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Registered number: 08148515









CONISTON DARTFORD LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
CONISTON DARTFORD LIMITED
 
 
COMPANY INFORMATION


Directors
A G Wildgoose 
S L Clarke 
J P Rathbone 




Company secretary
A G Wildgoose



Registered number
08148515



Registered office
Collingwood House
Schooner Court

Crossways

Dartford

Kent

DA2 6QQ




Independent auditors
Barnes Roffe LLP
Chartered Accountants & Registered Auditors

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA





 
CONISTON DARTFORD LIMITED
 

CONTENTS



Page
Group strategic report
 
1 - 2
Directors' report
 
3 - 4
Independent auditors' report
 
5 - 8
Consolidated statement of comprehensive income
 
9
Consolidated balance sheet
 
10
Company balance sheet
 
11
Consolidated statement of changes in equity
 
12 - 13
Company statement of changes in equity
 
14
Consolidated statement of cash flows
 
15 - 16
Notes to the financial statements
 
17 - 37


 
CONISTON DARTFORD LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023

Introduction
 
The directors present their strategic report accompanying the financial statements for the year ended 30 November 2023.

Business review
 
We have listed the performance of the group companies below:
• Coniston Limited’s profit before tax for the year is £108k and its net assets stand at £818k;
• Apollo Building Services Limited’s profit before tax for the year is £1.45m and its net assets stand at        
          £2.4m;
• Datum Design and Build Limited’s profit before tax for the year is £64k and its net assets stand at £302k;
• Momentum Building Services Engineering Limited’s profit before tax for the year is £262k and its net    liabilities stand at £59k;
• Parkserve Solutions Limited’s profit before tax for the year is £190k and its net assets stand at £425k
• Linqued Limited’s profit before tax for the period is £73k and its net liabilities stand at £244k, of which    £180k are attributable to minorty interests.
During what remains a difficult time for the construction industry, the directors are encouraged by the performance of all group companies. Turnover has increased by 21% during the year, and through an increase in the quality of the contracts undertaken and a tight control on overheads, the group has more than doubled its net profit margin, representing an increase of more than 150% on the pre-tax profit for the previous period.
The group continues to expand its reach through the acquisition of a controlling interest in Linqed Ltd and through the formation of Coniston FM Ltd, a joint venture in which the group also has a controlling interest. This, together with the performance of the established companies give the directors confidence in the continued success of the group.

Principal risks and uncertainties
 
The business has identified a number of risks which are being closely monitored by the board, primarily:
Securing of Future Contracts:
Whilst there are a number of new work opportunities available for tender, it is important to ensure the opportunities are correct for the business requirements and only entered into when risks have been fully evaluated, and on agreeable terms by all. 
Escalating Costs:
Due to the uncertainty in the world environment, materials and labour are continuously subject to change. Whilst we have seen a stabilisation of these costs in recent months, this has to be closely monitored, especially in respect of fixed cost contracts and the long durations of higher value contracts. 
Sub-Contractor / Supply Chain
We continue to monitor our competitors, and wider construction organisations who have suffered financial losses and administration, which has a wider impact on the industry and supply chain.
 

Page 1

 
CONISTON DARTFORD LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023

Financial key performance indicators
 
The key performance indicators monitored by the board are turnover, gross profit and overhead costs as detailed in the group profit and loss account.
Whilst the performance of these KPI's have not met expectation this year, the board remain confident the following years will show improvements, and this will continue to be monitored.

Other key performance indicators
 
No other key performance indicators are used.


This report was approved by the board on 13 May 2024 and signed on its behalf.



A G Wildgoose
Director

Page 2

 
CONISTON DARTFORD LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023

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

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 the group and of the profit or loss of the group for that period.

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


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

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group 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 the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation and minority interests, amounted to £968,742 (2022 - loss £276,452).

Dividends of £685,597 (2022 - £528,046) were paid in the year. The directors do not recommend the payment of a final dividend (2022 - £Nil)

Directors

The directors who served during the year were:

A G Wildgoose 
S L Clarke 
J P Rathbone 

Future developments

The directors are always looking to improve the profitability of the group. They are looking to identifying niche markets that the group can add to the existing profile to enhance the services they provide to their customers.

Page 3

 
CONISTON DARTFORD LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023

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 and the group'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 and the group's auditors are aware of that information.

Post balance sheet events

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

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 13 May 2024 and signed on its behalf.
 





A G Wildgoose
Director

Page 4

 
CONISTON DARTFORD LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON DARTFORD LIMITED
 

Opinion


We have audited the financial statements of Coniston Dartford Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2023, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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 group's and of the parent company's affairs as at 30 November 2023 and of the group's 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 group 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 group's or the parent 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 5

 
CONISTON DARTFORD LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON DARTFORD 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company 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.


Page 6

 
CONISTON DARTFORD LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON DARTFORD LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.


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 Group 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the group through discussion with directors and other management, and from our commercial knowledge and experience of the construction sector which the group operates in;
• The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, are as follows;
    o Companies Act 2006
    o FRS102
    o Health and Safety legislation
    o Employment legislation
    o Tax legislation
• We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting relevant correspondence; and
• Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulations were identified. The audit team remained alert to instances of noncompliance throughout the audit;
We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
• Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
•  Reviewing the financial statements and testing the disclosures against supporting documentation;
 
Page 7

 
CONISTON DARTFORD LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON DARTFORD LIMITED (CONTINUED)


•  Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
•  Inspecting and testing journal entries to identify unusual or unexpected transactions;
• Assessing whether judgement and assumptions made in determining significant accounting estimates, including amounts recoverable on long term contracts, work in progress and the useful economic lives of tangible fixed assets, were indicative of management bias; and
• Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
The areas that we identified as being susceptible to misstatement through fraud were:
•  Management bias in the estimates and judgements made;
•  Management override of controls; and
•  Posting of unusual journals or transactions.
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.


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.




Ben Bradley (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants & Registered Auditors
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA

 
Date: 
23 May 2024
Page 8

 
CONISTON DARTFORD LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
59,612,263
49,133,597

Cost of sales
  
(52,799,161)
(44,200,431)

Gross profit
  
6,813,102
4,933,166

Administrative expenses
  
(4,639,391)
(4,116,403)

Operating profit
 5 
2,173,711
816,763

Interest receivable and similar income
 9 
21,199
1,127

Interest payable and similar expenses
 10 
(15,244)
(4,143)

Profit before taxation
  
2,179,666
813,747

Tax on profit
 11 
(548,269)
(549,513)

Profit for the financial year
  
1,631,397
264,234

Profit for the year attributable to:
  

Non-controlling interests
  
662,655
540,686

Owners of the parent company
  
968,742
(276,452)

  
1,631,397
264,234

Total comprehensive income for the year attributable to:
  

Non-controlling interest
  
662,655
540,686

Owners of the parent company
  
968,742
(276,452)

  
1,631,397
264,234

There were no recognised gains and losses for 2023 or 2022 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 17 to 37 form part of these financial statements.

Page 9

 
CONISTON DARTFORD LIMITED
REGISTERED NUMBER: 08148515

CONSOLIDATED BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 13 
138,215
-

Tangible assets
 14 
453,855
284,946

  
592,070
284,946

Current assets
  

Stocks
 16 
342,889
456,933

Debtors: amounts falling due within one year
 17 
12,877,912
12,136,581

Cash at bank and in hand
 18 
3,649,207
2,951,560

  
16,870,008
15,545,074

Creditors: amounts falling due within one year
 19 
(14,734,177)
(13,713,795)

Net current assets
  
 
 
2,135,831
 
 
1,831,279

Total assets less current liabilities
  
2,727,901
2,116,225

Creditors: amounts falling due after more than one year
 20 
(36,758)
(28,750)

Provisions for liabilities
  

Net assets
  
2,691,143
2,087,475


Capital and reserves
  

Called up share capital 
 24 
190
190

Share premium account
 25 
654,575
654,575

Capital redemption reserve
 25 
10
10

Profit and loss account
 25 
536,659
361,397

Equity attributable to owners of the parent company
  
1,191,434
1,016,172

Non-controlling interests
  
1,499,709
1,071,303

  
2,691,143
2,087,475


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 May 2024.

A G Wildgoose
Director

The notes on pages 17 to 37 form part of these financial statements.

Page 10

 
CONISTON DARTFORD LIMITED
REGISTERED NUMBER: 08148515

COMPANY BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 15 
1,957,826
1,957,826

  
1,957,826
1,957,826

Current assets
  

Debtors: amounts falling due within one year
 17 
662
662

  
662
662

Creditors: amounts falling due within one year
 19 
(1,182,977)
(1,182,977)

Net current liabilities
  
 
 
(1,182,315)
 
 
(1,182,315)

Total assets less current liabilities
  
775,511
775,511

  

  

Net assets
  
775,511
775,511


Capital and reserves
  

Called up share capital 
 24 
190
190

Share premium account
 25 
654,575
654,575

Capital redemption reserve
 25 
10
10

Profit and loss account brought forward
  
120,736
220,846

Profit for the year
  
685,597
427,936

Other changes in the profit and loss account

  

(685,597)
(528,046)

Profit and loss account carried forward
  
120,736
120,736

  
775,511
775,511


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 May 2024.


A G Wildgoose
Director

The notes on pages 17 to 37 form part of these financial statements.

Page 11

 

 
CONISTON DARTFORD LIMITED


 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023



Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Equity attributable to owners of parent company
Non-controlling interests
Total equity


£
£
£
£
£
£
£


At 1 December 2022
190
654,575
10
361,397
1,016,172
1,071,303
2,087,475



Comprehensive income for the year


Profit for the year
-
-
-
968,742
968,742
662,655
1,631,397


Re-allocation of profit and losses reserves attributable to non-controlling interests
-
-
-
(107,883)
(107,883)
107,883
-



Contributions by and distributions to owners


Dividends: Equity capital
-
-
-
(685,597)
(685,597)
(206,480)
(892,077)


Pre-acquisition net assets / (liabilities) to non-controlling interests
-
-
-
-
-
(135,652)
(135,652)



At 30 November 2023
190
654,575
10
536,659
1,191,434
1,499,709
2,691,143



The notes on pages 17 to 37 form part of these financial statements.

Page 12

 

 
CONISTON DARTFORD LIMITED


 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022



Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Equity attributable to owners of parent company
Non-controlling interests
Total equity


£
£
£
£
£
£
£


At 1 December 2021
190
654,575
10
1,230,244
1,885,019
610,268
2,495,287



Comprehensive income for the year


Profit for the year
-
-
-
(276,452)
(276,452)
540,686
264,234


Re-allocation of profit and loss reserves attributable to non-controlling interests
-
-
-
(64,349)
(64,349)
64,349
-



Contributions by and distributions to owners


Dividends: Equity capital
-
-
-
(528,046)
(528,046)
(144,000)
(672,046)



At 30 November 2022
190
654,575
10
361,397
1,016,172
1,071,303
2,087,475



The notes on pages 17 to 37 form part of these financial statements.

Page 13

 
CONISTON DARTFORD LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


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

£
£
£
£
£

At 1 December 2022
190
654,575
10
120,736
775,511


Comprehensive income for the year

Profit for the year
-
-
-
685,597
685,597


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(685,597)
(685,597)


At 30 November 2023
190
654,575
10
120,736
775,511


The notes on pages 17 to 37 form part of these financial statements.


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


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

£
£
£
£
£

At 1 December 2021
190
654,575
10
220,846
875,621


Comprehensive income for the year

Profit for the year
-
-
-
427,936
427,936


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(528,046)
(528,046)


At 30 November 2022
190
654,575
10
120,736
775,511


The notes on pages 17 to 37 form part of these financial statements.

Page 14

 
CONISTON DARTFORD LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
1,631,397
264,234

Adjustments for:

Depreciation of tangible assets
97,892
62,179

Loss on disposal of tangible assets
(18,012)
(4,053)

Interest paid
15,244
4,143

Interest received
(21,199)
(1,127)

Taxation charge
548,269
549,513

Decrease in stocks
158,947
444,949

(Increase) in debtors
(606,227)
(3,907,188)

Increase in creditors
37,168
4,221,256

Corporation tax (paid)
(43,050)
(109,485)

Net cash generated from operating activities

1,800,429
1,524,421


Cash flows from investing activities

Purchase of tangible fixed assets
(304,321)
(113,626)

Sale of tangible fixed assets
56,892
6,493

Interest received
21,199
1,127

Hire purchase interest paid
(2,496)
(1,799)

Net cash from investing activities

(228,726)
(107,805)
Page 15

 
CONISTON DARTFORD LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023


2023
2022

£
£



Cash flows from financing activities

Repayment of loans
-
(9,943)

Repayment of/new finance leases
26,631
14,074

Dividends paid
(685,597)
(528,046)

Interest paid
(12,748)
(2,344)

Dividends paid to non-controlling interests
(206,480)
(144,000)

Net cash used in financing activities
(878,194)
(670,259)

Net increase in cash and cash equivalents
693,509
746,357

Cash and cash equivalents at beginning of year
2,951,560
2,205,203

Cash and cash equivalents at the end of year
3,645,069
2,951,560


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,649,207
2,951,560

Bank overdrafts
(4,138)
-

3,645,069
2,951,560


The notes on pages 17 to 37 form part of these financial statements.

Page 16

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Coniston Dartford Limited is a private company limited by shares, registered in England and Wales. The address of the registered office is Collingwood House, Schooner Court, Crossways, Dartford, Kent, DA2 6QQ. The group's principal activity during the year under review continued to be that of a building contractor on construction and civil engineering projects.

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 30 November 2015.

 
2.3

Going concern

The directors have concluded that there are no significant uncertainities that would impact the group's going concern status for the next 12 months. These financial statements have been prepared on a going concern basis. 

Page 17

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue arises from property and civil engineering contracts and 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 amount of revenue included reflects the accruals of the right to consideration as the contract activity progress by reference to the value of the work performed. The following criteria must also be met before revenue is recognised:
Revenue from a contract to provide property and civil engineering 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;
•   the costs incurred and the costs to complete the contract can be measured reliably; and
•   where the contract outcome cannot be measured reliably, revenue is recognised only to the extent 
    of the expense recognised that are recoverable.
    

 
2.5

Operating leases: the group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss 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 profit or loss in the year in which they are incurred.

Page 18

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

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

The contributions are recognised as an expense in profit or loss 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 group 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 profit or loss 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 and the group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

Page 19

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 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/reducing balance method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance/ 7 year straight line
Office equipment
-
10%
/ 25%/ 33.33% reducing balance

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 profit or loss.

  
2.12

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and
the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of
the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost
less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a
straight-line basis to the Consolidated statement of comprehensive income over its useful economic
life.
 

 
2.13

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 profit or loss.

 
2.14

Debtors

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

Page 20

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

  
2.15

Long-term contracts

Amounts recoverable on long-term contracts, which are included in debtors, are stated at net sales value of work done after provisions for contingencies and anticipated future losses on contacts, less amounts received as progress payments on account. Where such amounts have been received and exceed amounts recovered, the net amounts are included in creditors as payments on account.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 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.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

 
2.17

Creditors

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

 
2.18

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 profit or loss.

 
2.19

Financial instruments

The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual
Page 21

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.19
Financial instruments (continued)

arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.20

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.

Page 22

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The group makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the processs of applying the company's accounting policies. 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 circumstances.
The estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are addressed below.
Depreciation and residual values
The directors have reviewed the asset live and associated residual values of all the fixed assets and have concluded the asset lives and residual values are appropriate.
The actual lives of the assets and residual values are accessed annually and may vary depending ona anumber of factors. In re-assessing assets lives, factors such as technological innovations, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and project disposal values.
Recoverability of Trade Debtors 
Trade and other debtors are recognised to the extent that they are judged recoverable. Provisions are made specifically against invoices where recoverability is uncertain.
Management makes allowances for doubtful debts on an assessment of the recoverability of debtors.
Work in progress (and Amounts recoverable on Long-term contracts)
The group uses qualified third party quantity surveyors to value projects and calculate the amount that the company bill the client. If management disagree with the valuation from the surveyors, the valuation will be challenged and the client is only billed when the valuation has been agreed.
All income and costs recorded on the surveyor's valuation which are not yet invoiced at the year end are provided for by means of an accrual.
The directors are required to make an assessment with regard to the future costs the group is likely to incur so as to fulfil its obligation under contracts, including remedial work necessary to guarantee the release of retention balances. Only specific provisions against contracts where such a provision is required or where specific remedial work is required are recognised. No general provisions are recognised. 

Page 23

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Turnover

The whole of the turnover is attributable to the principal activity of the group, being that of a building contractor on construction and civil engineering projects.
All turnover arose within the United Kingdom.

2023
2022
£
£

United Kingdom
59,612,263
49,133,597

59,612,263
49,133,597



5.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation
91,094
62,179

Other operating lease rentals
91,033
83,948


6.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2023
2022
£
£

Fees payable to the company's auditors for the audit of the group's financial statements

52,000
42,100

Fees payable to the company's auditors in respect of:

Taxation compliance services
5,695
5,150

Page 24

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Employees

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


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
6,110,743
5,805,036
-
-

Social security costs
573,870
490,493
-
-

Cost of defined contribution scheme
234,978
240,018
-
-

6,919,591
6,535,547
-
-


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



Group
Group
Company
Company
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Production
21
21
-
-



Administration
28
25
-
-



Management
79
64
3
3

128
110
3
3


8.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
42,142
41,010

Group contributions to defined contribution pension schemes
63,488
63,932

105,630
104,942


During the year retirement benefits were accruing to  2 directors (2022 - 2) in respect of defined contribution pension schemes.

Page 25

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Interest receivable

2023
2022
£
£


Other interest receivable
21,199
1,127

21,199
1,127


10.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
11,037
2,334

Other loan interest payable
1,695
-

Finance leases and hire purchase contracts
2,496
1,799

Other interest payable
16
10

15,244
4,143


11.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
440,685
100,558

Adjustments in respect of previous periods
46,018
773,836


Total current tax
486,703
874,394

Deferred tax


Origination and reversal of timing differences
61,566
(324,881)


Tax on profit
548,269
549,513
Page 26

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 23% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
2,179,666
813,747


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23% (2022 - 19%)
501,323
154,612

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
6,021
1,398

Capital allowances for year in excess of depreciation
(38,971)
(15,249)

Current year tax losses carried forward
23,250
50,615

Deferred tax movement
61,566
(324,881)

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
(734)
683,018

Unrelieved tax losses carried forward
(4,186)
-

Total tax charge for the year
548,269
549,513


Factors that may affect future tax charges


The group has carried forward losses of £1,317,127 available to offset against its future trading profits.


12.


Dividends

2023
2022
£
£


Dividend paid on equity capital
685,597
528,046

685,597
528,046

Page 27

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

13.


Intangible assets

Group





Goodwill

£



Cost


Additions
141,759



At 30 November 2023

141,759



Amortisation


Charge for the year on owned assets
3,544



At 30 November 2023

3,544



Net book value



At 30 November 2023
138,215



At 30 November 2022
-


Goodwill has arisen following the acquisition of a 51% shareholding in LinQed Limited on 17 August 2023


Page 28

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

14.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Motor vehicles
Fixtures, fittings, computer & office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2022
106,153
8,594
438,376
232,891
786,014


Additions
-
-
195,665
108,656
304,321


Acquisition of subsidiary
-
1,361
-
-
1,361


Disposals
-
-
(114,068)
-
(114,068)



At 30 November 2023

106,153
9,955
519,973
341,547
977,628



Depreciation


At 1 December 2022
12,738
8,308
283,020
197,002
501,068


Charge for the year on owned assets
2,123
1,016
49,371
19,945
72,455


Charge for the year on financed assets
-
-
25,438
-
25,438


Disposals
-
-
(75,188)
-
(75,188)



At 30 November 2023

14,861
9,324
282,641
216,947
523,773



Net book value



At 30 November 2023
91,292
631
237,332
124,600
453,855



At 30 November 2022
93,415
286
155,356
35,889
284,946

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


2023
2022
£
£



Motor vehicles
77,455
49,153

77,455
49,153

Page 29

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

15.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2022
1,957,826



At 30 November 2023
1,957,826





Direct subsidiary undertakings


The following were direct subsidiary undertakings of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Coniston Limited
Collingwood House,
Schooner Court,
Crossways,
Dartford,
Kent,
DA2 6QQ
Construction contractors
Ordinary
  100%
Apollo Building Services Limited
Collingwood House,
Schooner Court,
Crossways,
Dartford,
Kent,
DA2 6QQ
Medical installation contractors
Ordinary
  51%
Momentum Building Services Limited
Collingwood House,
Schooner Court,
Crossways,
Dartford,
Kent,
DA2 6QQ
Construction contractors
Ordinary
  51%

Page 30

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

Indirect subsidiary undertakings


The following were indirect subsidiary undertakings of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Parkserve Solutions Limited *
Collingwood House,
Schooner Court,
Crossways,
Dartford,
Kent,
DA2 6QQ
Mechanical,
electrical and civil engineering services
Ordinary
51%
Datum Design & Build Limited **
Unit 4c,
Austin Park,
Yeoman Road,
Ringwood,
United Kingdom,
BH24 3FA
Mechanical,electrical and civil engineering services
Ordinary
  51%
Coniston FM Limited *
Collingwood House, Schooner Court, Crossways, 
Dartford,  
Kent, 
DA2 6QQ
Construction contractors
Ordinary
51%
LinQed Limited **
Suite 1
First Floor
1 Duchess Street
London
W1W 6AN
Construction contractors
Ordinary
51%

* Shareholding held via Coniston Limited
** Shareholding held via Apollo Building Services Limited


16.


Stocks

Group
Group
2023
2022
£
£

Work in progress
342,889
456,933

342,889
456,933


Page 31

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

17.


Debtors



Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
7,079,579
6,484,069
-
-

Other debtors
262,264
284,139
662
662

Called up share capital not paid
100
-
-
-

Prepayments and accrued income
1,193,000
684,258
-
-

Amounts recoverable on long-term contracts
4,098,952
4,378,532
-
-

Deferred taxation
244,017
305,583
-
-

12,877,912
12,136,581
662
662



18.


Cash and cash equivalents

Group
Group
2023
2022
£
£

Cash at bank and in hand
3,649,207
2,951,560

Less: bank overdrafts
(4,138)
-

3,645,069
2,951,560



19.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank overdrafts
4,138
-
-
-

Bank loans
35,785
10,000
-
-

Trade creditors
5,091,720
4,434,962
-
-

Amounts owed to group undertakings
-
-
518,977
518,977

Corporation tax
487,311
65,533
-
-

Other taxation and social security
1,800,755
2,310,289
-
-

Obligations under finance lease and hire purchase contracts
17,366
36,163
-
-

Other creditors
820,074
690,643
664,000
664,000

Accruals and deferred income
6,477,028
6,166,205
-
-

14,734,177
13,713,795
1,182,977
1,182,977


Page 32

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

20.


Creditors: Amounts falling due after more than one year

Group
Group
2023
2022
£
£

Bank loans
15,204
25,057

Net obligations under finance leases and hire purchase contracts
21,554
3,693

36,758
28,750





21.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2023
2022
£
£

Amounts falling due within one year

Bank loans
35,785
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
5,204
15,057


50,989
35,057


The bank loans (under bounce back loan schemes) are unsecured.


22.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2023
2022
£
£

Within one year
3,693
36,163

Between 1-5 years
-
3,693

3,693
39,856

Net obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

Page 33

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

23.


Deferred taxation


Group



2023
2022


£

£






At beginning of year
305,583
(19,298)


Charged to profit or loss
(46,871)
324,881


Utilised in year
(14,695)
-



At end of year
244,017
305,583

Group
Group
2023
2022
£
£

Accelerated capital allowances
(92,638)
(35,624)

Tax losses carried forward
336,655
341,207

244,017
305,583


24.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4,750 (2022 - 4,750) Ordinary A shares of £0.01 each
47.5
47.5
9,500 (2022 - 9,500) Ordinary B shares of £0.01 each
95.0
95.0
3,550 (2022 - 3,550) Ordinary C shares of £0.01 each
35.5
35.5
600 (2022 - 600) Ordinary D shares of £0.01 each
6.0
6.0
600 (2022 - 600) Ordinary E shares of £0.01 each
6.0
6.0

190.0

190.0

Ordinary A and B shares of £0.01 each are not redeemable, and carry full equal rights for dividends, capital distributions and voting.
Ordinary C, D and E shares of £0.01 each carry equity rights only.


Page 34

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

25.


Reserves

Share premium account

Consideration received for shares in excess of their nominal value is reflected as share premium.

Capital redemption reserve

Share repurchased by the company are moved to the capital redemption reserve at their nominal value.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


26.


Pension commitments

The group operates defined contribution pension schemes. The assets of the schemes are held separately from those of the group in independently administered funds. The pension cost charge represents contributions payable by the group  to the fund and amounted to £234,978 (2022 - £240,018). 
Contributions totalling £20,682 (2022 - £16,812) were payable to the fund at the balance sheet date and are included in other creditors.


27.


Commitments under operating leases

At 30 November 2023 the group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2023
2022
£
£

Not later than 1 year
2,197
12,874

Later than 1 year and not later than 5 years
-
2,197

2,197
15,071
Page 35

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

28.


Related party transactions

The group has taken advantage of the FRS 102 paragraph 33.1A exemption not to disclose transactions with other members of the group that are wholly owned by the Company. The following transactions occurred during the year, within the group, which are classified as related party transactions:
A director of Coniston Limited is a partner in Coniston Building Services. Trading between Coniston Limited and Coniston Building Services has resulted in transactions undertaken and balances outstanding at the year end as follows:
- Rent expense £80,000 (2022- £73,333).
- Sales £1,539 (2022 - £2,493). 
- Purchases £1,105 (2022 - £32,000).   
- Amounts owed to Coniston Building Services as at the balance sheet date £8,000 (2022- £20,095 owed by).
Coniston Limited owns 51% of the issued share capital of Parkserve Solutions Limited. Trading between Coniston Limited and Parkserve Solutions Limited has resulted in transactions undertaken and balances outstanding at the year end as follows:
- Sales £425,000 (2022- £574,630).
- Staff cost recharge £37,413 (2022 - £Nil)
- Amounts owed by Parkserve Solutions Limited as at the balance sheet date £75,000 (2022- £29,005).
A director of Coniston Limited is also a director of Apollo Building Services Limited, which is also a subsidiary of the parent company, Coniston Dartford Limited. Trading between Coniston Limited and Apollo Building Services Limited has resulted in transactions undertaken and balances outstanding at the year end as follows:
- Sales £Nil (2022 - £350,512).
- Management fee income £400,000 (2022- £336,000). 
- Amounts owed by Apollo Building Services Limited as at the balance sheet date £3,748 (2022 -
£102,357).
A director of Coniston Limited is also a director of Momentum Building Services Engineering Limited, which is also a subsidiary of the parent company, Coniston Dartford Limited. Trading between Coniston Limited and Momentum Building Services Engineering Limited has resulted in transactions undertaken and balances outstanding at the year end as follows:
- Sales £659,664 (2022 - £377,508)
- Management fee income £45,000 (2022 - £45,000). 
- Purchases (cost of sales) £Nil (2022 - £554,089)
- Amounts owed by Momentum Building Services Engineering Limited as at the balance sheet  date £185,416 (2022 - £373,067).
Apollo Building Services Limited owns 51% of the issued share capital of Datum Design and Build Limited. Trading between Datum Design and Build Limited and Apollo Building Services Limited has resulted in transactions undertaken and balances outstanding at the year end as follows: 
- Sales £Nil (2022 - £Nil).
- Purchases (cost of sales) £214,845 (2022 - £916,234)
- Amounts owed to Datum Design and Build Limited as at the balance sheet date £214,845 (2022 -£254,944).

 
Page 36

 
CONISTON DARTFORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

28.Related party transactions (continued)



29.


Controlling party

The ultimate controlling party is Mr J P Rathbone through a majority shareholding.

 
Page 37