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Registered number: 08503041
Rr Groundworks Limited
Strategic Report, Director's Report and
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Strategic Report 1—2
Director's Report 3—4
Independent Auditor's Report 5—8
Profit and Loss Account 9
Statement of Comprehensive Income 10
Balance Sheet 11—12
Statement of Changes in Equity 13
Statement of Cash Flows 14
Notes to the Statement of Cash Flows 15
Notes to the Financial Statements 16—22
Page 1
Strategic Report
The director presents his strategic report for the year ended 30 April 2024.
Review of the Business
The trading results for the year along with the company’s financial position is shown in the attached financial statements.
2023 traded in a busy start to the year with new clients being added to our portfolio which increased our revenue for the better, albeit they were at a lower margin given the fact of not many clients moving forward at pace with builds due to the mortgage interest rates, inflation as well as industry confidence. With this plus the new regulations coming in there was a big push for June 15th,  at a minimum we had to get foundations in the ground for our clients so they did not get affected by these regulations. 
The second half of the year did start to feel a slowdown as we were being further restricted by our clients due to mortgage rates as well as the uncertainty of the government’s next move(s) and what they were going to do / who was going to be in control. These issues with a lower margin to work with at much slower output has caused a decrease in revenue as well as profits. 
There are no long-term concerns over future trading as we are already being told by clients as well as the government that things are back to picking up pace in the industry with a push in the house building sector, which will help revenue / profits increase in the coming months. With a strong confidence with our ongoing clients we are forecasting a strong year ahead with steady growth to be achieved over the next coming years.
Key performance indicators (KPIs) 
We as a business continually throughout the year review project performances in respect to margins, if we see any projects that are finding issues out of the ordinary, we will further review these in depth to ensure we fix whats happening in aid to prevent the issue continuing. At this stage further KPIs are not necessary, they will only delay progress. 
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Principal Risks and Uncertainties
The Directors consider that the principle operational risks faced by the company are as follows 
  • Material prices can be significantly impacted by changes in demand, relationships, supply chain, governments decisions
  • Labour supply, the shortage in getting correctly skilled labour is a continued impact on the industry which does feel to be getting worse as the years go on. 
  • Economic downturn, the industry is driven by the status of the economic climate, with government being in such state along with the uncertainty of house sales due to the above is also on ongoing countrywide concern. 
Financial risk management 
We consider that the financial risks faced by the company are as follows, 
  • The uncertainty of the industry investing further in development due to an instability in the economy would have an impact on turnover, this is manly aimed at the government now in charge and their actions with, planning reform, interest rates, inflation etc. 
  • Company wide credit checks and due diligence on all debtors for which the company opts to use. 
Liquidity risk 
The company produces cash flow forecasts along with progress forecasts to enable us to catch any issues that may arise, continuing to ensure that cash balances are in place to meet obligations as they are due. 
Going concerns
We have considered the impact of the principal risks and uncertainties on the business and produced cash as well as trading forecasts reflecting several possible scenarios.   
We do not see any significant uncertainties in respect of preparing the financial statement. 
On behalf of the board
Mr R Rowland
Director
22/01/2025
Page 2
Page 3
Director's Report
The director presents his report and the financial statements for the year ended 30 April 2024.
Directors
The director who held office during the year were as follows:
Mr R Rowland
Statement of Director's Responsibilities
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Director's Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, BSN Associates Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr R Rowland
Director
22/01/2025
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Independent Auditor's Report
Opinion
We have audited the financial statements of Rr Groundworks Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.
Matters on Which We Are Required to Report by Exception
In the light of 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 Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of director's remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Director's Responsibilities Statement set out on page 3—4, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Irregularities that result from fraud might be inherently more difficult than irregularities that result from error, which gives rise to a risk of material misstatement. We are of the opinion that the planned audit approach, the documentation and interrogation of the entity's controls means that the audit procedures carried out were capable of detecting irregularities, including fraud. We have also reviewed financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. We have audited the risk of management override of controls, through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. We have also made enquiries of entity staff in tax and compliance functions to identify any instances of noncompliance with laws and regulations.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Comparative figures
The comparative figures have not been audited.
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Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Philippa Miller-Hawkes BA CA (Senior Statutory Auditor)
for and on behalf of BSN Associates Limited , Statutory Auditor
22/01/2025
BSN Associates Limited
38 Swallowfield Courtyard
Wolverhampton Road
Oldbury
West Midlands
B69 2JG
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3 38,979,032 21,911,425
Cost of sales (34,551,551 ) (17,376,107 )
GROSS PROFIT 4,427,481 4,535,318
Administrative expenses (4,216,814 ) (2,781,088 )
OPERATING PROFIT 4 210,667 1,754,230
Profit on disposal of fixed assets 11,831 11,999
Other interest receivable and similar income 9 1,887 -
Interest payable and similar charges 10 (35,495 ) (31,170 )
PROFIT BEFORE TAXATION 188,890 1,735,059
Tax on Profit 11 (179,491 ) (290,080 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 9,399 1,444,979
The notes on pages 15 to 22 form part of these financial statements.
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Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 9,399 1,444,979
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 9,399 1,444,979
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Balance Sheet
Registered number: 08503041
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 965,767 1,163,194
965,767 1,163,194
CURRENT ASSETS
Debtors 13 11,302,702 4,892,357
Cash at bank and in hand 1,155,648 353,712
12,458,350 5,246,069
Creditors: Amounts Falling Due Within One Year 14 (10,196,006 ) (2,941,897 )
NET CURRENT ASSETS (LIABILITIES) 2,262,344 2,304,172
TOTAL ASSETS LESS CURRENT LIABILITIES 3,228,111 3,467,366
Creditors: Amounts Falling Due After More Than One Year 15 (226,096 ) (466,192 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 17 (66,442 ) -
NET ASSETS 2,935,573 3,001,174
CAPITAL AND RESERVES
Called up share capital 18 100 100
Profit and Loss Account 2,935,473 3,001,074
SHAREHOLDERS' FUNDS 2,935,573 3,001,174
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On behalf of the board
Mr R Rowland
Director
22/01/2025
The notes on pages 15 to 22 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 May 2022 100 1,687,194 1,687,294
Profit for the year and total comprehensive income - 1,444,979 1,444,979
Dividends paid - (131,099) (131,099)
As at 30 April 2023 and 1 May 2023 100 3,001,074 3,001,174
Profit for the year and total comprehensive income - 9,399 9,399
Dividends paid - (75,000) (75,000)
As at 30 April 2024 100 2,935,473 2,935,573
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 1,603,989 520,501
Interest paid (35,495 ) (31,170 )
Tax (paid)/refunded (368,184 ) 78,104
Net cash generated from operating activities 1,200,310 567,435
Cash flows from investing activities
Purchase of tangible assets (99,258 ) (122,898 )
Proceeds from disposal of tangible assets 52,000 39,800
Interest received 1,887 -
Net cash used in investing activities (45,371 ) (83,098 )
Cash flows from financing activities
Equity dividends paid (75,000 ) (131,099 )
Repayment of finance leases (276,479 ) (271,904 )
Amount introduced by directors 75,000 -
Amount withdrawn by directors (76,524) (230)
Net cash used in financing activities (353,003 ) (403,233 )
Increase in cash and cash equivalents 801,936 81,104
Cash and cash equivalents at beginning of year 2 353,712 272,608
Cash and cash equivalents at end of year 2 1,155,648 353,712
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 9,399 1,444,979
Adjustments for:
Tax on profit 179,491 290,080
Interest expense 35,495 31,170
Interest income (1,886 ) -
Depreciation of tangible assets 256,517 286,684
Profit on disposal of tangible assets (11,831) (11,999)
Movements in working capital:
Decrease in stocks - 3,751,872
Increase in trade and other debtors (6,408,821 ) (4,384,874 )
Increase/(decrease) in trade and other creditors 7,545,625 (887,411 )
Net cash generated from operations 1,603,989 520,501
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 1,155,648 353,712
3. Analysis of changes in net (debt)/funds
As at 1 May 2023 Cash flows As at 30 April 2024
£ £ £
Cash at bank and in hand 353,712 801,936 1,155,648
Finance leases (800,447) 276,477 (523,970)
(446,735) 1,078,413 631,678
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Notes to the Financial Statements
1. General Information
Rr Groundworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08503041 . The registered office is Unit 5 & 6 Kemberton Road, Halesfield 16, Telford, TF7 4QS.
The company's principal activity continues to be that of construction of civil engineering projects.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Comparative figures
Comparative amounts relating to stock have been reclassed to debtors, as this represents income that should be recognised based on the stage of completion of a project but has not yet been invoiced.
3. Turnover
Analysis of turnover by geographical market is as follows:
2024 2023
£ £
United Kingdom 38,979,032 21,911,425
38,979,032 21,911,425
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4. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts 159,038 -
Depreciation of tangible fixed assets 256,517 286,684
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 18,630 -
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 2,326,507 1,088,882
Social security costs 267,446 99,664
Other pension costs 69,689 15,130
2,663,642 1,203,676
7. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 22)
33 22
8. Director's remuneration
2024 2023
£ £
Emoluments 180,208 12,500
Company contributions to money purchase pension schemes 48,000 110
228,208 12,610
9. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 1,887 -
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10. Interest Payable and Similar Charges
2024 2023
£ £
Finance charges payable under finance leases and hire purchase contracts 35,495 31,170
11. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 19.0% 113,049 368,184
Prior period adjustment - (78,104 )
113,049 290,080
Deferred Tax
Deferred taxation 66,442 -
Total tax charge for the period 179,491 290,080
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 188,890 1,735,059
Tax on profit at 25% (UK standard rate) 47,223 340,072
Expenses not deductible for tax purposes 93,599 68,600
Tax losses utilised - (20,947 )
Capital allowances (27,773 ) (19,541 )
Short term timing differences 66,442 -
Research and Development tax credit - (78,104 )
Total tax charge for the period 179,491 290,080
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12. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 1,715,202 188,265 22,568 13,589 1,939,624
Additions 72,450 - 6,813 19,995 99,258
Disposals (66,667 ) (69,185 ) - - (135,852 )
As at 30 April 2024 1,720,985 119,080 29,381 33,584 1,903,030
Depreciation
As at 1 May 2023 675,639 96,235 2,160 2,396 776,430
Provided during the period 221,407 23,578 5,805 5,726 256,516
Disposals (30,400 ) (65,283 ) - - (95,683 )
As at 30 April 2024 866,646 54,530 7,965 8,122 937,263
Net Book Value
As at 30 April 2024 854,339 64,550 21,416 25,462 965,767
As at 1 May 2023 1,039,563 92,030 20,408 11,193 1,163,194
13. Debtors
2024 2023
£ £
Due within one year
Trade debtors 951,250 532,520
Amounts recoverable on contracts 7,888,576 2,724,181
Other debtors 2,462,876 1,635,656
11,302,702 4,892,357
14. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 297,874 334,255
Trade creditors 9,260,919 1,976,732
Other creditors 30,820 2,489
Corporation tax 113,049 368,184
Taxation and social security 151,250 104,702
Accruals and deferred income 342,094 155,535
10,196,006 2,941,897
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15. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 226,096 466,192
16. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 297,874 334,255
Later than one year and not later than five years 226,096 466,192
523,970 800,447
523,970 800,447
17. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 66,442 -
19. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 75,000 131,099
20. Post Balance Sheet Events
On 15th July 2024 the Company was part of a group reconstruction exercise which resulted in a change in the ownership of the Company from Roy Rowland to Group RR Limited. The ultimate controlling party remains Roy Rowland who has greater than 75% ownership and voting rights in Group RR Limited.
After the group was formed, assets amounting to the net book value of £627,836 as at the year-end were transferred to another company within the group.
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21. Related Party Disclosures
During the year, related parties of Roy Rowland provided services to the Company totalling £167,524 (2023 £143,681) and there was £Nil (2023 : £Nil) owed at the year end.
During the year, the company made net sales of £1,041 to a company Roy Rowland is a director of and has significant control over. At the year-end, £1,117 was owed to the company.
The company also made net purchases of £12,522,613 from companies in which Roy Rowland is a director and has significant control, of which £2,819,658 is outstanding at year-end.
At the year-end, there is a balance owed to the company by these related companies of £1,614,778 (2023: £1,383,790), which is included within other debtors.
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