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Registered number: 03595546









J F LINDSAY CONSTRUCTION LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
COMPANY INFORMATION


DIRECTORS
F Lindsay 
F A Lindsay 
J C Lindsay 
C R Butler 
R Coppins 




COMPANY SECRETARY
C R Butler



REGISTERED NUMBER
03595546



REGISTERED OFFICE
16 Saxon Way Business Centre
Melbourn

Cambridgeshire

SG8 6DN




INDEPENDENT AUDITOR
Peters Elworthy & Moore
Chartered Accountants & Statutory Auditors

Salisbury House

Station Road

Cambridge

CB1 2LA




BANKERS
Barclays Bank Plc
35 Market Hill

Sudbury

Suffolk

CO10 2EP





 
J F LINDSAY CONSTRUCTION LIMITED
 

CONTENTS



Page
Directors' Report
 
1 - 2
Independent Auditor's Report
 
3 - 6
Profit and Loss Account
 
7
Balance Sheet
 
8 - 9
Notes to the Financial Statements
 
10 - 17


 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

PRINCIPAL ACTIVITY

The principal activity of the Company during the year was that of civil engineering and ground work construction services.

DIRECTORS

The directors who served during the year were:

F Lindsay 
F A Lindsay 
J F Lindsay (resigned 21 October 2024)
E Lindsay (resigned 21 October 2024)
J C Lindsay 
C R Butler (appointed 1 November 2023)
R Coppins (appointed 1 November 2023)

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

AUDITOR

Under section 487(2) of the Companies Act 2006Peters Elworthy & Moore will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf by:
 





F A Lindsay
Director

Date: 22 April 2025

Page 2

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF J F LINDSAY CONSTRUCTION LIMITED
 

OPINION


We have audited the financial statements of J F Lindsay Construction Limited (the 'Company') for the year ended 31 October 2024, which comprise the Profit and Loss Account, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe 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 October 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


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 other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


Page 3

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF J F LINDSAY CONSTRUCTION LIMITED (CONTINUED)


OTHER INFORMATION (CONTINUED)
We have nothing to report in this regard.


OPINION 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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 is 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.


Page 4

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF J F LINDSAY CONSTRUCTION LIMITED (CONTINUED)


AUDITOR'S 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 an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
 
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of the construction sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including Financial Reporting Standard 102 (United Kingdom Generally Accepted Accounting Practice), the Companies Act 2006 and taxation legislation;
in addition, we considered provisions of other laws and regulations which do not have a direct effect on the financial statements but compliance with which might be fundamental to the Company's ability to operate or to avoid material penalties; and
we obtained an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance.

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
 
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
 
To address the risk of fraud through management bias and override of controls, we;
 
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias;
designed procedures to identify unexpected and unusual journal entries and performed testing to confirm the validity of such postings;
used Audit Data Analytics to review the client data for unusual trends and anomalies; and
performed audit work over the risk of management 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 revieing accounting estimates for bias.
 
Page 5

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF J F LINDSAY CONSTRUCTION LIMITED (CONTINUED)


AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS (CONTINUED)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
 
agreeing financial statement disclosures to underlying supporting documentation; and
enquiring of management as to actual and potential litigation and claims.
 
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.


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 Auditor's Report.


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 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an 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 Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Edward Napper (Senior Statutory Auditor)
  
for and on behalf of
Peters Elworthy & Moore
 
Chartered Accountants
Statutory Auditors
  
Salisbury House
Station Road
Cambridge
CB1 2LA

 
Date: 
9 May 2025
Page 6

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
Note
£
£

  

Turnover
  
10,714,210
12,174,013

Cost of sales
  
(9,142,981)
(11,048,625)

GROSS PROFIT
  
1,571,229
1,125,388

Administrative expenses
  
(1,557,862)
(925,343)

Other operating income
  
304,167
-

OPERATING PROFIT
  
317,534
200,045

Interest receivable and similar income
  
580
355

PROFIT BEFORE TAX
  
318,114
200,400

Tax on profit
 5 
(83,377)
(58,020)

PROFIT FOR THE FINANCIAL YEAR
  
234,737
142,380

The notes on pages 10 to 17 form part of these financial statements.

Page 7

 
J F LINDSAY CONSTRUCTION LIMITED
REGISTERED NUMBER: 03595546

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 6 
554,733
411,953

  
554,733
411,953

CURRENT ASSETS
  

Stocks
  
-
123,630

Debtors: amounts falling due within one year
 7 
5,115,459
3,738,371

Cash at bank and in hand
  
760,813
765,073

  
5,876,272
4,627,074

  

Creditors: amounts falling due within one year
 8 
(5,329,158)
(4,238,442)

NET CURRENT ASSETS
  
 
 
547,114
 
 
388,632

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,101,847
800,585

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(137,986)
(71,461)

Other provisions
 10 
(65,000)
(65,000)

NET ASSETS
  
898,861
664,124


CAPITAL AND RESERVES
  

Called up share capital 
 11 
85
85

Capital redemption reserve
  
15
15

Profit and loss account
  
898,761
664,024

  
898,861
664,124


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




F A Lindsay
Director

Date: 22 April 2025

The notes on pages 10 to 17 form part of these financial statements.
Page 8

 
J F LINDSAY CONSTRUCTION LIMITED
REGISTERED NUMBER: 03595546
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024


Page 9

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


GENERAL INFORMATION

J F Lindsay Construction Limited is a private company limited by shares and incorporated in England and Wales. The Company's registered office is 16 Saxon Way Business Centre, Melbourn, Cambridgeshire, SG8 6DN.
The Company's functional and presentational currency is GBP. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the Company in respect of construction contracts undertaken during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised as the fair value of the consideration received or receivable and is recognised when the construction work completed is certified.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

PENSIONS

The Company operates a defined contribution scheme for its employees. A defined contribution scheme is one under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 10

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

 CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 11

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.6
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
over period of the lease
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

STOCKS AND WORK IN PROGRESS

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

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

 
2.8

DEBTORS

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

 
2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

CREDITORS

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

Page 12

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may be different from these estimates.
Information about assumptions and estimation uncertainties that have significant risk of resulting in material adjustment within the next financial year are included below. Critical judgements that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relate to the following:
Recoverability of trade debtors
An allowance for doubtful accounts is maintained for potential credit losses based upon management’s assessment of the expected collectability of all accounts receivable. The allowance for doubtful accounts is reviewed periodically to assess the adequacy of the allowance. In making this assessment, the directors take into consideration any circumstances of which they are aware regarding a customer’s inability to meet its financial obligations.
Rectification provision
Provisions for rectification work on specific completed sites are recognised where the directors believe it to be highly probable that the Company will be liable in the future for the costs associated with completing the rectification works. These provisions are reviewed periodically to ensure appropriately included within the financial statements.
Warranty provision
A provision for maintenance works is maintained for potential additional works to be completed on old sites. This provision is based upon previous experience of the costs involved with completing such maintenance works and is periodically assessed by the directors to ensure that the provision is an accurate estimation of future maintenance works.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 14 (2023 - 0).

Page 13

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


TAXATION


2024
2023
£
£

CORPORATION TAX


Current tax on profits for the year
3,411
-

Adjustments in respect of previous periods
13,441
(13,441)

TOTAL CURRENT TAX
16,852
(13,441)

DEFERRED TAX


Origination and reversal of timing differences
84,211
71,461

Adjustments in respect of prior periods
(17,686)
-

TOTAL DEFERRED TAX
66,525
71,461


83,377
58,020

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 19.00% (2023 - 22.52%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
318,114
200,400


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19.00% (2023 - 22.52%)
60,442
45,126

EFFECTS OF:


Expenses not deductible for tax purposes
6,969
3,599

Losses carried back
-
15,929

Adjustments to tax charge in respect of prior periods
(4,245)
(13,441)

Remeasurement of deferred tax for changes in tax rates
20,211
7,127

Movement in deferred tax not recognised
-
(320)

TOTAL TAX CHARGE FOR THE YEAR
83,377
58,020


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 14

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


TANGIBLE FIXED ASSETS





Leasehold improvements
Plant and machinery
Motor vehicles
Total

£
£
£
£



COST


At 1 November 2023
56,086
223,094
234,716
513,896


Additions
-
213,650
117,834
331,484


Disposals
-
-
(35,599)
(35,599)



At 31 October 2024

56,086
436,744
316,951
809,781



DEPRECIATION


At 1 November 2023
56,086
17,525
28,332
101,943


Charge for the year on owned assets
-
41,041
72,954
113,995


Charge for the year on financed assets
-
44,690
-
44,690


Disposals
-
-
(5,580)
(5,580)



At 31 October 2024

56,086
103,256
95,706
255,048



NET BOOK VALUE



At 31 October 2024
-
333,488
221,245
554,733



At 31 October 2023
-
205,569
206,384
411,953


7.


DEBTORS

2024
2023
£
£


Trade debtors
2,603,493
2,512,833

Amounts owed by group and associated undertakings
2,030,598
674,241

Other debtors
361,145
431,370

Prepayments and accrued income
120,223
119,927

5,115,459
3,738,371


Page 15

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
2,356,682
2,002,167

Amounts owed to group and associated undertakings
2,394,093
1,740,581

Corporation tax
3,411
-

Other taxation and social security
68,861
19,293

Obligations under finance lease and hire purchase contracts
19,792
22,072

Other creditors
156,286
-

Accruals and deferred income
330,033
454,329

5,329,158
4,238,442


Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


9.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
71,461
-


Charged to profit or loss
66,525
71,461



AT END OF YEAR
137,986
71,461

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
138,683
102,988

Short term timing differences
(697)
-

Tax losses carried forward
-
(31,527)

137,986
71,461

Page 16

 
J F LINDSAY CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


PROVISIONS




Dilapidations

£





At 1 November 2023
65,000



AT 31 OCTOBER 2024
65,000


11.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



85 (2023 - 85) Ordinary shares of £1.00 each
85
85



12.


COMMITMENTS UNDER OPERATING LEASES

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
27,500
27,500

Later than 1 year and not later than 5 years
-
6,875

27,500
34,375

 
Page 17