The directors present the strategic report for the year ended 31 August 2024.
The principal activity of the group is civil engineering.
The results for the year are shown on the Statement of Comprehensive Income on page 11.
The directors are pleased to report that the group has continued to improve both turnover and profitability in the year to 31 August 2024.
Gross profit and net profit margins remain healthy, resulting in an increase in annual turnover to £157 million (2023 - £144.2m) generating a net profit after tax of £4,487,296 (2023 - £3,876,456).
These progressive results reflect the group's focus and further establishment within a targeted and diverse range of civil engineering and building market sectors including power and energy, new roads and infrastructure, retail, leisure, transport, and manufacturing project opportunities.
Market conditions provided a wide and buoyant range of tendering opportunities with associated successful awards, however the recruitment of additional skilled management and workforce resources proved challenging in comparison to previous years.
The Board continue to monitor and measure past performance and results against current market conditions and opportunities, with the aim of increasing turnover whilst maintaining a comparative profit margin to the year ended 31 August 2025, albeit against a backdrop which still remains challenging and competitive.
Recruitment of suitably skilled staff and labour resources, will again factor as a business risk in the year to 31 August 2025.
These matters are being monitored and managed by the Board accordingly to mitigate the effects on our trading position.
The key financial performance indicators monitored by the Board and the group’s management team are: contract performance; divisional contribution; overheads; net profit margin and liquidity ratios.
The directors believe that non-financial performance indicators are as important as financial ones. These include, but are not limited to: the retention of a skilled workforce; maintaining a good reputation with clients through the group’s commitment to providing quality work; and achieving the highest possible standards in both Health and Safety and Environmental performance.
Section 172(1) of the Companies Act 2006 imposes an obligation on the group's Board of Directors to promote the success of the group as a whole for the benefit of all stakeholders.
The following disclosure describes how the directors have responded to the requirements of Section 172(1) and details the actions and procedures now in place to ensure compliance.
The group is headed by an experienced and effective Board, which controls and leads the group.
Board members present the annual business plan to shareholders for discussion and approval. Thereafter the Board meets with shareholders on a monthly basis to report progress. Shareholders are provided with the management information and reports used by the directors.
The Board then meets weekly, reviewing all current and future contracts as well as tender opportunities in the short to medium term.
The group's employees are also involved in this process where the information considered by the shareholders and directors is communicated to them through a series of meetings and events.
The group also has a variety of employee engagement processes in place to provide employee voice and feedback on a number of issues, these include: regular performance appraisals, e-mail communication, site/line manager briefings, safety observation reporting and regular workforce representative meetings. OVer the last number of years we have made increased use of digital technology such as mobile apps and video conferencing to maintain engagement levels with all sections of our workforce.
The group is committed to ensuring that we have a positive impact on the local environment and communities in which we operate. We proactively engage with community groups, local authorities, and other relevant organisations. In addition, we have provided a variety of financial and non-financial contributions to charities, social enterprises and schools including work experience, employment opportunities and delivery of community projects.
The group continues to foster close relationships with both suppliers and customers. Communication with all customers and suppliers is key to the success of the business. We maintain strong, long standing and mutually beneficial relationships with clients, suppliers and sub-contractors.
In summary, the Board recognises that it must understand the views and needs of all of the group's stakeholders including shareholders, employees, customers and suppliers, and the effect on these interested parties of the principal decisions taken by the group during the financial year.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 August 2024.
The information regarding the business review and future developments, principal risks and uncertainties, financial key performance indicators and other key performance indicators is included in the Strategic Report and not in the Directors' Report.
The results for the year are set out on page 11.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The group places considerable value on the involvement of its employees and has continued its previous practice of keeping them informed on matters affecting them as employees and on the various factors affecting the performance of the group.
In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the group will be put at a General Meeting.
Reasons for Change in Emissions
Our reported gross emissions have increased this year in comparison to our base year and against the previous year. Our chosen intensity measurement shows a reduction of 10.8% when compared to the previous year.
Base Year
The group have a fixed base year of 2014/15. We chose this year as it was the first year for which we required to comply with the Energy Savings Opportunities Scheme Regulations and therefore the required information to compile the detail above was available and accurate and was typical in respect of our operations. Our base year recalculation policy is to recalculate our base year and prior year emissions for relevant significant changes, which meet our significant threshold of 15% of base year emissions.
Targets
Our emissions reduction target is to reduce our gross emissions in tonnes of CO2e per £100,000 turnover by 5% annually. Allan Randall, Alex Morrison, Joint Managing Directors, and Ian Barclay, Director, are responsible for the achievement of the target.
Organisational Boundary
The group have used the operational control approach.
The group have followed the 2019 UK Government environmental reporting guidance. We also used the ESOS guidance.
The group have used the 2024 UK Government GHG Conversion Factors for Company Reporting.
For continuity we have chosen the same metric gross emissions in tonnes of CO2e per £100,000 turnover as per the previous year. This is the most likely to be a common business metric for our industry and also the most likely to be constant.
We as a group will continue to implement some of the energy saving opportunities identified within our ESOS Audit report for the year 2014-2015 and 2018-2019, details are identified below:
Speed Limiters: Continued with the programme of new vehicles purchased with speed limiters thus increasing the fuel economy of each vehicle and therefore reducing the emissions.
Employee behaviours: With the tracking systems installed in our group vehicles and some items of large plant initially for insurance purposes, the tracking system allows the group to monitor speed of the vehicle, braking behaviours, driving behaviours such as cornering, idling times etc. This then allows the group to coach employees to drive more efficiently and therefore reduce emissions from vehicles and construction plant.
The continued use of Self-Contained Welfare Units (Energy Savers) on construction sites which reduces the fuel quantities used and therefore reduce emissions from the use of diesel generators on construction sites.
Furthermore the ESOS Phase 3 measures have been committed to and will be implemented in stages throughout the 2024-25 period, which will further reduce our carbon impact.
We have audited the financial statements of Dougall Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).
Basis for 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 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
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the group, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the group and parent company that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the group and parent company through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Use of our report
This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £22,006 (2023 - £13,300 loss).
Dougall Holdings Limited (“the company”) is a private limited company domiciled and incorporated in Scotland. The registered office is Balmore House, 1497 Balmore Road, Glasgow, United Kingdom, G23 5HD.
The group consists of Dougall Holdings Limited and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;
Section 26 ‘Share based Payment’: Share based payment arrangements required under FRS 102 paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company, Dougall Holdings Limited, together with all entities controlled by the parent company (its subsidiaries).
Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 1 September 2014.
Therefore the group continues to recognise a merger reserve which arose on a past business combination that was accounted for as a merger in accordance with UK GAAP as applied at the time.
The group and company has a satisfactory level of financial resources together with a solid base of existing customers, and expertise in its field of operations. As a consequence the directors believe that the group and company is well placed to manage its business risks successfully despite the current uncertain economic outlook.
The directors have a reasonable expectation that the group and company has adequate resources to continue in operational existence for the foreseeable future, and so continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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.
Construction contracts
When the outcome of a construction contract can be estimated reliably, the group shall recognise contract revenue and contract costs associated with the construction contract as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period.
The group shall determine the stage of completion of a transaction or contract through performing surveys of the work performed to date.
When the outcome of a construction contract cannot be estimated reliably:
the group shall recognise revenue only to the extent of contract costs incurred that it is probable will be recoverable; and
the group shall recognise contract costs as an expense in the period in which are incurred.
The group will recognise as an expense immediately any costs whose recovery is not probable. When it is probable that total contract costs will exceed total contract revenue on a construction contract, the expected loss shall be recognised as an expense immediately.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the parent company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the parent company holds a long term interest and where the parent company has significant influence. The parent company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the parent company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
At each reporting date the group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined by which is higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying value exceeds the recoverable amount.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets' fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
In the application of the group’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.
The directors are satisfied that accounting policies are appropriate and applied consistently. Key sources of accounting estimation have been applied to the valuation of work in progress based on surveyors' valuations of work performed at the end of each accounting period and the recognition of revenue due on contracts.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution schemes.
Key management personnel are deemed to be the directors of the company only.
Social security costs incurred on behalf of the directors were £126,435 (2023 - £273,580).
The actual credit for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
Included within the above depreciation charge is depreciation of assets held under hire purchase contracts being £494,700 (2023 - £255,625).
Details of the company's subsidiaries at 31 August 2024 are as follows:
The registered office of all subsidiaries is the same as the parent company, Dougall Holdings Limited, details of which are included on the company information pages of these financial statements.
The reporting date of Westerhill Developments Limited was 2 April 2024. Interim statements as at 31 August 2024 have been used in this consolidation.
The allowances for estimated irrecoverable amounts have been determined by reference to past experience and the information on specific contracts and balances and is calculated by reference to the present value of anticipated future proceeds. Trade terms are determined on a contract by contract basis.
The group has facilities which are secured by a counter indemnity and two floating charges over the assets and undertakings of Luddon Construction Limited.
Hire purchase creditors are secured over the assets that they are in relation to.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date.
The ordinary shareholders are entitled to dividends and shares rank equally for voting purposes.
On 27 March 2024, the company repurchased 6,160 (9%) of its £1 ordinary shares for a consideration of £1,741,294. These shares were subsequently cancelled by the company.
Capital redemption reserve
The capital redemption reserve relates to the equity component of shares bought back by the group in the prior years.
Merger reserve
On 22 May 1998 the company acquired Luddon Construction Limited by an exchange of shares. In accordance with Sections 131 and 133 of the Companies Act 1985, no premium was recorded on the shares issued.
On consolidation the difference between the nominal value of the company's shares and the amount of the share capital and share premium on the acquisition of Luddon Construction Limited was credited to a merger reserve. The difference between the cost of acquisition and the fair value of the net assets acquired was debited to this reserve.
Profit and loss reserve
The profit and loss reserve includes all current and prior year retained profits or losses.
At 31 August 2024 there were capital commitments of £nil (2023 - £1,519,751).
At 31 August 2024 there were performance bonds outstanding of £3,983,589 (2023 - £5,209,754).
T B Dougall was also a director of James Strang Limited, Legge Steel (Fabrications) Limited, Craighall Developments Limited, Craighall Energy Limited, Lednathie Estate Limited and R lindsay and Company (Contractors) Limited, during the year.
During the year to 31 August 2024 the group was involved in the following transactions:
James Strang Limited
During the year the group made purchases of £3,975 (2023 - £159) and £1,669,359 (2023 - £1,461,291) of subcontracting services from James Strang Limited. Sales to James Strang Limited amounted to £2,519 (2023 - £2,457).
At the year end amounts due from James Strang Limited to the group were £nil (2023 - £nil) and £606,745 (2023 - £254,784) was included within accruals in respect of subcontracting services from James Strang Limited.
Legge Steel (Fabrications) Limited
During the year the group made purchases of £20,202 (2023 - £4,969) and £316,722 (2023 - £200,617) of subcontracting services from Legge Steel (Fabrications) Limited.
At the year end amounts due to Legge Steel (Fabrications) Limited by the group were £nil (2023 - £nil) and £176,340 (2023 - £4,772) was included within accruals in respect of subcontracting services from Legge Steel (Fabrications) Limited.
Craighall Developments Limited
During the year the group made sales to Craighall Developments Limited which amounted to £23,722 (2023 - £28,762).
At the year end amounts due to the group from Craighall Developments Limited were £118,960 (2023 - £65,112) and there is Work in Progress totaling £291,017 (2023 - £268,143) for works carried out by the group on behalf of Craighall Developments Limited.
Craighall Energy Limited
During the year the group made sales to Craighall Energy Limited which amounted to £nil (2023 - £1,945).
At the year end amounts due to the group from Craighall Energy Limited were £49,789 (2023 - £39,030).
Lednathie Estate Limited
During the year the group made purchases of £172,392 (2023 - £169,336) from Lednathie Estate Limited.
At the year end amounts due by the group to Lednathie Estate Limited were £159,192 (2023 - £159,336).
R Lindsay and Company (Contractors) Limited
During the year the group made purchases of £nil (2023 - £nil) and £nil (2023 - £1,450) of subcontracting services from R Lindsay and Company (Contractors) Limited.
During the year the group made sales pf £nil (2023 - £748) to R Lindsay and Company (Contractors) Limited.
Dougall Estate (Partnership)
J M Dougall and A J Dougall are also the partners of Dougall Estates.
Sales to Dougall Estates in the year amounted to £100,950 (2023 - £95,696).
At the year end amounts due to the group by Dougall Estates were £29,971 (2023 - £55,691).
Included within amounts owed to related undertakings at the prior year end was a loan from a director. The loan was interest free and was repayable on demand. The principal loan amount was £1,000,000. At the year end the loan balance is £nil (2023 - £1,000,000).