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REGISTERED NUMBER: 02198767 (England and Wales)















Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2023

for

DELCON CONSTRUCTION LIMITED

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


DELCON CONSTRUCTION LIMITED

Company Information
for the year ended 31 December 2023







Directors: Mr M A O'Connell
Mr J Dugan
Mr C K Miles
Mr S O’Connell
Mr G O’Connell
Mr R J Williams





Registered office: University House
11-13 Lower Grosvenor Place
London
SW1W 0EX





Registered number: 02198767 (England and Wales)





Auditors: Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor
Marlborough House, 298 Regents Park Road
Finchley
London
N3 2SZ

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Strategic Report
for the year ended 31 December 2023


The directors present their strategic report for the year ended 31 December 2023.

Review of business
The Company continues to operate in the business of construction, structural alteration, refurbishment and fit-out for exclusive residential and commercial properties in and around London.

Despite 2023 being a challenging year for the Company, turnover increased to c£14.01m (2022: £13.87m). Margin performance came under pressure during the year with cost challenges on two particular projects resulting in Operating Profit falling to £804k (2022: £1.27m). The Company's activities during the year included a mix of both residential and commercials schemes.

Inflationary pressures have been closely managed during the year and the Directors have taken a prudent approach to contractual terms to mitigate potential margin erosion as much as possible. We anticipate that commercial pressures will persist in 2024 although we remain optimistic about the Company's prospects given the level of activity in our particular sector.

Our balance sheet remains extremely strong which allows the Company to pursue a selective approach to the work we undertake. It is our stated intention to continue undertaking a limited number of exclusive schemes each year at pricing levels that properly reflect the associated risks.

Principal risks and uncertainties
It is the Company's policy to proactively identify, understand and manage the risks inherent in the operation of our business so as to encourage responsible and informed decision making. The Company's exposure to financial risk is mitigated at an early stage of each project as each subcontractor to be employed is subjected to a stringent vetting process and prices are set at the outset of a project and continually monitored throughout for efficacy.

Credit risk exposure is limited as the Company adheres strictly to the contractual terms of each project (generally under JCT standard forms of contract), as the Company's history of limited bad debts has successfully illustrated.

Liquidity risk is also limited as the contract terms of projects carried out by the Company ensure that it receives settlement of its invoices on a regular basis. Allied to this, the Company's policy is to make payments to its subcontractors and suppliers in an expeditious manner.

Cash flow risk is managed on a daily basis via the Company's established procedures of credit management, payment processing and continual financial analysis and reconciliation. During the year, the Company retained its excellent rating with credit reference agencies.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:





Mr C K Miles - Director


13 September 2024

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Report of the Directors
for the year ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

Principal activity
The principal activity of the company in the year under review was that of high quality construction projects.

Dividends
The total distribution of dividends for the year ended 31 December 2023 will be £200,250 (2022: £950,001).

Future developments
As part of the Group's succession planning, the Directors have been engaged in a recruitment process to secure a new Managing Director during the course of the year. This process reached a conclusion in January 2024 and Paul McBurney was appointed in March 2024. Ray Williams, the current Managing Director, will continue in a supporting role until the end of 2024 to ensure a smooth transition before moving into the Chairman role at that time.

The Directors anticipate that inflation will continue to be a challenge for the sector throughout 2023 in respect of both labour and materials. The Directors will continue to take a prudent approach to contractual terms with our clients and subcontractors.

Effective credit risk assessment will remain critical when engaging subcontractors during these turbulent economic times and the Company will continue to implement stringent credit control measures to mitigate default risk.

Directors
The directors shown below have held the office during the whole of the period from 1 January 2023 to the date of this report.

Mr M A O'Connell
Mr R Williams
Mr J Dugan
Mr C Miles
Mr G O'Connell
Mr S O'Connell

Financial risk management objectives & policies
The Company mitigates credit risk through the completion of detailed and thorough monthly valuations for each of our projects. The value of works completed are accurately measured and payments agreed with both our professional client teams and our subcontractors with payments then made/received in accordance with contracted timescales. The Directors consider this to be an essential risk management process.

Individual project reviews are completed on a regular basis to monitor project performance and profitability with corrective action taken by the Directors as required.

The Company employ strict internal control procedures with clearly allocated responsibilities and segregation of key duties. Regular financial reconciliation and reporting is completed on all aspects of the business to ensure compliance and to monitor ongoing performance.

Bonds and other forms of security are obtained from clients and subcontractors alike in circumstances where the Directors consider it to be necessary.


DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Report of the Directors
for the year ended 31 December 2023

Statement of directors' responsibilities
The directors are responsible for preparing the 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

Auditors
The auditors, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr C K Miles - Director


13 September 2024

Report of the Independent Auditors to the Members of
Delcon Construction Limited


Opinion
We have audited the financial statements of Delcon Construction Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 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 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.

Report of the Independent Auditors to the Members of
Delcon Construction Limited


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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing else 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Delcon Construction Limited


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:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with
provisions of relevant laws and regulations described as having a direct effect on the financial statements.
- Enquiring of management concerning actual and potential litigation and claims.
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal
entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative
of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the
normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team
members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the
audit.
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 Report of the Auditors.

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 2006. Our 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 a Report of the Auditors 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.




Mr Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor
Marlborough House, 298 Regents Park Road
Finchley
London
N3 2SZ

16 September 2024

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Statement of Comprehensive
Income
for the year ended 31 December 2023

2023 2022
Notes £ £

Turnover 14,012,678 13,870,698

Cost of sales (12,171,546 ) (11,354,563 )
Gross profit 1,841,132 2,516,135

Administrative expenses (1,093,143 ) (1,246,221 )
747,989 1,269,914

Other operating income 56,267 -
Operating profit 5 804,256 1,269,914

Interest receivable and similar income 49,697 4,558
Profit before taxation 853,953 1,274,472

Tax on profit 7 (14,319 ) (164,998 )
Profit for the financial year 839,634 1,109,474

Other comprehensive income - -
Total comprehensive income for the year 839,634 1,109,474

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 9 16,388 16,847

Current assets
Debtors 10 2,223,267 2,221,927
Investments 11 2,119,040 2,119,040
Cash at bank and in hand 3,723,308 2,837,825
8,065,615 7,178,792
Creditors
Amounts falling due within one year 12 5,616,490 5,370,406
Net current assets 2,449,125 1,808,386
Total assets less current liabilities 2,465,513 1,825,233

Provisions for liabilities 14 4,097 3,201
Net assets 2,461,416 1,822,032

Capital and reserves
Called up share capital 15 193 193
Share premium 16 12,445 12,445
Capital redemption reserve 16 12 12
Retained earnings 16 2,448,766 1,809,382
Shareholders' funds 2,461,416 1,822,032

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:




Mr R J Williams - Director



Mr C K Miles - Director


DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Statement of Changes in Equity
for the year ended 31 December 2023

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£ £ £ £ £
Balance at 1 January 2022 193 1,649,909 12,445 12 1,662,559

Changes in equity
Dividends - (950,001 ) - - (950,001 )
Total comprehensive income - 1,109,474 - - 1,109,474
Balance at 31 December 2022 193 1,809,382 12,445 12 1,822,032

Changes in equity
Dividends - (200,250 ) - - (200,250 )
Total comprehensive income - 839,634 - - 839,634
Balance at 31 December 2023 193 2,448,766 12,445 12 2,461,416

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Delcon Construction Limited is a company limited by shares incorporated in the United Kingdom operating from University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX. Company Registered number: 02198767.

The presentation currency of the financial statements is the Pound Sterling (£).

The figures in the financial statements are rounded to the nearest £.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Key sources of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating accruals. Whilst every attempt is made to ensure that the accrual is as accurate as possible, there remains a risk that the accrual is not complete.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the total value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to stage of completion.

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 50% on cost
Fixtures and fittings - 20% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and compromise cash in hand and at bank which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Investments
Investments are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

3. Employees and directors
2023 2022
£ £
Wages and salaries 1,761,098 1,782,398
Social security costs 210,561 223,137
Other pension costs 46,846 49,552
2,018,505 2,055,087

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

Admin Staff 9 8
Site Staff 14 14
23 22

4. Directors' emoluments
2023 2022
£ £
Directors' remuneration 489,943 489,300
Directors' pension contributions to money purchase schemes 17,307 11,171

Information regarding the highest paid director is as follows:
2023 2022
£ £
Emoluments etc 156,650 155,150
Pension contributions to money purchase schemes 6,206 6,206

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Operating profit

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

2023 2022
£ £
Other operating leases 68,000 68,000
Depreciation - owned assets 10,005 10,916
Foreign exchange differences 39,421 (38,277 )

6. Auditors' remuneration
2023 2022
£ £
Fees payable to the company's auditors for the audit of the company's
financial statements

4,250

4,250

Auditors remuneration for for non-audit services for the year was £7,300 (2022: £2,800).

7. 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 37,803 163,195
Over provision in prior years (24,380 ) -
Total current tax 13,423 163,195

Deferred tax 896 1,803
Tax on profit 14,319 164,998

UK corporation tax has been charged at 25% (2022 - 19%).

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 853,953 1,274,472
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

213,488

242,150

Effects of:
Expenses not deductible for tax purposes 4,396 94,171
Capital allowances in excess of depreciation - (3,274 )
Depreciation in excess of capital allowances 115 -
Utilisation of tax losses (177,818 ) (169,852 )
Other adjustments (25,862 ) 1,803
Total tax charge 14,319 164,998

8. Dividends
2023 2022
£ £
B Ordinary shares of £1 each
Interim 200,250 950,001

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£ £ £
Cost
At 1 January 2023 6,234 184,988 191,222
Additions - 9,546 9,546
At 31 December 2023 6,234 194,534 200,768
Depreciation
At 1 January 2023 6,234 168,141 174,375
Charge for year - 10,005 10,005
At 31 December 2023 6,234 178,146 184,380
Net book value
At 31 December 2023 - 16,388 16,388
At 31 December 2022 - 16,847 16,847

10. Debtors
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 1,586,940 1,704,819
Amounts recoverable on contract 539,803 417,408
Other debtors 3,874 13,152
Prepayments and accrued income 72,250 66,148
2,202,867 2,201,527

Amounts falling due after more than one year:
Other debtors 20,400 20,400

Aggregate amounts 2,223,267 2,221,927

11. Current asset investments

2023 2022
£    £   
Other 2,119,040 2,119,040

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


12. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,269,297 898,189
Tax 37,927 163,195
Social security and other taxes 125,971 134,525
VAT 670,641 22,313
Other creditors 291,755 1,191,784
Accruals and deferred income 3,220,899 2,960,400
5,616,490 5,370,406

13. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 68,000 68,000
Between one and five years - 68,000
68,000 136,000

14. Provisions for liabilities
2023 2022
£ £
Deferred tax 4,097 3,201

Deferred tax
£
Balance at 1 January 2023 3,201
Provided during year 896
Balance at 31 December 2023 4,097

15. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 A Ordinary £1 100 100
45 B Ordinary £1 45 45
55 C Ordinary £1 48 48
193 193

DELCON CONSTRUCTION LIMITED (REGISTERED NUMBER: 02198767)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


16. Reserves
Capital
Retained Share redemption
earnings premium reserve Totals
£ £ £ £

At 1 January 2023 1,809,382 12,445 12 1,821,839
Profit for the year 839,634 - - 839,634
Dividends (200,250 ) - - (200,250 )
At 31 December 2023 2,448,766 12,445 12 2,461,223

17. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £46,846 (2022: £49,552 ).

18. Related party disclosures

The company has taken advantage of exemption not to disclose related party transactions with wholly owned subsidiaries within the group.

19. Ultimate parent company

Delcon Holdings Limited is regarded by the directors as being the ultimate parent company at the balance sheet date.