REGISTERED NUMBER: |
ASHVALE CIVIL ENGINEERING |
LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
ASHVALE CIVIL ENGINEERING |
LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 6 |
Statement of Comprehensive Income | 10 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Notes to the Financial Statements | 13 |
ASHVALE CIVIL ENGINEERING |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditors |
3 Kensworth Gate |
200 - 204 High Street South |
Dunstable |
Bedfordshire |
LU6 3HS |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
The directors present their strategic report for the year ended 30 September 2024. |
REVIEW OF BUSINESS |
The companies principal activity in the year continued to be building contractors. |
The key financial and other performance indicators in the year were as follows: |
2024 | 2023 |
Turnover | 48,116 | 45385 |
Total Operating Profit | 4,902 | 2,323 |
Profit after tax | 3,642 | 1781 |
Shareholders funds | 8,809 | 5,484 |
All results are denoted in thousands. |
The directors are pleased with the results for the year. They believe that the business remains in a strong position. |
The financial statements have been prepared on a going concern basis. |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
PRINCIPAL RISKS AND UNCERTAINTIES |
Price/market risk |
The directors are aware of the risk from changes in prices and aim to adjust prices of such products to maintain margin in the face of such changes. The directors actively monitor competitor activity to ensure that the company is well positioned in the market place. However while the housing market remains buoyant, the impact of Brexit causing a slow down is a potential risk. |
Fair value interest rate risk |
Trade debtors and creditors do not attract interest and are therefore not subject to fair value interest rate risk. |
Credit risk |
The company monitors the risk on credit allowed to customers, credit control procedures are reviewed and revised as necessary to ensure any credit risk is kept to a minimum. |
Liquidity risk |
The company considers its exposure to liquidity risk to be comparatively low and has a conservative approach to expenditure and investments but reviews this on an ongoing basis. |
Covid 19/Future pandemic mitigation |
The company has instigated practices in line with government recommendations to mitigate the impact of a pandemic and the potential restrictions applied to businesses and the general public. The company has ensured that they operate in a safe environment and has taken measure to monitor the compliance and outcomes. The industry was in general been able to continue to operate subject to some restrictions. |
ON BEHALF OF THE BOARD: |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 September 2024 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
POLITICAL DONATIONS AND EXPENDITURE |
The company made the following donations in the year, all donations were for charitable purposes: |
Via Just giving £370 |
Vistry £1500 |
Other £50 |
DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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. |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHVALE CIVIL ENGINEERING |
LIMITED |
Opinion |
We have audited the financial statements of Ashvale Civil Engineering Limited (the 'company') for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHVALE CIVIL ENGINEERING |
LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Directors' Responsibilities Statement set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHVALE CIVIL ENGINEERING |
LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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, we considered the following: |
Audit response to risks identified |
-the nature of the industry and sector, control environment and business performance including the design of the remuneration policy; |
-results of our enquiries of management about their own identification and assessment of the risks of irregularities; |
-any matters we identified having obtained and reviewed the Company documentation of their policies and procedures relating to: |
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; |
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |
- the matters discussed among the audit engagement team, including tax regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK |
Companies Act, UK Corporate Governance Code and local tax legislation. |
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty. These included compliance with Financial Conduct Authority regulation for the UK operating segment and compliance with local legislation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHVALE CIVIL ENGINEERING |
LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditors |
3 Kensworth Gate |
200 - 204 High Street South |
Dunstable |
Bedfordshire |
LU6 3HS |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
STATEMENT OF COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
4,901,004 | 2,319,169 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 11 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium | 13 |
Capital redemption reserve | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Called up | Capital |
share | Retained | Share | redemption | Total |
capital | earnings | premium | reserve | equity |
£ | £ | £ | £ | £ |
Balance at 1 October 2022 |
Changes in equity |
Dividends | - | ( |
) | - | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 September 2023 |
Changes in equity |
Dividends | - | ( |
) | - | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 September 2024 |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Ashvale Civil Engineering Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 3.17(d); |
• | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); |
• | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A; |
• | the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include the useful economic life of fixed assets and intangibles and the warranty provision. |
Going concern |
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern in preparing its financial statements. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax together with income where it has obtained a right to consideration in exchange for its performance. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Current and deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
30.9.24 | 30.9.23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30.9.24 | 30.9.23 |
Directors | 3 | 3 |
Administrative | 16 | 13 |
Other staff | 31 | 30 |
30.9.24 | 30.9.23 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
3. | EMPLOYEES AND DIRECTORS - continued |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.9.24 | 30.9.23 |
£ | £ |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) |
Auditors' remuneration |
Stock recognised in cost of sales during the year as an expense |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.9.24 | 30.9.23 |
£ | £ |
Current tax: |
UK corporation tax |
Interest on corporation tax | 51,445 | 39,027 |
Total current tax |
Deferred tax | ( |
) |
Tax on profit |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
5. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
30.9.24 | 30.9.23 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Movement on deferred tax | (22,562 | ) | 56,819 |
Interest on corporation tax | 51,445 | 39,027 |
Total tax charge | 1,315,635 | 576,240 |
6. | DIVIDENDS |
30.9.24 | 30.9.23 |
£ | £ |
Ordinary A shares of £1 each |
Interim |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
8. | STOCKS |
30.9.24 | 30.9.23 |
£ | £ |
Valuation | 6,180,939 | 5,852,522 |
Raw materials |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade creditors |
Amounts owed to associates | 579,400 | 280,219 |
Corporation tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 7,800 | 589,260 |
Accrued expenses |
11. | PROVISIONS FOR LIABILITIES |
30.9.24 | 30.9.23 |
£ | £ |
Deferred tax | 40,908 | 63,470 |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
Provided during year | ( |
) |
Balance at 30 September 2024 |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
value: | £ | £ |
Ordinary A | £1 | 50 | 50 |
Ordinary B | £1 | 50 | 50 |
Ordinary C | £1 | 14 | 14 |
Ordinary E | £1 | 50 | 50 |
Ordinary D | £1 | 50 | 50 |
14 | Ordinary F | £1 | 14 | 14 |
228 | 228 |
13. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 October 2023 | 5,483,437 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 September 2024 | 8,806,595 |
14. | ULTIMATE PARENT COMPANY |
Ashvale Civil Engineering (Holdings) Limited is regarded by the directors as being the company's ultimate parent company. |
ASHVALE CIVIL ENGINEERING |
LIMITED (REGISTERED NUMBER: 04872193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
15. | RELATED PARTY DISCLOSURES |
The company was under the control of the directors. Mr S Cleary, Mr S Cunningham and Mr M Cunningham are also directors of the ultimate holding company Ashvale Civil Engineering (Holdings) Ltd. |
No dividends we paid to the directors in the year (2023 £Nil). |
A dividend of £73,434 (2023 £2,649,000) was paid to Ashvale Civil Engineering (Holdings) Ltd a company in which the directors are the shareholders. |
The company also traded on a arms length basis with Ashvale Plant Hire Ltd, a company registered in England & Wales. On the 24th July 2017 the whole of the share capital of this company was acquired by Civil Engineering (Holdings) ltd. During the year sales and management charges to Ashvale Plant Hire Ltd amounted to £Nil (2023 £Nil ) and hire of equipment and purchases from Ashvale Plant Hire Ltd amounted to £3,402,041 (2023 £3,368,572) |
As at 30 September 2024 amounts owed to Ashvale Plant Hire Ltd were £363,202 (2023 £333,125) |
As at 30 September 2024 amounts due from Ashvale Holdings Ltd were £27,906.(2023 £27,906) |
At September 2024 amounts due from Three Sea Homes were £Nil. (2023 £25,000) |
All transactions had the approval of the board. |
16. | ULTIMATE CONTROLLING PARTY |
On 17 December 2014, Ashvale Civil Engineering (Holding) Limited was formed. Through a reorganisation of the share structure, the whole share capital of Ashvale Civil Engineering Limited was acquired by the new company on the 18 February 2015. |
The directors appointed in Ashvale Engineering (Holding) Limited from formation are Mr S Cleary, Mr M Cunningham and Mr S Cunningham. |