REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
C&R CONSTRUCTION SOUTH WEST LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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&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. |
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&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. |
for and on behalf of |
Chartered Accountants and Statutory Auditors |
St. John's House, |
Castle Street, |
Taunton |
Somerset |
TA1 4AY |
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 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
2,399,541 | 4,213,282 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
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 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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 |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 August 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 August 2024 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Other pension costs |
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 |
31.8.24 | 31.8.23 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31.8.24 | 31.8.23 |
£ | £ |
Hire of equipment |
Equipment repairs |
Depreciation - owned assets |
Loss/(profit) on disposal of fixed assets | ( |
) |
Goodwill amortisation |
Auditors' remuneration |
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 |
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 |
Deferred tax |
Tax on profit |
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 |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
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 |
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 |
AMORTISATION |
At 1 September 2023 |
Amortisation for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
10. | STOCKS |
31.8.24 | 31.8.23 |
£ | £ |
Stocks |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
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) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 448,863 | 626,992 |
Other creditors |
Accruals and deferred income |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Hire purchase contracts (see note 14) |
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 |
Between one and five years |
15. | PROVISIONS FOR LIABILITIES |
31.8.24 | 31.8.23 |
£ | £ |
Deferred tax | 340,707 | 299,574 |
Deferred |
tax |
£ |
Balance at 1 September 2023 |
Effect of change in tax rate | 41,133 |
Balance at 31 August 2024 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
value: | £ | £ |
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 |
31.8.24 | 31.8.23 |
£ | £ |
Sales |
Purchases |
Other expenses | 61,758 | - |
Amount due from related party |
Amount due to related party |
31.8.24 | 31.8.23 |
£ | £ |
Remuneration |
19. | ULTIMATE CONTROLLING PARTY |
C&R Construction is a 100% subsidiary of C&R Construction Holdings Ltd. |
Craig Furse is the ultimate controlling party. |