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REGISTERED NUMBER: 11320575 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

C&R CONSTRUCTION SOUTH WEST LTD

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Statement of Directors' Responsibilities 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


C&R CONSTRUCTION SOUTH WEST LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: W R Dodd
C K Furse





REGISTERED OFFICE: Lower Park
Coldridge
Crediton
Devon
EX17 6AS





REGISTERED NUMBER: 11320575 (England and Wales)





AUDITORS: Mitchells
Chartered Accountants and Statutory Auditors
St. John's House,
Castle Street,
Taunton
Somerset
TA1 4AY

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

C&R Construction South West Ltd specialises in the design, fabrication, and installation of steel-framed buildings, serving the agricultural, commercial, and industrial sectors. Operating from its headquarters in Coldridge, Crediton, Devon, the company provides a full range of services, including groundworks, concreting, and project management. With in-house fabrication capabilities, C&R Construction ensures bespoke and high-quality structural solutions tailored to the needs of its clients. A key strength of the company is its ability to deliver the full package, taking on projects from the initial design and planning stages through to fabrication, installation, and final completion. This comprehensive approach allows clients to benefit from a seamless, end-to-end service.

REVIEW OF BUSINESS
The 2024 financial year presented some challenges due to a downturn in the construction industry, particularly in the agricultural sector. Global supply chain disruptions, economic uncertainty, and adverse weather conditions contributed to reduced demand, leading to a temporary drop in turnover and profitability. However, as market conditions have improved, the company has seen a strong recovery, with demand picking up across key sectors.

The outlook for the next financial period is positive, with turnover and profitability expected to return to 2023 levels. The company has strengthened its market presence through continued investment in fabrication capacity, workforce development, and client relationships. Demand for steel-framed agricultural buildings, in particular, has rebounded, driven by renewed confidence in the sector. The company's ability to manage projects from conception to completion has been instrumental in maintaining efficiency and delivering high-quality results, even during fluctuating market conditions.

PRINCIPAL RISKS AND UNCERTAINTIES
C&R Construction operates in a competitive and dynamic industry, facing several risks. Market volatility remains a key factor, as fluctuations in agricultural and construction activity impact demand for new buildings and infrastructure projects. Supply chain challenges, including material availability and price fluctuations, can affect project costs and delivery times, requiring the company to manage supplier relationships carefully.

Weather-related disruptions have had a particular impact on the agricultural sector, resulting in a reduction of investment in this area. As agricultural businesses face uncertainty due to changing climate conditions, demand for new infrastructure can fluctuate accordingly. Economic and policy changes also play a significant role, with government policies and grants on infrastructure influencing investment decisions, especially in the agricultural sector. The company continues to monitor and respond to these risks through strategic planning, cost management, and maintaining strong client and supplier relationships.

KEY PERFORMANCE INDICATORS
The company monitors performance through key indicators, including turnover growth, profitability, project completion timelines, and client satisfaction. Turnover growth reflects overall market demand and business expansion, while profitability measures financial efficiency and sustainability. Project completion timelines are tracked to ensure efficiency in delivering projects to clients, maintaining service excellence. Client satisfaction and repeat business are essential metrics for assessing the quality of service and long-term customer relationships.

While turnover and profitability declined during the year due to industry challenges, early indications suggest a strong recovery, with performance expected to align with pre-downturn levels in the coming period.

ON BEHALF OF THE BOARD:





C K Furse - Director


2 April 2025

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
C&R Construction South West Ltd specialises in the design, fabrication, and installation of steel-framed buildings for the agricultural, commercial, and industrial sectors. The company offers a comprehensive service, managing projects from initial design and planning through to fabrication, installation, and final completion. This end-to-end capability ensures seamless project delivery, maintaining high standards of quality and efficiency.

DIVIDENDS
Ordinary dividends were paid amounting to £2,550,281. The directors do not recommend payment of a further dividend.

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

W R Dodd
C K Furse

GOING CONCERN
The directors have reviewed the company's financial position and confirm that it remains a going concern. While the industry faced a downturn during the year, C&R Construction has demonstrated resilience, and early indicators suggest a strong market recovery. The directors have assessed financial projections for the 12 months following this report's approval date and are confident that the company has adequate resources to continue operations. With an increasing order book, stable supplier relationships, and anticipated turnover and profitability returning to 2023 levels, the company is well-positioned for future growth.

ENGAGEMENT WITH EMPLOYEES
The company recognises the vital role of its employees in delivering high-quality projects and maintaining strong client relationships. Over the year, significant investments have been made in staff training and professional development, ensuring employees remain equipped with the latest industry knowledge and technical skills. C&R Construction remains committed to providing a safe, inclusive, and rewarding work environment, fostering long-term employee retention and engagement.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Each director has fulfilled their duties to ensure awareness of relevant audit information and confirm no undisclosed information to the auditor.

AUDITORS
The auditors, Mitchells, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C K Furse - Director


2 April 2025

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024

The directors acknowledge their responsibilities for preparing the Annual Report and financial statements in accordance with applicable laws and regulations.

Company law mandates the directors to prepare financial statements for each financial year, opting to align with UK adopted International Financial Reporting Standards (IFRSs). They must not approve the financial statements unless satisfied that they present a true and fair view of the company's state of affairs, and the profit or loss for the period. In their preparation, the directors must:

- Select suitable accounting policies and consistently apply them.

- Make reasonable and prudent judgments and accounting estimates.

- State adherence to applicable UK adopted IFRSs, with any material departures disclosed and explained.

- Prepare the financial statements on a going concern basis unless inappropriate to presume the company's continuity.

The directors are accountable for maintaining adequate accounting records, sufficiently documenting the company's transactions, and ensuring accurate disclosure of their financial position at any time, complying with the Companies Act 2006. They are also responsible for safeguarding the company's assets, taking reasonable measures for fraud prevention and detection.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C&R CONSTRUCTION SOUTH WEST LTD

Opinion
We have audited the financial statements of C&R Construction South West Ltd (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C&R CONSTRUCTION SOUTH WEST LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 and potential litigation and claims.
- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.
- Reviewing minutes of meetings of those charged with governance.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities. It is the primary responsibility of management and those charged with governance to ensure that the entity's operations are conducted in accordance with the provisions of the laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C&R CONSTRUCTION SOUTH WEST LTD


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.




James R Biggs (Senior Statutory Auditor)
for and on behalf of Mitchells
Chartered Accountants and Statutory Auditors
St. John's House,
Castle Street,
Taunton
Somerset
TA1 4AY

2 April 2025

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 15,177,246 19,161,239

Cost of sales 11,287,784 13,642,631
GROSS PROFIT 3,889,462 5,518,608

Administrative expenses 1,534,145 1,323,599
OPERATING PROFIT 4 2,355,317 4,195,009

Interest receivable and similar income 44,224 18,273
2,399,541 4,213,282

Interest payable and similar expenses 5 295 -
PROFIT BEFORE TAXATION 2,399,246 4,213,282

Tax on profit 6 476,682 659,103
PROFIT FOR THE FINANCIAL YEAR 1,922,564 3,554,179

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   

PROFIT FOR THE YEAR 1,922,564 3,554,179


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,922,564

3,554,179

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 216,930 226,930
Tangible assets 9 1,362,827 1,198,301
1,579,757 1,425,231

CURRENT ASSETS
Stocks 10 151,455 85,312
Debtors 11 3,510,656 3,426,550
Cash at bank 2,043,408 3,602,096
5,705,519 7,113,958
CREDITORS
Amounts falling due within one year 12 1,931,732 2,620,828
NET CURRENT ASSETS 3,773,787 4,493,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,353,544

5,918,361

CREDITORS
Amounts falling due after more than one
year

13

(21,767

)

-

PROVISIONS FOR LIABILITIES 15 (340,707 ) (299,574 )
NET ASSETS 4,991,070 5,618,787

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 4,990,970 5,618,687
SHAREHOLDERS' FUNDS 4,991,070 5,618,787

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:




C K Furse - Director



W R Dodd - Director


C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 100 5,599,202 5,599,302

Changes in equity
Dividends - (3,534,694 ) (3,534,694 )
Total comprehensive income - 3,554,179 3,554,179
Balance at 31 August 2023 100 5,618,687 5,618,787

Changes in equity
Dividends - (2,550,281 ) (2,550,281 )
Total comprehensive income - 1,922,564 1,922,564
Balance at 31 August 2024 100 4,990,970 4,991,070

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. COMPANY INFORMATION

C&R Construction South West Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

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

the requirements of Section 7 Statement of Cash Flows.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts is recognised an output method, resulting in revenue being recognised on the basis of direct measurement of the value of goods or services transferred to date and to the extent that each of the vendor’s performance obligations have been satisfied.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

> Plant and equipment - 15% reducing balance
> Fixtures and fittings - 20% straight line
> Motor vehicles - 15% reducing balance

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. EMPLOYEES AND DIRECTORS
31.8.24 31.8.23
£    £   
Wages and salaries 1,589,925 1,445,575
Other pension costs 156,839 115,870
1,746,764 1,561,445

The average number of employees during the year was as follows:
31.8.24 31.8.23

Administration 10 9
General 26 25
Directors 2 2
38 36

31.8.24 31.8.23
£    £   
Directors' remuneration 18,200 16,529
Directors' pension contributions to money purchase schemes 128,333 88,335

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.8.24 31.8.23
£    £   
Hire of equipment 405,667 667,197
Equipment repairs 74,382 70,794
Depreciation - owned assets 205,035 185,565
Loss/(profit) on disposal of fixed assets 804 (15,783 )
Goodwill amortisation 10,000 10,000
Auditors' remuneration 7,594 7,150

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.8.24 31.8.23
£    £   
Hire purchase 295 -

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 435,550 614,371

Deferred tax 41,132 44,732
Tax on profit 476,682 659,103

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.8.24 31.8.23
£    £   
Profit before tax 2,399,246 4,213,282
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.515%)

599,812

906,488

Effects of:
Expenses not deductible for tax purposes 49 51
Capital allowances in excess of depreciation (63,818 ) (43,106 )
Deferred tax movement re capital allowances 41,133 44,733
Group relief (5,611 ) -
R&D relief (110,322 ) (249,063 )
Loan write-off 15,439 -
Total tax charge 476,682 659,103

7. DIVIDENDS
31.8.24 31.8.23
£    £   
Ordinary Shares shares of 100 each
Final 2,550,281 3,534,694

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 276,930
AMORTISATION
At 1 September 2023 50,000
Amortisation for year 10,000
At 31 August 2024 60,000
NET BOOK VALUE
At 31 August 2024 216,930
At 31 August 2023 226,930

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 1,513,047 14,186 621,966 2,149,199
Additions 338,891 4,333 134,888 478,112
Disposals (225,729 ) (146 ) (33,500 ) (259,375 )
At 31 August 2024 1,626,209 18,373 723,354 2,367,936
DEPRECIATION
At 1 September 2023 701,124 9,687 240,087 950,898
Charge for year 136,223 2,286 66,526 205,035
Eliminated on disposal (128,449 ) (37 ) (22,338 ) (150,824 )
At 31 August 2024 708,898 11,936 284,275 1,005,109
NET BOOK VALUE
At 31 August 2024 917,311 6,437 439,079 1,362,827
At 31 August 2023 811,923 4,499 381,879 1,198,301

10. STOCKS
31.8.24 31.8.23
£    £   
Stocks 151,455 85,312

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 3,451,083 3,340,222
Other debtors 45,210 72,250
Prepayments 14,363 14,078
3,510,656 3,426,550

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 14) 26,000 -
Trade creditors 1,236,053 1,534,760
Tax 34,216 297,866
Social security and other taxes 87,218 89,210
VAT 448,863 626,992
Other creditors 78,503 52,152
Accruals and deferred income 20,879 19,848
1,931,732 2,620,828

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 14) 21,767 -

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 26,000 -
Between one and five years 21,767 -
47,767 -

15. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 340,707 299,574

Deferred
tax
£   
Balance at 1 September 2023 299,574
Effect of change in tax rate 41,133
Balance at 31 August 2024 340,707

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary Shares 100 100 100

C&R CONSTRUCTION SOUTH WEST LTD (REGISTERED NUMBER: 11320575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

17. ULTIMATE PARENT COMPANY

Craig Furse Construction Limited is regarded by the directors as being the company's ultimate parent company.

18. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
31.8.24 31.8.23
£    £   
Sales 249,245 -
Purchases 1,394 1,857
Other expenses 61,758 -
Amount due from related party 20,790 69,650
Amount due to related party - 1,415

Key management personnel of the entity or its parent (in the aggregate)
31.8.24 31.8.23
£    £   
Remuneration 146,533 105,864

19. ULTIMATE CONTROLLING PARTY

C&R Construction is a 100% subsidiary of C&R Construction Holdings Ltd.

Craig Furse is the ultimate controlling party.