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Registered number: SC311182




















COLORADO CONSTRUCTION & ENGINEERING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


















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COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

COMPANY INFORMATION


Directors
D McGinigal 
G W Gibson 
J P Bownes 
R R Jordan (resigned 13 September 2024)
A Drain 
M Hamilton 
J G Archibald 




Company secretary
A Drain



Registered number
SC311182



Registered office
Colorado House 
11 Caputhall Road 
Deans Industrial Estate
Deans

Livingston

West Lothian

EH54 8AS




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants and Statutory Auditors

24 Blythswood Square

Glasgow

G2 4BG




Solicitors
Holmes Mackillop
109 Douglas Street

Glasgow

G2 4HB





 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

CONTENTS



Page
Strategic Report
1 - 4
Directors' Report
5 - 6
Independent Auditors' Report
7 - 10
Statement of Income and Retained Earnings
11
Statement of Financial Position
12
Statement of Changes in Equity
13 - 14
Notes to the Financial Statements
15 - 32

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

Introduction
 
The Directors present their Strategic Report for Colorado Construction and Engineering Limited for the year ended 30 November 2024. 

Business review and principal activities
 
Colorado Construction is a privately owned, Scottish based contractor with a strong current and future workload. The business has a consistently strong trading and cash position, secured through delivering an impressive portfolio of high-profile projects. Owned and operated by its directors, Colorado Construction benefits from the ‘hands-on’ leadership committed to delivering exceptional results. This commitment has led to long-standing relationships with core clients, some spanning over 18 years. Approximately 85% of the company’s annual workload is derived from repeat business, with the remainder secured through referrals and selective tendering
The expertise of Colorado Construction and Engineering Ltd sits within a diverse range of specific sectors. The business is centrally involved in the construction of distilleries, maturation warehouses, and other whisky production related projects. In addition to this, the business has extensive expertise and a track record in the construction of visitor centres, food and drinks production facilities, works to Listed Buildings together with the construction and refurbishment of individual ‘one-off’ high-value homes. The business also continues to develop its planned and reactive maintenance provision along with a growing special works capability, concentrating on smaller projects. 
In the year, the construction business completed significant distillery infrastructure projects for long-standing clients including the expansion of Glen Turner Distillery, and Inchdairnie Distillery. The company also completed maturation warehousing for these core clients, together with whisky maturation warehousing for the Wemyss family, this on the back of previous projects for Wemyss such as Kingsbarns Distillery in Fife. Colorado Construction undertook the expansion and reconfiguration of Lochranza Distillery on the Isle of Arran, and completed the construction of the UK’s first vertical distillery for Port of Leith in Edinburgh, the tallest distillery in the world. 
The business secured further projects to restore significant Listed Buildings for private clients. One such landmark project is restoration of Dalmeny House by South Queensferry, the home to the Earls of Rosebery since 1662. 
Colorado continued to undertake works in food-safe and factory environments, working for existing clients such as Quaker Oats, Ahlstrom Munksjo, and AG Barr. The business was also retained to deliver projects for Dollar Academy and Speyside Cooperage.

Page 1

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Business ownership and client delivery focus

In the closing stages of Colorado’s financial year ending November 2024, the business used its reserves to buy-back the majority shareholder’s entire equity and repaid a substantial element of the investor’s lending to the group.  Further, we agreed a structure that will allow the return of all investor lending in 2025.
This is a significant development for Colorado Construction and Engineering. It means that the holding company, Colorado Group Limited is now 100% owned by the operational directors who have the expertise and personal commitment in delivering projects to Colorado’s customers across Scotland. It will also remove all debt from the business during 2025.
Going through 2024 and into 2025, the Company continues to secure major projects in its areas of expertise including distilleries, maturation warehouses, and other drinks and food production facility construction projects. Given the recent trade deals with India, the world’s biggest market for whisky, the Directors see the whisky market continuing to be strong. 
Colorado Construction and Engineering continues to construct individual high-value homes, and future project opportunities in these fields continue in 2025 and beyond. Colorado Construction and Engineering Ltd has secured its reputation in the restoration and upgrade of listed buildings and continues to seek opportunities to develop further in this field. 
Developing relationships with clients and consultants is a key strength of Colorado Construction and Engineering Ltd and all staff members are actively encouraged to develop solid relationships with customers. Through a focus on fully understanding what is required by customers and then delivering beyond expectations Colorado Construction and Engineering aims to be the supplier of choice for those it works closely with and success in this area has translated into a secured workload in areas of central capability.  This is evident in the growing number of repeat business clients.

Management team, engineering, trades, and partner expertise
Colorado Construction and Engineering Ltd's success is driven by a diverse, highly skilled, and well-motivated management, technical, and commercial team. The company has a culture of inclusivity and innovation, ensuring low staff turnover and high team loyalty. Colorado Construction and Engineering employs a core of specialist construction managers, engineers, and supervisors, supported by a team of quantity surveyors, finance, and SHEQ personnel to manage and deliver our projects.
The business has a general works team undertaking general maintenance and smaller building and refurbishment projects. Also employed is a core team of painters and specialist labour. The highly skilled staff take pride in their expertise in the restoration field and in the quality of their work, all delivered through a dedicated team of knowledgeable managers and highly capable trades teams and suppliers. 
Business Reach
With our Head office based in Scotland’s central belt, this remains the main operation base.  This aligns with the business strategy of operating principally across central Scotland but with a Scotland-wide reach for key clients requiring its services.
The business has undertaken projects throughout Scotland, including the Highlands and Islands, and it actively aims to secure projects from its principal clients in these locations.




 

Page 2

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Health, safety & environment
Colorado Construction has a well-resourced in-house Health Safety and Environment team with well-developed management and safety management systems. The business holds the following accreditations:
 o SAFEcontractor - this allows automatic prequalification with over 210 major client groups. 
 o CHAS - this demonstrates competence in Health and Safety systems and procedures.
 o Constructionline - this accreditation is the UK’s largest and only government-owned prequalification       scheme for construction-related contractors.
 o RoSPA 2013 Silver Award denotes a high level of performance underpinned by sound management       systems that deliver consistent improvement

Key financial performance indicators
 
Since its inception, Colorado Construction and Engineering Ltd has maintained profitability, with only one exception in 2018 due to an extraordinary loss on a specific project. 
Colorado Construction has continued its strong operational performance and robust financial position, with the accounts for Colorado Construction and Engineering Ltd demonstrating a strong profit in the region of £874k in the year ending November 2024, and this level of return is expected going into 2025 and beyond. The company has concentrated on its core competencies, ensuring sustained profitability and demonstrating its resilience and strategic focus.
Colorado Construction and Engineering Limited’s profitability was strong in the year and achieved net profit before tax of over £852k on a gross turnover of £21.1m
The key financial performance indicators monitored by the company are profit allied to turnover. Turnover in core business activities within Colorado Construction and Engineering Ltd fell slightly to £21.1m from £22.4m in 2023 and £25.4m in 2022. However, in 2024, the business is reporting a pre-tax operating profit of £867k an improvement against the pre-tax operating profit of just over £525k in 2023. The strengthening of the net profit before tax has been driven by the continuing strong customer relationships and careful project selectivity.

Principal risks and uncertainties
 
One of the principal challenges facing the company is supply chain delivery concerns and growing inflationary pressures necessitating continued regular assessments of workload, liquidity, and profitability. This has informed the directors’ view that the business remains resilient. The directors expect the business to remain strongly profitable throughout 2025 and beyond. Colorado Construction and Engineering remains focused on cost efficient and relevant delivery by ensuring a tight and efficient cost base. The Directors continue to undertake regular assessments of the business and therefore the directors are confident that Colorado Construction & Engineering Ltd remains focused on maintaining existing customer relationships, developing new ones and new income streams whilst ensuring a robust and profitable workload.
Further business risks are those related to the ongoing uncertain economic conditions associated with the war in Ukraine and any tariff impacts from the USA, especially steel. The Directors do not believe that these issues will have a direct impact on the Company’s operations; however, there continues to be uncertainty regarding their economic and political impact on the wider economy. The Directors continue to closely monitor the unfolding developments.
In summary, the business strategy of concentrating on core customers, looking to innovate, and strengthening its areas of core competence has proved a sound basis for the company to remain profitable and competent in delivering beyond its customer’s requirements.
Page 3

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Summary
 
In overall summary, building on a reputation based on high profile, successfully completed projects, Colorado Construction’s future business includes an enviable client portfolio with the core of work coming from an area of significant growth in the Scottish and UK economy. This principal source of work with a future secured volume for the next 5 years with existing clients, will enable the business to develop a further future workload in our other areas of core competence. This coming through referrals from existing clients and through opening the business up to new customers wishing to engage our services. Colorado Construction has a loyal, highly competent and motivated team to ensure effective delivery of this workload.  The Board expects the business’s proven profitability to continue.


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



J P Bownes
Director

Date: 31 July 2025
Page 4

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

Directors' responsibilities statement

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

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


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

make judgments and accounting estimates that are reasonable and prudent;

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

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

Results and dividends

The profit for the year, after taxation, amounted to £873,942 (2023 - £396,366).

The Directors declared a dividend of £1,600,000 in the current year (2023 - £Nil).

Directors

The directors who served during the year were:

D McGinigal 
G W Gibson 
J P Bownes 
R R Jordan (resigned 13 September 2024)
A Drain 
M Hamilton 
J G Archibald 

Future developments

The Company continues to secure major projects in its areas of expertise including distilleries, maturation warehouses, and other drinks and food production facility construction projects. Given the recent trade deals with India, the world’s biggest market for whisky, the Directors see the whisky market continuing to be strong. Colorado Construction and Engineering continues to construct individual high-value homes, and future project opportunities in these fields continue in 2025 and beyond. Colorado Construction and Engineering Ltd has secured its reputation in the restoration and upgrade of listed buildings and continues to seek opportunities to develop further in this field.

Page 5

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Matters covered in the Strategic Report

The Company's business review and principal activities, principal risks and uncertainties and key financial performance indicators are disclosed within the Strategic Report.

Disclosure of information to auditors

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

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

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

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

This report was approved by the board on 31 July 2025 and signed on its behalf.
 





J P Bownes
Director
Page 6

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

Opinion


We have audited the financial statements of Colorado Construction & Engineering Limited (the 'Company') for the year ended 30 November 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the 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 Company's affairs as at 30 November 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 United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 7

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

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


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


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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


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
Page 8

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING LIMITED (CONTINUED)


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


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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence,  capabilities and knowledge of the Company to identify or recognise non-compliance with applicable laws    and regulations. 
• we identified the laws and regulations applicable to the company through discussions with directors and    other management and review of appropriate industry knowledge. Key laws and regulations we identified   during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK  health and safety legislation;
• we assessed the extent of compliance with the laws and regulations identified above by making enquiries  of management and
• identified laws and regulations were communicated within the audit team regularly and the team     remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their    knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and    regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures as a risk assessment tool to identify any unusual or unexpected     relationships;
• tested journal entries recorded on the Company’s finance system to identify unusual transactions that    may indicate override of controls;
• reviewed key judgements and estimates for any evidence of management bias.
• reviewed the application of accounting policies with focus on those with heightened estimation     uncertainty.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation and
• enquiring of management to identify actual and potential litigation and claims.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

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
Page 9

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING LIMITED (CONTINUED)


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.





Martin Johnston (Senior Statutory Auditor)
  
for and on behalf of
Armstrong Watson Audit Limited
 
Chartered Accountants and Statutory Auditors
  
Glasgow

1 August 2025
Page 10

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
21,116,867
22,438,710

Cost of sales
  
(18,898,818)
(20,672,730)

Gross profit
  
2,218,049
1,765,980

Administrative expenses
  
(1,402,684)
(1,240,729)

Other operating income
 5 
51,942
-

Operating profit
 6 
867,307
525,251

Interest receivable and similar income
 10 
475
9

Interest payable and similar expenses
 11 
(16,066)
(23,587)

Profit before tax
  
851,716
501,673

Tax on profit
 12 
22,226
(105,307)

Profit after tax
  
873,942
396,366

  

  

Retained earnings at the beginning of the year
  
1,545,717
1,149,352

  
1,545,717
1,149,352

Profit for the year
  
873,941
396,366

Dividends declared and paid
  
(1,600,000)
-

Retained earnings at the end of the year
  
819,658
1,545,718
The notes on pages 15 to 32 form part of these financial statements.
Page 11

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
REGISTERED NUMBER: SC311182

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 14 
78,505
137,658

  
78,505
137,658

Current assets
  

Debtors
 15 
7,380,578
7,067,461

Cash at bank and in hand
 16 
1,736,779
2,491,284

  
9,117,357
9,558,745

Creditors: amounts falling due within one year
 17 
(8,351,605)
(7,990,687)

Net current assets
  
 
 
765,752
 
 
1,568,058

Total assets less current liabilities
  
844,257
1,705,716

Creditors: amounts falling due after more than one year
 18 
(12,797)
(130,456)

Provisions for liabilities
  

Deferred tax
 21 
(11,700)
(29,442)

  
 
 
(11,700)
 
 
(29,442)

Net assets
  
819,760
1,545,818


Capital and reserves
  

Called up share capital 
 22 
100
100

Profit and loss account
 23 
819,660
1,545,718

  
819,760
1,545,818


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




J P Bownes
Director

Date: 31 July 2025

The notes on pages 15 to 32 form part of these financial statements.
Page 12

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2023
100
1,545,718
1,545,818


Comprehensive income for the year

Profit for the year

-
873,942
873,942


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
873,942
873,942


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,600,000)
(1,600,000)


Total transactions with owners
-
(1,600,000)
(1,600,000)


At 30 November 2024
100
819,660
819,760


The notes on pages 15 to 32 form part of these financial statements.
Page 13

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2022
100
1,149,352
1,149,452


Comprehensive income for the year

Profit for the year

-
396,366
396,366


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
396,366
396,366


Total transactions with owners
-
-
-


At 30 November 2023
100
1,545,718
1,545,818


The notes on pages 15 to 32 form part of these financial statements.

Page 14

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Colorado Construction & Engineering Limited is a private company limited by shares registered in
Scotland. Registered number SC311182. The Company's registered office and principal place of business is Colorado House, 11 Caputhall Road, Deans Industrial Estate, Deans, Livingston, EH54 8AS.

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 Company's functional and presentational currency is GBP and amounts are rounded to the nearest £.

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

The following principal accounting policies have been applied:

 
2.2

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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Colorado Group Limited as at 30 November 2024 and these financial statements may be obtained from Crown Way, Cardiff, CF14 3UZ.

 
2.3

Going concern

In making their going concern assessment the Directors have prepared financial forecasts which
extend to 31 August 2026. These show that the business is expected to have sufficient cash
reserves to meet its liabilities as they fall due for a period of at least one year from the date the
financial statements are signed. Therefore, the Directors consider it appropriate to prepare the financial statements on a going concern basis.
 

Page 15

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover can be measured reliably;
it is probable that the Company 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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 16

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

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

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

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

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


 
2.11

Tangible fixed assets

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

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

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

Depreciation is provided on the following basis:

Leasehold improvements
-
10%
straight line
Plant and machinery
-
25%
straight line
Motor vehicles
-
33%
straight line
Fixtures and fittings
-
33%
- 50% straight line

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

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

Page 17

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.12

Debtors

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

 
2.13

Cash and cash equivalents

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

 
2.14

Creditors

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

 
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 18

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 19

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)


Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

  
2.18

Amounts recoverable on contracts

Where contractual obligations are performed gradually over time, the revenue is recognised as contract activity progresses to reflect the partial performance of these obligations.
The progress of the contract is determined through monthly site surveys attended by representatives of the company and the specific customer at which measurements are taken and agreed between the two parties.
The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to the value of the work performed.

 
2.19

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 20

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 2, the Directors are
required to make judgements, estimates and assumptions about the carrying amount of assets and
liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The calculation of accruals and provisions contains an inherent level of subjectivity. The Directors
consider that the current level of accruals and provisions represents the best estimate of the likely
exposure. Key judgements are also made regarding the valuation of construction projects at the year end, which impacts revenue, where agreed third party valuations are performed in advance of this date. The Directors consider that internal valuations of the work performed in this period are accurate given the
experience of and knowledge of the quantity surveyors employed.


4.


Turnover

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


2024
2023
£
£

Construction, engineering and refurbishment
21,116,867
22,438,710

21,116,867
22,438,710


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
21,116,867
22,438,710

21,116,867
22,438,710



5.


Other operating income

2024
2023
£
£

Other operating income
51,942
-

51,942
-


Page 21

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Loss/profit before tax

The loss/profit before tax is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
68,347
62,688

Other operating lease rentals
52,500
52,500


7.


Auditors' remuneration

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


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements

21,000
21,000

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


8.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,965,553
2,097,533

Social security costs
46,866
52,554

Cost of defined contribution scheme
224,530
120,047

2,236,949
2,270,134


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


        2024
        2023
            No.
            No.







38
39

Page 22

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Directors' remuneration

2024
2023
£
£



Directors' emoluments
475,985
528,245

Company contributions to defined contribution pension schemes
200,943
105,040

676,928
633,285

During the year retirement benefits were accruing to 6 directors (2023 - 6) in respect of defined contribution pension schemes.
The highest paid director received remuneration of £89,000  (2023 - £103,494).
The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £51,323 (2023 - £17,000).
The Director's of the parent company are considered to be key management.


10.


Interest receivable

2024
2023
£
£


Other interest receivable
475
9

475
9


11.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
13,820
21,837

Finance leases and hire purchase contracts
2,246
1,750

16,066
23,587

Page 23

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
92,658

Adjustments in respect of previous periods
(4,484)
110


(4,484)
92,768


Total current tax
(4,484)
92,768

Deferred tax


Origination and reversal of timing differences
(17,722)
7,347

Adjustments in respect of prior periods
(20)
(111)

Effect of tax rate change on opening balance
-
5,303

Total deferred tax
(17,742)
12,539


Taxation on (loss)/profit on ordinary activities
(22,226)
105,307
Page 24

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 23.01%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
851,716
501,674


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.01%)
212,929
115,440

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
25,272
3,268

Capital allowances for year in excess of depreciation
(4,202)
3,149

Adjustments to tax charge in respect of prior periods
(4,484)
-

Adjustments to tax charge in respect of prior periods - deferred tax
(20)
-

Non-taxable income
(12,986)
-

Group relief surrendered/(claimed)
(238,735)
(22,438)

Remeasurement of deferred tax for 
changes in tax rates
-
5,888

Total tax charge for the year
(22,226)
105,307


Factors that may affect future tax charges

There were no factors that may affect future tax charges.




13.


Dividends

2024
2023
£
£


Dividends paid
1,600,000
-

1,600,000
-

Page 25

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

14.


Tangible fixed assets





Leasehold Improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 December 2023
146,138
105,185
89,207
51,139
391,669


Additions
-
-
-
10,263
10,263


Disposals
-
(5,315)
-
(7,941)
(13,256)



At 30 November 2024

146,138
99,870
89,207
53,461
388,676



Depreciation


At 1 December 2023
111,839
76,698
24,509
40,963
254,009


Charge for the year on owned assets
14,614
16,095
27,016
10,622
68,347


Disposals
-
(4,254)
-
(7,931)
(12,185)



At 30 November 2024

126,453
88,539
51,525
43,654
310,171



Net book value



At 30 November 2024
19,685
11,331
37,682
9,807
78,505



At 30 November 2023
34,299
28,487
64,697
10,175
137,658

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


2024
2023
£
£



Plant and machinery
1,797
7,917

Motor vehicles
37,562
64,453

39,359
72,370
Page 26

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

15.


Debtors

2024
2023
£
£



Trade debtors
4,711,038
4,365,850

Amounts owed by group undertakings
2,366,453
1,944,184

Amounts owed by joint ventures and associated undertakings
-
187,928

Other debtors
102,158
-

Prepayments and accrued income
200,929
569,499

7,380,578
7,067,461



16.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,736,779
2,491,284

1,736,779
2,491,284



17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
93,767
84,453

Trade creditors
3,155,886
2,598,159

Amounts owed to related undertakings
-
210,647

Corporation tax
-
94,166

Other taxation and social security
825,005
769,385

Obligations under finance lease and hire purchase contracts
17,162
20,131

Other creditors
56,096
78,655

Accruals and deferred income
4,203,689
4,135,091

8,351,605
7,990,687


Page 27

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

18.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,020
105,520

Net obligations under finance leases and hire purchase contracts
7,777
24,936

12,797
130,456



19.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
93,767
84,453


93,767
84,453

Amounts falling due 1-2 years

Bank loans
5,020
105,520


5,020
105,520



98,787
189,973


The Company obtained loan funding of £250,000 through the CBILS in October 2020, with the first 12
months being interest free with no capital repayments due. After the initial 12 month period, the loan is
due for repayment over 4 years via monthly installments and incurs interest at a rate of 8.9%. The loan is
unsecured.
The Company obtained loan funding of £100,000 through the CBILS in January 2021, with the first 12
months being interest free with no capital repayments due. After the initial 12 month period, the loan is
due for repayment over 4 years via monthly installments and incurs interest at a rate of 10.1%. The loan
is unsecured.
 

Page 28

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

20.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
17,162
20,131

Between 1-5 years
7,776
24,937

24,938
45,068


21.


Deferred taxation




2024


£






At beginning of year
(29,442)


Charged to profit or loss
17,742



At end of year
(11,700)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(11,700)
(29,442)

(11,700)
(29,442)


22.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



23.


Reserves

Profit and loss account

The profit and loss account includes all current and prior periods' retained profits and losses net of
dividends paid.

Page 29

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

24.


Pension commitments

The Company makes payments to a defined contribution pension scheme. The assets of the scheme are
held separately from those of the Company in an independently administered fund. The pension cost
charge represents contributions payable by the Company to the fund and amounted to £296,240 (2023 -£196,650). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the reporting date and are included in creditors.


25.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
55,000
55,000

Later than 1 year and not later than 5 years
-
55,000

55,000
110,000

2024
2023

£
£


Not later than 1 year
26,514
27,629

Later than 1 year and not later than 5 years
-
26,514

26,514
54,143

Page 30

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

26.


Related party transactions

As a wholly owned subsidiary undertaking of Colorado Group Limited, the Company has taken advantage
of the exemption granted by FRS 102 not to disclose transactions with its parent undertaking or other
wholly owned fellow subsidiary undertakings.
During the year the Company received services from Nu-phalt Group Limited at a value of £8,820 (2023 - £7,770). At the year end, the Company owed £Nil (2023 - £210,647) to Nu-phalt Group Limited.
During the year the Company provided services to Nu-phalt Limited at a value of £16,500 (2023 -£16,500). At the year end the Company was due £Nil (2023 - £108,212) from Nu-phalt Limited.
During the year the Company provided services to Nu-phalt Contracting Limited at a value of £1,500 (2023 - £1,450). At the year end, the Company was due £Nil (2023 - £78,291) from Nu-phalt Contracting Limited.
During the year the Company received services from Clean Burner Systems Limited at a value of £145,510 (2023 - £686,743). At the year end, the Company owed £31,654 (2023 - £134,875) to Clean Burner Systems Limited.
At the year end, the Company was owed £Nil (2023 - £1,425) from Clean Burner Systems Limited. There were services provided to Clean Burner Systems of £Nil (2023 - £Nil).
During the year, the Company received services from John Fergus Engineering Co Ltd at a value of £262,800 (2023 - £222,803). At the year end, the Company owed £Nil to John Fergus Engineering Co Limited (2023 - £36,000).
During the year, the Company made advances of £2.2m (2023: £Nil) to John Fergus Engineering Co Limited. Amounts repaid during the year totalled £2.2m (2023: £Nil). The loan was unsecured and repaid in full during the year.

During the year, the Company received services from JFE Groundworks Limited at a value of £612,070 (2023 - £Nil). At the year end, the Company owed £37,947 (2023 - £Nil) to JFE Groundworks Limited.
 
During the year, the Company made advances of £60,000 (2023: £Nil) to JFE Groundworks Limited. At the year end, the Company was due £60,000 (2023: £Nil) from JFE Groundworks Limited. The loan is unsecured.
John Fergus Engineering Co Ltd and JFE Groundworks Limited are companies under common control. 
Until the settlement date of the outstanding balances Nu-phalt Group Limited, Nu-phalt Limited, Nu-phalt Contracting Limited and Clean Burner Systems Limited were companies under common control. 
Key management remuneration is disclosed within note 8 of the financial statements.

During the year, the Company made advances of £60,000 (2023: £Nil) to Directors. At the year end, the Company was due £Nil (2023: £Nil) from Directors. 

Page 31

 
COLORADO CONSTRUCTION & ENGINEERING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

27.


Parent undertaking and controlling party

The Company's immediate and ultimate parent undertaking is Colorado Group Limited, a company
registered in Scotland, which is the smallest and largest group of companies for which group financial
statements are prepared. Colorado Group Limited's registered office and principal place of business is
Colorado House, 11 Caputhall Road, Deans Industrial Estate, Deans, Livingston, EH54 8AS. Copies of
the financial statements of Colorado Group Limited are available to the public from Companies House, Crown Way, Cardiff, CF14 3UZ,
In the opinion of the Directors,  J P Bownes & G W Gibson are the Company's controlling party by virtue of their joint majority shareholding in the parent undertaking.

Page 32