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REGISTERED NUMBER: 05382100 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CARSON POWELL CONSTRUCTION LTD

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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










Page

Company Information 1

Strategic Report 2 to 3

Report of the Directors 4 to 5

Report of the Independent Auditors 6 to 9

Statement of Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13 to 25


CARSON POWELL CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Carson
N Powell
A Carson
S J Simcock
N K Grange
R W Longman





SECRETARY: A Carson





REGISTERED OFFICE: Building 103
Campbell Road
Stoke-on-Trent
Staffordshire
ST4 4DE





REGISTERED NUMBER: 05382100 (England and Wales)





AUDITORS: Sumer Auditco Limited
Chartered Accountants & Statutory Auditors
Stone House
Stone Road Business Park
Stoke-on-Trent
ST4 6SR

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report of the company for the year ended 31 March 2024. The Company's principal activity continues to be that of construction and maintenance.

REVIEW OF BUSINESS
In line with many external pressures this year, we saw a decline in turnover. Our focus for this year remained business continuity in the face of rising material costs, labour costs, energy costs and high rates of inflation. Our existing long-term strategies continue to give us positive results.

The company maintained long standing customer relationships, through providing a strong reliable service at competitive prices, with quality workmanship. Further building on these relationships to increase turnover in many areas of the business.

Despite the fall in turnover this year, the company continued to maintain its focus on continuity and strategic future growth.
The company built on the trading period to 31 March 2024 by posting a pre-tax profit of £1,159,731 (2023 £1,380,293)

Turnover has decreased by 5% (2023: 51% increase) during the year.

Operating profit margin has decreased to 7% (2023: 8%).

Return on capital employed decreased to 140% (2023: increased to 144%).

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors meet monthly to continue to manage and monitor the financial performance of the business; and assess and manage material risks faced by the business, ensuring effective risk management strategies are in place.

Health and Safety compliance and systems control are a major risk area for the business and as such, the Company has a dedicated Health and Safety department headed up by one of the board of directors. This department prides itself on putting stringent measures and operative training in place to mitigate health and safety breaches, thus keeping operative safety paramount.

The Company continues to maintain its ISO 9001 & 14001 accreditations, showing the commitment to quality control and environmental awareness.

CORPORATE AND SOCIAL RESPONSIBILITY
The group recognises its responsibilities in terms of equality and human rights towards its employees and individuals involved with the group. To these ends a high priority is given to ethical considerations in supplier and employee selection and partnership. The group has well established codes in respect of employee welfare and respect for the community and the group operates these.

FINANCIAL RISK MANAGEMENT
Credit risk is addressed by carrying out regular checks of our customers with a reputable credit risk agency and holding a provision for doubtful debts on the balance sheet.

OPERATING EXPENSES
Operational expenses are monitored continually for each expense category and the directors are satisfied that the business continues to demonstrate strong cost control and caution in its decision making.

WORKING CAPITAL
The group meets its day to day working capital requirements through receipts from customers. These are closely monitored to ensure adherence to agreed credit terms.





CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


FUTURE DEVELOPMENTS
With rising energy costs, higher inflation and increasing interest rates being prevalent, we continue to be cautiously optimistic about the company's growth strategies and longevity, even when faced with these financially challenging times ahead. To date we are showing a relatively similar turnover level to 2024 and continue to monitor profitability and financial resources closely.

ON BEHALF OF THE BOARD:





S J Simcock - Director


20 December 2024

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 850,000 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

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

S Carson
N Powell
A Carson
S J Simcock
N K Grange
R W Longman

Other changes in directors holding office are as follows:

H Woolley - resigned 31 October 2023

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 including future developments of the company.

The strategic report can be found on page 2 of these financial statements.

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.

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


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.

AUDITORS
The auditors is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:





S J Simcock - Director


20 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CARSON POWELL CONSTRUCTION LTD


Opinion
We have audited the financial statements of Carson Powell Construction Ltd (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CARSON POWELL CONSTRUCTION LTD


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
CARSON POWELL CONSTRUCTION LTD


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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

o the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;
o results of our enquiries of management about their own identification and assessment of the risks of irregularities;
o any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
o the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the company risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we identified Health and Safety compliance risk as a key audit matter related to the potential risk of fraud or irregularities.

Our procedures to respond to risks identified included the following:
o review of the outcomes of health and safety inspections and ISO audits;
o reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
o enquiring of management concerning actual and potential litigation and claims;
o performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
o obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
o in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CARSON POWELL CONSTRUCTION LTD

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.




Michelle Coates (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited
Chartered Accountants & Statutory Auditors
Stone House
Stone Road Business Park
Stoke-on-Trent
ST4 6SR

20 December 2024

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 3 15,751,782 16,608,164

Cost of sales (12,131,133 ) (13,265,894 )
GROSS PROFIT 3,620,649 3,342,270

Administrative expenses (2,498,117 ) (2,053,811 )
1,122,532 1,288,459

Other operating income 57,431 101,863
OPERATING PROFIT 5 1,179,963 1,390,322

Income from shares in group
undertakings

14,000

14,000
Interest receivable and similar income 4,961 184
1,198,924 1,404,506

Interest payable and similar expenses 6 (39,193 ) (24,213 )
PROFIT BEFORE TAXATION 1,159,731 1,380,293

Tax on profit 7 (291,285 ) (234,378 )
PROFIT FOR THE FINANCIAL YEAR 868,446 1,145,915

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

868,446

1,145,915

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 1,182,380 1,139,511
Investments 11 126,001 126,001
1,308,381 1,265,512

CURRENT ASSETS
Stocks 12 1,134,761 1,085,333
Debtors 13 2,603,685 2,876,435
Cash at bank and in hand 494,493 839,116
4,232,939 4,800,884
CREDITORS
Amounts falling due within one year 14 (4,130,405 ) (4,591,403 )
NET CURRENT ASSETS 102,534 209,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,410,915

1,474,993

CREDITORS
Amounts falling due after more than one
year

15

(383,453

)

(451,107

)

PROVISIONS FOR LIABILITIES 18 (50,090 ) (64,960 )
NET ASSETS 977,372 958,926

CAPITAL AND RESERVES
Called up share capital 19 400 400
Share premium 20 15,633 15,633
Retained earnings 20 961,339 942,893
SHAREHOLDERS' FUNDS 977,372 958,926

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2024 and were signed on its behalf by:





S J Simcock - Director


CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 April 2022 400 952,003 15,633 968,036

Changes in equity
Dividends - (1,155,025 ) - (1,155,025 )
Total comprehensive income - 1,145,915 - 1,145,915
Balance at 31 March 2023 400 942,893 15,633 958,926

Changes in equity
Dividends - (850,000 ) - (850,000 )
Total comprehensive income - 868,446 - 868,446
Balance at 31 March 2024 400 961,339 15,633 977,372

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


1. STATUTORY INFORMATION

Carson Powell Construction Ltd 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.

The principal activity of the company was that of building services.

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 considered to be the functional and presentational currency of the company.

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.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements require management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience of other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Work in progress
Work in progress represents the income and costs associated with construction contracts by reference to the stage of completion at the year end. Stage of completion is measured by the proportion of costs incurred for work performed to date compared to the total estimated costs.

Estimated useful lives and residual values of fixed assets
As described in the notes to the financial statements, depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and the actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company provides building services. Income is recognised based on the stage of completion of the contract.

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


2. ACCOUNTING POLICIES - continued

GOODWILL
Goodwill arises on business acquisition and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value over the useful life of that asset as follows:

Goodwill - fully amortised

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated
Motor vehicles - 20% reducing balance
Computer equipment - 33% straight line

Freehold property is not depreciated due to the high residual value.

Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

STOCKS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Work in progress represents the income and costs associated with construction contracts by reference to the stage of completion at the year end. Stage of completion is measured by the proportion of costs incurred for work performed to date compared to the total estimated costs.

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

CORPORATION TAX
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 statement of financial position date.


CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets held under finance leases and hire purchases contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

OPERATING LEASES
Lease payments are recognised as an expense over the lease term on a straight line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight line basis.

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.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3. TURNOVER

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

An analysis of turnover by geographical market is given below:

31.3.24 31.3.23
£    £   
United Kingdom 15,751,782 16,608,164
15,751,782 16,608,164

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


4. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 2,899,148 2,793,790
Social security costs 4,964 6,804
Other pension costs 53,944 53,375
2,958,056 2,853,969

The average number of employees during the year was as follows:
31.3.24 31.3.23

Operatives 76 82
Directors 7 7
83 89

31.3.24 31.3.23
£ £
Directors' remuneration 132,735 46,580

5. OPERATING PROFIT

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

31.3.24 31.3.23
£    £   
Hire of plant and machinery 440,007 332,446
Depreciation - owned assets 47,087 37,889
Loss/(profit) on disposal of fixed assets 1,930 (69,573 )
Auditors' remuneration 44,838 25,241

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Bank interest 28,402 20,288
Corporation tax interest 4,364 -
Hire purchase interest 6,427 3,925
39,193 24,213

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 306,155 229,692
Underprovision of tax - (17,047 )
Total current tax 306,155 212,645

Deferred tax (14,870 ) 21,733
Tax on profit 291,285 234,378

RECONCILIATION OF TOTAL TAX CHARGE 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:

31.3.24 31.3.23
£    £   
Profit before tax 1,159,731 1,380,293
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

289,933

262,256

Effects of:
Expenses not deductible for tax purposes 30,440 1,731
Income not taxable for tax purposes (3,500 ) (2,660 )
Capital allowances in excess of depreciation (25,588 ) (13,740 )
Adjustments to tax charge in respect of previous periods - (17,047 )
Group relief - (8,446 )
Deferred tax movement - 21,733
Change in tax rate - (9,449 )
Total tax charge 291,285 234,378

8. DIVIDENDS
31.3.24 31.3.23
£    £   
Ordinary A shares of £0.01 each
Interim 850,000 1,155,025

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 5,000
AMORTISATION
At 1 April 2023
and 31 March 2024 5,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

10. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 982,021 182,318 3,769 1,168,108
Additions - 89,956 - 89,956
At 31 March 2024 982,021 272,274 3,769 1,258,064
DEPRECIATION
At 1 April 2023 - 24,828 3,769 28,597
Charge for year - 47,087 - 47,087
At 31 March 2024 - 71,915 3,769 75,684
NET BOOK VALUE
At 31 March 2024 982,021 200,359 - 1,182,380
At 31 March 2023 982,021 157,490 - 1,139,511

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

31.3.2431.3.23
££

Motor vehicles148,991157,483
148,991157,483

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


11. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 126,001
NET BOOK VALUE
At 31 March 2024 126,001
At 31 March 2023 126,001

12. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 1,134,761 1,085,333

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,510,999 2,176,170
Amounts owed by group undertakings 81,276 188,687
Amounts owed by associates 79,090 103,820
Other debtors 129,517 15,970
Amounts owed by connected
companies 159,829 20,431
Directors' loan accounts 574,419 322,980
Prepayments and accrued income 68,555 48,377
2,603,685 2,876,435

Amounts owed by group and connected undertakings are unsecured, interest free and are repayable on demand.

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 16) 39,759 39,759
Hire purchase contracts (see note 17) 47,943 41,772
Trade creditors 927,491 1,320,094
Amounts owed to group undertakings 1,633,796 1,151,446
Amounts owed to associates 45,151 -
Tax 508,945 376,465
Social security and other taxes 90,443 90,769
VAT 331,877 697,948
Other creditors 19,638 21,916
Amounts owed to connected companies 311,071 691,020
Accruals and deferred income 174,291 160,214
4,130,405 4,591,403

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts owed to group undertakings and connected companies are unsecured, interest free and are repayable on demand.

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 16) 311,013 350,772
Hire purchase contracts (see note 17) 72,440 100,335
383,453 451,107

There are four bank loans in existence.

The first loan is repayable by monthly instalments over 15 years, with a minimum 7 year commitment at an interest rate of 2.64% above LIBOR.

The other loans are repayable by monthly instalments over 7 years, at an interest rate of 2.64% above the Bank of England's base rate.

The loans are secured by fixed charges over the freehold properties.

16. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 39,759 39,759

Amounts falling due between one and two years:
Bank loans - 1-2 years 39,759 39,759

Amounts falling due between two and five years:
Bank loans - 2-5 years 118,795 119,276

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 152,459 191,737
152,459 191,737

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Gross obligations repayable:
Within one year 54,638 47,411
Between one and five years 82,829 113,982
137,467 161,393

Finance charges repayable:
Within one year 6,695 5,639
Between one and five years 10,389 13,647
17,084 19,286

Net obligations repayable:
Within one year 47,943 41,772
Between one and five years 72,440 100,335
120,383 142,107

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 44,604 36,214
Between one and five years 121,503 121,818
166,107 158,032

18. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 50,090 64,960

Deferred
tax
£   
Balance at 1 April 2023 64,960
Provided during year (14,870 )
Balance at 31 March 2024 50,090

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
40,000 Ordinary 1p 400 400

20. RESERVES

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs.

Retained earnings - This reserve records retained earnings and accumulated losses.

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
S Carson and A Carson
Balance outstanding at start of year 28,875 (16,275 )
Amounts advanced 85,060 45,150
Amounts repaid (28,875 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,060 28,875

N Powell
Balance outstanding at start of year 84,417 778
Amounts advanced 144,634 135,137
Amounts repaid (84,418 ) (51,498 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 144,633 84,417

S J Simcock
Balance outstanding at start of year 44,132 53,100
Amounts advanced 114,186 44,525
Amounts repaid (44,293 ) (53,493 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 114,025 44,132

N K Grange
Balance outstanding at start of year 70,243 55,706
Amounts advanced 113,699 70,242
Amounts repaid (70,243 ) (55,705 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 113,699 70,243

CARSON POWELL CONSTRUCTION LTD (REGISTERED NUMBER: 05382100)

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


21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R W Longman
Balance outstanding at start of year 34,095 52,335
Amounts advanced 117,001 34,095
Amounts repaid (34,095 ) (52,335 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 117,001 34,095

H Woolley
Balance outstanding at start of year 61,217 42,261
Amounts advanced 15,033 61,217
Amounts repaid (76,250 ) (42,261 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 61,217

By virtue of the outstanding loan account balances, a liability to taxation exists under section 455 CTA 2010 in the sum of £193,866 which will be repaid or discharged when the loans are repaid. It is anticipated that £372,419 of the loans will be repaid within nine months of the year end. A provision has been made in the sum of £68,175 for the loans that will not be repaid within nine months of the year end.

22. EVENTS AFTER THE REPORTING PERIOD

There were no material events up to the the date of the approval of the financial statements by the Board.

23. PARENT COMPANY

The company is a wholly owned subsidiary of Carson Powell Holdings Limited, a company incorporated in England & Wales.

There is no one controlling party in the ultimate parent company.