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REGISTERED NUMBER: 03951818












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 7

Balance Sheet 8

Notes to the Financial Statements 9


DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: D H Danaher
S Danaher
S D McCallion





SECRETARY: S Danaher





REGISTERED OFFICE: 20 Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ





REGISTERED NUMBER: 03951818





AUDITORS: Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

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
The results for the year are set out in detail on page 7.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the end of the year. Our review is consistent with the size and nature of our business and is written in the context of our known risks and uncertainties. We consider that our key financial performance indicators, turnover and margins, are those that communicate the financial performance and strength of the company.

The company is a prominent small to medium sized contractor (SME) in the Midlands and has been established for over 55 years. It is an objective within our Business Plan to increase the share of turnover through frameworks, year on year. Frameworks provided 46% (2023: 49%) of turnover in the year.

PRINCIPAL RISKS AND UNCERTAINTIES
As for many businesses of our size, the trading climate remains challenging; however the company's sales pipeline is encouraging, reflecting the increased focus placed on business development activities in line with our strategic goals. The company makes little use of financial instruments other than an operational bank account and its trade is exclusively within the UK and transacted in UK sterling.

Price risk is minimized by fixing terms with suppliers and customers wherever possible. Credit risk is controlled by reviewing customers creditworthiness ahead of any engagement, negotiating best payment terms and ensuring credit insurance is in place. Liquidity and cashflow risk are managed by continuous cashflow forecasting along with the management of terms with both suppliers and customers.

FINANCIAL KEY PERFORMANCE INDICATORS
Although this years financial results show an improvement on the prior year, they reflect another difficult trading year for the company, mainly due to unsatisfactory outcomes on a small number of legacy projects which have had an adverse impact on this years gross margin.

Overall, turnover increased by 11.6% to £30.8m, up from £27.6m in the prior year. The gross margin also increased, by 2.12% from 6.68% to 8.8%. The company made a net profit of £4.3k before tax as compared to a net loss of £0.5m in the previous year.

The company has a strong pipeline of work for the coming year. Our Business Plan has a focus on winning and delivering work through frameworks and increasing our efficiencies in order to grow turnover and margin in a highly competitive market.

ON BEHALF OF THE BOARD:





D H Danaher - Director


28 November 2024

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

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
There were no interim dividends paid in the year to 31 March 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2024 was £Nil (2023: £600,000).

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

D H Danaher
S Danaher

Other changes in directors holding office are as follows:

S D McCallion - appointed 1 November 2023

I M Gilbert ceased to be a director after 31 March 2024 but prior to the date of this report.

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 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.

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

REPORT OF THE DIRECTORS
for the year ended 31 March 2024


AUDITORS
The auditors, Magma Audit LLP (part of the Dains Group), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D H Danaher - Director


28 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED


Opinion
We have audited the financial statements of Danaher & Walsh (Civil Engineering) Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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.

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
DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED


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

- Obtaining an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
- Obtaining an understanding of the entity's policies and procedures and how the entity has complied with these, through discussions and sample testing of controls, including discussions with the Health and Safety Compliance manager for the company, and the review of legal and professional expenses;
- Obtaining an understanding and testing the assumptions and calculations involved in the recognition of long term contracts, including review of forecasts, detailed cost allocation testing and a review of the completeness of provisions for loss making contracts; and
- Performing audit testing over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluation the rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

In response to the risk of irregularities in relation to non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- Agreeing financial statement disclosures to underlying supporting documentation;
- Reading the minutes of meetings of those charged with governance;
- Enquiring of management as to actual and potential litigation claims; and
- Reviewing correspondence with HMRC and associated parties.

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.




Luke Turner FCA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

29 November 2024

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

STATEMENT OF INCOME AND
RETAINED EARNINGS
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 4 30,809,459 27,605,978

Cost of sales (28,097,628 ) (25,761,842 )
GROSS PROFIT 2,711,831 1,844,136

Administrative expenses (2,684,632 ) (2,346,731 )
OPERATING PROFIT/(LOSS) 7 27,199 (502,595 )

Interest receivable and similar income - 191
27,199 (502,404 )

Interest payable and similar expenses 8 (22,889 ) (8,427 )
PROFIT/(LOSS) BEFORE TAXATION 4,310 (510,831 )

Tax on profit/(loss) 9 (1,312 ) 130,617
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 2,998 (380,214 )

Retained earnings at beginning of year 3,016,046 3,996,260

Dividends 10 - (600,000 )

RETAINED EARNINGS AT END OF YEAR 3,019,044 3,016,046

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 11 1,027,125 777,987

CURRENT ASSETS
Stocks 12 49,251 4,240
Debtors 13 6,554,111 5,613,561
Cash at bank 465,613 865,469
7,068,975 6,483,270
CREDITORS
Amounts falling due within one year 14 (4,825,010 ) (4,116,714 )
NET CURRENT ASSETS 2,243,965 2,366,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,271,090

3,144,543

CREDITORS
Amounts falling due after more than one
year

15

(153,483

)

(54,945

)

PROVISIONS FOR LIABILITIES 17 (98,562 ) (73,551 )
NET ASSETS 3,019,045 3,016,047

CAPITAL AND RESERVES
Called up share capital 18 1 1
Retained earnings 19 3,019,044 3,016,046
SHAREHOLDERS' FUNDS 3,019,045 3,016,047

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





D H Danaher - Director


DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Danaher & Walsh (Civil Engineering) Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is 20 Granite Way, Mountsorrel, Loughborough, Leicestershire, England, LE12 7TZ and its registered number is 03951818.

The financial statements are prepared in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with Financial Reporting Standard 102 (FRS 102), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement, complexity or areas where assumptions and estimates are significant to the financial statements are disclosed in note 3.

Going concern
At the balance sheet date the company had a strong cash balance of £465,613 and a strong net current asset position of £2,243,965.

At the time of signing these accounts, the directors have prepared detailed forecasts, and consider that this indicates that the company will continue to trade for a period of at least 12 months from the date of signing these accounts.

On that basis, the directors have prepared these financial statements on a going concern basis.

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.

Turnover and profit recognition
Turnover represents amounts due on contracts completed in the year adjusted for turnover attributable to long term work in progress, exclusive of value added tax and trade discounts.

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contact value which costs incurred to date bear to total costs for that contract. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Cumulative turnover is compared with total payments on account. If turnover exceeds payments on account, an amount recoverable on contract is recognised and separately disclosed. If payments on accounts are greater than turnover to date, the excess is classified within creditors.

The amount of long-term contracts, at costs incurred, net of amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not matched with turnover, is included in work in progress.

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is de-recognised. Repairs and maintenance are charged to the statement of income and retained earnings during the period in which they are incurred.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives on the following basis:

Plant and machinery - 12.5% and 33% on cost per annum
Motor vehicles - 20% on cost per annum
Fixtures and fittings - 20%, 33% and 50% on cost per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the statement of income and retained earnings.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 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.


DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

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

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

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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 plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The directors make estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Impairment of non-current assets

The directors assess the impairment of tangible fixed assets subject to depreciation whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors considered important that could trigger an impairment review include the following:

- Significant underperformance relative to historical or projected future results;
- Significant changes in the manner of the use of the acquired assets or the strategy for the overall business; and
- Significant negative industry or economic trends.

Recoverability of trade and other debtors

Trade and other debtors are recognised to the extent that they are judged recoverable. The directors reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain.

The directors make allowances for doubtful debts based on an assessment of the responsibility of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such difference will impact the carrying value of debtors and the charge in the statement of income and retained earnings.

Taxation

There are many transactions and calculations for which the ultimate tax determination is uncertain. The company takes professional advice on its tax affairs and recognises liabilities and anticipated tax based on estimates of what taxation is likely to be due.

Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits.

Provisions

A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and director's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.


DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

Recognition of profit on long term contracts

Profit recognition is based on an assessment of the overall profitability forecast on individual contracts. Losses are recognised as soon as they are foreseen. Profits are recognised by the directors when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the accounting date.

Leases

The directors determination as to whether leases are entered into by the company either as a lessor or a lessee are operating leases or finance leases require judgement. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangement, and accordingly whether the lease requires an asset and liability to be recognised in the balance sheet.

4. TURNOVER

The whole of the turnover is attributable to the company's principal activity.

All turnover arose within the United Kingdom.

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,280,283 3,870,838
Social security costs 474,385 447,092
Other pension costs 163,819 150,333
4,918,487 4,468,263

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

Production 69 68
Administrative 11 11
Management 5 5
85 84

6. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration 246,325 178,500
Directors' pension contributions to money purchase schemes 17,368 10,966

The number of directors to whom retirement benefits were accruing was as follows:

Defined benefit schemes 2 2

Information regarding the highest paid director for the year ended 31 March 2024 is as follows:
2024
£   
Emoluments etc 124,461
Pension contributions to money purchase schemes 1,468

Other directors are remunerated by the parent company Danaher & Walsh Group Limited.

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


7. OPERATING PROFIT/(LOSS)

The operating profit is stated after charging:

20242023
£   £   
Depreciation of tangible fixed assets owned140,494146,876
Depreciation of tangible fixed assets held under finance131,66261,190
Profit on disposal of tangible fixed assets26,45061,183
Other operating lease rentals98,901105,489

The audit fees are borne by the parent company, Danaher & Walsh Group Limited. The auditors remuneration for the year was £16,250 (2023: £15,000).

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
HMRC interest 507 -
Finance leases and hire
purchase contracts 22,382 8,427
22,889 8,427

9. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (23,699 ) (60,465 )
Adjustment to prior years - 434
Total current tax (23,699 ) (60,031 )

Deferred tax:
Current year deferred tax movement 25,011 (70,586 )
Tax on profit/(loss) 1,312 (130,617 )

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. TAXATION - continued

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

2024 2023
£    £   
Profit/(loss) before tax 4,310 (510,831 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

1,078

(97,058

)

Effects of:
Expenses not deductible for tax purposes 234 1,467
Adjustments to tax charge in respect of previous periods - 434
Fixed asset differences - (18,519 )
Remeasurement of deferred tax for changes in tax rates - (16,941 )
Group relief (23,699 ) (60,465 )
Compensation for losses 23,699 60,465
Total tax charge/(credit) 1,312 (130,617 )

Losses carried forward

The company is carrying forward losses of approximately £369,000 to utilise against future profits.

10. DIVIDENDS

20242023
£   £   
Ordinary share of £1 -600,000

11. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 402,300 216,394 900,486 1,519,180
Additions 434 56,998 476,455 533,887
Disposals - - (62,422 ) (62,422 )
At 31 March 2024 402,734 273,392 1,314,519 1,990,645
DEPRECIATION
At 1 April 2023 95,918 189,945 455,330 741,193
Charge for year 50,568 23,853 197,735 272,156
Eliminated on disposal - - (49,829 ) (49,829 )
At 31 March 2024 146,486 213,798 603,236 963,520
NET BOOK VALUE
At 31 March 2024 256,248 59,594 711,283 1,027,125
At 31 March 2023 306,382 26,449 445,156 777,987

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


11. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 315,000 171,870 486,870
Additions - 380,747 380,747
At 31 March 2024 315,000 552,617 867,617
DEPRECIATION
At 1 April 2023 72,187 24,092 96,279
Charge for year 39,376 92,287 131,663
At 31 March 2024 111,563 116,379 227,942
NET BOOK VALUE
At 31 March 2024 203,437 436,238 639,675
At 31 March 2023 242,813 147,778 390,591

12. STOCKS
2024 2023
£    £   
Raw materials 49,251 4,240

13. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,154,314 1,134,903
Amounts owed by group undertakings 450,799 736,396
Amounts recoverable on
contracts 4,651,072 3,466,982
Tax 201 191
Prepayments 105,249 77,217
6,361,635 5,415,689

Amounts falling due after more than one year:
Trade debtors 192,476 197,872

Aggregate amounts 6,554,111 5,613,561

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 16) 167,831 160,579
Trade creditors 3,486,707 2,789,657
Amounts owed to group undertakings 791,832 700,893
Social security and other taxes 72,303 202,712
Other creditors 54,899 -
Accruals and deferred income 251,438 262,873
4,825,010 4,116,714

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 16) 153,483 54,945

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 167,831 160,579
Between one and five years 153,483 54,945
321,314 215,524

Non-cancellable operating leases
2024 2023
£    £   
Within one year 99,109 67,290
Between one and five years 92,149 101,867
191,258 169,157

Obligations under hire purchase contracts are secured upon the asset concerned. Obligations under operating and finance leases contracts are secured upon the asset concerned. Payments represent rentals payable by the company for plant, machinery and motor vehicles and the average lease term is 5 and 3 years respectively.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 256,782 194,497
Tax losses carried forward (150,928 ) (115,946 )
Short term timing differences (7,292 ) (5,000 )
98,562 73,551

DANAHER & WALSH (CIVIL ENGINEERING)
LIMITED (REGISTERED NUMBER: 03951818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


17. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 73,551
Provided during year 25,011
Losses carried forward
Balance at 31 March 2024 98,562

18. CALLED UP SHARE CAPITAL

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

19. RESERVES

Share Capital

Share Capital represents the nominal value of shares that have been issued.

Retained Earnings

This reserve represents all current and prior period retained profit and losses less dividends paid.

20. RELATED PARTY DISCLOSURES

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

21. ULTIMATE CONTROLLING PARTY

The company's immediate parent company and ultimate parent undertaking is Danaher & Walsh Group Limited, a company registered in England and Wales. Danaher & Walsh Group Limited heads the group in which these financial statements are consolidated. Consolidated accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

The group is under the control of the Danaher family.