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REGISTERED NUMBER: 02043581 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BEARDWELL CONSTRUCTION LIMITED

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


BEARDWELL CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A C Larn
D R Clark
P A Beardwell
J S Beardwell





SECRETARY: S C Beardwell





REGISTERED OFFICE: Beacon House
Threshelfords Business Park
Inworth Road
Feering, Colchester
Essex
CO5 9SE





REGISTERED NUMBER: 02043581 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

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
It is pleasing to report that some of the pressures that the construction industry has experienced recently, including cost inflation and shortage of capacity, have abated considerably over the past year. Prices appear to have stabilised and whilst demand for construction has reduced this has led to capacity within the supply chain.

The company has seen a substantial increase in turnover of 44.61% on the prior year. The gross profit margin has increased to 11.66% from 8.65% last year.
The directors consider this to be an exceptional year. Sales have been driven by an increased workload on existing frameworks and several notable refurbishment projects which have been undertaken during the year. The easing of inflationary pressures and increased sales have resulted in a markedly improved cashflow over the period.

The directors consider our financial strength demonstrated by a lack of any borrowings and our strong balance sheet provides confidence for our clients to continue to place their trust in our business.

The directors have considered the implications for the company of the general economy, our clients financial spending plans and the recent change in government. We believe that our traditional market sectors of education, health and public works will continue to provide us with sufficient opportunities but we have also targeted new blue-chip clients in the pharmaceutical and commercial sectors where we are able to use our expertise in refurbishment. These have presented several opportunities which we anticipate will be converted during the year ending March 2025.

The directors believe that whilst the next financial year will be a period of consolidation as markets tighten, they are confident for the future and believe the company can continue to grow its revenue and profits.

ENVIRONMENTAL IMPACT
The company is committed to managing our environmental impact and to reducing our production of greenhouse gases. The main impacts from our business arise from the operation of our vehicles, offices and through business travel. We measure and publish our Scope 1, 2 and 3 emissions in accordance with our carbon reduction plan. This is published on our website. We recognise that emissions will increase with greater business activity but have a strategy to deal with these and to continue our journey to achieve net zero carbon emissions by 2045.


BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The directors continually review our business environment to identify new risks to the company alongside any significant changes to existing risks. Action is taken where appropriate to respond to any changes.

The principal risks for this year are therefore associated with the quality and volume of opportunities coming to market, the budgetary constraints for these projects and the continuing skills shortage. The directors recognise these risks and have in place a strategy to target work with clients outside of the public sector, invest in technology and to develop our people and supply chain. This will ensure that we are best placed to receive and deliver opportunities.

ON BEHALF OF THE BOARD:




P A Beardwell - Director


15 October 2024

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

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 building contractors.

DIVIDENDS
The total dividends distributed during the year totalled £925,000.

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

A C Larn
D R Clark
P A Beardwell
J S Beardwell

POLITICAL DONATIONS AND EXPENDITURE
All donations in the period related to charitable causes.

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;
-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.

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P A Beardwell - Director


15 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BEARDWELL CONSTRUCTION LIMITED

Opinion
We have audited the financial statements of Beardwell Construction Limited (the 'company') for the year ended 31 March 2024 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BEARDWELL 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 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
BEARDWELL 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:

Prior to engagement the following audit procedures are considered:
- Identification of laws and regulations being significant in the context of the entity;
- Understanding the entity's current activities, the scope of its authorisation and the effectiveness of its control environment where the entity is a regulated entity;
- Determining any key audit matters that require further explanation;
- In the case of a group, how the auditor addressed these matters at both at the group and component levels;
- communications with the engagement team and, where relevant, component auditors regarding
non-compliance with laws and regulations and fraud.

Audit procedures performed by the engagement team to detect irregularities, including fraud from instances of non-compliance with laws and regulations included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
- Reading key correspondence from regulatory bodies;
- Challenging assumptions and judgements made by management in it's significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We focused on the valuation of provisions against AMROC, debtors and accruals, and the assessment of impairment of intangible and tangible assets;
- Consideration of recent correspondence with the companies legal advisors to ensure that it aligned with the conclusions drawn on obligations recognised in respect of uncertain legal matters;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations or those posted by unexpected users; and
- Testing all material consolidation adjustments to ensure these were appropriate in nature and magnitude;
- Communicating with component auditors any matters which arise, and disclosing any instances of
non-compliance or fraud, in addition to testing inter-group transactions and amounts owed by/(to) any group companies;
- Reviewing relevant meeting minutes including those of the board of directors
- Testing transactions entered into that are outside of the normal course of the Company's business

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards), and from inspection of the group's regulatory and legal correspondence and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit.

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
BEARDWELL CONSTRUCTION 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.




Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

15 October 2024

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 35,672,798 24,668,365

Cost of sales (31,513,628 ) (22,534,035 )
GROSS PROFIT 4,159,170 2,134,330

Administrative expenses (2,795,763 ) (1,666,748 )
1,363,407 467,582

Other operating income 14,159 11,978
Gain/loss on revaluation of investments (12,238 ) 11,180
OPERATING PROFIT 5 1,365,328 490,740

Interest receivable and similar income 102,080 4,770
PROFIT BEFORE TAXATION 1,467,408 495,510

Tax on profit 6 (366,003 ) (128,041 )
PROFIT FOR THE FINANCIAL YEAR 1,101,405 367,469

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,101,405

367,469

** PLEASE COMPLETE CLIENT SCREEN - OTHER COMPREHENSIVE INCOME. THERE HAS BEEN REVALUATION IN CURRENT YEAR FOR FIXED ASSET INVESTMENTS WHICH SHOULD BE REPORTED ON THIS SCREEN

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 8 1,118,798 1,160,498
Investments 9 - 472,665
1,118,798 1,633,163

CURRENT ASSETS
Stocks 10 11,300 11,300
Debtors 11 4,171,898 2,798,816
Cash at bank and in hand 6,680,349 1,629,143
10,863,547 4,439,259
CREDITORS
Amounts falling due within one year 12 (10,435,432 ) (4,690,997 )
NET CURRENT ASSETS/(LIABILITIES) 428,115 (251,738 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,546,913

1,381,425

PROVISIONS FOR LIABILITIES 13 (39,065 ) (49,982 )
NET ASSETS 1,507,848 1,331,443

CAPITAL AND RESERVES
Called up share capital 14 100 100
Capital redemption reserve 15 1 1
Retained earnings 15 1,507,747 1,331,342
SHAREHOLDERS' FUNDS 1,507,848 1,331,443

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





P A Beardwell - Director


BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 100 1,276,437 1 1,276,538

Changes in equity
Dividends - (312,564 ) - (312,564 )
Total comprehensive income - 367,469 - 367,469
Balance at 31 March 2023 100 1,331,342 1 1,331,443

Changes in equity
Dividends - (925,000 ) - (925,000 )
Total comprehensive income - 1,101,405 - 1,101,405
Balance at 31 March 2024 100 1,507,747 1 1,507,848

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Beardwell Construction 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 as modified by the revaluation of certain assets.

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.

The financial statements of Beardwell Construction Ltd are consolidated in the financial statements of its parent company, Beardwell Holdings Ltd.

Turnover
Contract revenues and expenses are recognised by reference to the stage of completion of contract activity where the outcome of the construction contract can be estimated reliably, otherwise revenue is recognised only to the extent of recoverable contract costs incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Furniture and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,218,923 2,194,085
Social security costs 396,301 254,303
Other pension costs 91,591 86,939
3,706,815 2,535,327

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

Direct 27 26
Admin 10 10
Directors 3 3
40 39

2024 2023
£    £   
Directors' remuneration 1,466,574 550,816

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 589,643 268,271

5. OPERATING PROFIT

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

2024 2023
£    £   
Depreciation - owned assets 66,202 76,348
Profit on disposal of fixed assets (1,167 ) -
Auditors' remuneration 15,000 14,000

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 376,920 123,220

Deferred tax (10,917 ) 4,821
Tax on profit 366,003 128,041

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 1,467,408 495,510
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

366,852

94,147

Effects of:
Expenses not deductible for tax purposes 4,438 1,535
Income not taxable for tax purposes - (906 )
Depreciation in excess of capital allowances 9,429 5,589
Deferred tax (10,917 ) 4,821

Increase/decrease in value of investments (3,799 ) 3,855
General defect provision adjustment - 19,000
adjustment
Total tax charge 366,003 128,041

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Final 925,000 312,564

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. TANGIBLE FIXED ASSETS
Furniture
Long and Motor
leasehold equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,038,305 269,378 161,518 1,469,201
Additions - 8,170 17,665 25,835
Disposals - - (9,995 ) (9,995 )
At 31 March 2024 1,038,305 277,548 169,188 1,485,041
DEPRECIATION
At 1 April 2023 55,070 172,349 81,284 308,703
Charge for year 20,696 25,078 20,428 66,202
Eliminated on disposal - - (8,662 ) (8,662 )
At 31 March 2024 75,766 197,427 93,050 366,243
NET BOOK VALUE
At 31 March 2024 962,539 80,121 76,138 1,118,798
At 31 March 2023 983,235 97,029 80,234 1,160,498

9. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
At 1 April 2023 472,665
Additions 77,553
Disposals (532,063 )
Revaluations (18,155 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 472,665

Cost or valuation at 31 March 2024 is represented by:

Unlisted
investments
£   
Valuation in 2022 11,485
Valuation in 2023 12,007
23,492

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. STOCKS
2024 2023
£    £   
Stocks 11,300 11,300

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,801,862 1,873,468
Amounts recoverable on contract 1,325,608 887,664
Other debtors 9,230 5,230
Prepayments 35,198 32,454
4,171,898 2,798,816

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,250,464 1,657,927
Amounts owed to group undertakings 538,950 246,423
Tax 376,920 123,220
Social security and other taxes 275,282 75,635
VAT 390,995 340,112
Directors' current accounts 171,252 78,143
Accrued expenses 6,431,569 2,169,537
10,435,432 4,690,997

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 39,065 49,982

Deferred
tax
£   
Balance at 1 April 2023 49,982
Provided during year (10,917 )
Balance at 31 March 2024 39,065

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

BEARDWELL CONSTRUCTION LIMITED (REGISTERED NUMBER: 02043581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 1,331,342 1 1,331,343
Profit for the year 1,101,405 1,101,405
Dividends (925,000 ) (925,000 )
At 31 March 2024 1,507,747 1 1,507,748

16. RELATED PARTY DISCLOSURES

During the year the company paid management charges of £267,150 (2023: £120,000) to its parent company Beardwell Holdings Limited. At the year end there was a balance due to Beardwell Holdings Limited of £538,950 (2023: due to Beardwell Holdings Ltd £246,423).