2022-10-012023-09-302023-09-30false06705067Corrigan & Chapman Construction Ltd2024-09-10iso4217:GBPxbrli:pure067050672022-10-01067050672023-09-30067050672022-10-012023-09-30067050672021-10-01067050672022-09-30067050672021-10-012022-09-3006705067bus:SmallEntities2022-10-012023-09-3006705067bus:AuditExempt-NoAccountantsReport2022-10-012023-09-3006705067bus:FullAccounts2022-10-012023-09-3006705067bus:PrivateLimitedCompanyLtd2022-10-012023-09-3006705067core:WithinOneYear2023-09-3006705067core:AfterOneYear2023-09-3006705067core:WithinOneYear2022-09-3006705067core:AfterOneYear2022-09-3006705067core:ShareCapital2023-09-3006705067core:SharePremium2023-09-3006705067core:RevaluationReserve2023-09-3006705067core:OtherReservesSubtotal2023-09-3006705067core:RetainedEarningsAccumulatedLosses2023-09-3006705067core:ShareCapital2022-09-3006705067core:SharePremium2022-09-3006705067core:RevaluationReserve2022-09-3006705067core:OtherReservesSubtotal2022-09-3006705067core:RetainedEarningsAccumulatedLosses2022-09-3006705067core:LandBuildings2023-09-3006705067core:PlantMachinery2023-09-3006705067core:Vehicles2023-09-3006705067core:FurnitureFittings2023-09-3006705067core:OfficeEquipment2023-09-3006705067core:NetGoodwill2023-09-3006705067core:IntangibleAssetsOtherThanGoodwill2023-09-3006705067core:ListedExchangeTraded2023-09-3006705067core:UnlistedNon-exchangeTraded2023-09-3006705067core:LandBuildings2022-09-3006705067core:PlantMachinery2022-09-3006705067core:Vehicles2022-09-3006705067core:FurnitureFittings2022-09-3006705067core:OfficeEquipment2022-09-3006705067core:NetGoodwill2022-09-3006705067core:IntangibleAssetsOtherThanGoodwill2022-09-3006705067core:ListedExchangeTraded2022-09-3006705067core:UnlistedNon-exchangeTraded2022-09-3006705067core:LandBuildings2022-10-012023-09-3006705067core:PlantMachinery2022-10-012023-09-3006705067core:Vehicles2022-10-012023-09-3006705067core:FurnitureFittings2022-10-012023-09-3006705067core:OfficeEquipment2022-10-012023-09-3006705067core:NetGoodwill2022-10-012023-09-3006705067core:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3006705067core:ListedExchangeTraded2022-10-012023-09-3006705067core:UnlistedNon-exchangeTraded2022-10-012023-09-3006705067core:MoreThanFiveYears2022-10-012023-09-3006705067core:Non-currentFinancialInstruments2023-09-3006705067core:Non-currentFinancialInstruments2022-09-3006705067dpl:CostSales2022-10-012023-09-3006705067dpl:DistributionCosts2022-10-012023-09-3006705067core:LandBuildings2022-10-012023-09-3006705067core:PlantMachinery2022-10-012023-09-3006705067core:Vehicles2022-10-012023-09-3006705067core:FurnitureFittings2022-10-012023-09-3006705067core:OfficeEquipment2022-10-012023-09-3006705067dpl:AdministrativeExpenses2022-10-012023-09-3006705067core:NetGoodwill2022-10-012023-09-3006705067core:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3006705067dpl:GroupUndertakings2022-10-012023-09-3006705067dpl:ParticipatingInterests2022-10-012023-09-3006705067dpl:GroupUndertakingscore:ListedExchangeTraded2022-10-012023-09-3006705067core:ListedExchangeTraded2022-10-012023-09-3006705067dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-10-012023-09-3006705067core:UnlistedNon-exchangeTraded2022-10-012023-09-3006705067dpl:CostSales2021-10-012022-09-3006705067dpl:DistributionCosts2021-10-012022-09-3006705067core:LandBuildings2021-10-012022-09-3006705067core:PlantMachinery2021-10-012022-09-3006705067core:Vehicles2021-10-012022-09-3006705067core:FurnitureFittings2021-10-012022-09-3006705067core:OfficeEquipment2021-10-012022-09-3006705067dpl:AdministrativeExpenses2021-10-012022-09-3006705067core:NetGoodwill2021-10-012022-09-3006705067core:IntangibleAssetsOtherThanGoodwill2021-10-012022-09-3006705067dpl:GroupUndertakings2021-10-012022-09-3006705067dpl:ParticipatingInterests2021-10-012022-09-3006705067dpl:GroupUndertakingscore:ListedExchangeTraded2021-10-012022-09-3006705067core:ListedExchangeTraded2021-10-012022-09-3006705067dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-10-012022-09-3006705067core:UnlistedNon-exchangeTraded2021-10-012022-09-3006705067core:NetGoodwill2023-09-3006705067core:IntangibleAssetsOtherThanGoodwill2023-09-3006705067core:LandBuildings2023-09-3006705067core:PlantMachinery2023-09-3006705067core:Vehicles2023-09-3006705067core:FurnitureFittings2023-09-3006705067core:OfficeEquipment2023-09-3006705067core:AfterOneYear2023-09-3006705067core:WithinOneYear2023-09-3006705067core:ListedExchangeTraded2023-09-3006705067core:UnlistedNon-exchangeTraded2023-09-3006705067core:ShareCapital2023-09-3006705067core:SharePremium2023-09-3006705067core:RevaluationReserve2023-09-3006705067core:OtherReservesSubtotal2023-09-3006705067core:RetainedEarningsAccumulatedLosses2023-09-3006705067core:NetGoodwill2022-09-3006705067core:IntangibleAssetsOtherThanGoodwill2022-09-3006705067core:LandBuildings2022-09-3006705067core:PlantMachinery2022-09-3006705067core:Vehicles2022-09-3006705067core:FurnitureFittings2022-09-3006705067core:OfficeEquipment2022-09-3006705067core:AfterOneYear2022-09-3006705067core:WithinOneYear2022-09-3006705067core:ListedExchangeTraded2022-09-3006705067core:UnlistedNon-exchangeTraded2022-09-3006705067core:ShareCapital2022-09-3006705067core:SharePremium2022-09-3006705067core:RevaluationReserve2022-09-3006705067core:OtherReservesSubtotal2022-09-3006705067core:RetainedEarningsAccumulatedLosses2022-09-3006705067core:NetGoodwill2021-10-0106705067core:IntangibleAssetsOtherThanGoodwill2021-10-0106705067core:LandBuildings2021-10-0106705067core:PlantMachinery2021-10-0106705067core:Vehicles2021-10-0106705067core:FurnitureFittings2021-10-0106705067core:OfficeEquipment2021-10-0106705067core:AfterOneYear2021-10-0106705067core:WithinOneYear2021-10-0106705067core:ListedExchangeTraded2021-10-0106705067core:UnlistedNon-exchangeTraded2021-10-0106705067core:ShareCapital2021-10-0106705067core:SharePremium2021-10-0106705067core:RevaluationReserve2021-10-0106705067core:OtherReservesSubtotal2021-10-0106705067core:RetainedEarningsAccumulatedLosses2021-10-0106705067core:AfterOneYear2022-10-012023-09-3006705067core:WithinOneYear2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:CostValuation2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-10-012023-09-3006705067core:Non-currentFinancialInstrumentscore:CostValuation2023-09-3006705067core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-09-3006705067core:Non-currentFinancialInstrumentscore:CostValuation2022-09-3006705067core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-09-3006705067core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-09-3006705067bus:Director12022-10-012023-09-3006705067bus:Director22022-10-012023-09-3006705067bus:Director32022-10-012023-09-3006705067bus:Director42022-10-012023-09-3006705067core:FurnitureFittingsToolsEquipment2022-09-3006705067core:FurnitureFittingsToolsEquipment2022-10-012023-09-3006705067core:FurnitureFittingsToolsEquipment2023-09-30067050671bus:Director12022-10-01067050671bus:Director12022-10-012023-09-30067050671bus:Director12023-09-30067050672bus:Director22022-10-01067050672bus:Director22022-10-012023-09-30067050672bus:Director22023-09-30067050672022-10-01067050672022-10-012023-09-30067050672023-09-30

Corrigan & Chapman Construction Ltd

Registered Number
06705067
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

Corrigan & Chapman Construction Ltd
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

Mr G Chapman
Mr R Corrigan
Mrs M Chapman
Mrs L Corrigan

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

06705067 (England and Wales)
Corrigan & Chapman Construction Ltd
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets472,29580,087
72,29580,087
Current assets
Stocks58,1107,509
Debtors61,066,2981,362,744
Cash at bank and on hand1,193,0821,134,005
2,267,4902,504,258
Creditors amounts falling due within one year7(1,074,356)(1,360,921)
Net current assets (liabilities)1,193,1341,143,337
Total assets less current liabilities1,265,4291,223,424
Creditors amounts falling due after one year8(473,648)(655,063)
Provisions for liabilities10(18,074)(14,700)
Net assets773,707553,661
Capital and reserves
Called up share capital51,00051,000
Profit and loss account722,707502,661
Shareholders' funds773,707553,661
The financial statements were approved and authorised for issue by the Board of Directors on 10 September 2024, and are signed on its behalf by:
Mr G Chapman
Director
Mr R Corrigan
Director

Registered Company No. 06705067
Corrigan & Chapman Construction Ltd
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year1716
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 22600,000600,000
At 30 September 23600,000600,000
Amortisation and impairment
At 01 October 22600,000600,000
At 30 September 23600,000600,000
Net book value
At 30 September 23--
At 30 September 22--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 October 2216,599215,45059,152291,201
Additions--11,06311,063
Disposals-(13,000)-(13,000)
At 30 September 2316,599202,45070,215289,264
Depreciation and impairment
At 01 October 2215,474147,91547,725211,114
Charge for year22513,3514,49818,074
On disposals-(12,219)-(12,219)
At 30 September 2315,699149,04752,223216,969
Net book value
At 30 September 2390053,40317,99272,295
At 30 September 221,12567,53511,42780,087
5.Stocks

2023

2022

££
Finished goods8,1107,509
Total8,1107,509
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables445,242870,263
Other debtors463,461332,480
Prepayments and accrued income157,595160,001
Total1,066,2981,362,744
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables395,661627,497
Bank borrowings and overdrafts46,75845,526
Taxation and social security495,098549,894
Finance lease and HP contracts10,30010,300
Other creditors121,788122,105
Accrued liabilities and deferred income4,7515,599
Total1,074,3561,360,921
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. National Westminster Bank PLC hold a fixed and floating charge over all the assets of the business as security against the banking facilities dated 20 April 2009.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts28,56069,675
Other creditors445,088585,388
Total473,648655,063
9.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts26,33336,633
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)18,07414,700
Total18,07414,700
11.Other commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 2023 - £18,300 2022 - £18,000
12.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr G Chapman169,48993,95153,400210,040
Mr R Corrigan155,89385,15154,387186,657
325,382179,102107,787396,697