Company registration number 01483035 (England and Wales)
DON CONSTRUCTION PRODUCTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DON CONSTRUCTION PRODUCTS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 10
DON CONSTRUCTION PRODUCTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Intangible assets
4
2,005
3,272
Property, plant and equipment
5
706,707
808,354
Investments
6
1
1
708,713
811,627
Current assets
Inventories
495,162
592,144
Trade and other receivables
7
348,820
451,782
Cash and cash equivalents
99,839
19,803
943,821
1,063,729
Current liabilities
8
(4,912,258)
(4,371,929)
Net current liabilities
(3,968,437)
(3,308,200)
Net liabilities
(3,259,724)
(2,496,573)
Equity
Called up share capital
10
36,750
36,750
Retained earnings
(3,296,474)
(2,533,323)
Total equity
(3,259,724)
(2,496,573)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 July 2025 and are signed on its behalf by:
Mr T  Ghandour
Director
Company registration number 01483035 (England and Wales)
DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Don Construction Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hawthorn House, Moonhall Business Park, Helions Bumpstead Road, Haverhill, Suffolk, CB9 7AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have prepared forecasts and obtained confirmation from the ultimate parent company that it is their intention to continue to support the company for the foreseeable future, and in any event, for at least 12 months following the date of the signing of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
3 years
Patents
4 years
Trademarks
10% straight line basis
1.7
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
over the term of the lease
Plant and equipment
25% straight line basis
Fixtures and fittings
25-50% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.8
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

1.10
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

 

Inventories held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

 

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 deducting all of its liabilities.

1.13
Equity instruments

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

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Revenue

An analysis of the company's revenue is as follows:

2024
2023
£
£
Revenue analysed by geographical market
United Kingdom
2,180,034
2,286,663
Rest of Europe
32,597
49,346
Rest of the world
165,784
226,834
2,378,415
2,562,843
2024
2023
£
£
Other revenue
Interest income
-
1
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
21
23
DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Intangible fixed assets
Goodwill
Other
Trademarks
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
31,923
19,749
4,000
55,672
Amortisation and impairment
At 1 January 2024
31,923
18,877
1,600
52,400
Amortisation charged for the year
-
0
867
400
1,267
At 31 December 2024
31,923
19,744
2,000
53,667
Carrying amount
At 31 December 2024
-
0
5
2,000
2,005
At 31 December 2023
-
0
872
2,400
3,272
5
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
168,040
1,475,518
1,643,558
Additions
24,709
15,017
39,726
Disposals
(17,042)
-
0
(17,042)
Transfers
-
(17,039)
(17,039)
At 31 December 2024
175,707
1,473,496
1,649,203
Depreciation and impairment
At 1 January 2024
145,498
689,707
835,205
Depreciation charged in the year
4,488
119,845
124,333
Eliminated in respect of disposals
(17,042)
-
0
(17,042)
At 31 December 2024
132,944
809,552
942,496
Carrying amount
At 31 December 2024
42,763
663,944
706,707
At 31 December 2023
22,542
785,812
808,354

 

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Fixed asset investments
(Continued)
- 8 -

The company has not designated any financial assets that are not classified as financial assets at fair value through profit or loss.

7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
265,185
388,463
Amounts owed by group undertakings
6,917
2,722
Other receivables
76,718
60,597
348,820
451,782

Trade receivables disclosed above are measured at amortised cost.

8
Current liabilities
2024
2023
£
£
Bank loans and overdrafts
-
0
238,268
Trade payables
189,597
193,703
Amounts owed to group undertakings
4,616,641
3,777,489
Taxation and social security
59,358
98,302
Other payables
46,662
64,167
4,912,258
4,371,929

 

9
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
20,526
31,345

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Ordinary Shares
of £1 each
36,750
36,750
36,750
36,750
DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Colin Hamilton
Statutory Auditor:
Ward Williams Limited
Date of audit report:
31 July 2025
12
Financial commitments, guarantees and contingent liabilities

Don Constructions Products Limited and SMTM Holding Limited have an intercompany cross guarantee and debenture dated 19 July 2018 for a fixed charge over all assets of the company. Don Construction Products Limited, SMTM Holdings Limited and Sports Coatings Limited have an intercompany cross guarantee and debenture dated 19 December 2007 for a fixed charge over all assets over the company.

13
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
216,982
273,481
14
Related party transactions
Remuneration of key management personnel
2024
2023
£
£
Aggregate compensation
56,003
298,954
Other information
DON CONSTRUCTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14
Related party transactions
(Continued)
- 10 -

The company has taken advantage of the exemption in FRS102 section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the parent company. The consolidated financial statements are available from Hawthorn House, Helions Bumpstead Road, Haverhill, Suffolk, CB9 7AA.

15
Parent company

The ultimate controlling party is Don Construction Holdings Limited, a company registered in England and Wales.

 

The consolidated financial statements of Don Construction Holdings Limited can be obtained from Hawthorn House, Helions Bumpstead Road, Haverhill, Suffolk, CB9 7AA.

 

2024-12-312024-01-01falsefalsefalse31 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr T GhandourMr J F IgoeMr M AlshanteerMr Y Al-Ayoub014830352024-01-012024-12-31014830352024-12-31014830352023-12-3101483035core:NetGoodwill2024-12-3101483035core:IntangibleAssetsOtherThanGoodwill2024-12-3101483035core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-12-3101483035core:NetGoodwill2023-12-3101483035core:IntangibleAssetsOtherThanGoodwill2023-12-3101483035core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-12-3101483035core:LandBuildings2024-12-3101483035core:OtherPropertyPlantEquipment2024-12-3101483035core:LandBuildings2023-12-3101483035core:OtherPropertyPlantEquipment2023-12-3101483035core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3101483035core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3101483035core:ShareCapital2024-12-3101483035core:ShareCapital2023-12-3101483035core:RetainedEarningsAccumulatedLosses2024-12-3101483035core:RetainedEarningsAccumulatedLosses2023-12-3101483035core:ShareCapitalOrdinaryShareClass12024-12-3101483035core:ShareCapitalOrdinaryShareClass12023-12-3101483035bus:Director12024-01-012024-12-3101483035core:Goodwill2024-01-012024-12-3101483035core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3101483035core:ComputerSoftware2024-01-012024-12-3101483035core:PatentsTrademarksLicencesConcessionsSimilar2024-01-012024-12-3101483035core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-01-012024-12-3101483035core:LandBuildingscore:LongLeaseholdAssets2024-01-012024-12-3101483035core:PlantMachinery2024-01-012024-12-3101483035core:FurnitureFittings2024-01-012024-12-31014830352023-01-012023-12-3101483035core:NetGoodwill2023-12-3101483035core:IntangibleAssetsOtherThanGoodwill2023-12-3101483035core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-12-31014830352023-12-3101483035core:NetGoodwill2024-01-012024-12-3101483035core:LandBuildings2023-12-3101483035core:OtherPropertyPlantEquipment2023-12-3101483035core:LandBuildings2024-01-012024-12-3101483035core:OtherPropertyPlantEquipment2024-01-012024-12-3101483035core:CurrentFinancialInstruments2024-12-3101483035core:CurrentFinancialInstruments2023-12-3101483035core:WithinOneYear2024-12-3101483035core:WithinOneYear2023-12-3101483035bus:OrdinaryShareClass12024-01-012024-12-3101483035bus:OrdinaryShareClass12024-12-3101483035bus:OrdinaryShareClass12023-12-3101483035bus:PrivateLimitedCompanyLtd2024-01-012024-12-3101483035bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3101483035bus:FRS1022024-01-012024-12-3101483035bus:Audited2024-01-012024-12-3101483035bus:Director22024-01-012024-12-3101483035bus:Director32024-01-012024-12-3101483035bus:Director42024-01-012024-12-3101483035bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP