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REGISTERED NUMBER: 00983459 (England and Wales)










Jones Bros. Ruthin (Civil Engineering)
Co. Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024






Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 9

Report of the Independent Auditors 11

Statement of Comprehensive Income 14

Balance Sheet 15

Statement of Changes in Equity 16

Cash Flow Statement 17

Notes to the Cash Flow Statement 18

Notes to the Financial Statements 19


Jones Bros. Ruthin (Civil Engineering)
Co. Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr H G Jones
Mr J P Dielhof
Mrs C A Johnson
Mrs H M L Morgan
Mr E Roberts
Mr G W Thomas
Mr H Lloyd-Davies
Mr G Evans
Mrs C J Griffiths





SECRETARY: Mrs H M L Morgan





REGISTERED OFFICE: Ty Glyn
Canol y Dre
Ruthin
Denbighshire
LL15 1QW





REGISTERED NUMBER: 00983459 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.



REVIEW OF BUSINESS
Jones Bros Ruthin (Civil Engineering) Co Limited is a family business, founded in the 1950s, with its roots in heavy plant. The Company's head office is located in Ruthin, North Wales and the Company directly employs more than 450 staff and operatives. A key part of our success is our collaborative approach and established rapport with clients and businesses. With the provision of vast in-house resources of the Group, dedicated staff, and an award-winning apprenticeship scheme, the Company provides clients with the confidence and certainty that projects will be delivered to the highest professional standards.

MARKETS
The Company operates in the following key sectors:
- Highways, Rail and Infrastructure
- Energy and Renewables
- Coastal Defence and Marine Infrastructure
- Waste Management Facilities & Landfill Engineering
- Concrete Production, Soil Stabilisation, Quarrying & Aggregate Production

Support Services:
- Plant Hire
- Training Department


BUSINESS REVIEW
The Company has undertaken many projects across the UK. This year has seen the start of construction on the North Kyle Wind Farm, a 49-turbine project in East Ayrshire which will have the capacity to power more than 160,000 households. The project also required the construction of site access and approximately 39km of site tracks to allow the transport of 49 wind turbine assemblies.

The Company is a market leader in delivering onshore wind farms and has constructed over 1800MW of infrastructure and built over 700 turbine foundations. The Company has successfully transferred these skills to onshore connections for offshore wind farms and tidal energy projects.

The Morlais Onshore Electrical Connection Package project was a design and build contract to deliver onshore infrastructure works for the tidal energy project at Holyhead on the Isle of Anglesey. The development involves the placing of turbines on the seabed or within the underwater environment to capture tidal energy. The onshore works will connect the nine developers' tidal energy circuits to the grid. The Project further involves the design and construction of a new 132kV landfall substation and 6.5km of underground ducting and 132kV cabling and its connection. Once fully completed, the tidal stream project will generate 240MW.

The Company has seen exciting new ventures into battery energy storage schemes. This has included the completion of the Shilton Lane Battery Storage facility, the Thurrock Section C Shared Infrastructure Project, involving the enabling works for a battery storage compound, and the design and construction of a 240MW Battery Energy Storage Solution at Uskmouth.

This year has seen the continuing development of the Havant Thicket Reservoir in a joint venture as Future Water MJJV Limited. This flagship project is a design and construction contract to deliver a new reservoir inclusive of earthworks, rip rap, temporary site drainage and access roads. Once completed in 2029, the reservoir will hold approximately 8.7 billion litres of water and the capacity to supply up to 21 million litres of water each day. It will be one mile from east to west, half a mile from north to south, with a new wetland on its northern shore, and is being built on a 160-hectare grassland site.

The Company has a long history of delivering Coastal Defence and Marine Infrastructure across the UK and this year saw the completion of the Penrhyn Bay Coastal Defence Scheme. The works involved shoreside improvements to reduce beach corrosion and minimise the impact of extreme weather conditions and associated flooding.

Frameworks are in place with the leading waste management companies and there were many projects including landfill cells and capping which were delivered in the year under these contracts.

The subsidiary company, Cambrian Services Limited provides specialist concrete production, soil stabilisation, quarrying & aggregate production services to the wider business. In addition, the business has considerable experience in planning and carrying out surfacing works with the in-house specialist surfacing division.



Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024



FINACIAL PERFORMANCE


The statement of Comprehensive Income is set out on page 14.

The Company's turnover increased to £155.7m (2023: £105.7m) with an operating profit margin of 4.6% (2023: 4.2%) and profit before taxation was £7.2m (2023: £4.5m).

The Company balance sheet continued to strengthen with net assets of £18.8m (2023: £16.6m) and cash increasing to £21.3m (2023: £16.7m).

The Company does not have any debt servicing requirements and has cash balances to absorb any short-term working capital or other funding requirements. The Company has a strong order book and expects to continue to be profitable and cash generative for the next twelve months.

The Company's directors consider various key performance indicators on a frequent basis. These include turnover, operating profit, average number of employees and net assets.

2024£'000 2023£'000 Movement%
Turnover 155,711 105,691 47
Operating profit 7,182 4,453 61
Average headcount 456 439 3
Net assets 18,861 16,679 13




Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024

RISKS AND UNCERTAINTIES
The Company operates in a competitive trading environment and faces risk and challenges as it delivers its projects. In order to mitigate the various challenges, the management team meet regularly to review activities and the Company continues to develop the support infrastructure for the business to support the growth of demand for its services. Key areas of focus include:

Skilled Labour Shortage and Resource Planning- There is strong competition for skilled plant operators across various sectors, including construction, infrastructure projects, and other industries requiring heavy machinery operation. As one of the UK's first independent Modern Apprenticeship providers, the Company has a proven track record in securing apprenticeship opportunities on projects and the apprenticeship scheme has produced nearly 50 per cent of the current workforce. Over the last three years the Company has recruited more than seventy apprentices.

The Company provides high-quality, accredited training from its in-house training centre located in Denbigh, North Wales. The experienced training team offers specialised plant and machinery training to trainee operatives, adhering to accredited Construction Plant Competence Scheme (CPCS) standards, with the opportunity to complete an NVQ Level 2 in Plant Operations.

An in-house development of software to assist the planning and forecast process for plant and labour resources has been implemented. This software, which is regularly populated with real time information from the management system, assists in the visibility of plant and skilled labour requirements to ensure optimal use of resources, make strategic plant purchases and plan labour resources.

Changing technology - The integrated quality management and document system including business and commercial management tools are well established in the company and are continually being enhanced to adapt to business needs, technology and regulatory changes.

Significant investment has been made in a modern plant fleet with latest technology and significant development has happened in the area of mobile and digital working in the last year with roll out of cutting edge IT hardware and software to the sites which offers the project teams and clients the systems and secure connections to work in remote environments using mobile technology.

Environmental Sustainability - the Company is part of the Group's Energy Steering Group who set the strategy to minimise the Group's carbon footprint across all operations and who monitor the Group's performance. The Group is dedicated to being an industry leader in environmental stewardship, with a strong commitment to achieving the Group's net zero goals.

Quality Control, Health and Safety - A team is committed to developing tools that simplify and streamline the planning and execution of quality assurance for engineering works. This involves liaising, collaborating, and communicating effectively with various departments within the Group. The team also focuses on training and implementing these processes across the organisation. To ensure ongoing compliance, they conduct internal audits continually throughout the year, reinforcing adherence to the established processes.

Treasury Risks - The Company mainly finances its activities through cash balances generated from retained earnings. Other financial assets and liabilities, such as trade debtors and trade creditors, arise directly from the Company's operating activities. The Company does not trade in financial instruments or financial derivatives. The Company's exposure to foreign currency risk is not significant. When materials imported are of significant value steps are taken to mitigate foreign exchange risk.

The Company considers its financial robustness, performance and liquidity and has risk management processes in place. Financial performance is regularly reviewed at the Board Meetings. Meetings are also held with financial institutions and information is regularly shared.

The main risks associated with the Company's financial assets and liabilities are set out below, together with the policies adopted by the board for their management:

Interest Rate Risk
The Company has no external financial borrowings. As interest rates rise the Company is able to put cash on short term deposit.

Credit Risk
The Board's objective is to actively manage the risk of financial loss due on counter party's failure to honour its obligations. Standard payment terms for civil engineering contracts provide for regular monthly payments against the full contract value. The credit worthiness of new customers is assessed before a contract is entered into. In addition, the Company has a credit insurance policy in place to help mitigate any significant losses arising from debtors defaulting.



Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024


Inflation Risk
The Company monitors and managers inflation risk and although it could be a significant risk on input costs, generally, fuel price escalation and specific material indexation clauses are built into the terms or negotiated on many of our contracts to ensure this is managed effectively going forward.

SECTION 172(1) STATEMENT
The Directors confirm that they are compliant with Section 172 of the Companies Act 2006, that is, duty to promote the success of the Company for the benefit of all members as a whole. In doing so the Directors have regard, amongst other matters, for the following:
i) The likely consequences of decision making in the long term
ii) The need to foster relationships with suppliers, customers and others
iii) The impact of company operations on the community and the environment
iv) Engagement with and regard to the interests of employees (impact of decision making)
v) Reputation for high standards of business conduct
vi) Acting fairly between members of the Company

The Board has taken action to promote and support these objectives. There are regular Board meetings with Company Directors and the Business owner with an agenda including items to promote the success of the Company and supporting Board papers.

Employees are key to the success of Jones Bros and is discussed further below.

The Company has many supply chain partners and seeks to have robust and clear procurement process with sharing of key information on terms and conditions, standards required and contractual terms. A decentralised procurement process allows increased direct engagement with the project teams and supply chain and there are relationship meetings and dialogue with key strategic supply chain partners and updates on the website. The Company is committed to paying supply chain partners on time and publishes payment practice reports The average time to pay invoices was 24 days.

Strong customer relationships are key to the business. Pre qualification information and collaborative discussions of client requirements are important for establishing project requirements and contractual terms. Regular progress meetings, reporting and on site engagement occur.

The Company is passionate about playing an active role in local communities and leaving a lasting legacy that is beneficial to all. There are many ways in which the Company engages with communities including involving local residents in our projects, supporting local schools, fostering future talent, sponsorship and financial support and contributing to the growth of local economies.

The Company works with various industry and regulatory bodies to participate in the strategy and approach to managing compliance risk, best practice and collaborate on the issues and challenges facing the industry. The Company is an active member on several industry bodies including CECA, CBI and Renewables UK and attends and contributes to meetings and consultations.





KEY STAKEHOLDER ENGAGEMENT
In addition to the stakeholders identified explicitly in S172(1) the Company also consider the following as key to the business:
i. Subcontractors and agency supply chain providers
ii. Local communities, both in North Wales where the company is head quartered and communities across
the UK where its projects are based
iii. Government & regulatory bodies particularly relevant to the Company's operations including environmental
regulatory bodies (NRW, SEPA, EA), health & safety (Health & Safety Executive) and taxation (HM
Revenue & Customs)
iv. The industry as a whole
v. Financial institutions including banks, performance security providers and insurers

The Company is a family owned inter-generational business, therefore taking a long term view that considers the interests of the wider group of stakeholders underpins its approach. In 2023, eight new directors, including three family members, were appointed to the Board of the Company. Many of these new directors have extensive experience and bring valuable expertise to the Board.


Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024

KEY DECISIONS AND STRATEGIES IN THE YEAR
There have been no significant changes to Company strategy and approach during the period, with continued progression with the established plan. The Company has maintained early and open communications with members, employees, clients, suppliers, industry and financial institutions.

After the year end, a new company was incorporated in Australia to explore opportunities in the region.

QUALITY, HEALTH, SAFETY AND THE ENVIRONMENT
We operate an Integrated Business Quality Management System that includes Quality, Environmental and Health and Safety. The Quality Management System is continually audited and improvements made where required. The system is accredited to the following international and UK standards:
-Construction Health and Safety Management System certified to ISO 45001
-Environmental Management System certified to BS EN ISO 14001
-Quality Management System certified to BS EN ISO 9001
-Energy Management System certified to BS EN ISO 50001

The Company was awarded the Royal Society for the Prevention of Accidents (RoSPA) Gold Award for the 16th consecutive year for health and safety performance. Due to achieving the award for 16 consecutive years, the Company was honoured with the Order of Distinction Award.

EMPLOYMENT POLICY
The Company has continued to reinvest in staff, plant and technology to drive efficient processes. During the year the average size of the Company's direct work force increased by 3% to 456 (439 in 2023), with an increase in the use of a short-term skilled workforce during the busier summer season for shorter periods of employment. This approach allows the Company to build a highly skilled, flexible team across all disciplines, with a focus on upskilling the operative workforce to operate a variety of plant machinery to a high level of competency and using the in-house accredited training centre.

The Company has maintained an award-winning apprenticeship scheme for over a decade, which has successfully contributed to the development of nearly 50% of the current workforce. This initiative has been instrumental in fostering internal talent and supporting the Company's growth.

The Company prioritises the wellbeing and health of its staff, providing support to our dedicated staff and is a proud sponsors of Mates in Mind. The Company boasts strong staff retention rates, with numerous employees having committed to the company for many years and this longevity reflects the Company's commitment to career development, training and the ongoing professional progression of its employees.

Communication and consultation with employees is a fundamental aspect of the Company's operations. Any changes made to policies or procedures are communicated to all staff through multiple channels including face to face consultation meetings, email, SMS texts, bulletins, newsletters, a Joint Consultation Committee, site visits and daily briefings.

The Company is committed to providing equal opportunities to all existing and potential employees. It is supportive of the employment and advancement of disabled and disadvantaged persons. Employees who may become disabled are, wherever possible, supported with appropriate training and equipment so that they can continue their employment within the Company.

The Directors of the Company extend their gratitude and thanks to all Jones Bros employees for their loyalty, dedication, and hard work. These efforts have been crucial to the ongoing success and growth of the business.


Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024

STREAMLINED ENERGY AND CARBON REPORTING (SECR)
Jones Bros Ruthin Co Limited discloses energy, carbon and related data for the Group aligned to the UK Government Streamlined Energy and Carbon Reporting Requirements ("SECR") and produces an Annual Energy Review in line with the requirements of the ISO 50001:2018 standard to which we are accredited. The review identifies all required energy sources, evaluates figures for energy consumption and identifies opportunities for efficiencies that can be made through changes to plant, equipment and procedures.

Group Energy Use by Area
Gas oil used by Mobile & Static Plant 89.8%
Fuel Used by Road Vehicles 9.8%
Mains Electricity at Company Offices 0.4%


Key Energy Efficiency Actions
- Energy Steering Group established who set the strategy and meet regularly to review the Group's performance.
- Use of energy management technology to better manage fuel across the business.
- Weekly plant telemetry data circulated around the business to help highlight inefficient operations.
- Increased the number of Hybrid Plant across the fleet.
- Internally developed Hybrid Generators rolled out at sites.
- Exploring alternative fuels and power train technology.

The introduction of Energy Champions at the Group's permanent office locations and all sites has been instrumental in ensuring site-specific carbon information is captured consistently.

The Group will continue to explore sustainable alternatives and ways to enhance surrounding environments, whilst upholding the principles of sustainability. Innovation is at the forefront of the business and the Group is dedicated to environmental progress and sustainable advancements in all areas.

Group Energy Consumption
The GHG Protocol Corporate Standard classifies a company's GHG emissions into three 'scopes'. Scope 1 emissions are direct emissions from owned or controlled sources. Scope 2 emissions are indirect emissions from the generation of purchased energy. Scope 3 is not applicable to the Group.

Using Conversion Factors as detailed below in the government 'Greenhouse Gas Reporting: Conversion Factors 2023' document to calculate our CO2e emissions, we calculate 18,373 tonnes of carbon as our annual output.

Greenhouse gas reporting: conversion factors 2023 - GOV.UK (www.gov.uk)

The 2023-24 summary calculations are listed in the table below.


Emissions Source Unit Total
units
Conversion
Factor
KG of CO2e % of Total
Mobile and Static Plant - Gas Oil litres 6,202,890 2.66000 16,499,687.40 89.802
Fuel Company Road Vehicles-DERV litres 642,112 2.51000 1,611,701.12 8.772
Fuel - Personal Business Mileage miles 727,412 0.27000 196,401.24 1.069
18,307,789.76 99.643
Mains Electricity Consumption (All
sites)
kw/h 256,997 0.25560 65,688.43 0.357
65,688.43 0.357
18,373,478.19 100

Jones Bros Carbon Output
The total Carbon Output of the Group equates to 18,373 tonnes of CO2e for the financial year 2023/24. Against Group annual turnover of £166 million this equates to 110.65 tonnes of carbon per £million of turnover for 2023/24. This is our Energy Performance Indicator (EPI) for Group and shows an 11% improvement from 2022/23's figure of 124.35 tonnes of carbon per £million of turnover and a cumulative 28.4% improvement/reduction in our EPI over the last four years.


Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Strategic Report
for the year ended 31 March 2024

FUTURE DEVELOPMENTS
During 2024/25 and future years, the Company looks forward to continuing to focus on securing civil engineering contracts and frameworks which optimise the use of both the expertise of its skilled workforce and the Group's extensive modern fleet of large plant.

It is intent on continuing to maintain a balanced portfolio of work types across many clients, managing risk, focusing on creating sustainable solutions and opportunities to optimise technology and AI to drive productivity, and continuing to be a proven and reliable partner to Clients and to deliver projects to a high professional standard.

ON BEHALF OF THE BOARD:





Mr H G Jones - Director


26 September 2024

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Report of the Directors
for the year ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of civil engineering.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 5,000,000 .

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

Mr H G Jones
Mr J P Dielhof

Other changes in directors holding office are as follows:

Mrs C A Johnson - appointed 6 April 2023
Mrs H M L Morgan - appointed 6 April 2023
Mr E Roberts - appointed 20 April 2023
Mr G W Thomas - appointed 20 April 2023
Mr H Lloyd-Davies - appointed 20 April 2023
Mr G Evans - appointed 20 April 2023
Mrs C J Griffiths - appointed 29 November 2023

POLITICAL DONATIONS AND EXPENDITURE
During the year, charitable donations totalling £20,540 (2023: £9,740) were made.

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). 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;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Report of the Directors
for the year ended 31 March 2024


AUDITORS
The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr H G Jones - Director


26 September 2024

Report of the Independent Auditors to the Members of
Jones Bros. Ruthin (Civil Engineering)
Co. Limited

Opinion
We have audited the financial statements of Jones Bros. Ruthin (Civil Engineering) Co. Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 2024 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.

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 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.

Report of the Independent Auditors to the Members of
Jones Bros. Ruthin (Civil Engineering)
Co. Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page nine, 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.

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:

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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We accessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;
- Obtain an understanding of the internal controls that management have in place to prevent and detect fraud;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;
- Identifying and testing journal entries, in particular manual or unusual entries;
- Obtaining third party confirmations of all the companies banking arrangements;
- Performing analytical procedures to identify any unusual or unexpected relationships;
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.
The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagements team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

Report of the Independent Auditors to the Members of
Jones Bros. Ruthin (Civil Engineering)
Co. Limited


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.




Jason Matischok (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

26 September 2024

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Statement of Comprehensive
Income
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 3 155,711,215 105,691,398

Cost of sales (139,921,547 ) (96,386,794 )
GROSS PROFIT 15,789,668 9,304,604

Administrative expenses (8,615,390 ) (4,851,292 )
7,174,278 4,453,312

Administration recharge 8,307 -
OPERATING PROFIT 5 7,182,585 4,453,312

Interest receivable and similar income - 16,826
PROFIT BEFORE TAXATION 7,182,585 4,470,138

Tax on profit 6 - -
PROFIT FOR THE FINANCIAL YEAR 7,182,585 4,470,138

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

7,182,585

4,470,138

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Investments 9 1,000 1,000
1,000 1,000

CURRENT ASSETS
Debtors 10 32,561,238 22,544,918
Cash at bank 21,387,450 16,484,496
53,948,688 39,029,414
CREDITORS
Amounts falling due within one year 11 35,087,904 22,351,215
NET CURRENT ASSETS 18,860,784 16,678,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,861,784

16,679,199

CAPITAL AND RESERVES
Called up share capital 13 32 32
Retained earnings 14 18,861,752 16,679,167
SHAREHOLDERS' FUNDS 18,861,784 16,679,199

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr H G Jones - Director


Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Statement of Changes in Equity
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 32 16,209,029 16,209,061

Changes in equity
Dividends - (4,000,000 ) (4,000,000 )
Total comprehensive income - 4,470,138 4,470,138
Balance at 31 March 2023 32 16,679,167 16,679,199

Changes in equity
Dividends - (5,000,000 ) (5,000,000 )
Total comprehensive income - 7,182,585 7,182,585
Balance at 31 March 2024 32 18,861,752 18,861,784

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Cash Flow Statement
for the year ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 9,896,393 1,277,777
Tax paid 6,561 433,670
Net cash from operating activities 9,902,954 1,711,447

Cash flows from investing activities
Purchase of fixed asset investments - (950 )
Interest received - 16,826
Net cash from investing activities - 15,876

Cash flows from financing activities
Equity dividends paid (5,000,000 ) (4,000,000 )
Net cash from financing activities (5,000,000 ) (4,000,000 )

Increase/(decrease) in cash and cash equivalents 4,902,954 (2,272,677 )
Cash and cash equivalents at beginning
of year

2

16,484,496

18,757,173

Cash and cash equivalents at end of year 2 21,387,450 16,484,496

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Cash Flow Statement
for the year ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 7,182,585 4,470,138
Amounts owed by group undertakings (7,029,172 ) 526,602
Finance income - (16,826 )
153,413 4,979,914
Increase in trade and other debtors (2,987,148 ) (501,778 )
Increase/(decrease) in trade and other creditors 12,730,128 (3,200,359 )
Cash generated from operations 9,896,393 1,277,777

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 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 21,387,450 16,484,496
Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 16,484,496 18,757,173


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank 16,484,496 4,902,954 21,387,450
16,484,496 4,902,954 21,387,450
Total 16,484,496 4,902,954 21,387,450

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Jones Bros. Ruthin (Civil Engineering) Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amount in these financial statements are rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate are recognised in the period which the estimate is revised where revision affects only that period, or in the period of the revisions and future periods where the revision affects both current and future periods.

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, derived from the principal activity, is calculated on the basis of the value of work executed during the period, including retentions.

Intangible assets
Intangible assets relating to computer software are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged over two years from when the asset is brought into use.

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.

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.

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Long-term contracts
Profit on long-term contracts is recognised as the work is carried out if the financial outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related contract costs as contract activity progress.

Contract costs are recognised as the higher of actual cost to date or costs as a proportion of final costs, using the reference of turnover to date as a proportion of final turnover.

Revenue derived from variations on contracts are recognised only when they have been accepted by the customer.

Full provision is made for losses on all contracts in the year in which they are first foreseen.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Employee benefits
Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Joint arrangements
The company undertakes a number of business activities through joint arrangements. Joint arrangements exist when two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

The company's joint arrangements are joint operations.

Joint operations are joint arrangements on which parties with joint control have rights to the assets and obligations for the liabilities relating to the arrangement. The activities of a joint operation are primarily designed for the provision of output to the parties to the arrangement indicating that:
- The parties have the rights to substantially all the economic benefits of the assets of the arrangement;

-
All liabilities are satisfied by the joint participants through their purchases of that output. This indicates,
in substance, the joint participants have an obligation for the liabilities of the arrangement.

The financial statements of the Company include its share of the assets in joint operations, together with its share of the liabilities, revenues and expenses arising jointly or otherwise from those operations and its revenue derived from the sale of its share of the output from the joint operation. All such amounts are measured in accordance with the terms of each arrangement, which are usually in proportion the Company's interest in the joint operation.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

All turnover arose within the United Kingdom.

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 23,528,075 19,412,456
Social security costs 2,600,415 2,134,485
Other pension costs 389,037 335,513
26,517,527 21,882,454

The average number of employees during the year was as follows:
2024 2023

Management and technical 161 144
Administration 35 43
Plant operators and site workers 260 252
456 439

Key Management
Total remuneration paid to key management (excluding directors) amounted to:

20242023
£   £   
Emoluments-846,336
Pension contributions-6,276
Total-852,612

Key management were included in the director appointments in the year.

Directors Emoluments

2024 2023
£    £   
Emoluments 2,442,136 389,548
Pension contributions 10,570 1,321
Total 2,452,706 390,869

Information regarding the highest paid director is as follows:

2024 2023
£    £   
Emoluments 655,466 389,548
Pension contributions 1,321 1,321
Total 656,788 390,869

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Auditors' remuneration 12,000 14,000
Auditors' remuneration for non audit work 3,500 5,692

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

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:

2024 2023
£    £   
Profit before tax 7,182,585 4,470,138
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

1,795,646

849,326

Effects of:
Expenses not deductible for tax purposes 22,029 26,903
Group relief (1,817,675 ) (876,229 )

Total tax charge - -

7. DIVIDENDS
2024 2023
£    £   
Interim 5,000,000 4,000,000

8. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 150,985
AMORTISATION
At 1 April 2023
and 31 March 2024 150,985
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

9. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 April 2023
and 31 March 2024 1,000
NET BOOK VALUE
At 31 March 2024 1,000
At 31 March 2023 1,000

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Future Water MJJV Limited
Registered office: Bankside House Henfield Road, Small Dole, Henfield, England, BN5 9XQ
Nature of business: Construction of Water Projects
%
Class of shares: holding
Ordinary 50.00

10. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 13,644,544 9,880,463
Amounts owed by group undertakings 11,034,265 4,005,092
Amounts recoverable on contract 3,070,419 2,131,294
Other debtors 3,840 -
Prepayments and accrued income 126,175 121,050
27,879,243 16,137,899

Amounts falling due after more than one year:
Trade Debtors 4,681,995 6,407,019

Aggregate amounts 32,561,238 22,544,918

The Jones Bros Ruthin Co Limited Group operates a group level treasury policy and combined banking facilities. Accordingly, Jones Bros Ruthin Co Limited holds cash balances on behalf of Jones Bros. Ruthin (Civil Engineering) Co Limited.

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,624,761 4,522,371
Provision on long-term contracts 16,510,654 11,661,381
Tax 1,938 (4,623 )
Social security and other taxes 2,105,239 1,392,263
VAT 613,779 230,304
Accrued expenses 8,231,533 4,447,045
Deferred income - 102,474
35,087,904 22,351,215

12. SECURED DEBTS

The company has given a Guarantee to its bankers in favour of Jones Bros Ruthin Co Limited (the ultimate parent company). Jones Bros Ruthin Co Limited has also given a Guarantee in favour of the Company. An Inter Company Guarantee has also been given by Jones Bros Ruthin Co Limited and Jones Bros. Ruthin (Civil Engineering) Co Limited. The Group has given a debenture to its bankers secured over all assets of the company.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
32 Ordinary £1 32 32

Jones Bros. Ruthin (Civil Engineering)
Co. Limited (Registered number: 00983459)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

14. RESERVES
Retained
earnings
£   

At 1 April 2023 16,679,167
Profit for the year 7,182,585
Dividends (5,000,000 )
At 31 March 2024 18,861,752

Retained earnings
The retained earnings reserve includes all current and prior period retained profits and losses, which remain available but are undistributed at the reporting date.

15. ULTIMATE PARENT COMPANY

Jones Bros Ruthin Co Limited is regarded by the directors as being the company's ultimate parent company.

The immediate and ultimate parent company is Jones Bros Ruthin Co Limited.

16. OFF-BALANCE SHEET ARRANGEMENTS

The company has no off-balance sheet arrangements.

17. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr H G Jones, who owns all the equity capital of Jones Bros Ruthin Co Limited.