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Registered number: 04020568
Tay-Dal Surfacing Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 April 2024
RDP Accountants
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—7
Statement of Income and Retained Earnings 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the Statement of Cash Flows 11
Notes to the Financial Statements 12—18
Page 1
Strategic Report
The directors present their strategic report for the year ended 30 April 2024.
Review of the Business
Company Overview:
Tay-dal Surfacing Limited has established a strong foothold in the market, offering high-quality services that prioritize durability, efficiency, and customer satisfaction. With a proven track record of delivering exceptional results, we continue to expand our client base and strengthen our reputation as a trusted industry leader.
Principal Risks and Uncertainties:
  • Market Volatility: Fluctuations in demand for road surfacing services due to economic conditions, government funding, and infrastructure projects could impact revenue streams.
  • Supply Chain Disruptions: Dependencies on suppliers for materials like asphalt, concrete, and machinery pose risks of delays or price hikes, affecting project timelines and profitability.
  • Regulatory Compliance: Changes in environmental regulations, safety standards, or licensing requirements could lead to additional costs, operational adjustments, or penalties if not adhered to adequately.
  • Competition: Intense competition within the road surfacing industry could exert pressure on pricing, margins, and market share, necessitating strategic differentiation and efficiency improvements.
  • Technological Advances: Rapid advancements in road surfacing technologies, such as eco-friendly materials or innovative application methods, may require continuous investment in research and development to stay competitive.
  • Labour Shortages and Skill Gaps: Difficulty in attracting and retaining skilled labour may impact project execution and quality, leading to increased costs or delays.
  • Weather Dependencies: Adverse weather conditions, such as heavy rainfall or extreme temperatures, can disrupt project schedules, extend completion times, and increase operational costs.
  • Natural Disasters and Force Majeure Events: Unforeseen events such as pandemics may disrupt operations and pose significant challenges in maintaining business continuity.
Review of Performance:
During the review period, Tay-dal Surfacing Limited continued to solidify its position as a leader in the road surfacing industry, achieving client satisfaction and a strong financial performance.
Key Strategies:
  • Invest in innovative surfacing technologies to enhance efficiency, durability, and environmental sustainability.
  • Embrace advancements such as recycled materials, eco-friendly additives, and automated processes to stay ahead of the competition.
  • Forge strategic partnerships with suppliers, contractors, and government agencies to access new markets and project opportunities.
  • Implement lean management practices to optimize operational processes and minimize costs without compromising quality.
Financial Outlook:
The company remains financially robust with healthy profit margins. By adhering to prudent financial management principles and making strategic investments in technology, infrastructure, and human capital, we are well-positioned to sustain profitability and drive long-term value for stakeholders.
On behalf of the board
Mr Wayne Dale
Director
08/01/2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 April 2024.
Principal Activity
The company's principal activity continues to be that of asphalters.
Dividends
The value of dividends paid amounted to £728,000 .
Directors
The directors who held office during the year were as follows:
Mr Shane Dale
Mr Wayne Dale
Mr Kevin Taylor
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, TC Group, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr Wayne Dale
Director
08/01/2025
Page 3
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Independent Auditor's Report
Opinion
We have audited the financial statements of Tay-Dal Surfacing Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit/(loss) 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's 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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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 Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2—3, 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 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 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.
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Auditor's 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.
Our approach was as follows:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;
We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;
We considered the nature of the industry, the control environment and business performance, including the key drivers for management's remuneration;
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;
We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls;
We reviewed and tested the appropriateness of journals and other adjustments , assessed areas where judgement had been used and tested significant transactions for appropriateness of accounting treatment.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owing 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, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that 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.
Simon Garner (Senior Statutory Auditor)
for and on behalf of TC Group , Statutory Auditor
14/01/2025
...CONTINUED
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TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
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Statement of Income and Retained Earnings
2024 2023
Notes £ £
TURNOVER 13,547,999 13,722,182
Cost of sales (10,911,398 ) (11,066,868 )
GROSS PROFIT 2,636,601 2,655,314
Administrative expenses (1,643,195 ) (1,738,036 )
Other operating income 97 343
OPERATING PROFIT 3 993,503 917,621
Profit on disposal of fixed assets - -
Interest payable and similar charges 8 (4,546 ) (29,829 )
PROFIT BEFORE TAXATION 988,957 887,792
Tax on Profit 9 (248,962 ) (207,010 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 739,995 680,782
RETAINED EARNINGS
As at 1 May 2023 4,372,285 4,292,598
Dividends paid (728,000) (728,000)
Prior year adjustment - 126,905
As at 30 April 2024 4,384,280 4,372,285
The notes on pages 11 to 18 form part of these financial statements.
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Balance Sheet
Registered number: 04020568
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 10 1,668,004 1,129,621
1,668,004 1,129,621
CURRENT ASSETS
Stocks 11 19,948 12,053
Debtors 12 2,846,804 3,171,173
Cash at bank and in hand 2,793,235 3,090,730
5,659,987 6,273,956
Creditors: Amounts Falling Due Within One Year 13 (2,430,944 ) (2,687,887 )
NET CURRENT ASSETS (LIABILITIES) 3,229,043 3,586,069
TOTAL ASSETS LESS CURRENT LIABILITIES 4,897,047 4,715,690
PROVISIONS FOR LIABILITIES
Provisions For Charges 15 (222,328 ) (222,328 )
Deferred Taxation (290,437 ) (121,075 )
NET ASSETS 4,384,282 4,372,287
CAPITAL AND RESERVES
Called up share capital 16 2 2
Profit and Loss Account 4,384,280 4,372,285
SHAREHOLDERS' FUNDS 4,384,282 4,372,287
The financial statements were approved by the board of directors and authorised for issue on 10 January 2025 and were signed on its behalf by:
Mr Wayne Dale
Director
10/01/2025
The notes on pages 11 to 18 form part of these financial statements.
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 1,399,507 1,758,972
Interest paid (4,546 ) (29,829 )
Tax paid (288,400 ) (50,135 )
Net cash generated from operating activities 1,106,561 1,679,008
Cash flows from investing activities
Purchase of tangible assets (1,104,078 ) (91,134 )
Proceeds from disposal of tangible assets 189,500 21,531
Net cash used in investing activities (914,578 ) (69,603 )
Cash flows from financing activities
Equity dividends paid (728,000 ) (728,000 )
Repayment of finance leases 237,150 (64,317 )
Amount introduced by directors 1,372 1,715
Net cash used in financing activities (489,478 ) (790,602 )
(Decrease)/increase in cash and cash equivalents (297,495 ) 818,803
Cash and cash equivalents at beginning of year 2 3,090,730 2,271,927
Cash and cash equivalents at end of year 2 2,793,235 3,090,730
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 739,995 680,782
Adjustments for:
Tax on profit 248,962 207,010
Interest expense 4,546 29,829
Depreciation of tangible assets 401,592 288,474
Movements in working capital:
(Increase)/decrease in stocks (7,895 ) 3,066
Decrease/(increase) in trade and other debtors 324,369 (119,804 )
(Decrease)/increase in trade and other creditors (286,665 ) 680,137
Profit on disposal of fixed assets (25,397) (10,522)
Net cash generated from operations 1,399,507 1,758,972
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 2,793,235 3,090,730
3. Analysis of changes in net funds
As at 1 May 2023 Cash flows As at 30 April 2024
£ £ £
Cash at bank and in hand 3,090,730 (297,495) 2,793,235
Finance leases - (237,150) (237,150)
3,090,730 (534,645) 2,556,085
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Notes to the Financial Statements
1. General Information
Tay-Dal Surfacing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04020568 . The registered office is Unit D, Devon Suite, Dencora Business Centre, 36 Whitehouse Road, Ipswich, Suffolk, IP1 5LT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Where a contract is incomplete at the balance sheet date and the outcome of the contract can be estimated reliably, revenue is recognised by reference to the stage of completion of the contract activity at the reporting end date.
When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.
Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.
The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion.  These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. There is no depreciation on land. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation on land
Improvements to property 15% RBM
Plant & Machinery 25% RBM
Motor Vehicles 25% RBM
Fixtures & Fittings 25% RBM
Computer Equipment 25% RBM
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Retentions
Retentions have been recognised according to the amounts expected to be received by the company after deducting any costs likely to be incurred in recovering such amounts.
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2.10. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
During the year the following estimates were required.
Key sources of estimation uncertainty
Depreciation: the charge in respect of depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. The estimates are based on historical experience of the useful life of similar assets.
Recognition of income from retentions: In common with many businesses in the construction sector, many of the company's customers retain a proportion of sales revenue for a period of at least twelve months in case remedial work is required. The company recognises these retentions based on their expectation of recovery of the amounts using experience gained from previous periods. At the balance sheet date the company has recognised retentions amounting to £154,209 (2023: £102,656) and these amounts are included in debtors.
3. Operating Profit
The operating profit is stated after charging:
2024
2023
£
£
Hire of plant and machinery
344,225
388,457
Other operating leases
1,050
1,050
Depreciation - owned assets
401,592
221,809
Depreciation - assets on hire purchases contracts
117,500
66,665
Profit on disposal of fixed assets
(25,397)
(10,522)
Auditors remuneration
10,800
image
11,000
image
2024 2023
£ £
Bad debts 151,971 145,357
Research and Development Costs - 400
Depreciation of tangible fixed assets 401,592 288,474
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 10,800 11,000
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5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 1,876,988 1,794,081
Social security costs 203,037 196,491
Other pension costs 52,631 45,014
2,132,656 2,035,586
6. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 8 7
Directors 3 3
Direct Labour 34 31
45 41
7. Directors' remuneration
2024 2023
£ £
Emoluments 118,707 118,011
Company contributions to money purchase pension schemes 5,486 1,321
124,193 119,332
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
Money purchase pension schemes 1 1
2024
2023
Benefits in kind - aggregate of all directors
5,191
image
4,495
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8. Interest Payable and Similar Charges
2024 2023
£ £
Finance charges payable under finance leases and hire purchase contracts - 564
Other finance charges 4,546 29,265
4,546 29,829
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9. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 19.0% 79,600 204,143
Deferred Tax
Deferred taxation 169,362 2,867
Total tax charge for the period 248,962 207,010
The movement in the deferred tax provision is due to accelerated capital allowances.
The tax assessed for the year ended 30 04 2023 was higher than the standard rate of corporation tax in the UK at 19.493% which consists of: 19% for 335 days and 25% for 30 days of that year.
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 988,957 887,792
Tax on profit at 25% (UK standard rate) 258,990 173,057
Goodwill/depreciation not allowed for tax - 56,232
Expenses not deductible for tax purposes 1,722 1,467
Capital allowances - (24,110 )
Short term timing differences - 2,867
Research and Development tax credit - (452 )
Revenue exempt from taxation - (2,051 )
Total tax charge for the period 260,712 207,010
10. Tangible Assets
Land & Property
Freehold Improvements to property Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 May 2023 450,077 120,186 1,481,361 857,690
Additions - - 545,703 545,880
Disposals - - (395,687 ) (23,500 )
As at 30 April 2024 450,077 120,186 1,631,377 1,380,070
Depreciation
As at 1 May 2023 - 87,309 1,033,687 679,398
Provided during the period - 4,931 208,712 179,649
Disposals - - (237,161 ) (17,923 )
As at 30 April 2024 - 92,240 1,005,238 841,124
...CONTINUED
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Net Book Value
As at 30 April 2024 450,077 27,946 626,139 538,946
As at 1 May 2023 450,077 32,877 447,674 178,292
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 6,482 60,341 2,976,137
Additions 11,295 1,200 1,104,078
Disposals - - (419,187 )
As at 30 April 2024 17,777 61,541 3,661,028
Depreciation
As at 1 May 2023 5,849 40,273 1,846,516
Provided during the period 2,982 5,318 401,592
Disposals - - (255,084 )
As at 30 April 2024 8,831 45,591 1,993,024
Net Book Value
As at 30 April 2024 8,946 15,950 1,668,004
As at 1 May 2023 633 20,068 1,129,621
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows: as at 30/04/2024 £352,500 (nil as at 30/04/2023):
The hire purchase agreements are secured against the assets to which they relate.
11. Stocks
2024 2023
£ £
Stock 19,948 12,053
12. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,417,721 2,854,209
Other debtors 429,083 316,964
2,846,804 3,171,173
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13. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 237,150 -
Trade creditors 1,817,562 2,088,798
Other creditors 3,725 2,338
Corporation tax 264,762 473,562
Taxation and social security 43,947 59,888
Accruals and deferred income 63,798 63,301
2,430,944 2,687,887
14. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 237,150 -
15. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 May 2023 121,075 222,328 343,403
Deferred taxation 169,362 - 169,362
Balance at 30 April 2024 290,437 222,328 512,765
The increase in the deferred tax provision is due to accelerated capital allowances.
16. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
17. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £52,631 (2023: £45,014).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
18. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 728,000 728,000
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