmdraw Industrial Estate, Newtown, Ebbw Vale, Wales, NP23 5AE.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The application of the company's accounting policies, the management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

The asset has been fully depreciated.

Inventories
Inventories are valued at the lower of cost and net reliasable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


Randalls Civils Limited (Registered number: 04264510)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.

The 'percentage of completion method' is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature and it is probable they will be recovered.

Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

Provisions and contingencies
i) Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations might be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

ii) Contingencies
Contingent liabilities are not recognised, except those acquired in a business combination. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company's control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Randalls Civils Limited (Registered number: 04264510)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 120,000
DEPRECIATION
At 1 April 2022
and 31 March 2023 120,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,873,599 2,111,020
Amounts owed by group undertakings 55,250 -
Other debtors 801,876 139,113
2,730,725 2,250,133

Included in trade debtors is a balance of £716,670 (2022: £621,044) which is in respect of retention monies owed on contracts, some of which is recoverable after more than one year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 838,185 892,336
Amounts owed to group undertakings 483,484 745,210
Taxation and social security 128,015 -
Other creditors 1,753,426 1,708,544
3,203,110 3,346,090

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

The Report of the Auditors was unqualified.

Lewis Van Emden (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

8. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

A company unlimited multilateral guarantee has been given by Randalls (Holdings) Limited, Randalls (Groundworks) Limited, Randalls Civils Limited, Randalls Properties Limited, Randalls Resource Limited and RGW Plant Limited to guarantee liabilities to Barclays Bank plc.

Barclays Bank plc hold a debenture including a fixed and floating charges over all assets and undertaking both present and future.

.

Randalls Civils Limited (Registered number: 04264510)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Randall.

The company's ultimate parent undertaking at the balance sheet date is Randalls Holdings Limited, a company incorporated in England and Wales.