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REGISTERED NUMBER: SC172244 (Scotland)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 April 2024

for

Central Demolition Limited

Central Demolition Limited (Registered number: SC172244)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Central Demolition Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr R J Craig
Mr C A Peat





SECRETARY: Mrs Y Rowland





REGISTERED OFFICE: Central House
Chattan Industrial Estate
Bonnyside Road
Bonnybridge
FK4 2AG





REGISTERED NUMBER: SC172244 (Scotland)





AUDITORS: Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

Central Demolition Limited (Registered number: SC172244)

Strategic Report
for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
The profit for the year, after taxation, amounted to £1,988 (2023 - £157,447).

The turnover increased by 8.5% to £13,233,738 due to improved market conditions. The gross profit margin, after accounting for the recovery of management charges from a group company, decreased to 18.9% (2023 - 20.8%).

The directors and senior management continue to focus on our well proven mainstream works and we continue to seek out and win targeted tender opportunities going forward.

We currently have a balanced workload and order book with ongoing opportunities although we are conscious of cost inflation within the sector that may be reflected in future trading results.

PRINCIPAL RISKS AND UNCERTAINTIES
Financial risk management

The company finances its operations through a mixture of retained profits, banking arrangements and hire purchase financing arrangements where necessary to fund capital expenditure.

The management's objectives are, through ongoing profitable trading, to retain sufficient funds to enable it to meet its day to day obligations as they fall due and match the repayment schedule of any external finance with the future cash flows expected to arise from trading activities and non trade debt repayments.

The company's credit risk is attributable to its trade debtors and other debtors arising from financing of non trade activities to related parties. In order to manage risk the directors set limits for trade customers based on a combination of payment history and third party references. Non trade other debtors can be monitored closely due to the directors involvement in such projects.

FUTURE OUTLOOK
As in the wider industry the demolition market continues to be challenging and unpredictable. However the directors are optimistic about future prospects for the industry and believe that the company is well placed to take advantage of any improvement in market conditions. The company is continually maintaining links with its valued existing client base and is looking to maintain current turnover levels in its core business market of demolition, asbestos removal and recycling.

ON BEHALF OF THE BOARD:





Mr R J Craig - Director


27 January 2025

Central Demolition Limited (Registered number: SC172244)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of of a demolition contractor.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

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

Mr R J Craig
Mr C A Peat

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr R J Craig - Director


27 January 2025

Report of the Independent Auditors to the Members of
Central Demolition Limited

Opinion
We have audited the financial statements of Central Demolition Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 30 April 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
Central Demolition Limited


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 three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mis-statements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by for example forgery or intentional misrepresentations or collusion.

We focused on laws and regulations which could give rise to a a material misstatement with the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation.

Our work included agreeing the financial statement disclosures to underlying supporting documentation accompanied by enquiries with management about any known or suspected instances of non-compliance with laws and regulations and fraud - and additionally - reviewing correspondence with regulators; challenging assumptions and judgements of management in relation to accounting estimates. We examined supporting documentation for material balances, transactions and disclosures.
We also addressed the risk of management over-ride of controls, including testing journal entries and other adjustments for appropriateness and payroll manipulation and segregation of duties.

There are inherent limitations in the audit procedure described above and the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Central Demolition Limited


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.




Stuart Girvan (Senior Statutory Auditor)
for and on behalf of Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

27 January 2025

Central Demolition Limited (Registered number: SC172244)

Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 3 13,233,738 12,192,653

Cost of sales 13,130,327 12,047,519
GROSS PROFIT 103,411 145,134

Administrative expenses 2,312,816 2,209,930
(2,209,405 ) (2,064,796 )

Other operating income 2,400,000 2,400,000
OPERATING PROFIT 5 190,595 335,204

Interest receivable and similar income 5,567 1,885
196,162 337,089

Interest payable and similar expenses 6 155,174 131,642
PROFIT BEFORE TAXATION 40,988 205,447

Tax on profit 7 39,000 48,000
PROFIT FOR THE FINANCIAL YEAR 1,988 157,447

Central Demolition Limited (Registered number: SC172244)

Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

PROFIT FOR THE YEAR 1,988 157,447


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,988

157,447

Central Demolition Limited (Registered number: SC172244)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 5,637,429 5,480,958

CURRENT ASSETS
Debtors 9 5,795,646 5,343,817
Cash at bank 74,050 957,071
5,869,696 6,300,888
CREDITORS
Amounts falling due within one year 10 2,534,766 2,619,675
NET CURRENT ASSETS 3,334,930 3,681,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,972,359

9,162,171

CREDITORS
Amounts falling due after more than one
year

11

(791,747

)

(1,022,547

)

PROVISIONS FOR LIABILITIES 15 (172,000 ) (133,000 )
NET ASSETS 8,008,612 8,006,624

CAPITAL AND RESERVES
Called up share capital 16 50,000 50,000
Retained earnings 17 7,958,612 7,956,624
SHAREHOLDERS' FUNDS 8,008,612 8,006,624

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mr R J Craig - Director


Central Demolition Limited (Registered number: SC172244)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 50,000 7,799,177 7,849,177

Changes in equity
Total comprehensive income - 157,447 157,447
Balance at 30 April 2023 50,000 7,956,624 8,006,624

Changes in equity
Total comprehensive income - 1,988 1,988
Balance at 30 April 2024 50,000 7,958,612 8,008,612

Central Demolition Limited (Registered number: SC172244)

Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 949,310 1,698,951
Interest paid (12,696 ) (11,093 )
Interest element of hire purchase payments
paid

(142,478

)

(120,549

)
Tax paid 196,871 -
Net cash from operating activities 991,007 1,567,309

Cash flows from investing activities
Purchase of tangible fixed assets (588,327 ) (426,805 )
Sale of tangible fixed assets 241,250 241,780
Interest received 5,567 1,885
Net cash from investing activities (341,510 ) (183,140 )

Cash flows from financing activities
Loan repayments in year (203,333 ) (46,667 )
Capital repayments in year (1,282,045 ) (1,091,376 )
Amount introduced by directors 553,422 489,487
Amount withdrawn by directors (582,625 ) (414,533 )
Funds transferred to/(from) Group (17,937 ) 349,634
Net cash from financing activities (1,532,518 ) (713,455 )

(Decrease)/increase in cash and cash equivalents (883,021 ) 670,714
Cash and cash equivalents at beginning of
year

2

957,071

286,357

Cash and cash equivalents at end of year 2 74,050 957,071

Central Demolition Limited (Registered number: SC172244)

Notes to the Cash Flow Statement
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.4.24 30.4.23
£    £   
Profit before taxation 40,988 205,447
Depreciation charges 1,375,196 1,412,885
Profit on disposal of fixed assets (119,774 ) (171,647 )
Finance costs 155,174 131,642
Finance income (5,567 ) (1,885 )
1,446,017 1,576,442
(Increase)/decrease in stocks (487,000 ) 347,000
Decrease/(increase) in trade and other debtors 82,312 (446,254 )
(Decrease)/increase in trade and other creditors (92,019 ) 221,763
Cash generated from operations 949,310 1,698,951

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 74,050 957,071
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 957,071 286,357


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.5.23 Cash flow changes At 30.4.24
£    £    £    £   
Net cash
Cash at bank 957,071 (883,021 ) 74,050
957,071 (883,021 ) 74,050
Debt
Finance leases (1,971,842 ) 1,282,045 - (1,754,613 )
Debts falling due
within 1 year (50,000 ) 50,000 - -
Debts falling due
after 1 year (153,333 ) 153,333 - -
(2,175,175 ) 1,485,378 - (1,754,613 )
Total (1,218,104 ) 602,357 - (1,680,563 )

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Central Demolition Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 presented in Sterling (£).

Significant judgements and estimates
Tangible fixed assets
Tangible fixed assets are depreciated over their estimated useful lives taking into account residual values, where appropriate. The actual lives and residual values are assessed annually. In re-assessing asset lives, factors such as technological innovation, asset life cycle, wear and tear and maintenance programmes are taken into account. Residual value assessment consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Going concern forecasts
The directors have used significant judgement in preparing forecasts for the period of 12 months following the signing of the financial statements. These forecasts have been used by the directors in making their assessment of going concern.

Turnover
Turnover represents net invoiced sales and work completed on long term contracts, excluding value added tax.

Turnover on demolition contracts is recognised according to the stage reached in the contract by reference to work completed. Turnover from sales of scrap and other materials is recognised when ownership of goods has passed to the buyer on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided on land
Improvements to property - Over expected lease term
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and bank balances are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Long term contracts
The contracts undertaken by the company are deemed to be of a long term nature. Long term contract work in progress shown at net cost after deducting foreseeable losses and payments on account. Turnover on long term contracts is determined on the basis of certified valuations representing measured work on contracts. Operating profit includes attributable profit on long term contracts complete and amounts recoverable on contracts incomplete, the latter also being included under debtors due within one year.


Going concern
The directors are satisfied as to the company's ability to continue as a going concern for the foreseeable future. In coming to this conclusion, the directors have reviewed both the company's current financial position and the projected profit and cash flow forecasts for a period in excess of one year from the date of approval. The directors therefore consider it appropriate to adopt the going concern basis in preparing its financial statements.

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. TURNOVER

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

An analysis of turnover by class of business is given below:

30.4.24 30.4.23
£    £   
Demolition 10,383,757 9,808,147
Sale of scrap & materials etc 2,849,981 2,384,506
13,233,738 12,192,653

An analysis of turnover by geographical market is given below:

30.4.24 30.4.23
£    £   
United Kingdom 13,233,738 12,192,653
13,233,738 12,192,653

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Turnover is attributable to one continuing activity, that of demolition, dismantling and associated scrap sales.

4. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 5,713,693 5,281,320
Social security costs 608,930 568,115
Other pension costs 152,456 146,398
6,475,079 5,995,833

The average number of employees during the year was as follows:
30.4.24 30.4.23

Administration 21 20
Demolition 119 118
140 138

30.4.24 30.4.23
£    £   
Directors' remuneration 540,001 540,001
Directors' pension contributions to money purchase schemes 25,321 24,000

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

Money purchase schemes 2 2

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
30.4.24 30.4.23
£    £   
Emoluments etc 270,001 320,000
Pension contributions to money purchase schemes 12,000 12,000

5. OPERATING PROFIT

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

30.4.24 30.4.23
£    £   
Hire of plant and machinery 303,886 278,553
Other operating leases 3,092 3,192
Depreciation - owned assets 664,466 493,203
Depreciation - assets on hire purchase contracts 710,730 919,682
Profit on disposal of fixed assets (119,774 ) (171,647 )
Auditors' remuneration 9,750 9,400
Auditors' remuneration for non audit work 6,695 6,795

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
£    £   
Bank loan interest 12,696 11,093
Hire purchase 142,478 120,549
155,174 131,642

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
£    £   
Deferred tax 39,000 48,000
Tax on profit 39,000 48,000

UK corporation tax has been charged at 25% (2023 - 19%).

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. TAXATION - continued

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:

30.4.24 30.4.23
£    £   
Profit before tax 40,988 205,447
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

10,247

39,035

Effects of:
Depreciation in excess of capital allowances 28,753 8,965
tax credit rate

Total tax charge 39,000 48,000

8. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 283,900 836,985 12,285,921
Additions - - 159,607
Disposals - - (1,038,147 )
At 30 April 2024 283,900 836,985 11,407,381
DEPRECIATION
At 1 May 2023 - 579,697 8,999,325
Charge for year - 32,160 843,310
Eliminated on disposal - - (1,032,985 )
At 30 April 2024 - 611,857 8,809,650
NET BOOK VALUE
At 30 April 2024 283,900 225,128 2,597,731
At 30 April 2023 283,900 257,288 3,286,596

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 4,892,554 399,917 18,699,277
Additions 1,483,633 9,903 1,653,143
Disposals (983,712 ) (203,985 ) (2,225,844 )
At 30 April 2024 5,392,475 205,835 18,126,576
DEPRECIATION
At 1 May 2023 3,279,461 359,836 13,218,319
Charge for year 489,735 9,991 1,375,196
Eliminated on disposal (870,619 ) (200,764 ) (2,104,368 )
At 30 April 2024 2,898,577 169,063 12,489,147
NET BOOK VALUE
At 30 April 2024 2,493,898 36,772 5,637,429
At 30 April 2023 1,613,093 40,081 5,480,958

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 2,722,455 1,609,320 4,331,775
Additions - 1,344,702 1,344,702
Transfer to ownership (366,350 ) (737,613 ) (1,103,963 )
At 30 April 2024 2,356,105 2,216,409 4,572,514
DEPRECIATION
At 1 May 2023 741,321 539,955 1,281,276
Charge for year 442,913 267,817 710,730
Transfer to ownership (156,865 ) (269,794 ) (426,659 )
At 30 April 2024 1,027,369 537,978 1,565,347
NET BOOK VALUE
At 30 April 2024 1,328,736 1,678,431 3,007,167
At 30 April 2023 1,981,134 1,069,365 3,050,499

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 407,199 725,425
Amounts owed by group undertakings 219,419 201,482
Amounts recoverable on contract 1,576,000 1,089,000
Other debtors 159,722 200,090
Chieftain Contracts Limited - (16,961 )
Broomside Property Development 432,584 462,584
Clydeside Property Services Limited 2,687,621 2,416,299
Directors' current accounts 277,101 247,898
Prepayments and accrued income 36,000 18,000
5,795,646 5,343,817

Debtors includes amounts with no fixed repayment terms and as such they are treated as being due within one year. The amount of £2,687,621 (2023 - £2,416,299) due from Clydeside Property Services Ltd is related to a long term property development and therefore may not be repaid within one year.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 12) - 50,000
Hire purchase contracts (see note 13) 962,866 1,102,628
Trade creditors 463,156 531,816
Tax (84,123 ) (280,994 )
Social security and other taxes 186,768 142,570
VAT 442,688 168,666
Other creditors 199,548 197,570
Accruals and deferred income - 239,000
Accrued expenses 363,863 468,419
2,534,766 2,619,675

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 12) - 153,333
Hire purchase contracts (see note 13) 791,747 869,214
791,747 1,022,547

12. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 50,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 50,000

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. LOANS - continued
30.4.24 30.4.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 103,333

13. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 962,866 1,102,628
Between one and five years 791,747 869,214
1,754,613 1,971,842

14. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans - 203,333
Hire purchase contracts 1,754,613 1,971,842
1,754,613 2,175,175

Bank borrowings are secured by way of a bond and floating charge over the assets of the company.

An unlimited inter company guarantee also exists in favour of Central Recycling Limited.

15. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 172,000 133,000

Deferred
tax
£   
Balance at 1 May 2023 133,000
Charged to the Profit & Loss 39,000
Balance at 30 April 2024 172,000

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
50,000 Ordinary £1 50,000 50,000

Central Demolition Limited (Registered number: SC172244)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

17. RESERVES
Retained
earnings
£   

At 1 May 2023 7,956,624
Profit for the year 1,988
At 30 April 2024 7,958,612

18. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the director and it's senior staff. The contributions paid into the scheme during the year amounted to £152,456 (2023 - £146,398).

19. ULTIMATE PARENT COMPANY

Central Group Holdings Limited is regarded by the directors as being the company's ultimate parent company.

20. CONTINGENT LIABILITIES

An unlimited inter company guarantee exists in favour of Central Recycling Limited.

A third party company guarantee exists in favour of The Royal Bank of Scotland Plc (to a limit of £2,113,621). This relates to loan finance provided to Clydeside Property Services Ltd ; supported by a bond and floating charge. The balance of the finance serviced by Central Demolition Ltd in this regard was £676,264 at 30 April 2024.

21. RELATED PARTY DISCLOSURES

Other operating income includes £2,400,000 (2023 - £2,400,000) for the provision of management services to Central Recycling Ltd. Cost of sales includes - £99,265 (2023 - £101,368) for services provided by Central Demolition Recycling Ltd. Other debtors includes £277,101 (2023 - £247,898) due by the directors.

Included within trade and other debtors / (trade creditors) are:
30.4.2430.4.23
£   £   
Chieftain Contracts Limited279,352279,352
(a company controlled by the directors)
Central Demolition Recycling Limited 2,639(85,325)
(a company controlled by a director))
Broomside Property Developments432,584462,584
(an entity in which the directors are partners)
Clydeside Property Services Limited2,687,6212,416,299
(a company controlled by the directors)
Central Recycling Ltd219,419201,482
(a company controlled by the directors)



22. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R J Craig.