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REGISTERED NUMBER: 04618789 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 30 April 2024

for

CHANDOS CIVIL ENGINEERING LIMITED

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

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 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


CHANDOS CIVIL ENGINEERING LIMITED

Company Information
for the year ended 30 April 2024







Directors: D A Molloy
D J Molloy





Registered office: Chandos House
Oak Green Business Park
Earl Road
Cheadle Hulme Stockport
Cheshire
SK8 6QL





Registered number: 04618789 (England and Wales)





Auditors: CLA Evelyn Partners Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

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
Performance during 2023/24 has been in line with expectations.

We secured numerous contracts throughout the year from existing client base as well as new. However inflation and competition in the market have put downwards pressure on margins in the current year.

Looking forward the Directors expect inflation to continue to have a negative impact on margins.

Principal risks and uncertainties
The company undertakes some contracts on a fixed price basis. There is an element of risk that unforeseen events occur resulting in costs being incurred which cannot be recovered from the client. The risk is mitigated internally by employing suitably qualified and experienced staff to manage this process.

Rising interest rates and wider issues in the economy has the potential to weaken demand in the housing market.

Key performance indicators
The financial key performance indicators of the company are detailed for the last 3 years below:

2024 2023 2022
Turnover £'000 47,314 76,672 54,452
Gross profit £'000 7,956 16,117 10,034
Gross profit % 17% 21% 18%
Operating profit £'000 4,383 12,291 6,152
Operating profit/turnover % 9% 16% 11%

On behalf of the board:





D J Molloy - Director


31 January 2025

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

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 construction services.

Dividends
Interim dividends of £15,932.19 (2023: £47,163.99) per share were paid during the year. The directors recommend that no final dividend be paid.

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

D A Molloy
D J Molloy

Financial instruments
The company's principal financial instruments comprise bank deposits, bank loans and various items such as trade debtors, trade creditors, finance and operating lease agreements, which arise directly from its operations. The main purpose of these instruments is to finance the company's operations.

Due to the nature of the financial instruments used by the group there is no exposure to price risk. The company operates wholly within the UK and foreign exchange risk is not material.

The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

The company's treasury management policies are designed to ensure continuity of funding. The company makes use of money market facilities, when funds are available, in order to maximise interest received.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning contract terms and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet both anticipated requirements and to provide a prudent level of headroom.

The company is a lessee in respect of finance and operating leased assets. The liquidity risk in respect of these is managed in the same way as trade creditors above.

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.

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Report of the Directors
for the year ended 30 April 2024


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:





D J Molloy - Director


31 January 2025

Report of the Independent Auditors to the Members of
Chandos Civil Engineering Limited


Opinion
We have audited the financial statements of Chandos Civil Engineering Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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. 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 course of 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.

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.

Report of the Independent Auditors to the Members of
Chandos Civil Engineering Limited


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.

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

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK employment and tax legislation. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to fraudulent financial reporting and management bias in accounting estimates.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the company engagement team included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- identifying and testing journal entries, through the use of audit data analytics, to test the journals with the largest risk scores;
- focussing on revenue recognition, in particular focussing on cut-off and the valuation of accrued and deferred income; and
- assessing and challenging managements key accounting estimates by evaluating the significant assumptions and the choice of data used. We re-performed calculations and performed sensitivity analysis.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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
Chandos Civil Engineering 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.




David Fort FCA (Senior Statutory Auditor)
for and on behalf of CLA Evelyn Partners Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

31 January 2025

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Statement of Comprehensive
Income
for the year ended 30 April 2024

2024 2023
Notes £ £

Turnover 5 47,314,123 76,671,516

Cost of sales (39,358,397 ) (60,554,470 )
Gross profit 7,955,726 16,117,046

Administrative expenses (3,799,123 ) (3,909,734 )
4,156,603 12,207,312

Other operating income - 83,295
Operating profit 7 4,156,603 12,290,607

Interest receivable and similar income 233,368 35,869
4,389,971 12,326,476

Interest payable and similar expenses 9 (11,845 ) (7,303 )
Profit before taxation 4,378,126 12,319,173

Tax on profit 10 (1,242,975 ) (2,486,818 )
Profit for the financial year 3,135,151 9,832,355

Other comprehensive income - -
Total comprehensive income for the year 3,135,151 9,832,355

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 12 633,467 668,935

Current assets
Debtors 13 9,345,545 14,174,804
Cash at bank and in hand 10,309,915 6,784,912
19,655,460 20,959,716
Creditors
Amounts falling due within one year 14 6,930,344 9,672,075
Net current assets 12,725,116 11,287,641
Total assets less current liabilities 13,358,583 11,956,576

Creditors
Amounts falling due after more than one
year

15

(112,184

)

(128,544

)

Provisions for liabilities 17 (5,850 ) (14,000 )
Net assets 13,240,549 11,814,032

Capital and reserves
Called up share capital 18 100 100
Retained earnings 19 13,240,449 11,813,932
Shareholders' funds 13,240,549 11,814,032

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





D J Molloy - Director


CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

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 100 6,697,976 6,698,076

Changes in equity
Dividends - (4,716,399 ) (4,716,399 )
Total comprehensive income - 9,832,355 9,832,355
Balance at 30 April 2023 100 11,813,932 11,814,032

Changes in equity
Dividends - (1,708,634 ) (1,708,634 )
Total comprehensive income - 3,135,151 3,135,151
Balance at 30 April 2024 100 13,240,449 13,240,549

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Chandos Civil Engineering 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.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Molloy Investments Holdings Limited as at 30 April 2024 and these financial statements may be obtained from Companies House.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

- when the outcome of construction contracts can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion at the end of the reporting period; and

- reliable estimation of the outcome of construction contracts requires reliable estimates of the stage of completion, future costs and collectability of billings; and

- the stage of completion is measured by surveys of work performed.

When the outcome of a construction contract cannot be estimated reliably, revenue is only recognised to the extent of contract costs incurred that it is probable will be recoverable.

When it is probable that total contract costs will exceed total contract revenue on a construction contract, the expected loss shall be recognised as an expense immediately, with a corresponding provision for an onerous contract.

Revenue in respect of variations to contracts and incentive payments is recognised when it is probable it will be agreed by the customer.

Where costs incurred plus recognised profits less recognised losses exceed progress billings, the balance is shown as due from customers on construction contracts within debtors. Where progress billings exceed costs incurred plus recognised profits less recognised losses, the balance is shown as due to customers on construction contracts within creditors.

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% straight line

Depreciation on freehold property is not provided, as any uncharged depreciation for the year and the accumulated uncharged depreciation would be immaterial in aggregate, as a result of the company's policy to maintain its properties in good condition which substantially prolongs their useful life and the estimated high residual value of the properties.

The assets' residual values, useful lives and depreciation method are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement..

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, amounts due from group companies.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases: the company as the lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over a lease term.

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


3. Accounting policies - continued

Pensions
The company operates a defined contribution plan for its employees. A defined contribution is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

4. Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates that affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the reporting period. Actual outcomes may differ from these judgements, estimates and assumptions that have the most significant effect on the carrying value of assets and liabilities of the company are discussed below.

a) Revenue and margin recognition

The company's revenue recognition and margin recognition policies are central to how the company values the work it has carried out in each financial year. These polices require forecasts to be made out of the outcomes of contracts, which require assessments and judgements to be made. The company reviews and, when necessary, revises the estimates of revenue and costs as the contract progresses.

b) Impairment of retentions

The company makes an estimate of the recoverable value of retentions which are included in debtors. When assessing impairment of retentions management considers factors including the current credit rating of the debtor, historical experience and current contract status including potential remedial works. See note 13 for the net carrying amount of retentions and associated impairment provision.

5. 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:

2024 2023
£ £
Contract revenue 47,314,123 76,671,516
47,314,123 76,671,516

6. Employees and directors
2024 2023
£ £
Wages and salaries 1,603,078 1,482,405
Social security costs 202,257 197,933
Other pension costs 157,612 35,651
1,962,947 1,715,989

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


6. Employees and directors - continued

The average number of employees during the year was as follows:
2024 2023

Admin staff 15 15
Management staff 7 7
Site staff 7 10
29 32

2024 2023
£ £
Directors' remuneration 362,458 356,739

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

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£ £
Emoluments etc 185,494 180,109

7. Operating profit

The operating profit is stated after charging:

2024 2023
£ £
Hire of plant and machinery 3,326,681 5,200,473
Other operating leases 83,748 16,612
Depreciation - owned assets 51,494 40,425
Motor vehicle leases - 11,021

8. Auditors' remuneration
2024 2023
£ £
Fees payable to the company's auditors for the audit of the company's
financial statements

15,500

15,250

Fees payable to the company's auditor and its associates for all other services amounted to £12,800 (2023: £12,700).

9. Interest payable and similar expenses
2024 2023
£ £
Hire purchase 11,845 7,303

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


10. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 1,251,125 2,459,918

Deferred tax (8,150 ) 26,900
Tax on profit 1,242,975 2,486,818

UK corporation tax has been charged at 25% (2023 - 19.49%).

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:

2024 2023
£ £
Profit before tax 4,378,126 12,319,173
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19.493%)

1,094,532

2,401,376

Effects of:
Expenses not deductible for tax purposes 187,469 62,136
Capital allowances in excess of depreciation (44,876 ) (3,594 )
Deferred tax 5,850 26,900
Total tax charge 1,242,975 2,486,818

The UK tax legislation was revised in April 23 to charge corporation tax at 25% versus 19% charged previously. The 19.49% corporation tax rate charged in the prior year reconciliation was due to having to reflect 11 months of taxable profits chargeable at 19% and 1 month chargeable at 25%.

11. Dividends
2024 2023
£ £
Ordinary shares shares of £1 each
Interim 1,708,634 4,716,399

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


12. Tangible fixed assets
Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
Cost
At 1 May 2023 503,301 27,423 252,021 782,745
Additions - - 61,090 61,090
Disposals - - (65,549 ) (65,549 )
At 30 April 2024 503,301 27,423 247,562 778,286
Depreciation
At 1 May 2023 - 27,423 86,387 113,810
Charge for year - - 51,494 51,494
Eliminated on disposal - - (20,485 ) (20,485 )
At 30 April 2024 - 27,423 117,396 144,819
Net book value
At 30 April 2024 503,301 - 130,166 633,467
At 30 April 2023 503,301 - 165,634 668,935

The net book value of assets held under finance leases or hire purchase contracts was £130,165 (2023: £165,156).

13. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 4,034,519 8,246,124
Provision for bad debts (11,023 ) (11,023 )
Retentions 453,039 638,991
Amounts owed by group undertakings 3,000,492 2,992,742
Other debtors 268,900 325,229
Directors' current accounts 17,949 144
VAT 925,973 1,482,297
Prepayments and accrued income 655,696 500,300
9,345,545 14,174,804

Retentions are stated after provisions of £1,391,796 (2023: £938,757).

14. Creditors: amounts falling due within one year
2024 2023
£ £
Hire purchase contracts (see note 16) 24,041 20,632
Trade creditors 2,637,184 4,101,002
Amounts owed to participating interests 225,200 -
Corporation tax 323,074 470,014
Social security and other taxes 77,917 79,913
Other creditors 13,453 2,216,933
Directors' current accounts 17,186 21,688
Accruals and deferred income 3,612,289 2,761,893
6,930,344 9,672,075

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


15. Creditors: amounts falling due after more than one year
2024 2023
£ £
Hire purchase contracts (see note 16) 112,184 128,544

16. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 24,041 20,632
Between one and five years 112,184 128,544
136,225 149,176

17. Provisions for liabilities
2024 2023
£ £
Deferred tax 5,850 14,000

Deferred tax
£
Balance at 1 May 2023 14,000
Credit to Statement of Comprehensive Income during year (8,150 )
Balance at 30 April 2024 5,850

18. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary shares £1 100 100

19. Reserves
Retained
earnings
£

At 1 May 2023 11,813,932
Profit for the year 3,135,151
Dividends (1,708,634 )
At 30 April 2024 13,240,449

The retained earnings account includes all current and prior period retained profits and losses, net of dividends.

CHANDOS CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 04618789)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


20. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amount to £167,872 (2023: £45,731). Contributions totalling £7,584 (2023: £7,853) were payable to the fund at the balance sheet date.

21. Directors' advances, credits and guarantees

During the year advances were made to directors totalling £27,159 (2023: £1,905,872) and £4,852 (2023: £1,932,872) was repaid during the year. At the year end amounts totalling £1,763 were payable by the company to the directors (2023: £21,544 due to the company). No interest is being charged on the loans which are repayable on demand.

22. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The related parties are related through common control and common directorship.

Other related parties
2024 2023
£ £
Sales 7,358 5,965
Purchases 257,829 4,016,822
Amount due from related party 268,900 268,900
Amount due to related party 224,790 940,748

23. Ultimate controlling party

The company is wholly owned subsidiary of Molloy Investments Limited, a company incorporated in England and Wales. The company is controlled by the directors by virtue of their equity shareholdings in the ultimate parent company, Molloy Investments Holdings Limited.