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COMPANY REGISTRATION NUMBER: 1448193
Hobson and Porter Limited
Financial Statements
30 September 2024
Hobson and Porter Limited
Financial Statements
Period from 1 April 2023 to 30 September 2024
Contents
Page
Officers and professional advisers
1
Strategic report
2
Directors' report
4
Independent auditor's report to the members
7
Statement of comprehensive income
11
Statement of financial position
12
Statement of changes in equity
13
Statement of cash flows
14
Notes to the financial statements
15
Hobson and Porter Limited
Officers and Professional Advisers
The board of directors
P Hobson
Mrs G Hobson
D Blades
Mrs J Blades
Mrs J Smee
R Horner
M Smee
R Hunter
M Gibbin
J Booth
S English
Company secretary
Mrs J Blades
Registered office
Clifford House
Malmo Road
Sutton Fields Industrial Estate
Hull
HU7 0YF
Auditor
M A Evans
Chartered Certified Accountants & statutory auditor
3 Constable Grove
Kirk Ella
Hull
HU10 7GW
Hobson and Porter Limited
Strategic Report
Period from 1 April 2023 to 30 September 2024
The directors present their strategic report of the company for the period ended 30 September 2024. Review of business Hobson and Porter Limited is an established, family-owned building contractor operating across Yorkshire and Lincolnshire. The business has a solid reputation of more than fifty years in the region. OUR MISSION: Our purpose is to safely and sustainably enhance the built environment across Yorkshire and Lincolnshire. OUR VISION: A valued employer, a favoured supplier to our clients, a favoured client to our suppliers and a responsible neighbour to society. Hobson and Porter Limited operates in the following sectors, and has continued to be profitable during the period, despite continued market challenges and project commencement delays. Commercial and retail Health and social care Education Recreation and public services Industrial and distribution Residential and regeneration Development and performance during the period The company recorded profits in the period from its core activities of building and construction main contractor services. In line with the 2024-2027 strategic plan, the business has experienced positive growth and strong profit results in each of its refined target markets. The business continues to successfully span the public and private sectors in equal measure and during the period has added a number of new target clients to its growing portfolio across Yorkshire and Lincolnshire. Position at the period end Despite the positive results linked to the strategic plan and the successful attainment of new target clients to compliment existing partnerships, a small number of legacy loss making projects have reached fruition in the period and partially eroded overall profits. Notwithstanding these projects, the business has still returned a profit in the period and goes into the next period with a record secured order book of projects, all of which is directly linked to the workstreams targeted within the three year plan. Principal risks and uncertainties Whilst inflationary growth has slowed for some proprietary building materials and labour, there is still an evident time lag to align real-time construction costs to projects pre-tender and this may continue to deliver project affordability challenges and commencement delays. The residential market is showing signs of a slowdown as higher inflation rates take hold, although this is Hobson and Porter Limited 's smallest operational sector, so the risk impact to the business is deemed to be be low-moderate. Competition in our active regions remains strong. Financial risk management The company remains cash positive, financially independent and has no debt to service. Cash flow is closely monitored against individual project activity on both a short and long term basis. Financial key performance indicators The directors monitor the financial performance of each project on a monthly basis, details of which are held internally for commercially sensitive reasons.
This report was approved by the board of directors on 16 December 2024 and signed on behalf of the board by:
M Gibbin
Director
Hobson and Porter Limited
Directors' Report
Period from 1 April 2023 to 30 September 2024
The directors present their report and the financial statements of the company for the period ended 30 September 2024 .
Directors
The directors who served the company during the period were as follows:
P Hobson
Mrs G Hobson
D Blades
Mrs J Blades
Mrs J Smee
R Horner
M Smee
R Hunter
M Gibbin
J Booth
S English
Dividends
Dividends were paid during the period amounting to £ 180,000 .
Future outlook
The company remains committed to a loyal client base and valued supply chain. The secured work bank is targeted, validated and profitable, this is reflected in the management accounts. The pipeline for both negotiated and competitively tendered future projects remains healthy and has been identified via a proven selection criteria set by the board of directors. They believe that the company's strong balance sheet, ongoing and future work will see a positive outlook.
Financial risk management objectives and policies
Price risk
The majority of work undertaken is for the Public Sector and sourced through approved tender lists and framework agreements. All competitive tenders are risk assessed prior to submission and costs sourced through the supply chain.
Credit risk
Most major clients are Local Authorities, Housing Associations and regulated Public Sector bodies, thus credit risk is low. New and Private Sector clients are subject to credit risks on an ongoing basis and measures are taken to safeguard funds during the project.
Liquidity risk
The company's liquidity risk is managed by ensuring sufficient funds are available to meet amounts due and does not consider that liquidity poses a significant risk.
Interest rate and cash flow risk
The company had a favourable cash balance during the year and therefore does not consider that interest rates or cash flow pose a significant risk.
Disclosure of information in the strategic report
The Strategic Report is detailed on page 2 of the financial statements.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial period. 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 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 judgments 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
This report was approved by the board of directors on 16 December 2024 and signed on behalf of the board by:
M Gibbin
Director
Hobson and Porter Limited
Independent Auditor's Report to the Members of Hobson and Porter Limited
Period from 1 April 2023 to 30 September 2024
Opinion
I have audited the financial statements of Hobson and Porter Limited (the 'company') for the period ended 30 September 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows 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, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In my opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the period then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
I conducted my audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. My responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of my report. I am independent of the company in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK, including the FRC’s Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.
Conclusions relating to going concern
In auditing the financial statements, I 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 I have performed, I 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.
My 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 my auditor’s report thereon. The directors are responsible for the other information. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report, I do not express any form of assurance conclusion thereon. In connection with my audit of the financial statements, my responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the audit or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In my opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which i am 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, I have not identified material misstatements in the strategic report or the directors' report. I have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires me to report to you if, in my opinion: - adequate accounting records have not been kept, or returns adequate for my audit have not been received from branches not visited by me; 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 - I have not received all the information and explanations I require for my audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, 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 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 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.
Auditor's responsibilities for the audit of the financial statements
My 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 my 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. I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which my procedures are capable of detecting irregularities, including fraud is detailed below: As part of an audit in accordance with ISAs (UK), I exercise professional judgment and maintain professional scepticism throughout the audit. I 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 my 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 I conclude that a material uncertainty exists, I am required to draw attention in my auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my 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. I 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 I identify during my audit. Use of my 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. My audit work has been undertaken so that I might state to the company's members those matters I am required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's members as a body, for my audit work, for this report, or for the opinions I have formed.
M A Evans
M A Evans
Chartered Certified Accountants & statutory auditor
3 Constable Grove
Kirk Ella
Hull
HU10 7GW
16 December 2024
Hobson and Porter Limited
Statement of Comprehensive Income
Period from 1 April 2023 to 30 September 2024
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
Note
£
£
Turnover
4
80,492,806
48,093,740
Cost of sales
73,140,080
43,623,087
-------------
-------------
Gross profit
7,352,726
4,470,653
Administrative expenses
7,331,695
4,468,907
------------
------------
Operating profit
5
21,031
1,746
Other interest receivable and similar income
126,095
30,090
------------
------------
Profit before taxation
147,126
31,836
Tax on profit
9
( 37,713)
( 215,752)
---------
---------
Profit for the financial period and total comprehensive income
184,839
247,588
---------
---------
All the activities of the company are from continuing operations.
Hobson and Porter Limited
Statement of Financial Position
30 September 2024
30 Sep 24
31 Mar 23
Note
£
£
£
£
Fixed assets
Tangible assets
11
886,085
835,058
Current assets
Debtors
12
12,830,612
13,377,481
Cash at bank and in hand
4,157,660
2,240,019
-------------
-------------
16,988,272
15,617,500
Creditors: amounts falling due within one year
13
12,710,091
11,293,131
-------------
-------------
Net current assets
4,278,181
4,324,369
------------
------------
Total assets less current liabilities
5,164,266
5,159,427
------------
------------
Net assets
5,164,266
5,159,427
------------
------------
Capital and reserves
Called up share capital
15
10,000
10,000
Profit and loss account
16
5,154,266
5,149,427
------------
------------
Shareholders funds
5,164,266
5,159,427
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 16 December 2024 , and are signed on behalf of the board by:
M Gibbin
Director
Company registration number: 1448193
Hobson and Porter Limited
Statement of Changes in Equity
Period from 1 April 2023 to 30 September 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 1 April 2022
10,000
5,021,839
5,031,839
Profit for the period
247,588
247,588
--------
------------
------------
Total comprehensive income for the period
247,588
247,588
Dividends paid and payable
10
( 120,000)
( 120,000)
--------
------------
------------
Total investments by and distributions to owners
( 120,000)
( 120,000)
At 31 March 2023
10,000
5,149,427
5,159,427
Profit for the period
184,839
184,839
--------
------------
------------
Total comprehensive income for the period
184,839
184,839
Dividends paid and payable
10
( 180,000)
( 180,000)
----
---------
---------
Total investments by and distributions to owners
( 180,000)
( 180,000)
--------
------------
------------
At 30 September 2024
10,000
5,154,266
5,164,266
--------
------------
------------
Hobson and Porter Limited
Statement of Cash Flows
Period from 1 April 2023 to 30 September 2024
30 Sep 24
31 Mar 23
£
£
Cash flows from operating activities
Profit for the financial period
184,839
247,588
Adjustments for:
Depreciation of tangible assets
275,979
148,803
Other interest receivable and similar income
( 126,095)
( 30,090)
Gains on disposal of tangible assets
( 24,000)
Tax on profit
( 37,713)
( 215,752)
Accrued expenses/(income)
73,259
( 59,105)
Changes in:
Trade and other debtors
546,869
( 3,122,357)
Trade and other creditors
1,343,701
1,262,467
------------
------------
Cash generated from operations
2,260,839
( 1,792,446)
Interest received
126,095
30,090
Tax received
37,713
215,752
------------
------------
Net cash from/(used in) operating activities
2,424,647
( 1,546,604)
------------
------------
Cash flows from investing activities
Purchase of tangible assets
( 327,006)
( 227,400)
Proceeds from sale of tangible assets
24,000
------------
------------
Net cash used in investing activities
( 327,006)
( 203,400)
------------
------------
Cash flows from financing activities
Dividends paid
( 180,000)
( 120,000)
------------
------------
Net cash used in financing activities
( 180,000)
( 120,000)
------------
------------
Net increase/(decrease) in cash and cash equivalents
1,917,641
( 1,870,004)
Cash and cash equivalents at beginning of period
2,240,019
4,110,023
------------
------------
Cash and cash equivalents at end of period
4,157,660
2,240,019
------------
------------
Hobson and Porter Limited
Notes to the Financial Statements
Period from 1 April 2023 to 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Clifford House, Malmo Road, Sutton Fields Industrial Estate, Hull, HU7 0YF.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Key assumptions and other sources of estimation uncertainty have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover represents net invoiced work done, excluding value added tax, and work done on long term contracts. Contract turnover includes the value of work completed during the financial year, after reference to the total sales value and stage completion of the project and including the settlement of claims arising from previous years. Amounts recoverable on contracts are valued at costs incurred on specific contracts, net of amounts transferred to cost of sales in respect of work recorded as turnover, less foreseeable losses and payments on account. If the ultimate profitability of a contract can be assessed with reasonable certainty, after having made prudent allowance for future risks and uncertainties, then profit is recognised in proportion to the contract work completed. Immediate provision is made for all foreseeable losses.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
Not depreciated
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
4. Turnover
Turnover arises from:
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Construction contracts
80,492,806
48,093,740
-------------
-------------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating profit
Operating profit or loss is stated after charging/crediting:
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Depreciation of tangible assets
275,979
148,803
Gains on disposal of tangible assets
( 24,000)
---------
---------
6. Auditor's remuneration
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Fees payable for the audit of the financial statements
11,115
7,150
--------
-------
7. Staff costs
The average number of persons employed by the company during the period, including the directors, amounted to:
30 Sep 24
31 Mar 23
No.
No.
Office and management
58
54
Construction
80
75
----
----
138
129
----
----
The aggregate payroll costs incurred during the period, relating to the above, were:
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Wages and salaries
8,731,057
5,280,268
Social security costs
872,378
534,013
Other pension costs
151,300
90,253
------------
------------
9,754,735
5,904,534
------------
------------
8. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Remuneration
1,326,319
859,064
Company contributions to defined contribution pension plans
13,869
9,246
------------
---------
1,340,188
868,310
------------
---------
The number of directors who accrued benefits under company pension plans was as follows:
30 Sep 24
31 Mar 23
No.
No.
Defined contribution plans
2
2
----
----
Remuneration of the highest paid director in respect of qualifying services:
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Aggregate remuneration
159,160
100,334
---------
---------
9. Tax on profit
Major components of tax income
Period from
1 Apr 23 to
Year to
30 Sep 24
31 Mar 23
£
£
Current tax:
Adjustment in respect of R&D tax credits
( 47,219)
( 118,894)
Deferred tax:
Origination and reversal of timing differences
9,506
( 96,858)
--------
---------
Tax on profit
( 37,713)
( 215,752)
--------
---------
10. Dividends
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period):
30 Sep 24
31 Mar 23
£
£
Dividends on ordinary shares
180,000
120,000
---------
---------
11. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
563,698
1,471,028
108,656
2,143,382
Additions
192,526
134,480
327,006
---------
------------
---------
------------
At 30 September 2024
563,698
1,663,554
243,136
2,470,388
---------
------------
---------
------------
Depreciation
At 1 April 2023
164,088
1,100,100
44,136
1,308,324
Charge for the period
226,814
49,165
275,979
---------
------------
---------
------------
At 30 September 2024
164,088
1,326,914
93,301
1,584,303
---------
------------
---------
------------
Carrying amount
At 30 September 2024
399,610
336,640
149,835
886,085
---------
------------
---------
------------
At 31 March 2023
399,610
370,928
64,520
835,058
---------
------------
---------
------------
12. Debtors
30 Sep 24
31 Mar 23
£
£
Trade debtors
6,036,406
5,739,743
Prepayments and accrued income
582,843
631,029
Amounts recoverable on contracts
6,211,363
7,006,709
-------------
-------------
12,830,612
13,377,481
-------------
-------------
13. Creditors: amounts falling due within one year
30 Sep 24
31 Mar 23
£
£
Trade creditors
10,257,523
9,794,944
Accruals and deferred income
125,121
51,862
Social security and other taxes
2,327,447
1,446,325
-------------
-------------
12,710,091
11,293,131
-------------
-------------
14. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 151,300 (2023: £ 90,253 ).
15. Called up share capital
Issued, called up and fully paid
30 Sep 24
31 Mar 23
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
--------
--------
--------
--------
16. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
17. Analysis of changes in net debt
At 1 Apr 2023
Cash flows
At 30 Sep 2024
£
£
£
Cash at bank and in hand
2,240,019
1,917,641
4,157,660
------------
------------
------------
18. Directors' advances, credits and guarantees
During the period there were no directors' advances, credits and guarantees.
19. Controlling party
By virtue of their 100% shareholding, the directors P Hobson and Mrs G Hobson controlled the company throughout the current and previous year.