IRIS Accounts Production v24.3.2.46 03693408 Board of Directors 1.4.23 30.4.24 30.4.24 Medium entities motorway fencing, repair, construction and associated traffic management. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 'A' 1.00000 Ordinary B 1.00000 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REGISTERED NUMBER: 03693408 (England and Wales)
















































Strategic Report, Report of the Directors and

Financial Statements

for the Period 1 April 2023 to 30 April 2024

for

CD Fencing & Construction Services
Limited

CD Fencing & Construction Services
Limited (Registered number: 03693408)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


CD Fencing & Construction Services
Limited

Company Information
for the Period 1 April 2023 to 30 April 2024







DIRECTORS: C Davies
M J Millington
J McGuire
R Found
S Reid
A MacCuish





SECRETARY: Mrs S M Davies





REGISTERED OFFICE: Cocklebury Road
Chippenham
Wiltshire
SN15 3QE





REGISTERED NUMBER: 03693408 (England and Wales)





AUDITORS: Mander Duffill
Chartered Accountants & Statutory Auditor
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Strategic Report
for the Period 1 April 2023 to 30 April 2024

The directors present their strategic report for the period 1 April 2023 to 30 April 2024.

REVIEW OF BUSINESS
CD Fencing & Construction Services Ltd are specialists in the provision of Vehicle Restraint Systems, Parapets, Environmental Noise Barriers, General Fencing, Traffic Management and Minor Civil Engineering. We offer a fully integrated service as a collective package or separately to meet our clients' requirements. The company services also include surveying, inspections, assisting with design, specialist vehicle hire, plant and vehicle maintenance.

PRINCIPAL RISKS AND UNCERTAINTIES
The principle risks and uncertainties are established and continually mapped out on the company risk management register which is reviewed regularly by the Board. The review is a robust assessment of the principle risks that the company faces, the controls in place to remove or mitigate these risks and whether these risks represent new, increased or decreased threats. Some of the principle risks are described below.

Health and Safety:
The company works on significant, complex and potentially hazardous projects which require continuous monitoring and management of health and safety risks. Failure to manage these risks gives the potential for significant harm, including fatal or life changing injuries to employees, subcontractor staff or members of the public, as well as criminal prosecutions, significant fines, debarring from contract bidding and reputational damage. CDF&CSL has in place an overarching integrated Management System comprising policies and procedures to minimise such risks. This strategy and its action plans are reviewed and monitored by senior management and external verification bodies.

Uncertainty with our Economic Environment:
Failure to plan for any potentially negative impacts, or to capture any opportunities that may be presented.
Customers postponing, reducing or changing expenditure plans.
Raw material prices have increased to unprecented levels and inflation remains high which will have an impact on sales and profitability going forward.
Energy and fuel costs have increased to unprecedented levels which will have an impact on profitability going forward.
Restrictions on the availability of skilled labour and competitively priced materials could lead to increased costs and hence potentially a devaluation of the business.

Market Competition:
Intensifying competition from existing and new market players poses a threat to our market share and profitability.

Supply Chain Disruptions:
The global supply chain disruptions and raw material shortages have the potential to impact our suppliers production and distribution capabilities.
Increased supply chain risks through insolvency.

Regulatory Compliance in Transport Operations:
Ensuring that the company's transport operations are fit for purpose and fully compliant with all relevant legislation, as well as meeting the requirements set forth by traffic commissioners, is crucial. Non-compliance could lead to fines, operational disruptions, and reputational harm.

Climate Change:
The changing global climate generates a number of risks and opportunities for CDF&CSL the impact of which, and mitigations against, are considered and reviewed as part of the company risk management process. The most significant elements have been identified to be changes in environmental legislation, vehicle and plant procurement and weather-related events.


CD Fencing & Construction Services
Limited (Registered number: 03693408)

Strategic Report
for the Period 1 April 2023 to 30 April 2024

PRINCIPAL RISKS AND UNCERTAINTIES CONTINUED
Cybersecurity Threats:
The rise in cyber threats and data breaches poses a significant risk to our IT infrastructure and sensitive information.

Sustainability Integration:
Heightened societal and regulatory focus on sustainability presents both opportunities and challenges. Failure to adapt to evolving sustainability standards and client preferences may result in reputational damage and loss of projects.

Environmental Impact:
Increasing scrutiny on the environmental impact of business operations poses a challenge, particularly with regard to carbon emissions, waste management, and resource consumption.

KEY PERFORMANCE INDICATORS
The principal indicators used to measure the performance of the company over the last twelve months are:
Health, safety, environment, and sustainability
Leadership
Engagement and morale
Resources, equipment, and tools for the job
Understanding the company's strategy, values, and behaviours
Future, change and innovation
Customer Satisfaction
Order intake and profitability
Repeat business and referrals

YEAR END POSITION
The company's position remains strong.

ON BEHALF OF THE BOARD:





C Davies - Director


29 January 2025

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Report of the Directors
for the Period 1 April 2023 to 30 April 2024

The directors present their report with the financial statements of the company for the period 1 April 2023 to 30 April 2024.

DIVIDENDS
The total distribution of dividends for the period ended 30 April 2024 will be £ 884,000 .

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

C Davies
M J Millington
J McGuire
R Found
S Reid
A MacCuish

FINANCIAL INSTRUMENTS
The company uses various financial instruments including loans, cash, equity, capital and various items such as trade debtors and creditors that arise directly from its operations. the main purpose of these financial instruments is to raise finance for company operations.

Exposure to foreign currency, credit, liquidity and cash flow interest rate risks arise in the normal course of the company business. These risks are limited by the company's financial management policies and practices described below.

Market risk
Market risk encompasses three types of risk being price risk, interest rate risk and currency risk.

Price risk
The company operates in a competitive market. If the company does not continue to compete effectively by developing its product range and responding to activities in the market it could lose customers and its results, cash flow and financial conditions could adversely be affected.

Interest rate risk
The company's overdraft and cash at bank incur interest cost or income at market rates and the company is therefore exposed to interest rate risk. The company is also exposed to interest rate risk through the impact of rate changes on interest-bearing borrowings. The company's policy is to obtain the most favourable interest rates available for its borrowings. The company does not use and derivative instruments to reduce its economic exposure to changes in interest rates.

Foreign currency risk
The company makes purchases from suppliers from a number of suppliers whose invoices are denominated in currencies other than sterling. The company also make sales to customers denominated in currencies other than sterling. The most frequently used currencies other than sterling are the Euro and the US Dollar.

Credit risk
The company's principal assets are cash deposits and trade debtors. The credit risk associated with cash deposits is limited as the accounts are held with major UK high street banks only. The principal credit risk arises therefore from its trade debtors and the company manages closely its exposure to bad debts by strong credit control, credit checks for new accounts and credit insurance.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The company policy throughout the year has been to hold cash balances in readily accessible cash deposits.


CD Fencing & Construction Services
Limited (Registered number: 03693408)

Report of the Directors
for the Period 1 April 2023 to 30 April 2024

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.

AUDITORS
The auditors, Mander Duffill, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C Davies - Director


29 January 2025

Report of the Independent Auditors to the Members of
CD Fencing & Construction Services
Limited

Opinion
We have audited the financial statements of CD Fencing & Construction Services Limited (the 'company') for the period ended 30 April 2024 which comprise the Statement of 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 period 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
CD Fencing & Construction Services
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 five, 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.

n planning and designing our audit tests, we identify and assess the risks of material mis-statements, whether due to fraud or error. Our risk assessment procedures included:

- Enquiries of management about the entities policies and procedures on compliance with laws and regulations and whether they were aware of any instances of noncompliance together with the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
- Enquiries of management about the entities policies and procedures on fraud risks, including any actual, suspected or alleged fraud.
- Considered the nature of the industry and sector, control environment and business performance including the key drivers for directors' remuneration, bonus levels and performance targets.
- Reading minutes of meetings of those charged with governance.

We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Report of the Independent Auditors to the Members of
CD Fencing & Construction Services
Limited


We obtained an understanding of the legal and regulatory frameworks that the entity operates in, through discussions with the director, and from our commercial knowledge and experience of the sector in which the company operates, to enable us to identify the key laws and regulations applicable to the company. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statement or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls including the following:

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Enquiry of management concerning actual and potential litigation and claims.
- Reviewing correspondence with HMRC, and the company's legal advisors.
- Addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether judgements made in making accounting estimates are indicative of a potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud 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 at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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.




Richard Mander FCA (Senior Statutory Auditor)
for and on behalf of Mander Duffill
Chartered Accountants & Statutory Auditor
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

29 January 2025

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Statement of Comprehensive
Income
for the Period 1 April 2023 to 30 April 2024

Period
1.4.23
to Year Ended
30.4.24 31.3.23
Notes £    £   

TURNOVER 12,998,861 11,981,437

Cost of sales 8,206,503 7,352,291
GROSS PROFIT 4,792,358 4,629,146

Administrative expenses 3,258,486 2,694,595
1,533,872 1,934,551

Other operating income 29,800 13,550
OPERATING PROFIT 4 1,563,672 1,948,101

Interest receivable and similar income 54,925 8,737
1,618,597 1,956,838

Interest payable and similar expenses 5 73,132 39,695
PROFIT BEFORE TAXATION 1,545,465 1,917,143

Tax on profit 6 395,962 456,231
PROFIT FOR THE FINANCIAL PERIOD 1,149,503 1,460,912

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

1,149,503

1,460,912

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Balance Sheet
30 April 2024

30.4.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 3,660,686 3,421,351

CURRENT ASSETS
Stocks 9 25,972 159,470
Debtors 10 2,122,816 1,632,962
Cash at bank and in hand 2,132,100 2,157,476
4,280,888 3,949,908
CREDITORS
Amounts falling due within one year 11 1,449,069 1,289,621
NET CURRENT ASSETS 2,831,819 2,660,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,492,505

6,081,638

CREDITORS
Amounts falling due after more than one
year

12

(794,863

)

(708,760

)

PROVISIONS FOR LIABILITIES 16 (532,581 ) (473,320 )
NET ASSETS 5,165,061 4,899,558

CAPITAL AND RESERVES
Called up share capital 17 99 99
Retained earnings 18 5,164,962 4,899,459
SHAREHOLDERS' FUNDS 5,165,061 4,899,558

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





C Davies - Director


CD Fencing & Construction Services
Limited (Registered number: 03693408)

Statement of Changes in Equity
for the Period 1 April 2023 to 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 99 3,880,547 3,880,646

Changes in equity
Dividends - (442,000 ) (442,000 )
Total comprehensive income - 1,460,912 1,460,912
Balance at 31 March 2023 99 4,899,459 4,899,558

Changes in equity
Dividends - (884,000 ) (884,000 )
Total comprehensive income - 1,149,503 1,149,503
Balance at 30 April 2024 99 5,164,962 5,165,061

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Cash Flow Statement
for the Period 1 April 2023 to 30 April 2024

Period
1.4.23
to Year Ended
30.4.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,822,200 2,542,117
Interest paid (48,666 ) (32,317 )
Interest element of hire purchase
payments paid

(24,466

)

(7,378

)
Tax paid (265,227 ) (101,689 )
Net cash from operating activities 1,483,841 2,400,733

Cash flows from investing activities
Purchase of tangible fixed assets (380,866 ) (758,304 )
Sale of tangible fixed assets 22,812 25,307
Interest received 54,925 8,737
Net cash from investing activities (303,129 ) (724,260 )

Cash flows from financing activities
New loans in year - 101,089
Loan repayments in year (106,843 ) (202,177 )
Capital repayments in year (217,475 ) (118,782 )
Amount withdrawn by directors 2,230 (1,069 )
Equity dividends paid (884,000 ) (442,000 )
Net cash from financing activities (1,206,088 ) (662,939 )

(Decrease)/increase in cash and cash equivalents (25,376 ) 1,013,534
Cash and cash equivalents at
beginning of period

2

2,157,476

1,143,942

Cash and cash equivalents at end of
period

2

2,132,100

2,157,476

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Cash Flow Statement
for the Period 1 April 2023 to 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Profit before taxation 1,545,465 1,917,143
Depreciation charges 552,666 457,151
Loss on disposal of fixed assets 9,454 29,889
Finance costs 73,132 39,695
Finance income (54,925 ) (8,737 )
2,125,792 2,435,141
Decrease/(increase) in stocks 133,498 (45,873 )
(Increase)/decrease in trade and other debtors (489,854 ) 72,457
Increase in trade and other creditors 52,764 80,392
Cash generated from operations 1,822,200 2,542,117

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:

Period ended 30 April 2024
30.4.24 1.4.23
£    £   
Cash and cash equivalents 2,132,100 2,157,476
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,157,476 1,143,942


CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Cash Flow Statement
for the Period 1 April 2023 to 30 April 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.4.23 Cash flow changes At 30.4.24
£    £    £    £   
Net cash
Cash at bank
and in hand 2,157,476 (25,376 ) 2,132,100
2,157,476 (25,376 ) 2,132,100
Debt
Finance leases (206,388 ) 217,475 (443,400 ) (432,313 )
Debts falling due
within 1 year (106,963 ) 3,790 - (103,173 )
Debts falling due
after 1 year (618,819 ) 103,052 - (515,767 )
(932,170 ) 324,317 (443,400 ) (1,051,253 )
Total 1,225,306 298,941 (443,400 ) 1,080,847

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 April 2024

1. STATUTORY INFORMATION

CD Fencing & Construction Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced work done, excluding value added tax.


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 - 2% on cost on buildings only
Plant and machinery - 15% on reducing balance
Office equipment - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Freehold land is not depreciated.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the 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 period 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.

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

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
Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Wages and salaries 4,436,788 3,626,448
Social security costs 110,576 85,985
Other pension costs 19,755 14,948
4,567,119 3,727,381

The average number of employees during the period was as follows:
Period
1.4.23
to Year Ended
30.4.24 31.3.23

Directors 5 5
Operational 67 62
72 67

Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Directors' remuneration 40,755 27,360

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Depreciation - owned assets 475,812 396,879
Depreciation - assets on hire purchase contracts 76,853 60,273
Loss on disposal of fixed assets 9,454 29,889

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Loan interest 48,666 32,317
Hire purchase 24,466 7,378
73,132 39,695

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Current tax:
UK corporation tax 336,701 265,227

Deferred tax 59,261 191,004
Tax on profit 395,962 456,231

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

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Profit before tax 1,545,465 1,917,143
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

386,366

364,257

Effects of:
Expenses not deductible for tax purposes - 3,555
Deferred tax provided at std rate - 113,597
Other adjustments 9,596 (25,178 )
Total tax charge 395,962 456,231

7. DIVIDENDS
Period
1.4.23
to Year Ended
30.4.24 31.3.23
£    £   
Ordinary 'A' shares of £1 each
Dividend - paid in the year 442,000 221,000
Ordinary B shares of £1 each
Dividend - paid in the year 442,000 221,000
884,000 442,000

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

8. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 1,569,936 - 838,832
Additions - 61,264 36,413
Disposals - - -
At 30 April 2024 1,569,936 61,264 875,245
DEPRECIATION
At 1 April 2023 41,864 - 467,611
Charge for period - 2,451 60,152
Eliminated on disposal - - -
At 30 April 2024 41,864 2,451 527,763
NET BOOK VALUE
At 30 April 2024 1,528,072 58,813 347,482
At 31 March 2023 1,528,072 - 371,221

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 192,363 2,590,222 179,838 5,371,191
Additions 75,434 618,787 32,368 824,266
Disposals - (161,134 ) - (161,134 )
At 30 April 2024 267,797 3,047,875 212,206 6,034,323
DEPRECIATION
At 1 April 2023 126,967 1,182,096 131,302 1,949,840
Charge for period 23,605 439,952 26,505 552,665
Eliminated on disposal - (128,868 ) - (128,868 )
At 30 April 2024 150,572 1,493,180 157,807 2,373,637
NET BOOK VALUE
At 30 April 2024 117,225 1,554,695 54,399 3,660,686
At 31 March 2023 65,396 1,408,126 48,536 3,421,351

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

8. TANGIBLE FIXED ASSETS - continued

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 April 2023
and 30 April 2024 86,309 403,234 489,543
DEPRECIATION
At 1 April 2023 24,629 132,842 157,471
Charge for period 9,252 67,601 76,853
At 30 April 2024 33,881 200,443 234,324
NET BOOK VALUE
At 30 April 2024 52,428 202,791 255,219
At 31 March 2023 61,680 270,392 332,072

9. STOCKS
30.4.24 31.3.23
£    £   
Stocks 25,972 159,470

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 31.3.23
£    £   
Trade debtors 1,675,785 1,217,101
Other debtors 446,364 328,944
Owed by related parties 667 86,917
2,122,816 1,632,962

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 31.3.23
£    £   
Bank loans and overdrafts (see note 13) 103,173 106,963
Hire purchase contracts (see note 14) 153,217 116,447
Trade creditors 342,458 627,162
Corporation tax 336,701 265,227
Other creditors 433,861 103,363
Owed to related parties 11,570 6,047
Directors' loan accounts 17,588 15,358
Accrued expenses 50,501 49,054
1,449,069 1,289,621

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 31.3.23
£    £   
Bank loans (see note 13) 515,767 618,819
Hire purchase contracts (see note 14) 279,096 89,941
794,863 708,760

13. LOANS

An analysis of the maturity of loans is given below:

30.4.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 103,173 106,963

Amounts falling due between one and two years:
Bank loans - 1-2 years 65,499 107,643

Amounts falling due between two and five years:
Bank loans - 2-5 years 170,847 192,080

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years 279,421 319,096

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.4.24 31.3.23
£    £   
Net obligations repayable:
Within one year 153,217 116,447
Between one and five years 279,096 89,941
432,313 206,388

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

15. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 31.3.23
£    £   
Bank loans 618,940 725,782
Hire purchase contracts 432,313 206,388
1,051,253 932,170

The company has a mortgage which is secured over the property to which it relates.

Hire purchase and finance lease liabilities are secured upon the fixed assets to which they relate.

16. PROVISIONS FOR LIABILITIES
30.4.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 532,581 473,320

Deferred
tax
£   
Balance at 1 April 2023 473,320
Provided during period 59,261
Balance at 30 April 2024 532,581

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 31.3.23
value: £    £   
96 Ordinary 'A' £1 96 96
3 Ordinary B £1 3 3
99 99

Each share is entitled to one vote in any circumstances.

18. RESERVES
Retained
earnings
£   

At 1 April 2023 4,899,459
Profit for the period 1,149,503
Dividends (884,000 )
At 30 April 2024 5,164,962

Retained earnings - includes all current and prior period retained profits and losses.

CD Fencing & Construction Services
Limited (Registered number: 03693408)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 April 2024

19. RELATED PARTY DISCLOSURES

Other related parties
30.4.24 31.3.23
£    £   
Amount due from related party 667 86,917
Amount due to related party 11,570 6,047

20. ULTIMATE CONTROLLING PARTY

Thre company is controlled its three directors C Davies, M J Millington and J McGuire.