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Registered number: 04814422










C3 CONSTRUCTION LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
C3 CONSTRUCTION LIMITED
 
 
COMPANY INFORMATION


Directors
C Haldane 
J Denham 
C McCathie 
M Adams 
M Weatherley 
S Adams 
M Proudlove 




Registered number
04814422



Registered office
11 Merus Court
Meridian Business Park

Leicester

LE19 1RJ




Independent auditors
MHA

Chartered Accountants & Statutory Auditors

11 Merus Court

Meridian Business Park

Leicester

LE19 1RJ





 
C3 CONSTRUCTION LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 3
Directors' Report
 
4 - 8
Independent Auditors' Report
 
9 - 12
Statement of Comprehensive Income
 
13
Balance Sheet
 
14 - 15
Statement of Changes in Equity
 
16
Notes to the Financial Statements
 
17 - 33


 
C3 CONSTRUCTION LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Introduction
 
The principal activity of the Company during the year was that of groundwork, general building and site engineering.
Business review
Over the last 12 months the business has continued to expand despite a more challenging housing market, and is active on over 60 sites across the Midlands. This has been achieved by working for a growing number of housebuilders and establishing a reputation for quality and reliability. As the business is focused on site infrastructure work as well as groundworks, this provides a balance to housing which can slow down if market conditions dictate.
The directors remain focused on cost control and growing market share. There has been considerable investment in plant and machinery to ensure the company is using the best equipment and technology available. The company continues to develop and invest in its people and their training.
Whilst the outlook for 2024 still has a number of macroeconomic challenges, the directors are confident in C3’s position as a leading groundworker and that the company’s reputation will lead to a strong pipeline of opportunities in a market which still suffers from a lack of sufficient housing.
Principal risks and uncertainties
The management of the business and the execution of the Company's strategy are subject to a number of risks. Risks are formally reviewed by the board and appropriate processes are put in place to monitor and mitigate them.
Credit risk 
New credit customers undergo credit checks and are only accepted once approved by the credit controller. The Company undertakes perpetual review processes to ensure debts are collected in a timely manner and to minimise the risk that debts become irrecoverable. 
Liquidity risk 
The Company is financed by appropriate long and short term finance to match the needs of the business.
Financial key performance indicators
The key performance indicators of the Company are turnover, gross profit margin and net profit margin.
During the year turnover has increased by £23,798,096 (20.9%) to £137,870,459 compared to £114,072,363 in 2022.
During the year gross profit margin has increased by £714,916 (3.4%) to £21,999,008 compared to £21,284,092 in 2022.
During the year profit before tax has decreased by £2,693,776 (28.9%) to £6,625,444 compared to £9,319,220 in 2022.

Other key performance indicators
 
The non-financial key performance indicator of the Company is compliance with UK health and safety regulations including UK building regulations. The Company had no instances of non compliance during the period.

Page 1

 
C3 CONSTRUCTION LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Directors' statement of compliance with duty to promote the success of the Company
 
S172 (1) Statement
During the year, the directors have had regard to the matters set out in S172 (1) (a) to (f) of the Companies Act 2006 whilst performing their duties. Decisions have been made in good faith to benefit the members as a whole and to promote the success of the Company.
Specifically, the directors have considered the following:
S172 (1) (a) The likely consequences of any decision in the long term
The directors understand the business and the environment in which it operates and the consequences of any long term decisions. There is a clear plan for growth which ensures they deliver a reputable service  whilst satisfying both customer and shareholder needs. Improving environmental performance and operating processes are a fundamental part of the business strategy. This is key to ensuring that the Company delivers a duty of care for the benefit of future generations.
S172 (1) (b) The interests of the Company's employees
The directors regularly engage with employees through internal communications when making decisions to ensure that the best course of action is delivered in the long term and that the Company's strategy takes into consideration all stakeholders of the Company, including the employees. Employee welfare and wellbeing is of utmost importance. Within the industry that the Company operates, ensuring that all employees work in a safe and healthy environment is paramount. This is ensured through regular external health and safety compliance checks. 
S172 (1) (c) The need to foster the Company's business relationships with suppliers, customers and others
Building relationships with customers and suppliers is critical to the success of the business. Building relationships with key suppliers enables the success of the Company by delivering a quality service whilst ensuring minimal impact to the environment. 
S172 (1) (d) The impact of the Company's operations on the community and the environment
The Company recognises the importance of minimising the impact of operations on the community and the environment and takes into consideration the views of all stakeholders.
S172 (1) (e) The desirability of the Company maintaining a reputation for high standards of business conduct
The Company acknowledges that sustainable growth is only achievable by maintaining a reputation quality and adhering to the codes of good business practice. 
S172 (1) (f) The need to act fairly between members of the Group
When making decisions, the directors consider which course of action best delivers the Group strategy in the long term, taking into consideration all stakeholders of the Group.

Page 2

 
C3 CONSTRUCTION LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023


This report was approved by the board and signed on its behalf.



................................................
J Denham
Director

Date: 4 April 2024

Page 3

 
C3 CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

The directors present their report and the financial statements for the year ended 30 September 2023.

Results and dividends

The profit for the year, after taxation, amounted to £5,154,917 (2022 - £7,613,767).

During the year a dividend of £1,911,538 (2022 - £4,797,553) was recommended by the directors.

Directors

The directors who served during the year were:

C Haldane 
J Denham 
C McCathie 
M Adams 
M Weatherley 
S Adams 
M Proudlove 

Page 4

 
C3 CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Environmental matters

The Company will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Company has complied with all applicable legislation and regulations.
The Companies Act 2006 (Directors' Report) Regulation 2018 requires C3 Construction Limited to disclose annual UK energy consumption, emissions, intensity metrics and all energy efficiency improvements implemented for the financial period. The following disclosures achieve 100% verifiable data coverage with no estimation. Energy and Greenhouse Gas emissions have been independently calculated by Net Zero Compliance (a division of Inspired Energy PLC).
This report (including the Scope 1, 2 and 3 consumption and CO2e emissions data) has been developed and calculated using the GHG Protocol – A Corporate Accounting and Reporting Standard (World Resources Institute and World Business Council for Sustainable Development, 2004); Greenhouse Gas Protocol – Scope 2 Guidance (World Resources Institute, 2015); ISO 14064-1 and ISO 14064-2 (ISO, 2018; ISO, 2019); Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance (HM Government, 2019). 
Government Emissions Factor Database 2023 version 1.1 has been used, utilising the published kWh gross calorific value (CV) and kgCO2e emissions factors relevant for the reporting period 01/10/2022 – 30/09/2023. 
Estimations were undertaken to cover missing billing periods for properties directly invoiced to C3 Construction Limited. These were calculated on a kWh/day pro-rata basis at the meter level. 
All estimations equated to 8.15% of reported consumption. Market-based emissions were calculated using a supplier-specific emissions factor based on the electricity that C3 Construction Limited procure. 
Due to continuing improvements in reporting, the emissions related to transportation in 2021/22 have been restated this year. This is in line with improvements in reporting methodology which aim to provide a more accurate representation of the emissions produced.
Consumption (kWh) and Greenhouse Gas emissions (tCO2e) totals
The following figures show the consumption and associated emissions for this reporting year for our operations, with figures from the previous reporting period included for comparison.
Scope 1 consumption and emissions relate to direct combustion of natural gas, and fuels utilised for transportation operations, such as company vehicle fleets.
Scope 2 consumption and emissions relate to indirect emissions relating to the consumption of purchased electricity in day-to-day business operations.
Scope 3 consumption and emissions relate to emissions resulting from sources not directly owned by us. This relates to grey fleet (business travel undertaken in employee-owned vehicles) only.
Totals
The total consumption (kWh) figures for energy supplies reportable by C3 Construction Limited are as follows:
Grid supplied Electricity (scope 2) - 108,100 kWh (2022 - 98,105 kWh)
Gaseous and other fuels (scope 1) - 48,597,592 kWh (2022 - 36,590,560 kWh)
Transportation (scope 1) - 9,692,757 kWh (2022 - 8,371,080 kWh)
Transportation (scope 3) - 102,805 kWh (2022 - 102,168 kWh)
Total - 58,501,254 kWh (2022 - 45,161,913 kWh)
 
Page 5

 
C3 CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

The total emission (tCO2e) figures for energy supplies reportable by C3 Construction Limited are as follows:
Grid-supplied Electricity (Scope 2) - 22.38 tCO2e (2022 - 18.97 tCO2e)
Gaseous and other fuels (Scope 1) - 12,465.07 tCO2e (2022 - 9,396.09 tCO2e)
Transportation (Scope 1) - 2,291.16 tCO2e (2022 - 2,001.23 tCO2e)
Transportation (Scope 3) - 23.12 tCO2e (2022 - 23.57 tCO2e)
Total - 14,801.74 tCO2e (2022 - 11,439.96 tCO2e)
Intensity metric
An intensity metric of tCO2e per £m revenue has been applied for our annual total emissions and are as follows:
tCO2e / £m revenue - 107.36 (2022 - 100.29)
Energy Efficiency Improvements
C3 Construction Limited is committed to year-on-year improvements in its operational energy efficiency. A register of energy efficiency measures has been compiled, with a view to implementing these measures in the next five years.
Measures ongoing and undertaken through FY2022/23:
GPS Technology in Excavators 
In the past two years, C3 Construction have invested in several GPS Technologies for use in excavators. This has resulted in a considerable reduction in travel to sites by the engineering team.
Fuel Efficient Investment
In FY2022/23, C3 Construction invested considerably in new plant to benefit from fuel-efficient models when they become available to the market. This should impact emissions positively in future reporting years.
Reducing Idling Time
C3 Construction have committed to reducing idling time in vans and excavators to reduce fuel consumption.
Reporting Methodology
Scope 1, 2 and 3 consumption and CO2e emissions data has been calculated in line with the 2019 UK Government environmental reporting guidance. Emissions Factor Database 2023 version 1 has been used, utilising the published kWh gross calorific value (CV) and kgCO2e emissions factors relevant for reporting period 01/10/2022 – 30/09/2023.

Future developments

Going forward the directors are aiming to grow the Company further whilst keeping tight control over the cost base.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware; and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 6

 
C3 CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

Following a rebranding exercise on 15 May 2023 the trading name of the Company’s independent auditor changed from MHA MacIntyre Hudson to MHA. The auditors, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 7

 
C3 CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

This report was approved by the board and signed on its behalf.
 





................................................
J Denham
Director

Date: 4 April 2024

11 Merus Court
Meridian Business Park
Leicester
LE19 1RJ

Page 8

 
C3 CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C3 CONSTRUCTION LIMITED
 

Opinion


We have audited the financial statements of C3 Construction Limited (the 'Company') for the year ended 30 September 2023, which comprise the Statement of Comprehensive Income, the Balance sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 September 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 9

 
C3 CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C3 CONSTRUCTION LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 7, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 10

 
C3 CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C3 CONSTRUCTION LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•  Enquiry of management and those charged with governance around actual, potential or suspected               litigation, claims, non-compliance with applicable laws and regulations and fraud.
•  Enquiry of entity staff in tax and compliance functions and external advisors to identify any instances of        non-compliance with laws and regulations.
•  Performing audit work over the risk of management override, including testing of journal entries and other    adjustments for appropriateness, evaluating the business rationale of significant transactions outside the      normal course of business and reviewing accounting estimates for bias.
•  Reviewing of financial statements disclosures and testing to supporting documentation to assess                 compliance with applicable laws and regulations.
•  Discussions amongst the engagement team in relation to how and where fraud might occur in the financial  statements and any potential indicators of fraud.
•  Reviewing meeting minutes of those charged with governance.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 11

 
C3 CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C3 CONSTRUCTION LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.



Shelley Harvey FCCA (Senior Statutory Auditor)
for and on behalf of MHA, Statutory Auditor,
Leicester, United Kingdom

Date: 
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales registered number OC312313).





  
 

4 April 2024
Page 12

 
C3 CONSTRUCTION LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
137,870,459
114,072,363

Cost of sales
  
(115,871,451)
(92,788,271)

Gross profit
  
21,999,008
21,284,092

Administrative expenses
  
(14,936,875)
(11,929,922)

Other operating income
 5 
154,950
165,755

Operating profit
 6 
7,217,083
9,519,925

Interest payable and similar expenses
 10 
(591,639)
(200,705)

Profit before tax
  
6,625,444
9,319,220

Tax on profit
 11 
(1,470,527)
(1,705,453)

Profit for the financial year
  
5,154,917
7,613,767

There were no recognised gains and losses for 2023 or 2022 other than those included in the Statement of Comprehensive Income.

There was no other comprehensive income for 2023 (2022 - £nil).

The notes on pages 17 to 33 form part of these financial statements.

Page 13

 
C3 CONSTRUCTION LIMITED
REGISTERED NUMBER: 04814422

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 13 
18,372,109
13,444,245

  
18,372,109
13,444,245

Current assets
  

Stocks
 14 
4,570,473
3,500,550

Debtors: amounts falling due within one year
 15 
36,053,469
32,797,576

Cash at bank and in hand
 16 
2,784,915
5,008,286

Current liabilities
  
43,408,857
41,306,412

Creditors: amounts falling due within one year
 17 
(30,700,015)
(28,459,352)

Net current assets
  
 
 
12,708,842
 
 
12,847,060

Total assets less current liabilities
  
31,080,951
26,291,305

Creditors: amounts falling due after more than one year
 18 
(6,688,514)
(6,450,785)

Provisions for liabilities
  

Deferred tax
 21 
(4,182,287)
(2,873,749)

  
 
 
(4,182,287)
 
 
(2,873,749)

Net assets
  
20,210,150
16,966,771


Capital and reserves
  

Called up share capital 
 22 
145
145

Share premium account
  
23,034
23,034

Capital redemption reserve
  
9
9

Profit and loss account
  
20,186,962
16,943,583

  
20,210,150
16,966,771


Page 14

 
C3 CONSTRUCTION LIMITED
REGISTERED NUMBER: 04814422
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J Denham
Director

Date: 4 April 2024

The notes on pages 17 to 33 form part of these financial statements.

Page 15

 
C3 CONSTRUCTION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2021
150
23,034
4
14,127,369
14,150,557


Comprehensive income for the year

Profit for the year
-
-
-
7,613,767
7,613,767

Dividends: Equity capital
-
-
-
(4,797,553)
(4,797,553)

Purchase of own shares
-
-
5
-
5

Cancellation of shares
(5)
-
-
-
(5)



At 1 October 2022
145
23,034
9
16,943,583
16,966,771


Comprehensive income for the year

Profit for the year
-
-
-
5,154,917
5,154,917

Dividends: Equity capital
-
-
-
(1,911,538)
(1,911,538)


At 30 September 2023
145
23,034
9
20,186,962
20,210,150


The notes on pages 17 to 33 form part of these financial statements.

Share premium account
Includes the premium attached to the new shares issued in prior periods.
Capital redemption reserve
The statutory, non-distributable reserve into which amounts were transferred following the redemption of the Company's own shares.
Profit and loss account
Includes all current and prior period retained profits and losses. All amounts are distributable

Page 16

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

C3 Construction Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04814422. The registered office is 11 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
The principal activity of the Company during the year continued to be that of groundwork, general building and site engineering.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

After reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial information. The directors therefore believe the Company has the ability to continue as a going concern for the next 12 months.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgemental in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; and
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of C3 Construction Group Limited as at 30 September 2023 and these financial statements may be obtained from  the registered office of the parent company at 11 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.

Page 17

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to Statement of Comprehensive Income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Finance costs

Finance costs are charged to Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in Statement of Comprehensive Income in the year in which they are incurred.

Page 18

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Statement of Comprehensive Income during the period in which they are incurred.

Page 19

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and the reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% straight line per annum
Motor vehicles
-
20% reducing balance per annum
Fixtures and fittings
-
33.3% straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in Statement of Comprehensive Income.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Statement of Comprehensive Income.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 20

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to Statement of Comprehensive Income.

  
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction cost, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 21

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
(
ii) Stock and work in progress provisioning
The Company continues to provide groundworking, general building and site engineering services and is exposed to changes in the market prices of raw materials it uses. As a result it is necessary to consider the recoverability of the cost of stocks and the associated provisioning required. When calculating the stocks provision, management considers the nature and condition of the stocks, as well as applying assumptions around anticipated sales and future usage of raw materials. With regards to work in progress valuations, management will consider materials usage and labour costs incurred on projects currently in progress.
(iii) Impairment of debtors
The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Page 22

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Groundwork, general building and site engineering
137,870,459
114,072,363

137,870,459
114,072,363


All turnover arose within the United Kingdom.


5.


Other operating income

2023
2022
£
£

Vehicle leasing recharges
4,820
3,400

CITB training
150,130
162,355

154,950
165,755



6.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of tangible fixed assets - owned assets
464,590
287,153

Depreciation of tangible fixed assets - financed assets
1,974,386
1,300,517

Operating lease rentals
317,850
384,818

Loss on sale of fixed assets
130,474
85,030

Page 23

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors and their associates:


2023
2022
£
£

Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements
26,000
18,000

Fees payable to the Company's auditors and their associates in respect of:

Taxation compliance services
3,500
3,000

All non-audit services not included above
52,792
92,925


8.


Employees

Staff costs, including directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
6,303,227
5,558,166

Social security costs
620,879
415,920

Cost of defined contribution scheme
100,266
72,213

7,024,372
6,046,299


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Production staff
28
29



Administrative staff
76
69



Management staff
7
7

111
105

Page 24

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
120,816
157,460

120,816
157,460


During the year retirement benefits were accruing to 7 directors (2022 - 7) in respect of defined contribution pension schemes.


10.


Interest payable and similar expenses

2023
2022
£
£


Other loan interest payable
161,490
35,496

Finance leases and hire purchase contracts
430,149
165,209

591,639
200,705


11.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
77,623
256,812

Adjustments in respect of previous periods
84,366
(92,717)


Total current tax
161,989
164,095

Deferred tax


Origination and reversal of timing differences
1,308,538
1,541,358

Total deferred tax
1,308,538
1,541,358


Tax on profit
1,470,527
1,705,453
Page 25

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - lower than) the effective rate of corporation tax in the UK of 22% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
6,625,444
9,319,220


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 22% (2022 - 19%)
1,457,598
1,770,652

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
13,947
59,792

Depreciation in excess of capital allowances.
(86,312)
(50,571)

Loss on disposal
-
16,156

Adjustments to tax charge in respect of prior periods
84,366
(92,717)

Other timing differences leading to an increase in taxation
928
2,141

Total tax charge for the year
1,470,527
1,705,453


Factors that may affect future tax charges

From 1 April 2023, the Corporation Tax main rate increased to 25% for profits over £250,000. A small profits rate has also been introduced for profits of £50,000 or less, charging Corporation Tax at 19%. Profits between £50,000 and £250,000 will be taxed at the main rate reduced by a marginal relief providing a gradual increase in the effective Corporation Tax rate.


12.


Dividends

2023
2022
£
£


Dividends declared
1,911,538
4,797,553

1,911,538
4,797,553

Page 26

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

13.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2022
12,318,400
5,338,882
453,832
18,111,114


Additions
6,437,805
1,791,545
60,527
8,289,877


Disposals
(1,620,767)
(325,677)
-
(1,946,444)



At 30 September 2023

17,135,438
6,804,750
514,359
24,454,547



Depreciation


At 1 October 2022
2,709,031
1,583,941
373,897
4,666,869


Charge for the year on owned assets
1,186,148
741,577
46,661
1,974,386


Charge for the year on financed assets
289,178
175,412
-
464,590


Disposals
(841,626)
(181,781)
-
(1,023,407)



At 30 September 2023

3,342,731
2,319,149
420,558
6,082,438



Net book value



At 30 September 2023
13,792,707
4,485,601
93,801
18,372,109



At 30 September 2022
9,609,369
3,754,941
79,935
13,444,245

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
10,759,059
8,749,352

Motor vehicles
3,996,605
3,433,456

14,755,664
12,182,808

Page 27

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

14.


Stocks

2023
2022
£
£

Raw materials and consumables
3,246,247
2,827,123

Work in progress
1,324,226
673,427

4,570,473
3,500,550



15.


Debtors

2023
2022
£
£


Trade debtors
24,850,734
23,754,417

Amounts owed by associated undertakings
8,289,624
6,967,624

Other debtors
1,878,397
1,750,692

Prepayments and accrued income
1,034,714
324,843

36,053,469
32,797,576



16.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,784,915
5,008,286

Less: bank overdrafts
(1,833,052)
(2,266,657)

951,863
2,741,629


Page 28

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

17.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1,833,052
2,266,657

Bank loans
1,458,333
833,328

Trade creditors
20,815,349
18,435,888

Corporation tax
55,783
114,095

Other taxation and social security
163,341
175,205

Obligations under finance lease and hire purchase contracts
4,095,337
3,083,611

Other creditors
13,998
90,688

Accruals and deferred income
2,264,822
3,459,880

30,700,015
28,459,352


Arbuthnot Commercial Asset Based Lending Limited hold a fixed and floating charge dated 11 July 2022 over all the property or undertakings of the Company.
Lloyds Bank Plc hold a debenture dated 23 August 2016 over all of the property and assets of the Company.
Net obligations under hire purchase contracts amounting to £4,095,337 (2022 - £3,083,611) are secured by the Company against the assets to which they relate.


18.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
1,458,339

Obligations under finance leases and hire purchase contracts
6,688,514
4,992,446

6,688,514
6,450,785


Arbuthnot Commercial Asset Based Lending Limited hold a fixed and floating charge dated 11 July 2022 over all the property or undertakings of the Company.
Lloyds Bank Plc hold a debenture dated 23 August 2016 over all of the property and assets of the Company.
Net obligations under hire purchase contracts amounting to £6,688,514 (2022 - £4,992,446) are secured by the Company against the assets to which they relate.

Page 29

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

19.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
1,458,333
833,328


1,458,333
833,328

Amounts falling due 1-2 years

Bank loans
-
833,328


-
833,328

Amounts falling due 2-5 years

Bank loans
-
625,011


-
625,011


1,458,333
2,291,667



20.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
4,095,337
3,083,611

Between 1-5 years
6,688,514
4,386,394

Over 5 years
-
570,556

10,783,851
8,040,561

Page 30

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

21.


Deferred taxation




2023
2022


£

£






At beginning of year
2,873,749
1,332,391


Charged to the Statement of Comprehensive Income
1,308,538
1,541,358



At end of year
4,182,287
2,873,749

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
4,182,287
2,873,749

4,182,287
2,873,749


22.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



14,500 (2022 - 14,500) Ordinary A shares of £0.01 each
145
145


Page 31

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

23.


Commitments under operating leases

At 30 September 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£

Land and building


Not later than 1 year
105,000
105,000

Later than 1 year and not later than 5 years
420,000
420,000

Later than 5 years
78,750
157,500

603,750
682,500

2023
2022

£
£

Other


Not later than 1 year
200,912
177,750

Later than 1 year and not later than 5 years
129,499
147,035

Later than 5 years
54,349
-

384,760
324,785


24.


Transactions with directors

The Company has agreed to act as guarantor for £4,145,150 (2022 - £5,545,150) fixed loan notes created by C3 Construction Group Limited and owed to J Denham, M Johnson and D Humberstone. The charge, registered on 22 March 2018, is secured against all of the property and assets of the Company.
The directors had interest free loans during the year that are repayable on demand.


25.


Related party transactions

During the year amounts totalling £1,322,000 (2022 - £364,850) were advanced to associated undertakings of the Company. At the year end £8,289,624 (2022 - £6,967,624) was due to the Company in respect of these advances.
Total key management personnel remuneration for the year was £142,510 (2022 - £157,460).
No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102, section 1AC.35.

Page 32

 
C3 CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

26.


Controlling party

The immediate parent company is C3 Construction Holdings Limited. C3 Construction Holdings Limited is registered in England and Wales and the registered office is 11 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
The parent company preparing consolidated accounts for the smallest and largest group of which the Company is a member is C3 Construction Group Limited. Group accounts can be obtained from 11 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
The directors do not consider there to be an ultimate controlling party in the year.

 
Page 33