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REGISTERED NUMBER: 01729334 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

DURKIN AND SONS LIMITED

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Profit and Loss Account 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


DURKIN AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2025







DIRECTORS: B Murphy
M E Durkin
E C Durkin





SECRETARY: E C Durkin





REGISTERED OFFICE: Unit 1, Phoenix Trading Estate
Bilton Road
Perivale
Middlesex
UB6 7DZ





REGISTERED NUMBER: 01729334 (England and Wales)





AUDITORS: Sproull & Co.
Chartered Accountants
Statutory Auditors
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2025


The directors present their strategic report for the year ended 31st March 2025.

BUSINESS REVIEW
The financial year ended 31 March 2025 has been a transformative and successful period for Durkin and Sons Ltd, marked by structural evolution and strong operational performance.

In June 2024, the company became employee-owned through the transfer of all shares to an Employee Ownership Trust (EOT). This significant development demonstrates the company's commitment to long-term sustainability, inclusive growth, and employee empowerment. The transition helps secure the legacy and values of the business, while positioning it for future resilience and collaboration. The business has recruited successfully and has a more targeted approach to developing its people and long-term success

During the year, a new Managing Director was appointed, bringing renewed strategic focus, energy, and leadership to the business. This change has already contributed to enhanced operational direction and clearer execution across key areas of the business.

The directors consider the following Key Performance Indicators (KPIs) to be relevant to the company:

KPI 2025 2024 2023 2022
Turnover £13,699,637 £11,186,890 £7,444,398 £5,069,580
Gross Profit £2,854,427 £2,021,783 £1,316,174 £469,644
Gross Profit Margin 20.83% 18.07% 17.68% 9.26%
Net Profit/(Loss) £437,805 £101,308 (£313,441 ) (£996,535 )

Financial Performance
The company's financial results for the year reflect a significant improvement over the prior year. Key highlights include:
- A strong increase in profitability, reflecting disciplined execution and improved project delivery.
- Gross margin improved, driven by refined pricing strategies and greater project efficiency.
- Overheads were consolidated and remain well controlled, resulting in improved operating leverage.
- A strong operating profit was delivered, underlining the effectiveness of the business model and operational
controls.
- Greater onus on cost management and control at project level.
- Financial success has allowed the board approval for payments to the vendors.

Outlook
Looking ahead, Durkin and Sons Ltd is well positioned for continued growth and market presence. Durkin and Sons continue to focus its time, energy and experience in the Power and Transmission sector that is forecast to remain buoyant for the foreseeable future. The company has already secured more than £20 million of contracted work for the financial year ending 31 March 2026, providing strong forward visibility and revenue assurance. Durkin and Sons now has a more diverse and balanced portfolio of contracts across the UK operating as both Principal Contractor and Tier 2 contractor.

Importantly, the experience and industry networks of the new management team have started to unlock new business opportunities across both established and emerging markets. These strategic relationships are helping to generate new leads, foster collaborations, and extend the company's market reach. The exiting directors remaining supportive to the success of the business, its legacy and fully committed to the business maintaining a strong cash position.

Durkin and Sons has greater visibility on it forecasting, costs and project performance. The Directors are confident that the business is entering a new phase of sustainable growth, supported by a strong order book, improved profitability, and an engaged employee-owned workforce.


DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2025

PRINCIPAL RISKS AND UNCERTAINTIES
The Board of Directors has ultimate responsibility for risk management. This responsibility requires an understanding of the key risks, recognition and oversight of the measures in place to manage and minimise risks and the acceptance of residual risks.

The principal risks faced by the company are as follows:

- Health and Safety: implementing effective management systems and working practices
- Regulatory compliance: complying fully with applicable laws and regulations
- Customer reliance: dependence on, and volatility of, client expenditure in the civil engineering and utility
contracting industries
- Project and work package execution: completing contracts to programme requirements
- People management: attracting and retaining skilled personnel

Going Concern
After reviewing the company's financial position, management believes the business will continue as a going concern. This assessment is based on the company's ability to generate sufficient cash flow from operations, its current liquidity position, and ongoing support from key stakeholders. Additionally, management is implementing a series of cost-cutting measures and pursuing new revenue-generating opportunities, which are expected to further strengthen the company's financial stability. The company has no significant concerns regarding its ability to meet its short-term and long-term obligations.


ON BEHALF OF THE BOARD:





B Murphy - Director


25th July 2025

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2025


The directors present their report with the financial statements of the company for the year ended 31st March 2025.

PRINCIPAL ACTIVITY
Durkin and Sons Ltd is a leading provider of distribution and transmission cable installation networks and associated engineering services. We specialise in the design, installation, and maintenance of LV to EHV electrical infrastructure, serving utilities, industrial clients, and large-scale projects across diverse sectors from LV to EHV 525 Kv.

DIVIDENDS
No dividends will be distributed for the year ended 31st March 2025.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

M E Durkin
E C Durkin

Other changes in directors holding office are as follows:

B Murphy - appointed 13th May 2024

CHARITABLE DONATIONS AND EXPENDITURE
During the year the company made charitable contributions of £2,308.00. This comprised of £1,500.00 made to Football Sponsor, £390.00 to Children with Cancer, £310.00 to Cancer UK and £108.00 to Enthuse Donation.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
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.

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.

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2025


AUDITORS
Under section 487(2) of the Companies Act 2006, Sproull & Co., Chartered Accountants and Statutory Auditors, are deemed to be reappointed as auditors.

ON BEHALF OF THE BOARD:





B Murphy - Director


25th July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DURKIN AND SONS LIMITED


Opinion
We have audited the financial statements of Durkin and Sons Limited (the 'company') for the year ended 31st March 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 31st March 2025 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
DURKIN AND SONS 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 Statement of Directors' Responsibilities 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.

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:

- Through assessing our cumulative acquired knowledge and review of relevant sector information, we gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud.
- We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, Financial Reporting Standards and UK taxation legislation.
- We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates.
- We discussed among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud. Furthermore, we communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DURKIN AND SONS LIMITED


Based on the above, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. Our work included:

- Discussions with management and those charged with governance in relation to known or suspected instances of non-compliance with laws and regulations and fraud as well as those policies and procedures designed to detect such instances.
- Obtaining an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company's internal control.
- Evaluating the appropriateness of accounting policies used, evaluating the reasonableness and testing of significant accounting estimates and assessing whether the judgements made are indicative of a potential bias by management that represented a risk of material misstatement due to fraud.
- Testing of journal entries back to corroborating evidence.
- Reviewing the financial statement disclosures and agreeing to supporting documentation where relevant to assess compliance with relevant laws and regulations.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with the laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

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.




Michelle Wickwar (Senior Statutory Auditor)
for and on behalf of Sproull & Co.
Chartered Accountants
Statutory Auditors
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

28th July 2025

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31ST MARCH 2025

2025 2024
Notes £ £

TURNOVER 4 13,699,637 11,186,890

Cost of sales 10,845,210 9,165,107
GROSS PROFIT 2,854,427 2,021,783

Administrative expenses 2,428,880 2,227,377
425,547 (205,594 )

Other operating income 5 190,000 190,000
OPERATING PROFIT/(LOSS) 615,547 (15,594 )

Professional fees (EOT) 7 312,169 -
303,378 (15,594 )

Interest receivable and similar income 134,427 116,902
PROFIT BEFORE TAXATION 8 437,805 101,308

Tax on profit 9 77,329 30,007
PROFIT FOR THE FINANCIAL YEAR 360,476 71,301

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

BALANCE SHEET
31ST MARCH 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 10 936,811 833,604

CURRENT ASSETS
Debtors 11 3,539,876 4,185,488
Cash at bank and in hand 4,941,240 6,600,472
8,481,116 10,785,960
CREDITORS
Amounts falling due within one year 12 1,632,488 1,862,300
NET CURRENT ASSETS 6,848,628 8,923,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,785,439

9,757,264

PROVISIONS FOR LIABILITIES 15 189,070 121,371
NET ASSETS 7,596,369 9,635,893

CAPITAL AND RESERVES
Called up share capital 16 10,000 10,000
Retained earnings 7,586,369 9,625,893
SHAREHOLDERS' FUNDS 7,596,369 9,635,893

The financial statements were approved by the Board of Directors and authorised for issue on 25th July 2025 and were signed on its behalf by:





B Murphy - Director


DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2025

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1st April 2023 10,000 9,554,592 9,564,592

Changes in equity
Total comprehensive income - 71,301 71,301
Balance at 31st March 2024 10,000 9,625,893 9,635,893

Changes in equity
Distribution - (2,400,000 ) (2,400,000 )
Total comprehensive income - 360,476 360,476
Balance at 31st March 2025 10,000 7,586,369 7,596,369

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2025

2025 2024
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 928,347 226,353
Tax paid - 209,440
Net cash from operating activities 928,347 435,793

Cash flows from investing activities
Purchase of tangible fixed assets (406,053 ) (509,220 )
Sale of tangible fixed assets 95,218 29,000
Interest received 134,427 116,902
Net cash from investing activities (176,408 ) (363,318 )

Cash flows from financing activities
Amount withdrawn by directors (11,171 ) (12,312 )
Distribution (2,400,000 ) -
Net cash from financing activities (2,411,171 ) (12,312 )

(Decrease)/increase in cash and cash equivalents (1,659,232 ) 60,163
Cash and cash equivalents at beginning of
year

2

6,600,472

6,540,309

Cash and cash equivalents at end of year 2 4,941,240 6,600,472

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2025


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2025 2024
£ £
Profit before taxation 437,805 101,308
Depreciation charges 259,710 279,417
(Profit)/loss on disposal of fixed assets (52,082 ) 30,336
Interest received (134,427 ) (116,902 )
511,006 294,159
Decrease/(increase) in trade and other debtors 654,173 (425,010 )
(Decrease)/increase in trade and other creditors (236,832 ) 357,204
Cash generated from operations 928,347 226,353

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2025
31.3.25 1.4.24
£ £
Cash and cash equivalents 4,941,240 6,600,472
Year ended 31st March 2024
31.3.24 1.4.23
£ £
Cash and cash equivalents 6,600,472 6,540,309


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 6,600,472 (1,659,232 ) 4,941,240
6,600,472 (1,659,232 ) 4,941,240
Total 6,600,472 (1,659,232 ) 4,941,240

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025


1. STATUTORY INFORMATION

Durkin and Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

The total turnover of the company for the year has been derived from its principal activities wholly undertaken in the UK.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The useful economic lives and residual values of the assets are assessed annually and may vary depending on a number of factors such as technological innovations, maintenance and projected disposal values.

Financial instruments
Financial instruments are classified according to the substance of the financial instrument's contractual obligations, as financial assets, financial liabilities or equity instruments.

Financial instruments are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Construction contracts
Amounts recoverable on contracts, including work-in-progress, are shown within debtors, and are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Turnover and related costs are recorded as contract activity progresses. An appropriate proportion of the anticipated contract profit or loss is recognised as the contract activity progresses commensurate with performance and anticipated final outcome. Excess progress payments are included in creditors as payments received on account.

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

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised as an expense in the profit and loss account 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 company in independently administered funds.

Provision for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably required settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025


3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Construction contracts
Recognition of revenue and profit on long term contracts requires management judgement regarding the anticipated final outcome of individual contracts and the portion of works completed at the balance sheet date. Management undertakes detailed reviews on a monthly basis in order to exercise judgement over the outcome of each contract and the associated risks and opportunities.

Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The useful economic lives of the assets and residual values are assessed annually and may vary depending on a number of factors such as technological innovations, maintenance and projected disposal values.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

5. OTHER OPERATING INCOME
2025 2024
£ £
Rents received 190,000 190,000

6. EMPLOYEES AND DIRECTORS
2025 2024
£ £
Wages and salaries 2,816,999 2,509,858
Social security costs 326,506 312,175
Other pension costs 70,302 42,793
3,213,807 2,864,826

The average number of employees during the year was as follows:
2025 2024

Management 6 6
Administration 4 4
Production 38 35
48 45

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025


6. EMPLOYEES AND DIRECTORS - continued

2025 2024
£ £
Directors' remuneration 541,592 361,016
Directors' pension contributions to money purchase schemes 1,211 -

Information regarding the highest paid director is as follows:
2025 2024
£ £
Emoluments etc 193,750 181,083
Pension contributions to money purchase schemes 1,211 -

7. EXCEPTIONAL ITEMS

20252024
£ £
Professional fees (EOT)312,169-

The above professional fees were payable to set up Employee Ownership Trust (EOT) and transfer the company's ownership to the EOT.

8. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2025 2024
£ £
Hire of plant and machinery 530,443 711,055
Other operating leases 400,648 396,439
Depreciation - owned assets 259,710 279,417
(Profit)/loss on disposal of fixed assets (52,082 ) 30,336
Auditors' remuneration 18,000 10,610
Auditors' remuneration for non audit work 2,745 2,865

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£ £
Current tax:
UK corporation tax 9,630 -

Deferred tax 67,699 30,007
Tax on profit 77,329 30,007

UK corporation tax has been charged at 19% (2024 - 19%).

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025


9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025 2024
£ £
Profit before tax 437,805 101,308
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 19%)

109,451

19,249

Effects of:
Expenses not deductible for tax purposes 79,944 6,650
Capital allowances in excess of depreciation (16,350 ) (35,771 )
Utilisation of tax losses (147,401 ) -
Profit/(Loss) on disposal of fixed assets (13,021 ) 5,764
Deferred tax 67,699 30,007
Losses carried forward - 4,108
Marginal relief (2,993 ) -
Total tax charge 77,329 30,007

10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1st April 2024 2,084,474 40,785 720,817 2,846,076
Additions 267,850 - 138,203 406,053
Disposals (82,850 ) - (151,116 ) (233,966 )
At 31st March 2025 2,269,474 40,785 707,904 3,018,163
DEPRECIATION
At 1st April 2024 1,374,941 40,620 596,911 2,012,472
Charge for year 212,851 165 46,694 259,710
Eliminated on disposal (80,148 ) - (110,682 ) (190,830 )
At 31st March 2025 1,507,644 40,785 532,923 2,081,352
NET BOOK VALUE
At 31st March 2025 761,830 - 174,981 936,811
At 31st March 2024 709,533 165 123,906 833,604

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 993,363 2,138,056
Other debtors 11,750 77,626
Directors' current accounts 8,561 -
Prepayments and accrued income 2,526,202 1,969,806
3,539,876 4,185,488

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 928,904 918,612
Taxation 9,630 -
Social security and other taxes 120,183 111,269
VAT 204,870 271,667
Other creditors 84,667 44,403
Directors' current accounts 380 2,990
Accruals 283,854 513,359
1,632,488 1,862,300

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£ £
Within one year 97,500 97,500
Between one and five years 97,500 195,000
195,000 292,500

The operating lease commitments relate to the properties from which the business uses in its trade. These operating leases are subject to periodic rent reviews, though break clauses are available as these reviews fall due.

The operating lease commitments shown above are the total amounts payable up to each break clause.

14. FINANCIAL INSTRUMENTS

Categorisation of financial instruments
2025 2024
£ £
Financial assets that are debt instruments measured at amortised cost 5,946,353 8,816,154

Financial liabilities measured at amortised cost 1,297,425 1,476,374

Financial assets measured at amortised cost comprises cash, trade debtors and other debtors.

Financial liabilities measured at amortised cost comprises trade creditors, accrued expenses and other creditors.

DURKIN AND SONS LIMITED (REGISTERED NUMBER: 01729334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025


15. PROVISIONS FOR LIABILITIES
2025 2024
£ £
Deferred tax
Deferred tax 121,371 91,364
Deferred taxation movement 67,699 30,007
189,070 121,371

Deferred tax
£
Balance at 1st April 2024 121,371
Provided during year 67,699
Balance at 31st March 2025 189,070

16. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2025 2024
value: £ £
10,000 Ordinary shares £1 10,000 10,000

17. PENSION COMMITMENTS

The company operates a defined contribution scheme. During the year the company contributed £70,302 (2024: £42,793). The outstanding contributions at the reporting date is £9,384 (2024: £Nil).

18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2025 and 31st March 2024:

2025 2024
£ £
M E Durkin
Balance outstanding at start of year (2,610 ) (14,922 )
Amounts advanced 11,171 12,312
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,561 (2,610 )

The above balance was repaid in full to the company in April 2025.

19. ULTIMATE CONTROLLING PARTY

M E Durkin and E C Durkin had ultimate control of the company by virtue of their 100% ownership of the company's share capital until 12 June 2024. From 12 June 2024 Trident Trust Company (UK) Limited holds 100% ownership of the company's share capital.