Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312024-05-312023-06-01false2423falsefalsefalse 07649187 2023-06-01 2024-05-31 07649187 2022-06-01 2023-05-31 07649187 2024-05-31 07649187 2023-05-31 07649187 2022-06-01 07649187 c:Director1 2023-06-01 2024-05-31 07649187 c:RegisteredOffice 2023-06-01 2024-05-31 07649187 d:Buildings 2023-06-01 2024-05-31 07649187 d:Buildings 2024-05-31 07649187 d:Buildings 2023-05-31 07649187 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07649187 d:Buildings d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07649187 d:PlantMachinery 2023-06-01 2024-05-31 07649187 d:PlantMachinery 2024-05-31 07649187 d:PlantMachinery 2023-05-31 07649187 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07649187 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07649187 d:MotorVehicles 2023-06-01 2024-05-31 07649187 d:MotorVehicles 2024-05-31 07649187 d:MotorVehicles 2023-05-31 07649187 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07649187 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07649187 d:FurnitureFittings 2023-06-01 2024-05-31 07649187 d:FurnitureFittings 2024-05-31 07649187 d:FurnitureFittings 2023-05-31 07649187 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07649187 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07649187 d:OfficeEquipment 2023-06-01 2024-05-31 07649187 d:OfficeEquipment 2024-05-31 07649187 d:OfficeEquipment 2023-05-31 07649187 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07649187 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07649187 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07649187 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 07649187 d:Goodwill 2023-06-01 2024-05-31 07649187 d:Goodwill 2024-05-31 07649187 d:Goodwill 2023-05-31 07649187 d:CurrentFinancialInstruments 2024-05-31 07649187 d:CurrentFinancialInstruments 2023-05-31 07649187 d:Non-currentFinancialInstruments 2024-05-31 07649187 d:Non-currentFinancialInstruments 2023-05-31 07649187 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07649187 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07649187 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 07649187 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07649187 d:ShareCapital 2023-06-01 2024-05-31 07649187 d:ShareCapital 2024-05-31 07649187 d:ShareCapital 2022-06-01 2023-05-31 07649187 d:ShareCapital 2023-05-31 07649187 d:ShareCapital 2022-06-01 07649187 d:OtherMiscellaneousReserve 2023-06-01 2024-05-31 07649187 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 07649187 d:RetainedEarningsAccumulatedLosses 2024-05-31 07649187 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 07649187 d:RetainedEarningsAccumulatedLosses 2023-05-31 07649187 d:RetainedEarningsAccumulatedLosses 2022-06-01 07649187 c:OrdinaryShareClass1 2023-06-01 2024-05-31 07649187 c:OrdinaryShareClass1 2024-05-31 07649187 c:OrdinaryShareClass1 2023-05-31 07649187 c:FRS102 2023-06-01 2024-05-31 07649187 c:Audited 2023-06-01 2024-05-31 07649187 c:FullAccounts 2023-06-01 2024-05-31 07649187 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07649187 d:Subsidiary1 2023-06-01 2024-05-31 07649187 d:Subsidiary1 1 2023-06-01 2024-05-31 07649187 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 07649187 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 07649187 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 07649187 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 07649187 c:Consolidated 2024-05-31 07649187 c:ConsolidatedGroupCompanyAccounts 2023-06-01 2024-05-31 07649187 2 2023-06-01 2024-05-31 07649187 4 2023-06-01 2024-05-31 07649187 6 2023-06-01 2024-05-31 07649187 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 07649187 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 07649187 d:RetirementBenefitObligationsDeferredTax 2024-05-31 07649187 d:RetirementBenefitObligationsDeferredTax 2023-05-31 07649187 d:Goodwill d:OwnedIntangibleAssets 2023-06-01 2024-05-31 07649187 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07649187









CALLINGTON'S CONSTRUCTION LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
CALLINGTON'S CONSTRUCTION LIMITED
 

COMPANY INFORMATION


DIRECTOR
Mr P O Callington 




REGISTERED NUMBER
07649187



REGISTERED OFFICE
5 Sheene Road

Leicester

LE4 1BF




INDEPENDENT AUDITORS
Torr Waterfield Limited

Park House

37 Clarence Street

Leicester

LE1 3RW





 
CALLINGTON'S CONSTRUCTION LIMITED
 

CONTENTS



Page
Group Strategic Report
 
 
1 - 2
Director's Report
 
 
3 - 4
Independent Auditors' Report
 
 
5 - 8
Consolidated Statement of Comprehensive Income
 
 
9
Consolidated Balance Sheet
 
 
10 - 11
Company Balance Sheet
 
 
12 - 13
Consolidated Statement of Changes in Equity
 
 
14
Company Statement of Changes in Equity
 
 
15
Consolidated Statement of Cash Flows
 
 
16
Notes to the Financial Statements
 
 
17 - 38


 
CALLINGTON'S CONSTRUCTION LIMITED
 

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

INTRODUCTION
 
The director presents his strategic report for the group for the year to 31 May 2024.

BUSINESS REVIEW
 
The Group has continued to focus on its core activity of groundworks. The year ended 31 May 2024 has been challenging resulting in turnover declining by 38% (2023 - 23% decrease). However, the Group's gross profit margin has increased to 20% this year in comparison to 16% in the prior year.
These declines have been due to two groups that were significant customers entering administration in the previous year, therefore the current year is the first year without turnover from these two groups.
During the previous year a provision was made against specific customer debts totaling £3,375,302 which generated an operating loss of £2,686,119. In the current year, the provision has remained, however no change to the provision has been deemed necessary, as such an operating profit of £414,715 has been generated.
Despite these difficulties, cash at bank and in hand has increased to £2,517,478 (2023 - £2,465,224) but trade debtor days have increased to 66 days (2023 - 43 days).
For the year ended 31 May 2024, the liquidity position of the Group using the current ratio is 348% (2023 - 155%), this increase is due to the fall in trade creditors and tax and other social security.
The Group maintains a low gearing position of 25% (2023 - 17%), this demonstrates the strong position of the Group's financing options, despite the challenging performance in the year.

PRINCIPAL RISKS AND UNCERTAINTIES
 
The Director considers the following the main risks and uncertainites facing the Group.
Contracts running late:
The Group agrees completion dates for each customer contract which have to be adhered to otherwise financial penalties will become payable. 
Health and safety:
The Group is committed to maintaining high standards in regards to Health and Safety requirements to protect its employees, contractors and customer personnel. Management monitors legislation  regularly for updates and takes the appropiate action to communitcate these to the relevant personnel. 
Credit control:
All new customers are assessed for credit worthiness and periodic checks are carried out for existing customers. Management regularly monitor the trade debtor balances and maintain good relations with customers to ensure credit terms are adhered to.
Inflation:
In the 12 months to May 2024 inflation fell to 2% (2023 - 8.7%). The director monitors the group’s costs and the profit margins of individual contracts to manage the impact of inflation. Due to the nature of operations of the group, costs of raw materials will be impacted by inflation.
Rising interest rates:
The group holds a number of different liabilities which incur interest payable. Due to the inflation seen, interest rates have risen. However, the group’s liabilities, such as hire purchase obligations, are at fixed interest rates which mitigates the impact on the group.

Page 1

 
CALLINGTON'S CONSTRUCTION LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024

FINANCIAL KEY PERFORMANCE INDICATORS
 
The director considers that the group's key performance indicators (KPIs) are those that communicate the financial performance and the strength of the group as a whole to its members. The KPIs comprise turnover, gross profit margin, and operating profit, shown below.
                                                                                         2024                  2023 
                                                                                            £                       £
Turnover                                                                       15,013,350           24,184,791
Gross profit %                                                                     20.1%                  16.4%
Operating profit/(loss)                                                        414,715           (2,686,119)

OTHER KEY PERFORMANCE INDICATORS
 
The director monitors other performance indicators such as Health and Safety incidences and contracts won vs lost.


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







................................................
Mr P O Callington
Director

Date: 20 June 2025

Page 2

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2024

The Director presents his report and the financial statements for the year ended 31 May 2024.

PRINCIPAL ACTIVITY

The principle activity during the year was grounds work and building services.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £460,298 (2023 - loss £2,560,234).

Dividends of £1,000,000 (2023 - £Nil) were paid during the current year.

DIRECTOR

The Director who served during the year was:

Mr P O Callington 

DIRECTOR'S RESPONSIBILITIES STATEMENT

The Director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the Director to prepare financial statements for each financial year. Under that law the Director has 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 Director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the Director is required to:


select suitable accounting policies for the Group'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 Group will continue in business.

The Director is 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 the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

FUTURE DEVELOPMENTS

The Group will continue to seek profitable contracts from both existing and new customers.

Page 3

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024

DISCLOSURE OF INFORMATION TO AUDITORS

The Director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

he 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 and the Group's auditors are aware of that information.

AUDITORS

The auditorsTorr Waterfield Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

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







................................................
Mr P O Callington
Director

Date: 20 June 2025

Page 4

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CALLINGTON'S CONSTRUCTION LIMITED
 

OPINION


We have audited the financial statements of Callington's Construction Limited (the 'Parent Company') and its subsidiary (the 'Group') for the year ended 31 May 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated and Company Balance Sheets, the Consolidated Statement of Cash Flows, the Consolidated and Company Statement of Changes in Equity 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 Group's and of the Parent Company's affairs as at 31 May 2024 and of the Group's 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 Group 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 Director's 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 or the 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 Director with respect to going concern are described in the relevant sections of this report.


Page 5

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CALLINGTON'S CONSTRUCTION LIMITED (CONTINUED)


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Director is 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.


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 Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Director's Report have 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 Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's 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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the Parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Director's 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 Director's Responsibilities Statement set out on page 3, the Director is 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 Director determines 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 Director is responsible for assessing the Group's and the parent 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 Director either intends to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CALLINGTON'S CONSTRUCTION LIMITED (CONTINUED)


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 an Auditors' 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 Group 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:

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:
Understanding the nature of the industry and sector, control environment and business performance;
Consideration of the results of our enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities
Understanding the company's and group's policies and procedures on compliance with laws and regulations and management of fraud risk, including documentation of instances of non-compliance of laws and regulations and instances of actual, suspected or alleged fraud;
Consideration of matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud;
Understanding the legal and regulatory frameworks that the company and group operates in through enquiry of management and those charged with governance and understanding the company's industry and sector. The key laws and regulations that were considered to have an effect on material amounts and disclosures in the financial statements included the Companies Act and tax legislation.

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified:

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations described as having a direct effect on the financial statement;
Enquiring of management, those charged with governance and, where applicable, the company's solicitors concerning actual and potential litigation and claims;
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
Reviewing minutes of meetings of those charged with governance and, where applicable, correspondence with regulators;
Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;
Communication of potential fraud risks to all engagement team members and remaining alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


Page 7

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CALLINGTON'S CONSTRUCTION LIMITED (CONTINUED)


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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' 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 Auditors' 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.





Peter Morris FCA (Senior Statutory Auditor)
for and on behalf of Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
LE1 3RW

20 June 2025
Page 8

 
CALLINGTON'S CONSTRUCTION LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024

2024
2023
Note
£
£

  

Turnover
 4 
15,013,350
24,184,791

Cost of sales
  
(11,994,915)
(20,227,005)

Gross profit
  
3,018,435
3,957,786

Administrative expenses
  
(2,604,470)
(3,276,712)

Exceptional administrative expenses
  
-
(3,375,302)

Other operating income
 6 
750
8,109

Operating profit/(loss)
 7 
414,715
(2,686,119)

Interest receivable and similar income
 10 
128,908
53,678

Interest payable and similar expenses
 11 
(153,777)
(77,765)

Profit/(loss) before taxation
  
389,846
(2,710,206)

Tax on profit/(loss)
 12 
70,452
149,972

Profit/(loss) for the financial year
  
460,298
(2,560,234)

Profit/(loss) for the year attributable to:
  

Owners of the parent Company
  
460,298
(2,560,234)

  
460,298
(2,560,234)

Total comprehensive income for the year attributable to:
  

Owners of the parent Company
  
460,298
(2,560,234)

  
460,298
(2,560,234)

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 17 to 38 form part of these financial statements.

Page 9

 
CALLINGTON'S CONSTRUCTION LIMITED
REGISTERED NUMBER: 07649187

CONSOLIDATED BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 15 
711,030
904,974

Tangible assets
 16 
5,389,125
6,644,746

  
6,100,155
7,549,720

Current assets
  

Debtors: amounts falling due after more than one year
 18 
879,501
2,683,883

Debtors: amounts falling due within one year
 18 
11,326,295
14,438,318

Cash at bank and in hand
 19 
2,517,478
2,465,224

  
14,723,274
19,587,425

Creditors: amounts falling due within one year
 20 
(3,687,376)
(10,918,927)

Net current assets
  
 
 
11,035,898
 
 
8,668,498

Total assets less current liabilities
  
17,136,053
16,218,218

Creditors: amounts falling due after more than one year
 21 
(2,724,906)
(1,099,268)

Provisions for liabilities
  

Deferred taxation
 25 
(1,017,565)
(1,185,666)

  
 
 
(1,017,565)
 
 
(1,185,666)

Net assets excluding pension asset
  
13,393,582
13,933,284

Net assets
  
13,393,582
13,933,284


Capital and reserves
  

Called up share capital 
 26 
100
100

Profit and loss account
 27 
13,393,482
13,933,184

Equity attributable to owners of the parent Company
  
13,393,582
13,933,284

  
13,393,582
13,933,284


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

................................................
Mr P O Callington
Director

Date: 20 June 2025

The notes on pages 17 to 38 form part of these financial statements.
Page 10

 
CALLINGTON'S CONSTRUCTION LIMITED
REGISTERED NUMBER: 07649187

CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


Page 11

 
CALLINGTON'S CONSTRUCTION LIMITED
REGISTERED NUMBER: 07649187

COMPANY BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 15 
810,263
1,012,828

Tangible assets
 16 
5,389,122
6,644,743

Investments
 17 
2,075,629
2,075,629

  
8,275,014
9,733,200

Current assets
  

Debtors: amounts falling due after more than one year
 18 
879,501
2,683,883

Debtors: amounts falling due within one year
 18 
11,047,396
14,147,572

Cash at bank and in hand
 19 
2,517,477
2,465,224

  
14,444,374
19,296,679

Creditors: amounts falling due within one year
 20 
(5,484,687)
(12,704,402)

Net current assets
  
 
 
8,959,687
 
 
6,592,277

Total assets less current liabilities
  
17,234,701
16,325,477

  

Creditors: amounts falling due after more than one year
 21 
(2,724,906)
(1,099,268)

Provisions for liabilities
  

Deferred taxation
 25 
(1,017,565)
(1,185,666)

  
 
 
(1,017,565)
 
 
(1,185,666)

Net assets
  
13,492,230
14,040,543


Capital and reserves
  

Called up share capital 
 26 
100
100

Other changes in the profit and loss account

  

(1,000,000)
-

Profit and loss account carried forward
  
13,492,130
14,040,443

  
13,492,230
14,040,543


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

................................................
Mr P O Callington
Director

Date: 20 June 2025

The notes on pages 17 to 38 form part of these financial statements.
Page 12

 
CALLINGTON'S CONSTRUCTION LIMITED
REGISTERED NUMBER: 07649187

COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


Page 13

 
CALLINGTON'S CONSTRUCTION LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£


At 1 June 2022
100
16,493,418
16,493,518
16,493,518


Comprehensive income for the year

Loss for the year
-
(2,560,234)
(2,560,234)
(2,560,234)
Total comprehensive income for the year
-
(2,560,234)
(2,560,234)
(2,560,234)



At 1 June 2023
100
13,933,184
13,933,284
13,933,284


Comprehensive income for the year

Profit for the year
-
460,298
460,298
460,298
Total comprehensive income for the year
-
460,298
460,298
460,298


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,000,000)
(1,000,000)
(1,000,000)


At 31 May 2024
100
13,393,482
13,393,582
13,393,582


The notes on pages 17 to 38 form part of these financial statements.

Page 14

 
CALLINGTON'S CONSTRUCTION LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 June 2022
100
16,609,889
16,609,989


Comprehensive income for the year

Loss for the year
-
(2,569,446)
(2,569,446)
Total comprehensive income for the year
-
(2,569,446)
(2,569,446)



At 1 June 2023
100
14,040,443
14,040,543


Comprehensive income for the year

Profit for the year
-
451,687
451,687
Total comprehensive income for the year
-
451,687
451,687


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,000,000)
(1,000,000)


At 31 May 2024
100
13,492,130
13,492,230


The notes on pages 17 to 38 form part of these financial statements.

Page 15

 
CALLINGTON'S CONSTRUCTION LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024

2024
2023
£
£

Cash flows from operating activities

Profit/(loss) for the financial year
460,298
(2,560,234)

Adjustments for:

Amortisation of intangible assets
193,944
193,949

Depreciation of tangible assets
924,390
878,327

Loss on disposal of tangible assets
25,291
148,307

Interest paid
153,777
77,765

Interest received
(128,907)
(41,279)

Taxation charge
(70,452)
(149,972)

Decrease in debtors
3,719,813
8,522,881

(Decrease) in creditors
(5,936,649)
(367,184)

Corporation tax (paid)
(500)
(2,051,354)

Net cash generated from operating activities

(658,995)
4,651,206


Cash flows from investing activities

Purchase of tangible fixed assets
(319,785)
(659,816)

Sale of tangible fixed assets
927,551
626,517

Interest received
128,908
41,279

Net cash from investing activities

736,674
7,980

Cash flows from financing activities

Repayment of loans
(386,029)
(631,540)

Repayment of/new finance leases
909,005
(1,187,487)

Loans due from/(repaid to) directors
592,919
(1,385,381)

Dividends paid
(1,000,000)
-

Interest paid
(28,558)
(134,374)

HP interest paid
(112,762)
(61,912)

Net cash used in financing activities
(25,425)
(3,400,694)

Net increase in cash and cash equivalents
52,254
1,258,492

Cash and cash equivalents at beginning of year
2,465,204
1,206,712

Cash and cash equivalents at the end of year
2,517,458
2,465,204


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,517,458
2,465,204

2,517,458
2,465,204


Page 16

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

1.


GENERAL INFORMATION

Callington's Construction Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Unit 5 Sheene Road, Gorse Hill Industrial Estate, Leicester, Leicestershire, LE4 1BF. 
The principal activity of the group is that of construction projects and groundworks.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency of the financial statements is the Pound Sterling (£).

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

The following principal accounting policies have been applied:

 
2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

The results of both the parent and subsidiary undertaking included in the consolidated results are for the year ended 31 May 2024.

Page 17

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

GOING CONCERN

The Director has considered the going concern basis in preparing these financial statements. He has concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.
The financial statements do not include any adjustments that would be result from the withdrawal of this support.

 
2.4

REVENUE

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.

 
2.5

LEASED ASSETS: THE GROUP AS LESSEE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

INTEREST INCOME

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

 
2.7

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 18

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

PENSIONS

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.9

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 corporation 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 and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.


 
2.10

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

Page 19

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.12

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
15% Reducing balance
Motor vehicles
-
15% Reducing balance
Fixtures and fittings
-
15% Reducing balance
Office equipment
-
15% Reducing balance

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.

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.

Page 20

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.14

DEBTORS

Short term debtors are measured at transaction price.

 
2.15

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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

CREDITORS

Short term creditors are measured at the transaction price.

 
2.17

FINANCIAL INSTRUMENTS

The Group only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is found,
an impairment loss is recognised in the Consolidated Statement of Comprehensive Income.

 
2.18

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 21

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The Group makes certain estimates and judgements regarding the future which are continually evaluated based on historical experience and other factors, including the expected future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and judgements.
Recoverability of debt and contract assets- it is part of the process of gaining new business to carry out checks on the organisations for which the Group will carry out work. The value of individual contracts is substantial, and the risk of default is always present, so the estimates made of the non-recoverability of the debt and any expected credit losses by the Director is critical. During the year provision has been made of £50,000 (2023 - £3,375,302) against specific customer debts.
Revenue and profitability of construction contracts - individual contacts are negogiated so as to provide a reasonable return to the Group. The calculation of margin to be achieved and the pricing set by the director is of paramount importance to the success of the Group. The Director makes an accounting estimate which is an assessment of the stage of completion of construction contracts at the year end informed by cost incurred to the year end and professional certification of work completed.


4.


TURNOVER

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Construction contracts
13,999,818
21,370,601

Transport
985,857
2,790,190

Miscellaneous
27,675
24,000

15,013,350
24,184,791


All turnover arose within the United Kingdom.


5.


CONSTRUCTION CONTRACTS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Amounts due from customers for construction
contracts (note 17)
334,084
3,003,535
334,084
3,003,535

Amounts due to customers for construction
contracts (note 19)
123,776
1,233,869
123,776
1,233,869

Contract revenue recognised as revenue
during the year
13,999,818
21,370,601
13,999,818
21,370,601

Page 22

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

6.


OTHER OPERATING INCOME

2024
2023
£
£

Insurance claims receivable
750
8,109



7.


OPERATING PROFIT/(LOSS)

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

2024
2023
£
£

Amortisation of intangible assets
193,944
193,949

Depreciation - Owned assets
404,614
687,875

Depreciation - financed assets
519,776
190,542

(Profit) / loss on disposal of fixed assets
25,291
161,807


8.


AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
20,500
17,500

Page 23

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

9.


EMPLOYEES

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
889,463
785,828
889,463
785,828

Social security costs
88,909
100,940
88,909
100,940

Cost of defined contribution scheme
18,657
18,033
18,657
18,033

997,029
904,801
997,029
904,801


Director's remuneration is £Nil in both years.

The average monthly number of employees, including the Director, during the year was as follows:






Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Sales and administration
24
23
24
23


10.


INTEREST RECEIVABLE

2024
2023
£
£


Other interest receivable
128,908
53,678


11.


INTEREST PAYABLE AND SIMILAR EXPENSES

2024
2023
£
£


Bank interest payable
13,100
121,343

Other loan interest payable
1
2,262

Finance leases and hire purchase contracts
112,762
(56,609)

Other interest payable
27,914
10,769

153,777
77,765

Interest payable on finance leases and hire purchase contracts was negative in the prior year due to an error in the hire purchase liability and interest expense recognised in previous years.

Page 24

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

12.


TAXATION


2024
2023
£
£

Corporation tax


Current tax on profits for the year
97,649
(445,014)

Adjustments in respect of previous periods
-
82,772


97,649
(362,242)


Total current tax
97,649
(362,242)

Deferred tax


Origination and reversal of timing differences
(168,101)
212,270

Total deferred tax
(168,101)
212,270


(70,452)
(149,972)
Page 25

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
12.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit/(loss) on ordinary activities before tax
389,846
(2,710,206)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
97,462
(514,939)

Effects of:


Non-tax deductible amortisation of goodwill and impairment
48,486
36,850

Diasllowed expenses
4,516
12,514

Capital allowances for year in excess of depreciation
161,490
(197,946)

Utilisation of tax losses
(220,915)
-

Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax
147
99

Short term timing difference leading to an increase (decrease) in taxation
(168,101)
212,270

Book profit on chargeable assets
6,463
30,744

Capital gains
-
17,889

Unrelieved tax losses carried forward
-
167,895

Other differences
-
1,880

Prior year under/(over) provision of corporation tax
-
82,772

Total tax charge for the year
(70,452)
(149,972)

On the 1 April 2023 the main tax rate in the United Kingdom increased from 19% to 25%.
Deferred tax has been calculated using the tax rate substantively enacted at the balance sheet date.
There were no factors that may affect future tax charges.


13.


DIVIDENDS

2024
2023
£
£


Interim dividends
1,000,000
-

1,000,000
-

Page 26

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

14.


EXCEPTIONAL ITEMS

2024
2023
£
£


Bad debt write off
-
3,375,302


15.


INTANGIBLE ASSETS

Group





Goodwill

£



Cost


At 1 June 2023
2,189,344



At 31 May 2024

2,189,344



Amortisation


At 1 June 2023
1,284,370


Charge for the year on owned assets
193,944



At 31 May 2024

1,478,314



Net book value



At 31 May 2024
711,030



At 31 May 2023
904,974



Page 27

 
CALLINGTON'S CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
           15.INTANGIBLE ASSETS (CONTINUED)

Company




Goodwill

£



Cost


At 1 June 2023
2,025,653



At 31 May 2024

2,025,653



Amortisation


At 1 June 2023
1,012,825


Charge for the year
202,565



At 31 May 2024

1,215,390



Net book value



At 31 May 2024
810,263



At 31 May 2023
1,012,828

Page 28
 


 
CALLINGTON'S CONSTRUCTION LIMITED


 

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


16.


TANGIBLE FIXED ASSETS


Group







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 June 2023
498,752
7,715,028
1,984,044
20,509
45,041
10,263,374


Additions
-
202,997
401,668
10,794
6,151
621,610


Disposals
-
(1,362,496)
(183,133)
-
-
(1,545,629)



At 31 May 2024

498,752
6,555,529
2,202,579
31,303
51,192
9,339,355



Depreciation


At 1 June 2023
-
3,067,776
532,893
8,180
9,779
3,618,628


Charge for the year on owned assets
-
373,859
21,983
2,897
5,875
404,614


Charge for the year on financed assets
-
297,346
222,430
-
-
519,776


Disposals
-
(530,478)
(62,310)
-
-
(592,788)



At 31 May 2024

-
3,208,503
714,996
11,077
15,654
3,950,230



Net book value



At 31 May 2024
498,752
3,347,026
1,487,583
20,226
35,538
5,389,125



At 31 May 2023
498,752
4,647,252
1,451,151
12,329
35,262
6,644,746

Page 29
 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

           16.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
1,627,537
1,013,822

Motor vehicles
1,339,022
903,421

2,966,559
1,917,243

Page 30
 


 
CALLINGTON'S CONSTRUCTION LIMITED


 

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

           16.TANGIBLE FIXED ASSETS (CONTINUED)



Company







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£

Cost or valuation


At 1 June 2023
498,752
7,583,660
1,912,953
19,314
45,041
10,059,720


Additions
-
202,997
401,668
10,794
6,151
621,610


Disposals
-
(1,362,496)
(183,133)
-
-
(1,545,629)



At 31 May 2024

498,752
6,424,161
2,131,488
30,108
51,192
9,135,701



Depreciation


At 1 June 2023
-
2,936,408
461,802
6,988
9,779
3,414,977


Charge for the year on owned assets
-
373,859
21,983
2,897
5,875
404,614


Charge for the year on financed assets
-
297,346
222,430
-
-
519,776


Disposals
-
(530,478)
(62,310)
-
-
(592,788)



At 31 May 2024

-
3,077,135
643,905
9,885
15,654
3,746,579



Net book value



At 31 May 2024
498,752
3,347,026
1,487,583
20,223
35,538
5,389,122



At 31 May 2023
498,752
4,647,252
1,451,151
12,326
35,262
6,644,743

Page 31
 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

           16.TANGIBLE FIXED ASSETS (CONTINUED)






The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
1,627,537
1,013,822

Motor vehicles
1,339,022
903,421

2,966,559
1,917,243

Page 32

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

17.


FIXED ASSET INVESTMENTS

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
2,398,347



At 31 May 2024

2,398,347



Impairment


At 1 June 2023
322,718



At 31 May 2024

322,718



Net book value



At 31 May 2024
2,075,629



At 31 May 2023
2,075,629


SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Karl Watson Contracting Limited
1 Brook Park, Gaddesby Lane, Rearsby, Leicester, England, LE7 4ZB
Ordinary
100%

The aggregate of the share capital and reserves as at 31 May 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Aggregate of share capital and reserves

Karl Watson Contracting Limited
2,076,214

Page 33

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

18.


DEBTORS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due after more than one year

Other debtors
879,501
2,683,883
879,501
2,683,883


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due within one year

Trade debtors
2,721,273
2,868,985
2,721,273
2,868,985

Other debtors
8,118,901
8,410,315
7,840,001
8,119,575

Prepayments and accrued income
142,037
155,483
142,038
155,477

Amounts recoverable on long term contracts
344,084
3,003,535
344,084
3,003,535

11,326,295
14,438,318
11,047,396
14,147,572


As at 31 May 2024 a provision for £4.39 million (2023 - £4.39 million) has been recognised in relation to debts from customers which entered administration on 20 May 2023.


19.


CASH AND CASH EQUIVALENTS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
2,517,478
2,465,224
2,517,477
2,465,224

Less: bank overdrafts
(20)
(20)
(20)
(20)

2,517,458
2,465,204
2,517,457
2,465,204


Page 34

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

20.


CREDITORS: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
20
20
20
20

Bank loans
-
386,029
-
386,029

Payments received on account
123,776
1,233,869
123,776
1,233,869

Trade creditors
1,107,279
2,279,547
1,107,130
2,279,398

Amounts owed to group undertakings
-
-
2,076,212
2,069,233

Corporation tax
761,981
1,269,214
761,981
1,264,804

Other taxation and social security
258,022
3,792,924
257,571
3,792,474

Obligations under finance lease and hire purchase contracts
570,944
937,755
570,944
937,757

Other creditors
762,275
964,284
487,274
689,284

Accruals and deferred income
103,079
55,285
99,779
51,534

3,687,376
10,918,927
5,484,687
12,704,402


Obligations under finance leases and hire purchase contracts are secured against the fixed assets to which they relate. Bank loans are secured against the fixed assets to which they relate. Interest has been charged on finance leases and hire purchase contracts at a range between 6%-9%.
The aggregate of secured debts due in one year is £570,944 (2023 - £1,323,784).


21.


CREDITORS: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Net obligations under finance leases and hire purchase contracts
2,724,906
1,099,268
2,724,906
1,099,268

2,724,906
1,099,268
2,724,906
1,099,268


Obligations under finance leases and hire purchase contracts are secured against the fixed assets to which they relate. Bank loans are secured against the fixed assets to which they relate.
The aggregate of secured debts due in more than one year is £2,724,906 (2023 - £1,099,268).

Page 35

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

22.


LOANS


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
-
386,029
-
386,029



-
386,029
-
386,029



23.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Within one year
570,944
937,755
570,944
937,757

Between 1-5 years
2,724,906
1,099,268
2,724,906
1,099,268

3,295,850
2,037,023
3,295,850
2,037,025

24.


CONSOLIDATED ANALYSIS OF NET DEBT





At 1 June 2023
Cash flows
New finance leases
At 31 May 2024
£

£

£

£

Cash at bank and in hand

2,465,224

52,254

-

2,517,478

Bank overdrafts

(20)

-

-

(20)

Debt due within 1 year

(386,163)

386,029

-

(134)

Finance leases

(2,037,023)

2,221,173

(3,480,000)

(3,295,850)


42,018
2,659,456
(3,480,000)
(778,526)

Page 36

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

25.


DEFERRED TAXATION


Group



2024
2023


£

£






At beginning of year
(1,185,666)
(973,396)


Charged to profit or loss
168,101
(212,270)



At end of year
(1,017,565)
(1,185,666)

Company


2024
2023


£

£






At beginning of year
(1,185,666)
(973,396)


Charged to profit or loss
168,101
(212,270)



At end of year
(1,017,565)
(1,185,666)

The provision for deferred taxation is made up as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
(1,017,843)
(1,185,797)
(1,017,843)
(1,185,797)

Pension surplus
278
131
278
131

(1,017,565)
(1,185,666)
(1,017,565)
(1,185,666)





26.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 37

 
CALLINGTON'S CONSTRUCTION LIMITED
 

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

27.


RESERVES

Called up share capital

This represents the nominal value of shares that have been issued.

Profit and loss account

This includes all current and prior period retained profits and losses.


28.


PENSION COMMITMENTS

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £18,657 (2023 - £18,033). Contributions totalling £1,113 (2023 - £523) were payable to the fund at the balance sheet date and are included in creditors.


29.


RELATED PARTY TRANSACTIONS

The Group undertook transactions with companies in which the director holds an interest during the year consisting of sales of £810,183 (2023 - £4,709,034) and purchases of £2,062,704 (2023 - £3,772,620). Net year end trading balances due from companies in which the director holds an interest were £1,150,310 (2023 - £1,083,878) which are interest free and repayable on demand. These are shown within trade debtors and creditors. In addition, there were interest free and unsecured loans due from companies in which the director holds an interest amounting to £3,137,991 (2023 - £3,968,537). Repayments of £830,546 (2023 - advances of £1,315,511) were received on these loans during the year.
During the year, the Group undertook transactions with a group in which the director holds an interest consisting of sales of £Nil (2023 - £Nil). Year end trade debtors due from the aforementioned group were £2,041,159 (2023 - £2,041,159) which are interest free and repayable on demand. In addition, within other debtors there were interest free and unsecured loans due from the aforementioned group of £568,903 (2023 - £568,903). Due to the aforementioned group going into administration in previous years a bad debt provision amounting to £2,610,062 (2023 - £2,610,062) remains in place in respect of the debtor balances mentioned above.
Transactions with Directors
Key management personel of the group is considered to be the director of the Company. The director's remuneration is £Nil in both years.
During the year the Group continued its loan with the Director. Interest is charged on the balance at the official rate of interest and is repayable on demand and shown within other debtors. The balance of the Director's loan is £3,515,436 (2023 - £4,108,355). Advances in the year amounted to £417,877 (2023 - £1,437,066) and repayments amounted to £1,010,796 (2023 - £51,686).
During the year the Group had a loan balance owing to the Director's sole trader business. The balance is interest free and repayable on demand. This is shown within other creditors. The balance of the loan is £106,027 (2023 - £106,027).


30.


CONTROLLING PARTY

During the financial year the controlling party was Mr P Callington by virtue of his 100% shareholding in the Group.


Page 38