REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
DAWSON CONSTRUCTION PLANT LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
DAWSON CONSTRUCTION PLANT LIMITED |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
DAWSON CONSTRUCTION PLANT LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
1 Rushmills |
Bedford Road |
Northampton |
Northamptonshire |
NN4 7YB |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
BALANCE SHEET |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Dawson Construction Plant Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Smaller Entities" of Financial Reporting Standard FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Companies Act 2006. |
There were no material departures that standard. |
Functional and presentational currency |
The Company's functional and presentational currency is GBP. |
Going concern |
The use of the going concern policy basis of accounting is appropriate because the directors are satisfied, having prepared trading and cashflow forecasts, that there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
Significant judgements and estimates |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
Fixed asset's residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. This is based on the directors knowledge of the business and industry. The effect of any change is accounted for prospectively. |
The company supplies and hires equipment which is subject to changing customer demands and technological change. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. Management consider the nature and condition of stock, as well as apply assumptions around expected future demand for the stock, when calculating the level stock provisioning. |
Turnover |
The turnover shown in the profit and loss account represents the value of services rendered during the period. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards have been transferred to the customer. |
Rental income from operating leases are in profit or loss on a straight-line basis over the lease term. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated |
residual value of each asset over its estimated useful life or, if held under a finance lease, over the |
lease term, whichever is the shorter. |
Freehold property - Straight line over 3, 5 and 50 years (Land is not depreciated) |
Plant and machinery - Straight line over 2 years to 20 years |
Fixtures and fittings - 10-33% on cost |
Motor vehicles - 20-33% on cost |
Computer equipment - 10-33% on cost |
Tangible fixed assets are initially recorded at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated on an average cost basis. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Included in cost of land and buildings is freehold land of £ 2,692,144 (2023 - £ 2,692,144 ) which is not depreciated. |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 2 Chesney Wold, Bleak Hill, Milton Keynes, MK6 1NE |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 4650 NE Birmingham Road, Kansas City, Missouri, 64117, USA |
Nature of business: |
% |
Class of shares: | holding |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
6. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
Work-in-progress |
Finished goods |
Included within stock are items which are held under hire purchase contracts amounting to £539,823 (2023: £162,983). |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Hire purchase contracts (see note 10) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,620,514 | 1,723,288 |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
10. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 852,466 | 602,344 |
The bank loan is secured against the freehold property of the company. |
Hire purchase contracts are secured against the assets to which they relate. |
12. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 560,378 | 593,744 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year | ( |
) |
Balance at 30 April 2024 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 71,483 | 71,483 |
B Ordinary | 1 | 32,927 | 65,086 |
Non-Voting Ordinary C | 1 | 250 | 250 |
104,660 | 136,819 |
The ordinary B shares are non voting, give no rights to the company's assets on winding up, are repayable on a sale of shares by the controlling shareholder and can be bought back at any time at the discretion of the company. |
During the year £32,159 (2023: £27,890) ordinary B shares were repurchased for consideration of £189,738 (2023: £164,551). |
DAWSON CONSTRUCTION PLANT LIMITED (REGISTERED NUMBER: 01057078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
15. | CONTINGENT LIABILITIES |
A composite company unlimited multilateral guarantee has been given to HSBC by Dawson Construction Plant Limited and by Dawson Contract Piling Limited to secure all liabilities of each other. |
16. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
17. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
18. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |