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REGISTERED NUMBER: 12124594 (England and Wales)












S & P CLARKE HOLDINGS LTD

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


S & P CLARKE HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P R Clarke
S Clarke





SECRETARY: Mrs K Clarke





REGISTERED OFFICE: The Workshop
Slippery Gowt Lane
Wyberton
Boston
Lincolnshire
PE21 7AA





REGISTERED NUMBER: 12124594 (England and Wales)





AUDITORS: Dexter & Sharpe (Boston)
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023


The directors present their strategic report of the company and the group for the year ended 30 November 2023.

Clarke Group carries out Contracts throughout the UK. These Contracts are either under negotiation or competitive tender. Some Contracts have third party design and consultants in place by the client and others are in-house design and build. There are two main sectors to the business, one sector working for the poultry industry and the other sector working for all aspects of general construction, new builds and renovation works for industrial, commercial, public sector and residential. The Company's head office is based in Boston and due to continued growth, the Company has recently opened an office in Lincoln.

REVIEW OF BUSINESS
Over recent years, the Company has successfully overcome industry challenges such as increases in material prices, material shortages, labour shortages due to Brexit and COVID-19. There have also been challenges in the poultry sector due to Avian Bird Flu. We have worked closely with our clients, our supply chain and subcontractors to overcome these issues and have had one of their best trading years.

The group achieved £17,203,939 turnover for the year ended 30 November 2023, this has shown an decrease of £4,863,450 on 2022. With a net profit before tax of £2,103,518, a 69.8% increase on the previous year. This has been Clarke Group's most successful trading year since forming in 1999.

The increase in the net profit has been due to an increase in the margin, new management systems being implemented as the Company has grown. The new management systems have been one of the core reasons that has helped the Company achieve efficiency in delivering projects.

The company has a full order book for the coming year which continues through into 2024 with new and existing clients.

PRINCIPAL RISKS AND UNCERTAINTIES
Clarke Group have an experienced team that are able to efficiently identify and manage risks which present themselves to the business.
A summary of identified risks to the Company and successful action taken are summarized below;

Supply chains have been erratic over recent years due to Covid and Brexit. The Company has since implemented new monitoring procedures to ensure continuity of the supply chain throughout a live contract and future Contracts. Also, new staff have been appointed to the in-house procurement team to ensure 'best prices' are obtained and good relationships with our supply chains maintained.

Securing a skilled and reliable workforce for live Contracts is essential. The Company continues to invest in staff training to develop and increase the in-house diverse workforce, which gives the Company increased control on live Contracts to minimize subcontract labour required.

The current Economic uncertainty is causing unease and could affect certain sectors that the construction industry works for. To mitigate this, the Company continues to explore working with varied sectors and authorities.

The Health and Safety of our workforce is paramount. The Company ensures employee health and safety training is up-to-date and external Health and Safety Consultants are employed to monitor sites. The Company maintains its CHAS and Safecontractor accreditation.

The Company regularly updates its in-house policies and procedures to ensure it meets all legal requirements.


S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023

DELIVERY OF CONTRACTS
The Company has a good longstanding workforce that are committed to the success of the company.

The Company continues to use its efficient in-house protocols and procedures to win new Contracts and run live Contracts.

Feedback on completed Contracts is vital to ensure customer satisfaction and continued growth. This is obtained from employees that have worked on the contract, financial analysis from our in-house 'Work-in-Progress' and customers' opinion.

ON BEHALF OF THE BOARD:





S Clarke - Director


22 August 2024

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 NOVEMBER 2023


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

DIVIDENDS
The total distribution of dividends for the year ended 30 November 2023 will be £ 79,200 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

P R Clarke
S Clarke

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;
- make judgements 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 company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Dexter & Sharpe (Boston), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Clarke - Director


22 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
S & P CLARKE HOLDINGS LTD


Opinion
We have audited the financial statements of S & P Clarke Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 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 UK, including the FRC'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 and 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
S & P CLARKE HOLDINGS LTD


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have enquired of those charged with governance around actual and potential litigation and claims.
We have reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Enquired of staff engaged in the completion of VAT, tax and compliance work to identify any instances of non compliance with laws and regulations.
Audited the risk of management override of controls including review of journal entries and large or unusual transaction, evaluating the business rationale of any significant transactions outside the course of business.

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 Report of the Auditors.




Nicola Michelle Lenton FCCA (Senior Statutory Auditor)
for and on behalf of Dexter & Sharpe (Boston)
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

22 August 2024

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
Notes £    £   

TURNOVER 17,203,644 22,067,094

Cost of sales (14,143,671 ) (20,001,763 )
GROSS PROFIT 3,059,973 2,065,331

Administrative expenses (956,346 ) (831,305 )
2,103,627 1,234,026

Other operating income 25,391 26,177
OPERATING PROFIT 3 2,129,018 1,260,203

Interest receivable and similar income 5,998 354
2,135,016 1,260,557

Interest payable and similar expenses 4 (31,499 ) (21,941 )
PROFIT BEFORE TAXATION 2,103,517 1,238,616

Tax on profit 5 (410,961 ) (164,675 )
PROFIT FOR THE FINANCIAL YEAR 1,692,556 1,073,941
Profit attributable to:
Owners of the parent 1,692,556 1,073,941

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,692,556 1,073,941


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,692,556

1,073,941

Total comprehensive income attributable to:
Owners of the parent 1,692,556 1,073,941

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

CONSOLIDATED BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 505,934 481,142
Investments 9 - -
505,934 481,142

CURRENT ASSETS
Stocks 10 2,675,800 2,293,639
Debtors 11 2,802,150 3,311,815
Cash at bank and in hand 655,188 1,042,073
6,133,138 6,647,527
CREDITORS
Amounts falling due within one year 12 2,132,724 4,113,375
NET CURRENT ASSETS 4,000,414 2,534,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,506,348

3,015,294

CREDITORS
Amounts falling due after more than one
year

13

(205,834

)

(341,788

)

PROVISIONS FOR LIABILITIES 17 (118,909 ) (105,257 )
NET ASSETS 4,181,605 2,568,249

CAPITAL AND RESERVES
Called up share capital 18 768 768
Capital redemption reserve 19 334 334
Retained earnings 19 4,180,503 2,567,147
SHAREHOLDERS' FUNDS 4,181,605 2,568,249

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




P R Clarke - Director



S Clarke - Director


S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

COMPANY BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 - -
Investments 9 768 768
768 768

CURRENT ASSETS
Debtors 11 19,800 19,800
Cash at bank 2,255 2,293
22,055 22,093
CREDITORS
Amounts falling due within one year 12 19,298 17,977
NET CURRENT ASSETS 2,757 4,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,525

4,884

CAPITAL AND RESERVES
Called up share capital 18 768 768
Retained earnings 2,757 4,116
SHAREHOLDERS' FUNDS 3,525 4,884

Company's profit for the financial year 77,841 88,628

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

COMPANY BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




P R Clarke - Director



S Clarke - Director


S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

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

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 December 2021 768 1,572,406 334 1,573,508

Changes in equity
Dividends - (79,200 ) - (79,200 )
Total comprehensive income - 1,073,941 - 1,073,941
Balance at 30 November 2022 768 2,567,147 334 2,568,249

Changes in equity
Dividends - (79,200 ) - (79,200 )
Total comprehensive income - 1,692,556 - 1,692,556
Balance at 30 November 2023 768 4,180,503 334 4,181,605

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2021 768 (5,312 ) (4,544 )

Changes in equity
Dividends - (79,200 ) (79,200 )
Total comprehensive income - 88,628 88,628
Balance at 30 November 2022 768 4,116 4,884

Changes in equity
Dividends - (79,200 ) (79,200 )
Total comprehensive income - 77,841 77,841
Balance at 30 November 2023 768 2,757 3,525

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 195,710 28,003
Interest paid (30,686 ) (19,608 )
Interest element of hire purchase payments
paid

(813

)

(2,333

)
Tax paid (181,797 ) 27,241
Net cash from operating activities (17,586 ) 33,303

Cash flows from investing activities
Purchase of tangible fixed assets (171,551 ) (174,585 )
Sale of tangible fixed assets 16,624 52,967
Interest received 5,998 354
Net cash from investing activities (148,929 ) (121,264 )

Cash flows from financing activities
Loan repayments in year (130,000 ) (130,000 )
Capital repayments in year (11,170 ) (36,317 )
Amount withdrawn by directors - (14,282 )
Other financing - 300
Equity dividends paid (79,200 ) (59,400 )
Net cash from financing activities (220,370 ) (239,699 )

Decrease in cash and cash equivalents (386,885 ) (327,660 )
Cash and cash equivalents at beginning of
year

2

1,042,073

1,369,733

Cash and cash equivalents at end of year 2 655,188 1,042,073

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 2,103,517 1,238,616
Depreciation charges 133,126 110,643
Profit on disposal of fixed assets (2,990 ) (24,601 )
Finance costs 31,499 21,941
Finance income (5,998 ) (354 )
2,259,154 1,346,245
(Increase)/decrease in stocks (382,161 ) 594,248
Decrease/(increase) in trade and other debtors 509,665 (1,393,051 )
Decrease in trade and other creditors (2,190,948 ) (519,439 )
Cash generated from operations 195,710 28,003

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 655,188 1,042,073
Year ended 30 November 2022
30.11.22 1.12.21
£    £   
Cash and cash equivalents 1,042,073 1,369,733


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.22 Cash flow At 30.11.23
£    £    £   
Net cash
Cash at bank and in hand 1,042,073 (386,885 ) 655,188
1,042,073 (386,885 ) 655,188
Debt
Finance leases (17,125 ) 11,170 (5,955 )
Debts falling due within 1 year (130,000 ) - (130,000 )
Debts falling due after 1 year (335,833 ) 129,999 (205,834 )
(482,958 ) 141,169 (341,789 )
Total 559,115 (245,716 ) 313,399

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises the value of contracting work executed during the year plus the invoiced value of other sales. The value of contracting work is based on measured valuations, incorporating profit
earned to the valuation date and adjusted for any anticipated losses. Other sales are invoiced upon performance of the services provided.

The amount by which recorded turnover on uncompleted contracts is in excess of payments on
account is classified as amounts recoverable on contracts and separately disclosed in work in
progress.

The amount by which payments on account on uncompleted contracts is in excess of recorded
turnover is classified as contract payments on account and disclosed in creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress and sites awaiting development and development properties are stated at the lower of cost and net realisable value. Cost comprises costs of land and costs of development. Net realisable value incorporates expected costs to completion and disposal. Provision is made against all categories of work in progress where it is anticipated that cost will not be fully recovered against future disposals.

Raw materials and consumables are stated at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,009,185 1,010,901
Social security costs 97,647 103,047
Other pension costs 44,466 45,928
1,151,298 1,159,876

The average number of employees during the year was as follows:
2023 2022

Administration 5 5
Construction 25 26
Directors 2 2
32 33

2023 2022
£    £   
Directors' remuneration 17,264 17,264
Directors' pension contributions to money purchase schemes 24,000 24,000

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 129,888 98,963
Depreciation - assets on hire purchase contracts 3,237 11,681
Profit on disposal of fixed assets (2,990 ) (24,601 )
Auditors' remuneration 8,000 8,000

4. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 328 137
Bank loan interest 30,358 19,471
Hire purchase 813 2,333
31,499 21,941

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 397,309 131,797

Deferred tax 13,652 32,878
Tax on profit 410,961 164,675

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


7. DIVIDENDS
2023 2022
£    £   
Final - 19,800
Interim 79,200 59,400
79,200 79,200

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 64,385 713,191 79,577 367,568 1,224,721
Additions 9,903 70,184 13,352 78,112 171,551
Disposals - (867 ) (7,834 ) (58,008 ) (66,709 )
At 30 November 2023 74,288 782,508 85,095 387,672 1,329,563
DEPRECIATION
At 1 December 2022 52,900 446,505 56,067 188,107 743,579
Charge for year 4,457 65,565 6,292 56,811 133,125
Eliminated on disposal - (636 ) (5,725 ) (46,714 ) (53,075 )
At 30 November 2023 57,357 511,434 56,634 198,204 823,629
NET BOOK VALUE
At 30 November 2023 16,931 271,074 28,461 189,468 505,934
At 30 November 2022 11,485 266,686 23,510 179,461 481,142

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 11,250 56,134 67,384
Transfer to ownership (11,250 ) (38,500 ) (49,750 )
At 30 November 2023 - 17,634 17,634
DEPRECIATION
At 1 December 2022 5,250 25,588 30,838
Charge for year - 3,237 3,237
Transfer to ownership (5,250 ) (20,904 ) (26,154 )
At 30 November 2023 - 7,921 7,921
NET BOOK VALUE
At 30 November 2023 - 9,713 9,713
At 30 November 2022 6,000 30,546 36,546

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 768
NET BOOK VALUE
At 30 November 2023 768
At 30 November 2022 768


10. STOCKS

Group
2023 2022
£    £   
Stocks 2,675,800 2,293,639

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 1,353,819 2,087,932 - -
Other debtors 1,407,668 1,178,690 19,800 19,800
Prepayments and accrued income 40,663 45,193 - -
2,802,150 3,311,815 19,800 19,800

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Other loans (see note 14) 130,000 130,000 - -
Hire purchase contracts (see note 15) 5,955 11,170 - -
Trade creditors 1,182,528 1,378,094 2,836 1,515
Amounts owed to group undertakings - - 14,962 14,962
Corporation Tax 347,309 131,797 - -
Social security and other taxes 35,023 49,284 - -
VAT 208,050 621,336 - -
Proposed dividends 19,800 19,800 - -
Other creditors 3,836 4,259 - -
Accruals and deferred income 200,223 1,767,635 1,500 1,500
2,132,724 4,113,375 19,298 17,977

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Other loans (see note 14) 205,834 335,833
Hire purchase contracts (see note 15) - 5,955
205,834 341,788

14. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans 130,000 130,000
Amounts falling due between one and two years:
Other loans - 1-2 years 130,000 130,000
Amounts falling due between two and five years:
Other loans - 2-5 years 75,834 205,833

Bank loans are repayable by monthly instalments with the final repayment due in 2026, interest is
charged at 2.62% p.a. over the Bank of England Base Rate.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,955 11,170
Between one and five years - 5,955
5,955 17,125

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


16. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Other loans 335,834 465,833
Hire purchase contracts 5,955 17,125
341,789 482,958

The bank loan is secured by a charge over the groups assets.

Hire purchase amounts are secured on the assets to which they relate.

17. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 118,909 105,257

Group
Deferred
tax
£   
Balance at 1 December 2022 105,257
Accelerated capital allowances 13,652
Rate movement
Balance at 30 November 2023 118,909

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
768 Ordinary £1 768 768

S & P CLARKE HOLDINGS LTD (REGISTERED NUMBER: 12124594)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


19. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 December 2022 2,567,147 334 2,567,481
Profit for the year 1,692,556 1,692,556
Dividends (79,200 ) (79,200 )
At 30 November 2023 4,180,503 334 4,180,837


20. RELATED PARTY DISCLOSURES

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

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

S & P Clarke Limited
A company under the control of the directors:

During the year the group paid rents to S & P Clarke Limited totalling £7,000 (2022 - £7,000), the group made net sales totalling £962 (2022 - £1,738). At the balance sheet date an amount of £550 (2022 - £2,085) was due from S & P Clarke Limited this amount is included in trade debtors.

During the year the group advanced amounts totalling £573,540 (2022 - £433,700), at the balance sheet date an amount of £1,167,740 (2022 - £594,200) was due from S & P Clarke Limited this amount is included in other debtors.

S & P Clarke
A Partnership operated by the directors:

During the year the group paid rents to S & P Clarke partnership totalling £45,400 (2022 - £45,400). At the balance sheet date no amounts were outstanding to or from S & P Clarke partnership.


Mr S Clarke
A director of the group:

During the year the company made net sales to Mr S Clarke and his wife totalling £264,179 (2021 - £143,135). at the balance sheet date an amount of £319,123 (2022 - £143,135) was outstanding and included in trade debtors.