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REGISTERED NUMBER: 11112010 (England and Wales)















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

C3 CONSTRUCTION GROUP LIMITED

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 8

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


C3 CONSTRUCTION GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







Directors: M Adams
S J Adams
C Haldane
C E McCathie
M Proudlove





Registered office: 1 Merus Court
Meridian Business Park
Leicester
LE19 1RJ





Registered number: 11112010 (England and Wales)





Auditors: Haines Watts Audit EM Limited
1 Merus Court
Meridian Business Park
Leicester
LE19 1RJ

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their strategic report of the Company and the Group for the year ended 30 September 2024.

Introduction

The principal activity of the Group during the year was that of groundwork, general building and site engineering.

Review of business
Over the last 12 months the business has continued to expand despite a more challenging housing market, and is active on over 60 sites across the Midlands. This has been achieved by working for a growing number of housebuilders and establishing a reputation for quality and reliability. As the business is focused on site infrastructure work as well as groundworks, this provides a balance to housing which can slow down if market conditions dictate.

The directors remain focused on cost control and growing market share. There has been considerable investment in plant and machinery to ensure the Group is using the best equipment and technology available. The company continues to develop and invest in its people and their training.

Whilst the outlook for 2025 still has a number of macroeconomic challenges, the directors are confident in C3's position as a leading groundworker and that the Group's reputation will lead to a strong pipeline of opportunities in a market which still suffers from a lack of sufficient housing.

Principal risks and uncertainties
The management of the business and the execution of the Group's strategy are subject to a number of risks. Risks are formally reviewed by the board and appropriate processes are put in place to monitor and mitigate them.

Credit risk
New credit customers undergo credit checks and are only accepted once approved by the credit controller. The Group undertakes perpetual review processes to ensure debts are collected in a timely manner and to minimise the risk that debts become irrecoverable.

Liquidity risk
The Group is financed by appropriate long and short term finance to match the needs of the business.

Financial key performance indicators
The key performance indicators of the Group are turnover, gross profit margin and net profit margin.

During the year turnover has decreased by £15,634,740 (11%) to £122,235,719 compared to £137,870,459 in 2023.

During the year gross profit margin has decreased by £2,090,714 (9%) to £19,908,294 compared to £21,999,008 in 2023.

During the year profit before tax has decreased by £2,885,611 (48%) to £3,034,031 compared to £5,919,642 in 2023.

Other key performance indicators
The non financial key performance indicator of the Group is compliance with UK health and safety regulations including UK building regulations. The Group had no instances of non compliance during the period.

Directors' statement of compliance with duty to promote the success of the Group.


C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

S172 (1) statement
During the year, the directors have had regard to the matters set out in S172 (1) (a) to (f) of the Companies Act 2006 whilst performing their duties. Decisions have been made in good faith to benefit the members as a whole and to promote the success of the Group.

Specifically, the directors have considered the following:

S172 (1) (a) The likely consequences of any decision in the long term

The directors understand the business and the environment in which it operates and the consequences of any long term decisions. There is a clear plan for growth which ensures they deliver a reputable service whilst satisfying both customer and shareholder needs. Improving environmental performance and operating processes are a fundamental part of the business strategy. This is key to ensuring that the Group delivers a duty of care for the benefit of future generations.

S172 (1) (b) The interests of the Group's employees
The directors regularly engage with employees through internal communications when making decisions to ensure that the best course of action is delivered in the long term and that the Group's strategy takes into consideration all stakeholders of the Group, including the employees. Employee welfare and wellbeing is of utmost importance. Within the industry that the Group operates, ensuring that all employees work in a safe and healthy environment is paramount. This is ensured through regular external health and safety compliance checks.

S172 (1) (c) The need to foster the Group's business relationships with suppliers, customers and others

Building relationships with customers and suppliers is critical to the success of the business. Building relationships with key suppliers enables the success of the Group by delivering a quality service whilst ensuring minimal impact to the environment.

S172 (1) (d) The impact of the Group's operations on the community and the environment

The Group recognises the importance of minimising the impact of operations on the community and the environment and takes into consideration the views of all stakeholders.

S172 (1) (e) The desirability of the Group maintaining a reputation for high standards of business conduct

The Group acknowledges that sustainable growth is only achievable by maintaining a reputation quality and adhering to the codes of good business practice.

S172 (1) (f) The need to act fairly between members of the Group

When making decisions, the directors consider which course of action best delivers the Group strategy in the long term, taking into consideration all stakeholders of the Group.

On behalf of the board:





C E McCathie - Director


18 March 2025

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the Company and the Group for the year ended 30 September 2024.

Dividends
The profit for the year, after taxation and minority interests, amounted to £1,552,165 (2023 - £3,336,836).

During the year a dividend of £1,003,622 (2023 - £1,911,538) was recommended by the directors.

Future developments
Going forward the directors are aiming to grow the Group further whilst keeping tight control over the cost base.


C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

M Adams
S J Adams
C Haldane
C E McCathie
M R Proudlove

Other changes in directors holding office are as follows:

M C Weatherley - resigned 12 August 2024

Streamlined energy and carbon reporting
C3 Construction Group Limited is exempt from the requirement to disclose SECR information. The below disclosure relates solely to C3 Construction Limited.

The Group will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Group has complied with all applicable legislation and regulations.

The Companies Act 2006 (Directors' Report) Regulation 2018 requires C3 Construction Limited to disclose annual UK energy consumption, emissions, intensity metrics and all energy efficiency improvements implemented for the financial period. The following disclosures achieve 100% verifiable data coverage with no estimation. Energy and Greenhouse Gas emissions have been independently calculated by Net Zero Compliance (a division of Inspired Energy PLC).

This report (including the Scope 1, 2 and 3 consumption and CO2e emissions data) has been developed and calculated using the GHG Protocol - A Corporate Accounting and Reporting Standard (World Resources Institute and World Business Council for Sustainable Development, 2004); Greenhouse Gas Protocol - Scope 2 Guidance (World Resources Institute, 2015); ISO 14064-1 and ISO 14064-2 (ISO, 2018; ISO, 2019); Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance (HM Government, 2019).

Government Emissions Factor Database 2024 version 1.1 has been used, utilising the published kWh gross calorific value (CV) and kgCO2e emissions factors relevant for the reporting period 01/10/2023 - 30/09/2024. Estimations were undertaken to cover missing billing periods for properties directly invoiced to C3 Construction Limited. These were calculated on a kWh/day pro-rata basis at the meter level.

100% verifiable data coverage was achieved, with no estimations required. This has decreased from the FY2023 estimation level of 8.15%. Market-based emissions were calculated using a supplier-specific emissions factor based on the electricity that C3 Construction Limited procure.

Consumption (kwh) and greenhouse gas emissions (tc02e) totals

The following figures show the consumption and associated emissions for this reporting year for our operations, with figures from the previous reporting period included for comparison.

Scope 1 consumption and emissions relate to direct combustion of natural gas, and fuels utilised for transportation operations, such as company vehicle fleets.

Scope 2 consumption and emissions relate to indirect emissions relating to the consumption of purchased electricity in day-to-day business operations.

Scope 3 consumption and emissions relate to emissions resulting from sources not directly owned by us. This relates to grey fleet (business travel undertaken in employee-owned vehicles) only.

Totals

The total consumption (kWh) figures for energy supplies reportable by C3 Construction Limited are as follows:

Grid supplied Electricity (scope 2) - 118,024 kWh (2023 - 108,100 kWh)
Gaseous and other fuels (scope 1) - 34,170,285 kWh (2023 - 48,597,592 kWh)
Transportation (scope 1) - 9,445,314 kWh (2023 - 9,692,757 kWh)
Transportation (scope 3) - 116,939 kWh (2023 - 102,805 kWh)
Total - 43,850,562 kWh (2023 - 58,501,254 kWh)

The total emission (tC02e) figures for energy supplies reportable by C3 Construction Limited are as follows:

Grid-supplied Electricity (Scope 2) - 24.44 tC02e (2023 - 22.38 tC02e)
Gaseous and other fuels (Scope 1) - 8,764.34 tC02e (2023 - 12,465.07 tC02e)

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Transportation (Scope 1) - 2,230.91 tC02e (2023 - 2,291.16 tC02e)
Transportation (Scope 3) - 26.06 tC02e (2023 - 23.12 tC02e)
Total - 11,045.75 tC02e (2023 - 14,801.74 tC02e)

Intensity metric

An intensity metric of tC02e per £m revenue has been applied for our annual total emissions and are as follows:

tC02e / £m revenue - 90.36 (2023 - 107.36)

Energy efficiency improvements

C3 Construction Limited is committed to year-on-year improvements in its operational energy efficiency. A register of energy efficiency measures has been compiled, with a view to implementing these measures in the next five years.

Measures ongoing and undertaken through FY2023/24:

Fleet Efficiency Upgrades

Efforts are being taken to upgrade and replace fleet vehicles and site vehicles to the most fuel efficient alternatives available when possible. Due to the operational constraints of the business, full electrification is not possible, so these efforts aim to maximise efficiency of fuel used in necessary business operations.

Document Digitisation

This year has seen the implementation of a new system that has kept documents digitised and eliminated the need to print purchase orders, invoices, and supporting documents. This has eliminated the printing of around 7,500 documents per month, reducing energy usage as well as waste.

Measures to be addressed In FY2025

Continued Fleet Efficiency Upgrades

There will be continued efforts to upgrade fleet vehicles and site vehicles to the most fuel efficient alternatives available when possible, in order to maximise energy efficiency while balancing the needs of the business.

Reporting Methodology

Scope 1, 2 and 3 consumption and C02e emissions data has been calculated in line with the 2019 UK Government environmental reporting guidance. Emissions Factor Database 2024 version 1 has been used, utilising the published kWh gross calorific value (CV) and kgC02e emissions factors relevant for reporting period 01/10/2023 - 30/09/2024.

Statement of directors' responsibilities
The directors are responsible for preparing the Group 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 the Group and of the profit or loss of the Group 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 and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 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 Group'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 Group's auditors are aware of that information.

Auditors
The auditors, Haines Watts Audit EM Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





C E McCathie - Director


18 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C3 CONSTRUCTION GROUP LIMITED

Opinion
We have audited the financial statements of C3 Construction Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the Group's and of the Parent Company affairs as at 30 September 2024 and of the Group's 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 Group 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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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
C3 CONSTRUCTION GROUP LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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 group's and the parent 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 group or the parent 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.

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

- Enquiry of management and those charged with governance around actual, potential or suspected litigation,claims, non-compliance with applicable laws and regulations and fraud.
- Enquiry of entity staff in tax and compliance functions and external advisors to identify any instances of noncompliance with laws and regulations
- Performing audit work over the risk of management override, including testing of journal entries and otheradjustments for appropriateness, evaluating the business rationale of significant transactions outside thenormal course of business and reviewing accounting estimates for bias.
- Reviewing of financial statements disclosures and testing to supporting documentation to assess compliancewith applicable laws and regulations.
- Discussions with the engagement team in relation to how and where fraud might occur in the financialstatements and any potential indicators of fraud.
- Reviewing any minutes for meetings during the year.

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.

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.




Shiran Wynter ACA (Senior Statutory Auditor)
for and on behalf of Haines Watts Audit EM Limited
1 Merus Court
Meridian Business Park
Leicester
LE19 1RJ

18 March 2025

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £ £

Turnover 4 122,235,719 137,870,459

Cost of sales 102,327,425 115,871,451
Gross profit 19,908,294 21,999,008

Administrative expenses 16,240,469 15,400,677
3,667,825 6,598,331

Other operating income 466,987 154,950
Operating profit 7 4,134,812 6,753,281


Interest payable and similar expenses 9 1,100,781 833,639
Profit before taxation 3,034,031 5,919,642

Tax on profit 10 964,477 1,470,527
Profit for the financial year 2,069,554 4,449,115

Other comprehensive income - -
Total comprehensive income for the year 2,069,554 4,449,115

Profit attributable to:
Owners of the parent 1,552,165 3,336,836
Non-controlling interests 517,389 1,112,279
2,069,554 4,449,115

Total comprehensive income attributable to:
Owners of the parent 1,552,165 3,336,836
Non-controlling interests 517,389 1,112,279
2,069,554 4,449,115

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

CONSOLIDATED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 13 2,470,306 3,176,108
Tangible assets 14 19,235,733 18,372,109
Investments 15 - -
21,706,039 21,548,217

Current assets
Stocks 16 5,468,066 4,570,473
Debtors 17 24,942,060 27,795,295
Cash at bank 2,746,834 2,784,915
33,156,960 35,150,683
Creditors
Amounts falling due within one year 18 (28,875,814 ) (31,954,741 )
Net current assets 4,281,146 3,195,942
Total assets less current liabilities 25,987,185 24,744,159

Creditors
Amounts falling due after more than one
year

19

(9,362,254

)

(9,633,664

)

Provisions for liabilities 22 (4,630,890 ) (4,182,287 )
Net assets 11,994,041 10,928,208

Capital and reserves
Called up share capital 23 188 225
Share premium 24 77,925 77,925
Capital redemption reserve 24 38 -
Retained earnings 24 8,807,640 8,140,129
Shareholders' funds 8,885,791 8,218,279

Non-controlling interests 3,108,250 2,709,929
Total equity 11,994,041 10,928,208

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





C E McCathie - Director


C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

COMPANY BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 13 - -
Tangible assets 14 - -
Investments 15 13,567,500 13,567,500
13,567,500 13,567,500

Current assets
Debtors 17 150 150

Creditors
Amounts falling due within one year 18 (9,744,449 ) (9,544,350 )
Net current liabilities (9,744,299 ) (9,544,200 )
Total assets less current liabilities 3,823,201 4,023,300

Creditors
Amounts falling due after more than one
year

19

(2,745,150

)

(2,945,150

)
Net assets 1,078,051 1,078,150

Capital and reserves
Called up share capital 23 188 225
Share premium 24 77,925 77,925
Capital redemption reserve 24 38 -
Retained earnings 24 999,900 1,000,000
Shareholders' funds 1,078,051 1,078,150

Company's profit for the financial year 884,554 1,618,544

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





C E McCathie - Director


C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Share
capital earnings premium
£ £ £
Balance at 1 October 2022 225 6,421,837 77,925

Changes in equity
Dividends - (1,618,544 ) -
Total comprehensive income - 3,336,836 -
Balance at 30 September 2023 225 8,140,129 77,925

Changes in equity
Issue of share capital (37 ) - -
Dividends - (884,554 ) -
Total comprehensive income - 1,552,065 -
Balance at 30 September 2024 188 8,807,640 77,925
Capital
redemption Non-controlling Total
reserve Total interests equity
£ £ £ £
Balance at 1 October 2022 - 6,499,987 1,890,644 8,390,631

Changes in equity
Dividends - (1,618,544 ) (292,994 ) (1,911,538 )
Total comprehensive income - 3,336,836 1,112,279 4,449,115
Balance at 30 September 2023 - 8,218,279 2,709,929 10,928,208

Changes in equity
Issue of share capital - (37 ) - (37 )
Dividends - (884,554 ) (119,068 ) (1,003,622 )
Total comprehensive income 38 1,552,103 517,389 2,069,492
Balance at 30 September 2024 38 8,885,791 3,108,250 11,994,041

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£ £ £ £ £
Balance at 1 October 2022 225 1,000,000 77,925 - 1,078,150

Changes in equity
Dividends - (1,618,544 ) - - (1,618,544 )
Total comprehensive income - 1,618,544 - - 1,618,544
Balance at 30 September 2023 225 1,000,000 77,925 - 1,078,150

Changes in equity
Issue of share capital (37 ) - - - (37 )
Dividends - (884,554 ) - - (884,554 )
Total comprehensive income - 884,454 - 38 884,492
Balance at 30 September 2024 188 999,900 77,925 38 1,078,051

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 5,707,913 8,198,566
Interest paid (452,632 ) (242,000 )
Tax paid (75,786 ) (220,301 )
Net cash from operating activities 5,179,495 7,736,265

Cash flows from investing activities
Purchase of tangible fixed assets (217,747 ) (747,665 )
Sale of tangible fixed assets 926,170 792,563
HP interest paid (623,208 ) (430,149 )
Net cash from investing activities 85,215 (385,251 )

Cash flows from financing activities
Repayment of secured loans (1,458,333 ) (833,334 )
Repayment of debenture loans (200,000 ) (1,400,000 )
Repayment of/new finance leases (4,866,757 ) (4,834,418 )
Purchase of own shares (100 ) -
Equity dividends paid (1,003,622 ) (1,911,538 )
Interest paid (24,941 ) (161,490 )
Net cash from financing activities (7,553,753 ) (9,140,780 )

Decrease in cash and cash equivalents (2,289,043 ) (1,789,766 )
Cash and cash equivalents at beginning
of year

2

951,863

2,741,629

Cash and cash equivalents at end of year 2 (1,337,180 ) 951,863

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

2024 2023
£ £
Profit for the financial year 2,069,554 4,449,115
Depreciation charges 2,972,772 2,438,976
Loss on disposal of fixed assets 200,830 130,474
Amortisation of intangible assets 705,802 705,802
Finance costs 1,100,781 833,639
Taxation 964,477 1,470,527
8,014,216 10,028,533
Increase in stocks (897,593 ) (1,069,923 )
Decrease/(increase) in trade and other debtors 2,853,272 (1,867,177 )
(Decrease)/increase in trade and other creditors (4,261,982 ) 1,107,133
Cash generated from operations 5,707,913 8,198,566

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£ £
Cash and cash equivalents 2,746,834 2,784,915
Bank overdrafts (4,084,014 ) (1,833,052 )
(1,337,180 ) 951,863
Year ended 30 September 2023
30.9.23 1.10.22
£ £
Cash and cash equivalents 2,784,915 5,008,286
Bank overdrafts (1,833,052 ) (2,266,657 )
951,863 2,741,629


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.23 Cash flow At 30.9.24
£ £ £
Net cash
Cash at bank 2,784,915 (38,081 ) 2,746,834
Bank overdrafts (1,833,052 ) (2,250,962 ) (4,084,014 )
951,863 (2,289,043 ) (1,337,180 )
Debt
Debts falling due within 1 year (1,458,333 ) 1,458,333 -
(1,458,333 ) 1,458,333 -
Total (506,470 ) (830,710 ) (1,337,180 )

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

C3 Construction Group 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 General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After reviewing the Group's forecasts and projections, the directors have a reasonable expectation that the Group has adequate resources and support to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial information. The directors therefore believe the Group has the ability to continue as a going concern for the next 12 months.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Groups accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 3.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Group will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on reducing balance

The assets' residual values, useful lives and depreciation methods 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 Consolidated Statement of Comprehensive Income.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Consolidated Statement of Comprehensive Income.

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction cost, present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 Consolidated Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Impairment of intangible assets and goodwill

The Group considers whether intangible assets and/or goodwill are impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash generating units (CGUs). This requires estimation of the future cash flows from the CGUs and also selection of appropriate discount rates in order to calculate the net present value of those cash fIows.

(ii) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(iii) Stock and work in progress provisioning

The Group continues to provide groundworking, general building and site engineering services and is exposed to changes in the market prices of raw materials it uses. As a result it is necessary to consider the recoverability of the cost of stocks and the associated provisioning required. When calculating the stocks provision, management considers the nature and condition of the stocks, as well as applying assumptions around anticipated sales and future usage of raw materials.

With regards to work in progress valuations, management will consider materials usage and labour costs incurred on projects currently in progress.

(iv) Impairment of debtors

The Group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the Group.

An analysis of turnover by class of business is given below:

2024 2023
£ £
Groundwork & general building 122,235,719 137,870,459
122,235,719 137,870,459

All turnover arose within the United Kingdom.

5. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 4,853,204 4,704,390
Social security costs 594,957 620,879
Other pension costs 84,503 100,266
5,532,664 5,425,535

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. EMPLOYEES AND DIRECTORS - continued

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

Production staff 23 28
Administrative staff 79 76
Management staff 7 7
109 111

The average number of employees by undertakings that were proportionately consolidated during the year was 6 (2023 - 6 ) .

6. DIRECTORS' EMOLUMENTS

During the year, directors' emoluments totalled £130,491 (2023 - £120,816).

During the year retirement benefits were accruing to 6 directors (2023 - 6) in respect of defined contribution pension schemes.

7. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£ £
Depreciation - owned assets 305,115 335,839
Depreciation - assets on hire purchase contracts or finance leases 2,667,657 2,103,137
Loss on disposal of fixed assets 200,830 130,474
Goodwill amortisation 705,802 705,802
Operating lease rentals 387,999 317,850

8. AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the Company's auditors:


2024 2023
£    £   
Fees payable to the Company's auditors for the audit of the consolidated
and parent Company's financial statements

29,000

30,000

Fees payable to the Group's auditor and its associates in respect of:

Audit-related assurance services 9,000 3,500
Taxation compliance services 5,250 52,792

9. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£ £
Other interest payable 24,941 161,490
Other interest 452,632 242,000
Hire purchase 623,208 430,149
1,100,781 833,639

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 515,874 161,989

Deferred tax 448,603 1,308,538
Tax on profit 964,477 1,470,527

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 3,034,031 5,919,642
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 22 %)

758,508

1,302,321

Effects of:
Expenses not deductible for tax purposes 39,672 13,947
Capital allowances in excess of depreciation (509,346 ) (86,312 )
Adjustments to tax charge in respect of previous periods - 84,366
Loss on disposal of tangible fixed assets 50,208 -
Non-tax deductible amortisation of goodwill and impairment 176,450 155,276
Other timing differences leading to an increase in taxation 448,603 929
Changes in provisions leading to an increase in the tax charge 382 -
Total tax charge 964,477 1,470,527

11. PARENT COMPANY PROFIT FOR THE YEAR

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £884,454 (2023 - £1,618,544).

12. DIVIDENDS

Dividends declared in the year totalled £884,554 (2023 - £1,618,544).

13. INTANGIBLE FIXED ASSETS

Group
Goodwill
£
Cost
At 1 October 2023
and 30 September 2024 7,058,018
Amortisation
At 1 October 2023 3,881,910
Amortisation for year 705,802
At 30 September 2024 4,587,712
Net book value
At 30 September 2024 2,470,306
At 30 September 2023 3,176,108

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 October 2023 17,135,438 514,359 6,804,750 24,454,547
Additions 3,301,266 56,155 1,647,726 5,005,147
Disposals (1,973,404 ) - (313,941 ) (2,287,345 )
At 30 September 2024 18,463,300 570,514 8,138,535 27,172,349
Depreciation
At 1 October 2023 3,342,731 420,558 2,319,149 6,082,438
Charge for year 1,850,089 58,640 1,064,043 2,972,772
Eliminated on disposal (935,477 ) - (183,117 ) (1,118,594 )
At 30 September 2024 4,257,343 479,198 3,200,075 7,936,616
Net book value
At 30 September 2024 14,205,957 91,316 4,938,460 19,235,733
At 30 September 2023 13,792,707 93,801 4,485,601 18,372,109

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024 2023
£    £   
Plant and machinery 13,763,563 10,759,059
Motor vehicles 4,770,555 3,996,605
18,534,118 14,755,664

15. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
Cost
At 1 October 2023
and 30 September 2024 13,567,500
Net book value
At 30 September 2024 13,567,500
At 30 September 2023 13,567,500

The Group or the Company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

C3 Construction Limited
Registered office: 1 Merus Court, Meridian Business Park, Leicester, LE19 1RJ
Nature of business: Groundwork, general building and site eng.
%
Class of shares: holding
Ordinary 100.00

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

15. FIXED ASSET INVESTMENTS - continued

C3 Construction Holdings Limited
Registered office: 1 Merus Court, Meridian Business Park, Leicester, LE19 1RJ
Nature of business: Holding company
%
Class of shares: holding
Ordinary 75.00


16. STOCKS

Group
2024 2023
£ £
Raw materials 3,168,429 3,246,247
Work-in-progress 2,299,637 1,324,226
5,468,066 4,570,473

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Trade debtors 22,475,483 24,850,734 - -
Other debtors 1,547,625 1,909,847 150 150
Prepayments and accrued income 918,952 1,034,714 - -
24,942,060 27,795,295 150 150

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans and overdrafts (see note 20) 4,084,014 3,291,385 - -
Trade creditors 16,797,647 20,815,348 (1 ) (1 )
Amounts owed to group undertakings - - 8,489,724 8,289,624
Tax 495,871 55,783 - -
Social security and other taxes 217,620 163,341 - -
Other creditors 14,877 13,998 - -
Debenture loans 1,200,000 1,200,000 1,200,000 1,200,000
Obligations under finance
lease and hire purchase
contracts 4,045,675 4,095,337 - -
Accruals and deferred income 2,020,110 2,319,549 54,726 54,727
28,875,814 31,954,741 9,744,449 9,544,350

Arbuthnot Commercial Asset Based Lending Limited hold a fixed and floating charge dated 11 July 2022 over all the property or undertakings of the Company.

Lloyds Bank Plc hold a debenture dated 23 August 2016 over all of the property and assets of the Company.

Net obligations under hire purchase contracts amounting to £4,045,675 (2023 - £4,095,337) are secured by the Company against the assets to which they relate.

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Obligations under finance
leases and hire purchase
contracts 6,617,104 6,688,514 - -
Debenture loans 2,745,150 2,945,150 2,745,150 2,945,150
9,362,254 9,633,664 2,745,150 2,945,150

Arbuthnot Commercial Asset Based Lending Limited hold a fixed and floating charge dated 11 July 2022 over all the property or undertakings of the Company.

Lloyds Bank Plc hold a debenture dated 23 August 2016 over all of the property and assets of the Company.

Net obligations under hire purchase contracts amounting to £6,617,104 (2023 - £6,688,514) are secured by the Company against the assets to which they relate.

20. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 4,084,014 1,833,052
Bank loans - 1,458,333
4,084,014 3,291,385

21. LEASING AGREEMENTS

Minimum lease payments under hire purchases fall due as follows:

Group Group
2024 2023
£    £   

Within one year 4,045,675 4,095,337
Between 1-5 years 6,617,104 6,688,514
10,662,779 10,783,851

22. PROVISIONS FOR LIABILITIES

Group
2024 2023
£ £
Deferred tax 4,630,890 4,182,287

Group
Deferred tax
£
Balance at 1 October 2023 4,182,287
Charge to Statement of Comprehensive Income during year 448,603
Balance at 30 September 2024 4,630,890

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

23. CALLED UP SHARE CAPITAL

2024 2023
£    £   
Alloted, called up and fully paid

7,500 (2023 - 7,500) Ordinary A shares of £0.010 each 75.00 75.0
3,750 (2023 - 3,750) Ordinary B shares of £0.010 each 37.5 37.5
0 (2023 - 3,750) Ordinary C shares of £0.010 each - 37.5
3,750 (2023 - 3,750) Ordinary D shares of £0.010 each 37.5 37.5
3,750 (2023 - 3,750) Ordinary E shares of £0.010 each 37.5 37.5
187.5 225.0

24. RESERVES

Group
Capital
Retained Share redemption
earnings premium reserve Totals
£ £ £ £

At 1 October 2023 8,140,129 77,925 - 8,218,054
Profit for the year 1,552,165 1,552,165
Dividends (884,554 ) (884,554 )
Purchase of own shares (100 ) - 38 (62 )
At 30 September 2024 8,807,640 77,925 38 8,885,603

Company
Capital
Retained Share redemption
earnings premium reserve Totals
£ £ £ £

At 1 October 2023 1,000,000 77,925 - 1,077,925
Profit for the year 884,554 884,554
Dividends (884,554 ) (884,554 )
Purchase of own shares (100 ) - 38 (62 )
At 30 September 2024 999,900 77,925 38 1,077,863

Retained Earnings
Includes all current and prior period retained profits and losses. All amounts are distributable.

Share Premium
Includes the premium attached to the new shares issued in prior periods.

Capital Redemption Reserve
The statutory, non-distributable reserve into which amounts were transferred following the redemption of the Company's own shares.

25. CAPITAL COMMITMENTS
2024 2023
£ £
Contracted but not provided for in the
financial statements 404,700 -

26. TRANSACTIONS WITH DIRECTORS

The Company has agreed to act as guarantor for £3,945,150 fixed loan notes created by C3 Construction Group Limited and owed to J Denham, M Johnson and D Humberstone. The charge, registered on 22 March 2018, is secured against all of the property and assets of the Group.

C3 CONSTRUCTION GROUP LIMITED (REGISTERED NUMBER: 11112010)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

27. RELATED PARTY DISCLOSURES

During the year amounts totalling £200,000 (2023 - £1,322,000) were advanced to associated undertakings of the Company. At the year end £8,489,724 (2023 - £8,289,624) was due to the Group in respect of these advances.

Total key management personnel remuneration for the year was £225,659 (2023 - £142,510).

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102, section 1AC.35.

28. CONTROLLING PARTY

The directors do not consider there to be an ultimate controlling party in the year.

29. COMMITMENTS UNDER OPERATING LEASES

At 30 September 2024 the Group had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Group Group
2024 2023
£    £   
Land and buildings

Not later than 1 year 114,391 105,000
Later than 1 year and not later than 5 years 367,500 420,000
Later than 5 years 78,750
481,891 603,750

Group Group
2024 2023
£    £   
Other

Not later than 1 year 200,912 200,912
Later than 1 year and not later than 5 years 205,789 129,499
Later than 5 years - 54,349
406,701 384,760