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Financial Statements |
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Contents |
Page |
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Strategic report |
1 |
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Director's report |
3 |
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Independent auditor's report to the members |
5 |
|
Consolidated statement of comprehensive income |
9 |
|
Consolidated statement of financial position |
10 |
|
Company statement of financial position |
12 |
|
Consolidated statement of changes in equity |
13 |
|
Company statement of changes in equity |
14 |
|
Consolidated statement of cash flows |
15 |
|
Notes to the financial statements |
16 |
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|
Strategic Report |
| 2024 | 2023 | 2022 | ||
| £ | £ | £ | ||
| Turnover | 19,659,552 | 16,870,465 | 14,013,240 | |
| Gross profit | 3,742,285 | 2,906,419 | 2,049,618 | |
| Gross profit margin | 19 | 17 | 14 | |
| EBITDA | 3,290,798 | 2,729,271 | 2,487,356 | |
| Asset cover | 2 | 2 | 2 | |
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Director |
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Director's Report |
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Director |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered accountants & statutory auditor |
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4A Brecon Court |
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William Brown Close |
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Llantarnam Industrial Park |
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NP44 3AB |
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Consolidated Statement of Comprehensive Income |
|
2024 |
2023 |
||
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
------------- |
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Gross profit |
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Administrative expenses |
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------------ |
------------ |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
11 |
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------------ |
------------ |
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Profit for the financial year and total comprehensive income |
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------------ |
------------ |
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Consolidated Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
|
Intangible assets |
13 |
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Tangible assets |
14 |
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------------ |
------------ |
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Stocks |
16 |
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Debtors |
17 |
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Cash at bank and in hand |
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------------ |
------------ |
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Creditors: amounts falling due within one year |
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Trade creditors |
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Other creditors including taxation and social security |
18 |
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Accruals and deferred income |
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------------ |
------------ |
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------------ |
------------ |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
|||
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Bank loans and overdrafts |
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Other creditors including taxation and social security |
19 |
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------------ |
------------ |
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Taxation including deferred tax |
21 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Consolidated Statement of Financial Position (continued) |
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Director |
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Company Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
14 |
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Investments |
15 |
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------------ |
------------ |
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Debtors |
17 |
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Cash at bank and in hand |
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------------ |
------------ |
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Creditors: amounts falling due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors including taxation and social security |
18 |
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Accruals and deferred income |
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------------ |
------------ |
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||
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------------ |
--------- |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
|||
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Other creditors including taxation and social security |
19 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
|
|
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|
------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
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Consolidated Statement of Changes in Equity |
|
Called up share capital |
Profit and loss account |
Total |
||
|
£ |
£ |
£ |
||
|
At 1 January 2023 |
|
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Profit for the year |
|
|
||
|
---- |
------------ |
------------ |
||
|
Total comprehensive income for the year |
– |
|
|
|
|
Dividends paid and payable |
12 |
– |
(
|
(
|
|
---- |
------------ |
------------ |
||
|
Total investments by and distributions to owners |
– |
(
|
(
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At 31 December 2023 |
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Profit for the year |
|
|
||
|
---- |
------------ |
------------ |
||
|
Total comprehensive income for the year |
– |
|
|
|
|
Issue of shares |
|
– |
|
|
|
Dividends paid and payable |
12 |
– |
(
|
(
|
|
---- |
-------- |
-------- |
||
|
Total investments by and distributions to owners |
|
(
|
(
|
|
|
------- |
------------ |
------------ |
||
|
At 31 December 2024 |
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|
|
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|
------- |
------------ |
------------ |
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|
Company Statement of Changes in Equity |
|
Called up share capital |
Profit and loss account |
Total |
||
|
£ |
£ |
£ |
||
|
At 1 January 2023 |
|
|
|
|
|
Profit for the year |
|
|
||
|
---- |
------------ |
------------ |
||
|
Total comprehensive income for the year |
– |
|
|
|
|
Dividends paid and payable |
12 |
– |
(
|
(
|
|
---- |
------------ |
------------ |
||
|
Total investments by and distributions to owners |
– |
(
|
(
|
|
|
At 31 December 2023 |
|
|
|
|
|
Profit for the year |
|
|
||
|
---- |
------------ |
------------ |
||
|
Total comprehensive income for the year |
– |
|
|
|
|
Dividends paid and payable |
12 |
– |
(
|
(
|
|
---- |
-------- |
-------- |
||
|
Total investments by and distributions to owners |
– |
(
|
(
|
|
|
---- |
------------ |
------------ |
||
|
At 31 December 2024 |
|
|
|
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|
---- |
------------ |
------------ |
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|
Consolidated Statement of Cash Flows |
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Profit for the financial year |
|
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
|
Amortisation of intangible assets |
|
|
|
Other interest receivable and similar income |
(
|
(
|
|
Interest payable and similar expenses |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
Tax on profit |
|
|
|
Accrued (income)/expenses |
(
|
|
|
Changes in: |
||
|
Stocks |
(
|
(
|
|
Trade and other debtors |
(
|
(
|
|
Trade and other creditors |
|
(
|
|
------------ |
------------ |
|
|
Cash generated from operations |
|
|
|
Interest paid |
(
|
(
|
|
Interest received |
|
|
|
Tax paid |
(
|
(
|
|
------------ |
------------ |
|
|
Net cash from operating activities |
|
|
|
------------ |
------------ |
|
|
Purchase of tangible assets |
(
|
(
|
|
Proceeds from sale of tangible assets |
|
|
|
Proceeds from sale of interests in associates and joint ventures |
– |
|
|
------------ |
------------ |
|
|
Net cash used in investing activities |
(
|
(
|
|
------------ |
------------ |
|
|
Proceeds from issue of ordinary shares |
|
– |
|
Proceeds from borrowings |
(
|
(
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|
Proceeds from loans from participating interests |
– |
(
|
|
Payments of finance lease liabilities |
(
|
|
|
Dividends paid |
(
|
(
|
|
------------ |
------------ |
|
|
Net cash used in financing activities |
(
|
(
|
|
------------ |
------------ |
|
|
Net increase in cash and cash equivalents |
|
|
|
Cash and cash equivalents at beginning of year |
1,340,960 |
1,162,948 |
|
------------ |
------------ |
|
|
Cash and cash equivalents at end of year |
|
|
|
------------ |
------------ |
|
|
|
|
Notes to the Financial Statements |
|
Goodwill |
- |
|
|
|
Plant and machinery |
- |
|
|
|
Fixtures and fittings |
- |
|
|
|
Equipment |
- |
25
% straight line |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Amortisation of intangible assets |
|
|
|
Depreciation of tangible assets |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
Impairment of trade debtors |
73,393 |
100,621 |
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
|
|
2024 |
2023 |
|
|
No. |
No. |
|
|
Production staff |
|
|
|
Administrative staff |
|
|
|
Management staff |
1 |
1 |
|
---- |
---- |
|
|
|
|
|
|
---- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Remuneration |
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
--------- |
-------- |
|
|
|
|
|
|
--------- |
-------- |
|
|
2024 |
2023 |
|
|
No. |
No. |
|
|
Defined contribution plans |
|
|
|
---- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest on cash and cash equivalents |
|
|
|
------- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest on banks loans and overdrafts |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Other interest payable and similar charges |
– |
(
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
UK current tax income |
|
|
|
Adjustments in respect of prior periods |
– |
(
|
|
--------- |
--------- |
|
|
Total current tax |
|
|
|
--------- |
--------- |
|
|
Origination and reversal of timing differences |
|
|
|
--------- |
--------- |
|
|
Tax on profit |
|
|
|
--------- |
--------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Dividends on equity shares |
|
|
|
-------- |
-------- |
|
|
Group |
Goodwill |
|
£ |
|
|
Cost |
|
|
At 1 January 2024 |
|
|
Disposals |
(
|
|
--------- |
|
|
At 31 December 2024 |
|
|
--------- |
|
|
Amortisation |
|
|
At 1 January 2024 |
|
|
Charge for the year |
|
|
Disposals |
(
|
|
--------- |
|
|
At 31 December 2024 |
|
|
--------- |
|
|
Carrying amount |
|
|
At 31 December 2024 |
|
|
--------- |
|
|
At 31 December 2023 |
|
|
--------- |
|
|
Group |
Freehold land and buildings |
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|||||
|
At 1 January 2024 |
|
|
|
14,167 |
|
|
Additions |
– |
|
– |
9,910 |
|
|
Disposals |
– |
(
|
– |
– |
(
|
|
--------- |
------------ |
--------- |
-------- |
------------ |
|
|
At 31 December 2024 |
|
|
|
24,077 |
|
|
--------- |
------------ |
--------- |
-------- |
------------ |
|
|
Depreciation |
|||||
|
At 1 January 2024 |
– |
|
|
14,167 |
|
|
Charge for the year |
– |
|
|
1,553 |
|
|
Disposals |
– |
(
|
– |
– |
(
|
|
--------- |
------------ |
--------- |
-------- |
------------ |
|
|
At 31 December 2024 |
– |
|
|
15,720 |
|
|
--------- |
------------ |
--------- |
-------- |
------------ |
|
|
Carrying amount |
|||||
|
At 31 December 2024 |
|
|
|
8,357 |
|
|
--------- |
------------ |
--------- |
-------- |
------------ |
|
|
At 31 December 2023 |
|
|
|
– |
|
|
--------- |
------------ |
--------- |
-------- |
------------ |
|
|
Company |
Freehold land and buildings |
Plant and machinery |
Total |
|
£ |
£ |
£ |
|
|
Cost |
|||
|
At 1 January 2024 |
|
|
|
|
Additions |
– |
|
|
|
--------- |
--------- |
--------- |
|
|
At 31 December 2024 |
|
|
|
|
--------- |
--------- |
--------- |
|
|
Depreciation |
|||
|
At 1 January 2024 |
– |
|
|
|
Charge for the year |
– |
|
|
|
--------- |
--------- |
--------- |
|
|
At 31 December 2024 |
– |
|
|
|
--------- |
--------- |
--------- |
|
|
Carrying amount |
|||
|
At 31 December 2024 |
|
|
|
|
--------- |
--------- |
--------- |
|
|
At 31 December 2023 |
|
|
|
|
--------- |
--------- |
--------- |
|
|
Group |
Freehold land and buildings |
Plant and machinery |
Total |
|
£ |
£ |
£ |
|
|
At 31 December 2024 |
– |
|
|
|
---- |
------------ |
------------ |
|
|
At 31 December 2023 |
77,889 |
|
|
|
-------- |
------------ |
------------ |
|
|
Company |
Freehold land and buildings |
Plant and machinery |
Total |
|
£ |
£ |
£ |
|
|
At 31 December 2024 |
– |
|
|
|
---- |
--------- |
--------- |
|
|
At 31 December 2023 |
77,889 |
|
|
|
-------- |
--------- |
--------- |
|
|
Company |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
|
|
------------ |
|
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
------------ |
|
|
Carrying amount |
|
|
At 1 January 2024 and 31 December 2024 |
|
|
------------ |
|
|
At 31 December 2023 |
|
|
------------ |
|
|
2024 |
2023 |
||
|
£ |
£ |
||
|
RMG Groundworks Limited |
87,510 |
87,510 |
|
|
Rob Morris Plant Hire Limited |
100 |
100 |
|
|
RMR Sand and Aggregates Limited |
100 |
100 |
|
|
RMR Transport Limited |
100 |
100 |
|
|
The Construction Hub Academy Limited |
100 |
100 |
|
|
The Construction Hub Academy Wales Limited |
1,000,277 |
1,000,277 |
|
|
------------ |
------------ |
||
|
1,088,187 |
1,088,187 |
||
|
------------ |
------------ |
||
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Raw materials and consumables |
|
|
– |
– |
|
--------- |
-------- |
---- |
---- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
|
|
|
Amounts owed by group undertakings |
– |
– |
|
|
|
Deferred tax asset |
|
|
|
|
|
Prepayments and accrued income |
|
– |
– |
– |
|
Loan J2R Demolition Limited |
144,835 |
335,418 |
144,835 |
335,418 |
|
Mr R. Edwards |
100,000 |
– |
100,000 |
– |
|
Other debtors |
|
|
|
– |
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Corporation tax |
|
|
– |
– |
|
Social security and other taxes |
|
|
– |
|
|
Obligations under finance leases |
|
|
|
|
|
Director loan accounts |
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Obligations under finance leases |
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
|
|
Less: future finance charges |
(
|
(
|
(
|
(
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Present value of minimum lease payments |
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Group |
Deferred tax (note 22) |
|
£ |
|
|
At 1 January 2024 |
|
|
Additions |
|
|
--------- |
|
|
At 31 December 2024 |
|
|
--------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in debtors (note 17) |
|
|
|
|
|
Included in provisions (note 21) |
(
|
(
|
– |
– |
|
--------- |
--------- |
-------- |
-------- |
|
|
(
|
(
|
|
|
|
|
--------- |
--------- |
-------- |
-------- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
---- |
---- |
---- |
---- |
|
|
At 1 Jan 2024 |
Cash flows |
At 31 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
317,953 |
|
|
Debt due within one year |
(1,407,743) |
(52,597) |
(1,460,340) |
|
Debt due after one year |
(2,670,402) |
224,307 |
(2,446,095) |
|
------------ |
--------- |
------------ |
|
|
(
|
|
(
|
|
|
------------ |
--------- |
------------ |
|
|
|
|
Notes to the Financial Statements (continued) |
|
2024 |
||||
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
||
|
£ |
£ |
£ |
||
|
|
(
|
|
(
|
|
|
--------- |
-------- |
--------- |
||
|
2023 |
||||
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
||
|
£ |
£ |
£ |
||
|
|
(
|
|
(
|
|
|
--------- |
-------- |
--------- |
||
| 2024 | 2023 | ||
| £ | £ | ||
| Rent | 27,840 | 27,840 | |
| -------- | -------- | ||