Registered number:
FOR THE YEAR ENDED 31 MARCH 2024
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DMC CONTRACTS LIMITED
COMPANY INFORMATION
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DMC CONTRACTS LIMITED
CONTENTS
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DMC CONTRACTS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024
In today’s rapidly evolving Construction environment, it is essential for our company to remain agile and proactive in responding to emerging market trends, customer needs, and competitive dynamics. This strategic report outlines our objectives, and the key initiatives designed to ensure sustainable growth and profitability over the next year. By focusing on innovation, operational efficiency, and market expansion, we aim to strengthen our position as a leader in the industry. Our strategy will influence existing strengths while adapting to shifts in the marketplace, fostering long-term value creation for all stakeholders. We are committed to driving excellence, building strategic partnerships, and continuously improving our delivery and services to meet the growing demands of our customers.
In the financial year 2023-2024, DMC has successfully maintained and strengthened its position in key construction sectors, including Aviation, Rail, and Infrastructure. The company has secured a number of prestigious projects with high-profile clients, some of which are highlighted below: • Clapham Junction – Client: Octavius • London Bridge Toilets – Client - B&M McHugh Ltd • Fredericks Place – Client - Knight Harwood • NR 4 London Bridge – Client - Fuse Rail • Winslow Station – Client -Volker Fitzpatrick • Whitehall – Client: Tilbury Douglas • Belfast Hub – Client: Farrans • Stratford Station Urban Realm – Client - JV VCUK Ltd and BAM Nuttall Ltd • Silvertown Tunnel Project – Client: Ferrovial Construction (UK) Ltd and BAM Nuttall Ltd Joint Venture • Singapore Airlines Heathrow – Client - 8 Build • Bletchley Station – Client: MSK Rail Our Board's key objectives for the year were to continue nurturing and expanding relationships with our valued clients, leading to further work opportunities, and to secure new projects with new clients. A key achievement was securing preferred subcontractor status with Morgan Sindall on their Framework. As part of our ongoing business development efforts, we are actively marketing additional opportunities, including tenders for works such as screeding, soft flooring, resin flooring (including solid wood flooring), and hard landscape packages.
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DMC CONTRACTS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Following the successful completion of the projects outlined above, we are excited to announce that we have secured several new projects for the next financial year.
84 Moorgate – Client – Osbornes Eastbrook Studios – Client - Volkers Fitzpatrick Belfast International Airport – Client – Piperhill Construction Ltd Ilford Flooring Replacement – Client - Network Rail Infrastructure Ltd Stoneleigh Station – Client – McNealy Brown The majority of these projects are a result of repeat business, thanks to the successful delivery of previous schemes for these valued clients. This demonstrates the strong relationships we've built, and the trust clients have in our ability to deliver high-quality outcomes We have been working closely with Tier 1 Contractors to provide early-stage, solid design and construction advice on major rail infrastructure projects such as Old Oak Common, Curzon Street, and Camphill Stations. These large-scale schemes are set to begin in the next financial year, and we are confident in securing them due to the extensive upfront work completed on these projects. DMC is also actively engaged in tender discussions for several aviation projects, including Manchester, Gatwick, and Heathrow Airports. Additionally, we have successfully secured the “Our Town Hall” project in Manchester. While this project is currently delayed due to unforeseen circumstances, which has pushed our site start date further, we are excited to deliver this prestigious project once it commences. As demonstrated, we are expanding our presence nationwide, actively targeting projects in major cities across the country to grow our portfolio and strengthen our position as a leading business in the industry The ISO accreditations are maintained with no issues identified, demonstrating the company's commitment to maintaining robust policies and procedures. We remain certified with ISO 9001, ISO 14001, and ISO 18001. Additionally, we are proud members of the Constructing Better Health Scheme and improved status from Silver to Gold membership with Constructionline. Our company also holds accreditations with Achilles RISQS, Achilles Building Confidence, CIRAS, the National Federation of Terrazzo Marble and Mosaics, The Tiling Association, CQMS Safety Scheme, and Alcumus Safe Contractor
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DMC CONTRACTS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
One of the principal risks facing the business is the potential impact of economic uncertainty and market volatility. Changes in global economic conditions and fluctuating interest rates, inflation could disrupt market demand, affect supply chains, and increase operational costs. Such volatility may reduce consumer spending, delay customer projects, and result in unforeseen financial pressures.
To mitigate this risk, the business maintains a diversified portfolio of clients and markets, closely monitors economic indicators, and adapts its strategy to address shifting market conditions. Additionally, the company continuously reviews its cost-control measures and maintains flexibility in its operations to navigate unforeseen economic challenges. People In 2023-2024, DMC continued to prioritise face-to-face feedback sessions with our staff. These sessions included presentations on our business performance, an overview of our business plan for the upcoming financial year, and the introduction of new opportunities to manage our growing workload effectively. As a business, we are committed to ensuring that all training expectations are met, empowering our staff to excel in their roles and deliver at their highest potential. Additionally, our monthly Board Meetings serve as a vital platform for addressing business issues. More importantly, they allow us to recognize and celebrate the contributions of our staff, which we believe is a key motivator in fostering a positive and productive work environment Growth The continued growth of our business is a direct result of our expanded service offerings across various sectors, which reinforce our strong and positive relationships with clients. DMC’s ability to consistently deliver the highest standards while maintaining a personal touch sets us apart in the market. From providing expert advice early on, through preconstruction, to offering design-conscious alternatives that add value without compromising quality, our approach is recognized by clients at every stage of the process. Our commitment to exceptional service and performance extends to the delivery phase, where our teams consistently exceed expectations on-site. This combination of professionalism, personalized service, and high-quality delivery continues to enhance our market position and paves the way for future growth opportunities.
The directors of the company prioritize key performance indicators (KPIs) that reflect the overall financial health and strength of the business. These KPIs include turnover, gross margin, and operating profit, as they provide a clear picture of financial performance.
Equally important to our business is the focus on capturing lessons learned from completed projects. By identifying areas for improvement, we ensure continuous development and apply valuable insights to future projects
The directors also consider the following key performance indicators (KPIs) to be crucial for the company. Accident and Incident Reporting, Non-Conformance/Defect Reporting, and Site Progress/Outputs. These KPIs are essential for monitoring safety, quality control, and project efficiency, helping to ensure the business operates smoothly and meets its operational goals.
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DMC CONTRACTS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
This report was approved by the board on 28 March 2025 and signed on its behalf.
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DMC CONTRACTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The directors present their report and the financial statements for the year ended 31 March 2024.
The directors who served during the year were:
The profit for the year, after taxation, amounted to £582,640 (2023 - £1,162,433).
Dividends paid in the year amounts to £Nil (2022: £Nil)
DMC Contracts Limited has seen continued growth in turnover, with conservative projections for future turnover, primarily based on secured work.
There have been no significant events affecting the Company since the year end.
Under section 487(2) of the Companies Act 2006, Haslers will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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DMC CONTRACTS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
The directors are responsible for preparing the Strategic Report, the 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 year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 to 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.
The directors are 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 and other information included in Directors' Reports may differ from legislation in other jurisdictions.
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DMC CONTRACTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DMC CONTRACTS LIMITED
We have audited the financial statements of DMC Contracts Limited (the 'Company') for the year ended 31 March 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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DMC CONTRACTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DMC CONTRACTS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are 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. 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.
In our 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 year 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.
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 Directors' Report.
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DMC CONTRACTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DMC CONTRACTS LIMITED (CONTINUED)
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 Auditors' 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.
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 legal and regulatory frameworks that are applicable to the entity we have considered those that have a direct and indirect material impact on the financial statements and operations of the company. These include but are not limited to the Companies Act 2006, GDPR, Employment and Health & Safety legislation and tax legislation. We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of documentation generated and assessing the extent of compliance with the relevant laws and regulations. We discussed among the audit engagement team regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. As a result of performing the above, we identified the greatest potential for material misstatements due to fraud are in the following areas, and our specific procedures performed to address these are described below: The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to the existence of inappropriate journal entries to impact the profit for the year and management bias in accounting estimates. Procedures performed to address these were as follows: • 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, • Challenging assumptions and judgements made by management in its significant accounting estimates: and, • Identifying and testing journal entries, in particular any unusual journal entries posted around the year- end and journal entries posted by infrequent system users.
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 Auditors' Report.
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DMC CONTRACTS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DMC CONTRACTS LIMITED (CONTINUED)
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 an Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Old Station Road
Essex
IG10 4PL
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DMC CONTRACTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024
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DMC CONTRACTS LIMITED
REGISTERED NUMBER: 05174008
BALANCE SHEET
AS AT 31 MARCH 2024
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DMC CONTRACTS LIMITED
REGISTERED NUMBER: 05174008
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 17 to 29 form part of these financial statements.
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