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Registration number: 05820206

T.C & D Construction Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2024

 

T.C & D Construction Limited

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Statement of Director's Responsibilities

4

Independent Auditor's Report

5 to 7

Profit and Loss Account

8

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Financial Statements

13 to 22

 

T.C & D Construction Limited

Company Information

Director

Miss Daiva Staniukynaite

Registered office

1 Station Road
Sidcup
Kent
DA15 7EN

Accountants

Spurlings Accountants Limited Unit 9, 97-101 Peregrine Road
Hainault
Essex
IG6 3XH

Auditors

Paul Winston Limited
Chartered Accountants and Statutory AuditorsSilver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

T.C & D Construction Limited

Strategic Report for the Year Ended 31 March 2024

The director presents her strategic report for the year ended 31 March 2024.

Principal activity

The principal activity of the company is commercial renovations and fit outs

Fair review of the business

The company continues to trade at a steady pace and the director is satisfied that the level of trade and growth is sustainable and manageable.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Trading income

£000's

22,629

19,739

Gross Profit

%

10

7

Principal risks and uncertainties

The prinicipke risks facing the business are those of the potential for human error, and as a result injury, during the course of working on building sites, a naturally dangerous environment. The world turbulance in recent years has aded a further risk of injury and damage through intentional acts of violence, whether targeted or not.

These risks are managed through rigourous security, health and safety procedures on all sites and at all times.

The Covid pandemic meant that work was slow in the year undeer review, but it is expected to recover as restricto ease.. The director will continue to monitor and manage the risks this poses to the company.

Approved and authorised by the director on 2 January 2025
 

.........................................
Miss Daiva Staniukynaite
Director

 

T.C & D Construction Limited

Director's Report for the Year Ended 31 March 2024

The director presents her report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Miss Daiva Staniukynaite

Financial instruments

Objectives and policies

The company strives to maintain the highest levels of building quality, and to do so in a highly secure and safe environment for all the workers involved on all sites and at all times.

Price risk, credit risk, liquidity risk and cash flow risk

The company is facing the risk of price rices for raw materials and ndeed labour in the face ofmaket uncertainties following the "Brexit" vote in 2016 and the current ongoing Covid pandemic. The director continues to monitor the market adn the effect on the business and the pricing structures for sales.

Disclosure of information to the auditors

The director has taken steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that she knows of and of which she knows the auditors are unaware.

Reappointment of auditors

The auditors Paul Winston Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Approved and authorised by the director on 2 January 2025
 

.........................................
Miss Daiva Staniukynaite
Director

 

T.C & D Construction Limited

Statement of Director's Responsibilities

The director acknowledges her responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless she is 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 director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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.

 

T.C & D Construction Limited

Independent Auditor's Report to the Members of T.C & D Construction Limited

Opinion

We have audited the financial statements of T.C & D Construction Limited (the 'company') for the year ended 31 March 2024, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 auditor 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 director's 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 original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

T.C & D Construction Limited

Independent Auditor's Report to the Members of T.C & D Construction Limited

Opinion on other matter 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and the Director's Report.

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 director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is 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 director determines is 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 an auditor’s report 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 organise our work to detect irregularities and fraud by use of various standard audit procedures. These
procedures are likely to uncover unintentional irregularities but a carefully constructed fraud may be harder to
detect and one should not rely on our audit work as a guarantee of the absence of such irregularites and fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

 

T.C & D Construction Limited

Independent Auditor's Report to the Members of T.C & D Construction Limited

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 an auditor’s report 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.

......................................
Paul Winston (Senior Statutory Auditor)
For and on behalf of Paul Winston Limited, Statutory Auditor
 Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

2 January 2025

 

T.C & D Construction Limited

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

3

22,640,823

19,751,093

Cost of sales

 

(20,332,269)

(18,443,239)

Gross profit

 

2,308,554

1,307,854

Administrative expenses

 

(503,963)

(403,771)

Operating profit

5

1,804,591

904,083

Other interest receivable and similar income

6

25,161

4,239

Interest payable and similar expenses

7

(14,173)

(9,275)

   

10,988

(5,036)

Profit before tax

 

1,815,579

899,047

Tax on profit

11

(490,042)

(173,940)

Profit for the financial year

 

1,325,537

725,107

The above results were derived from continuing operations.

 

T.C & D Construction Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

1,325,537

725,107

Deficit on revaluation of other assets

(88,473)

-

Total comprehensive income for the year

1,237,064

725,107

 

T.C & D Construction Limited

(Registration number: 05820206)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

12

272,993

204,690

Investment property

13

-

500,000

 

272,993

704,690

Current assets

 

Stocks

14

45,000

48,000

Debtors

15

3,619,200

2,673,188

Cash at bank and in hand

 

2,204,864

2,994,994

 

5,869,064

5,716,182

Creditors: Amounts falling due within one year

17

(2,369,209)

(2,522,270)

Net current assets

 

3,499,855

3,193,912

Total assets less current liabilities

 

3,772,848

3,898,602

Creditors: Amounts falling due after more than one year

17

(156,517)

(126,363)

Provisions for liabilities

18

(704,330)

(497,302)

Net assets

 

2,912,001

3,274,937

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

-

88,473

Retained earnings

2,911,901

3,186,364

Shareholders' funds

 

2,912,001

3,274,937

Approved and authorised by the director on 2 January 2025
 

.........................................
Miss Daiva Staniukynaite
Director

 

T.C & D Construction Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 April 2023

100

88,473

3,186,364

3,274,937

Profit for the year

-

-

1,325,537

1,325,537

Other comprehensive income

-

(88,473)

-

(88,473)

Total comprehensive income

-

(88,473)

1,325,537

1,237,064

Dividends

-

-

(1,600,000)

(1,600,000)

At 31 March 2024

100

-

2,911,901

2,912,001

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 April 2022

100

88,473

3,181,257

3,269,830

Profit for the year

-

-

725,107

725,107

Dividends

-

-

(720,000)

(720,000)

At 31 March 2023

100

88,473

3,186,364

3,274,937

 

T.C & D Construction Limited

Statement of Cash Flows for the Year Ended 31 March 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

1,325,537

725,107

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

5

90,999

68,234

Profit on disposal of tangible assets

4

(3,489)

(56,588)

Loss from sales of investment properties

4

16,527

-

Finance income

6

(25,161)

(4,239)

Finance costs

7

14,173

9,275

Income tax expense

11

490,042

173,940

 

1,908,628

915,729

Working capital adjustments

 

Decrease/(increase) in stocks

14

3,000

(23,000)

Increase in trade debtors

15

(946,012)

(1,360,211)

(Decrease)/increase in trade creditors

17

(465,881)

1,301,921

Increase in provisions

18

177,109

96,181

Cash generated from operations

 

676,844

930,620

Income taxes paid

11

(240,253)

(192,827)

Net cash flow from operating activities

 

436,591

737,793

Cash flows from investing activities

 

Interest received

6

25,161

4,239

Acquisitions of tangible assets

(162,496)

(235,075)

Proceeds from sale of tangible assets

 

6,683

118,226

Proceeds from sale of investment properties

 

483,473

-

Net cash flows from investing activities

 

352,821

(112,610)

Cash flows from financing activities

 

Interest paid

7

(14,173)

(9,275)

Payments to finance lease creditors

 

34,631

74,012

Dividends paid

22

(1,600,000)

(720,000)

Net cash flows from financing activities

 

(1,579,542)

(655,263)

Net decrease in cash and cash equivalents

 

(790,130)

(30,080)

Cash and cash equivalents at 1 April

 

2,994,994

3,025,074

Cash and cash equivalents at 31 March

 

2,204,864

2,994,994

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Station Road
Sidcup
Kent
DA15 7EN

These financial statements were authorised for issue by the director on 2 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% net book value

Motor vehicles

25% net book value

Fixtures and fittings

25% net book value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Revenue

The analysis of the company's revenue for the year from continuing operations is as follows:

2024
 £

2023
 £

Sale of goods

22,628,823

19,739,093

Leasing of equipment

12,000

12,000

22,640,823

19,751,093

4

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

2024
 £

2023
 £

Gain/loss on disposal of property, plant and equipment

3,489

56,588

Gain/loss on investment properties

(16,527)

-

(13,038)

56,588

5

Operating profit

Arrived at after charging/(crediting)

2024
 £

2023
 £

Depreciation expense

90,999

68,234

Profit on disposal of property, plant and equipment

(3,489)

(56,588)

6

Other interest receivable and similar income

2024
 £

2023
 £

Interest income on bank deposits

25,161

4,239

7

Interest payable and similar expenses

2024
 £

2023
 £

Interest on obligations under finance leases and hire purchase contracts

11,901

9,259

Interest expense on other finance liabilities

2,272

16

14,173

9,275

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

8

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

2024
£

2023
£

Wages and salaries

119,691

132,290

Social security costs

10,196

9,117

Pension costs, defined contribution scheme

2,097

2,737

Other employee expense

2,700

1,162

134,684

145,306

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

5

7

5

7

9

Director's remuneration

The director's remuneration for the year was as follows:

2024
 £

2023
 £

Remuneration

13,200

13,200

Contributions paid to money purchase schemes

209

209

13,409

13,409

10

Auditors' remuneration

2024
 £

2023
 £

Audit of the financial statements

7,050

6,750


 

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

11

Taxation

Tax charged/(credited) in the income statement

2024
 £

2023
 £

Current taxation

UK corporation tax

460,122

152,651

UK corporation tax adjustment to prior periods

-

1,300

460,122

153,951

Deferred taxation

Arising from origination and reversal of timing differences

29,920

19,989

Tax expense in the income statement

490,042

173,940

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 19%).

The differences are reconciled below:

2024
 £

2023
 £

Profit before tax

1,815,579

899,047

Corporation tax at standard rate

453,895

170,819

Other tax effects for reconciliation between accounting profit and tax expense (income)

36,147

3,121

Total tax charge

490,042

173,940

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

12

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

262,267

283,830

546,097

Additions

-

162,496

162,496

Disposals

-

(30,170)

(30,170)

At 31 March 2024

262,267

416,156

678,423

Depreciation

At 1 April 2023

244,326

97,081

341,407

Charge for the year

4,486

86,513

90,999

Eliminated on disposal

-

(26,976)

(26,976)

At 31 March 2024

248,812

156,618

405,430

Carrying amount

At 31 March 2024

13,455

259,538

272,993

At 31 March 2023

17,941

186,749

204,690

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

13

Investment properties

2024
£

At 1 April

500,000

Disposals

(500,000)

At 31 March

-

There has been no valuation of investment property by an independent valuer.

14

Stocks

2024
 £

2023
 £

Raw materials and consumables

45,000

48,000

15

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,553,012

1,576,211

Amounts owed by related parties

1,964,198

969,198

Other debtors

 

101,115

127,779

Prepayments

 

875

-

   

3,619,200

2,673,188

16

Cash and cash equivalents

2024
 £

2023
 £

Cash on hand

-

1,091

Cash at bank

43,387

117,510

Short-term deposits

2,161,477

2,876,393

2,204,864

2,994,994

 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

17

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

21

26,808

22,331

trade creditors

 

1,387,993

1,541,217

Amounts due to related parties

28,566

28,566

Social security and other taxes

 

428,494

734,108

Other payables

 

18,019

30,362

Accrued expenses

 

17,050

11,750

Income tax liability

11

462,279

153,936

 

2,369,209

2,522,270

Due after one year

 

Loans and borrowings

21

156,517

126,363

18

Provisions for liabilities

Deferred tax
£

Other provisions
£

Total
£

At 1 April 2023

38,892

458,410

497,302

Increase (decrease) in existing provisions

29,919

177,109

207,028

At 31 March 2024

68,811

635,519

704,330

19

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £2,097 (2023 - £2,737).

20

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

T.C & D Construction Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

21

Loans and borrowings

2024
 £

2023
 £

Non-current loans and borrowings

HP and finance lease liabilities

156,517

126,363

2024
 £

2023
 £

Current loans and borrowings

HP and finance lease liabilities

26,808

22,331

22

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £1.00) per ordinary share

-

-

Interim dividend of £16,000.00 (2023 - £7,200.00) per ordinary share

1,600,000

720,000

1,600,000

720,000

 

 

23

Parent and ultimate parent undertaking

The company's immediate parent is TCD Construction UK Limited, incorporated in England.