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Registered number: 00771790
Edburton Contractors Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Strategic Report 2—3
Directors' Report 4—5
Independent Auditor's Report 6—8
Profit and Loss Account 9
Balance Sheet 10
Statement of Changes in Equity 11
Statement of Cash Flows 12
Notes to the Statement of Cash Flows 13
Notes to the Financial Statements 14—23
Page 1
Company Information
Directors Mr Hugo Baldwin
Mr Martin Baldwin
Mrs Veronica Brooks
Mr Jonathan Storey
Mrs Dora Baldwin
Secretary Mrs Susan Westwood
Company Number 00771790
Registered Office First Floor, Canada House
20/20 Business Park, St Leonards Road
Maidstone
Kent
ME16 0LS
Auditors Xeinadin Audit Ltd
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD
Bankers National Westminster Bank Plc
PO Box 2415
High Street
West Sussex
BN5 9HQ
Page 1
Page 2
Strategic Report
The directors present their strategic report for the year ended 31 December 2024.
Review of the Business
The directors are satisfied with the Company’s performance during the year ended 31 December 2024. Turnover increased substantially to £15,494,322, up from £10,771,991 in 2023 — a growth of more than 43%. This reflects the strength of the Company’s relationships with both public and private sector clients and a healthy pipeline of varied infrastructure works.
During the year, inflationary pressures remained a key operational challenge. Cost increases affected wages, fuel, utilities, and construction materials, placing downward pressure on margins. These conditions began to ease in Q4. In response, the Company continued to pursue efficiencies through investment in modern plant, transport and machinery, and streamlining operational procedures. This has helped mitigate inflation-driven margin erosion, particularly on long-term framework contracts where costs cannot always be fully passed on to clients.
The Company’s gross margin rose to £2,607,104 (2023: £2,274,292) and profit before tax increased to £394,200 (2023: £266,017). The directors consider these results a positive outcome in the context of the macroeconomic climate and demonstrate the Company’s robust operational and financial management.
Investment in people remains a core tenet of the Company’s long-term strategy. Staff development, training, and recruitment have been prioritised to ensure the business retains a skilled, motivated workforce capable of delivering complex civil engineering projects efficiently and safely.
The Company has secured several significant long-term framework contracts during the year, most notably securing top ranking on West Sussex County Council’s Lot 6 framework, a five-year civil engineering programme spanning the county. This runs in parallel with the existing Brighton & Hove City Council framework, which carries an infrastructure budget of £54 million over a potential eight-year term.
Private sector work also continues to increase in both scale and client diversity. Strategic partnerships with organisations such as Laing O'Rourke (Sussex Hospital redevelopment), Land Securities (Preston Barracks scheme), and other major developers underscore the Company’s strong presence in the commercial and infrastructure space. Additionally, work with Crawley Borough Council continues to grow, reflecting Edburton’s reliability and delivery on public service contracts.
The Company’s order book remains extensive and well-stocked, both in volume and value. The directors are confident in the Company’s financial standing and are committed to remaining agile and responsive to the cyclical nature of the UK construction market. 
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Principal Risks and Uncertainties
Macro economic conditions
The Company operates in an environment shaped by broader economic trends. Demand for civil engineering services, both public and private,  is closely tied to economic confidence, local authority funding, and government capital expenditure priorities.
While public sector clients still represent a majority share of turnover, private sector activity is increasing year-on-year. This diversification reduces overreliance on any single client base and is central to Edburton’s strategic risk management approach.
The Company continues to monitor geopolitical instability, resource scarcity, and other global factors that influence materials and fuel pricing. Our response has been to remain operationally flexible, with a diversified service offering and strong supplier relationships.
Competition
The civil engineering sector remains highly competitive. Edburton’s response is to differentiate through high service standards, directly employed labour, rigorous training, and a reputation for value-for-money delivery. These principles continue to underpin customer loyalty and repeat business.
The Company’s ongoing investment in recycling and sustainable materials processing is another strategic advantage, aligning with growing environmental regulations and market preferences. We aim to expand this offering further where it is commercially sound and scientifically robust.
Regulatory Landscape
The business operates within a framework of increasingly stringent regulation, particularly in relation to health and safety and environmental compliance. Edburton maintains a proactive stance, with regular policy updates, staff training, and operational audits to ensure continued adherence.
Health and Safety
Health and safety remains a non-negotiable priority. The Company continues to invest in training, risk assessment, and preventative measures. Year-on-year reductions in incident rates reflect this focus. All incidents are logged, reviewed and, where appropriate, translated into operational changes to reduce future risk. The culture of vigilance is supported at all levels of the organisation.
FINANCIAL KEY PERFORMANCE INDICATORS
The directors consider gross margin and profit before tax to be the Company’s primary financial KPIs:
• Gross margin increased from £2,274,292 in 2023 to £2,607,104 in 2024.
• Profit before tax rose from £266,017 to £394,200, a 48% increase.
These figures reflect the Company’s ability to deliver projects profitably in a challenging cost environment, while continuing to invest in operational capabilities and staff development.
Conclusion
In summary, 2024 marked a year of significant growth and strategic progression for Edburton Contractors Limited. The directors remain confident in the Company’s direction, its ability to adapt to changing market conditions, and its continued commitment to quality, sustainability and client satisfaction.
On behalf of the board
Mr Hugo Baldwin
Director
15 August 2025
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Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Future Developments
Further improvements are planned to the Company's new premises to further increase efficiency.
Dividends
No dividends will be distributed for the year ended 31 December 2024. 
Political Donations and Expenditure
Political donations in the year amounts to £nil (2023: £nil).
Charitable Donations
Charitable donations in the year amounts to £4,199 (2023: £12,033).
Directors
The directors who held office during the 1 January 2023 were as follows:
Mr Hugo Baldwin
Mr Martin Baldwin
Mrs Veronica Brooks
Mr Jonathan Storey
Mrs Dora Baldwin
Statement of Directors' Responsibilities
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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, Xeinadin Audit Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr Hugo Baldwin
Director
15 August 2025
Page 5
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Independent Auditor's Report
Opinion
We have audited the financial statements of Edburton Contractors Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 31 December 2024 and of its profit for the year then ended; 
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 
  • have been prepared in accordance with the requirements of the Companies Act 2006. 
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. 
Other Information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. 
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and 
  • the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. 
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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 five, 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. 
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives in performing the audit are to identify and assess the risk of material misstatement in the financial statements due to fraud or error and to obtain sufficient audit evidence to support this. We also evaluate and respond to the risk of material misstatements.
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:
  • Assessing the risks of material misstatements in respect of fraud by enquiring of management as well as reviewing the service organisations used. These were corroborated by reviewing Board Minutes, correspondence with HMRC and Companies House as well as with Service Organisations.
  • Gaining a sufficient understanding of the internal control environment, including systems in place for the detection and prevention of fraud.
Audit procedures performed by the engagement team included:
  • Obtaining an understanding of the legal and regulatory frameworks that are applicable to the entity and how the entity is complying with that framework. 
  • Assessing the risks of material misstatements in respect of fraud by enquiring of management as well as reviewing the service organisations used. These were corroborated by reviewing Board Minutes, correspondence with HMRC and Companies House as well as with Service Organisations. 
  • Gaining a sufficient understanding of the internal control environment, including systems in place for the detection and prevention of fraud.
  • Discussing with management as to any known or suspected instances of non-compliance with laws and regulations. 
  • Understanding the company's current activities, assets, liabilities, as well as future plans.
  • Identifying and testing manual journal entries. 
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. 
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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. 
Nicholas Hume FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd , Statutory Auditor
15 August 2025
Xeinadin Audit Ltd
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 15,494,322 10,771,191
Cost of sales (12,887,218 ) (8,496,899 )
GROSS PROFIT 2,607,104 2,274,292
Administrative expenses (2,206,030 ) (2,018,901 )
Other operating income 72,850 85,010
OPERATING PROFIT 3 473,924 340,401
Other interest receivable and similar income 8 98 -
Interest payable and similar charges 9 (79,822 ) (74,384 )
PROFIT BEFORE TAXATION 394,200 266,017
Tax on Profit 10 (54,098 ) (15,985 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 340,102 250,032
The notes on pages 13 to 23 form part of these financial statements.
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 11 3,244,360 3,021,936
Investment Properties 12 1,503,094 1,503,094
4,747,454 4,525,030
CURRENT ASSETS
Stocks 13 260,100 563,641
Debtors 14 3,474,567 2,144,024
Cash at bank and in hand 715,086 200
4,449,753 2,707,865
Creditors: Amounts Falling Due Within One Year 15 (3,003,482 ) (1,300,367 )
NET CURRENT ASSETS (LIABILITIES) 1,446,271 1,407,498
TOTAL ASSETS LESS CURRENT LIABILITIES 6,193,725 5,932,528
Creditors: Amounts Falling Due After More Than One Year 16 (391,911 ) (523,661 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (793,188 ) (740,343 )
NET ASSETS 5,008,626 4,668,524
CAPITAL AND RESERVES
Called up share capital 20 28,750 28,750
Revaluation reserve 23 1,855,564 1,858,564
Capital redemption reserve 21,250 21,250
Profit and Loss Account 3,103,062 2,759,960
SHAREHOLDERS' FUNDS 5,008,626 4,668,524
On behalf of the board
Mr Hugo Baldwin
Director
15 August 2025
The notes on pages 13 to 23 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Revaluation reserve Capital Redemption Profit and Loss Account Total
£ £ £ £ £
As at 1 January 2023 as previously stated 28,750 1,861,564 21,250 2,614,628 4,526,192
Prior year adjustment - - - (107,700 ) (107,700 )
As at 1 January 2023 as restated 28,750 1,861,564 21,250 2,506,928 4,418,492
2,506,928
Profit for the year and total comprehensive income - - - 250,032 250,032
Transfer from revaluation reserve - - - 3,000 3,000
Transfer to/from Profit & Loss Account - (3,000 ) - - (3,000)
As at 31 December 2023 and 1 January 2024 28,750 1,858,564 21,250 2,759,960 4,668,524
Profit for the year and total comprehensive income - - - 340,102 340,102
Transfer from revaluation reserve - - - 3,000 3,000
Transfer to/from Profit & Loss Account - (3,000 ) - - (3,000)
As at 31 December 2024 28,750 1,855,564 21,250 3,103,062 5,008,626
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 1,094,413 300,138
Interest paid (79,822 ) (74,384 )
Tax refunded 269,515 -
Net cash generated from operating activities 1,284,106 225,754
Cash flows from investing activities
Purchase of tangible assets (490,618 ) (276,917 )
Proceeds from disposal of tangible assets 11,300 102,372
Interest received 98 -
Net cash used in investing activities (479,220 ) (174,545 )
Cash flows from financing activities
Repayment of bank borrowings (80,000 ) (80,000 )
Repayment of other loans (53,832) -
Repayment of finance leases (275,677 ) (350,379 )
Amount introduced by directors 10,393 6,196
Amount withdrawn by directors - (16,502)
New HP agreements in year 320,898 267,727
Net cash used in financing activities (78,218 ) (172,958 )
Increase/(decrease) in cash and cash equivalents 726,668 (121,749 )
Cash and cash equivalents at beginning of year 2 (11,582 ) 110,167
Cash and cash equivalents at end of year 2 715,086 (11,582 )
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 340,102 250,032
Adjustments for:
Tax on profit 54,098 15,985
Interest expense 79,822 74,384
Interest income (98 ) -
Depreciation of tangible assets 246,971 339,974
Loss/(profit) on disposal of tangible assets 9,923 (78,488)
Movements in working capital:
Decrease in stocks 303,541 191,753
Increase in trade and other debtors (1,578,483 ) (343,292 )
Increase/(decrease) in trade and other creditors 1,638,537 (150,210 )
Net cash generated from operations 1,094,413 300,138
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 715,086 200
Overdraft facilities repayable on demand - (11,782 )
Cash and cash equivalents as stated in the Statement of Cash Flows 715,086 (11,582)
3. Analysis of changes in net debt
As at 1 January 2024 Cash flows As at 31 December 2024
£ £ £
Cash at bank and in hand 200 714,886 715,086
Overdraft facilities repayable on demand (11,782) 11,782 -
Cash and cash equivalents (11,582 ) 726,668 715,086
Finance leases (493,872) (45,221) (539,093)
Debts falling due within one year (80,000 ) (12,000) (92,000 )
Debts falling due after more than one year (281,625) 145,832 (135,793)
(867,079) 815,279 (51,800)
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Notes to the Financial Statements
1. General Information
Edburton Contractors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00771790 . The registered office is First Floor, Canada House , 20/20 Business Park, St Leonards Road, Maidstone , Kent, ME16 0LS.
The company's principal activity continues to be civil engineering in the South of England, as it has been for over 50 years.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and 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 as modified by the revaluation of certain assets.
2.2. Significant judgements and estimations
In the process of applying its accounting policies, the Company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented.
Not all of these accounting policies require management to make difficult, subjective or complex judgements or estimates. On an ongoing basis, the Company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.
The following paragraphs detail the estimates and judgements the Company believes to have the most significant impact on the annual results under FRS 102:
Revenue recognition
The Company is required to estimate at what stage of a contract it is reasonable to recognise revenue and the extent to which profit should be attributed to such revenue.
Work in progress
The Company is required to judge when there is sufficient objective evidence to require the impairment of individual work in progress balances. It does this by comparing the carrying value with the expected outcome per the original tender and any agreed variations to the original tender's scope.
Trade debtors
The Company is required to judge when there is sufficient objective evidence to require the impairment of individual trade receivables. It does this on the basis of the age of relevant receivables, external evidence of the credit status of the debtor entity and the nature of any disputed amounts.
Tangible fixed assets (TFA)
The estimated useful economic lives of TFA are based on management's judgement and experience. When management identifies that actual useful economic lives differ materially from the estimates used to calculate depreciation, that charge is adjusted prospectively.
The Company is required to evaluate the carrying values of TFA for impairment whenever circumstances indicate, in management's judgement, that the carrying value of such assets may not be recoverable.
Freehold land and buildings are valued at their market value. A formal valuation was carried out on 3 June 2022. Subsequent formal valuations will be carried out, if the directors consider that a material change has occurred.
Investment Properties
Investment properties are shown in the accounts at their market value. A formal valuation was carried out on 1 July 2022. Subsequent formal valuations will be carried out, if the directors consider a material change has occurred.
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2.3. Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
  • the amount of revenue can be measured reliably;
  • It is probable that the 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.
Revenue recognised in excess of payments on account is included in the balance sheet as amounts recoverable on contracts. Any excess of payments on account over revenue recognised is included within creditors.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Freehold 1% - 2% Straight line per annum
Plant & Machinery 15% Straight line per annum
Motor Vehicles 15% Straight line per annum
Computer Equipment 24% Straight line per annum
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.
Freehold properties are valued at their current market value. A formal valuation was carried out on the 3 June 2022. The directors will review the valuation on an annual basis and subsequent valuations will be carried out, where the directors consider there has been a material change in the market value.
2.5. Investment Properties
Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in other comprehensive income.
2.6. Leasing and Hire Purchase Contracts
Rentals payable under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Assets obtained under hire purchase contracts or finance lease are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to the Income Statement over the relevant period. the capital element of the future payments is treated as a liability.
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company.
Rights to use assets and corresponding obligations to lessors under finance leases are recognised in the balance sheet as assets and liabilities at the lower of fair value of the assets and the present value of the minimum lease payments, determined at the inception of the lease.
...CONTINUED
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2.6. Leasing and Hire Purchase Contracts - continued
Lease payments are apportioned between finance charges and reduction of outstanding lease liabilities using the effective interest method, so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charge are recognised in the Income Statement.
2.7. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value, offset by amounts transferred to cost of sales and foreseeable losses less amounts recoverable on contracts, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour, attributable overheads and the relevant overhead absorption.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
2.8. Financial Instruments
Debtors
Short term debtors are measured at transaction price, less any impairment.
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. 
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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.
2.9. Interest Receivable
Interest income is recognised in profit or loss using the effective interest method.
2.10. Interest Payable
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.
Interest income
Interest income is recognised in profit or loss using the effective interest method.
Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
The accounts are presented in the functional currency of GBP £ and rounding is carried out to the nearest £1.
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2.11. Taxation
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
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position 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.
2.12. Pensions
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.
3. Operating Profit
The operating profit is stated after charging/(crediting):
2024 2023
£ £
Operating lease rentals 794,796 578,343
Depreciation of tangible fixed assets - owned 87,201 151,586
Depreciation of tangible fixed assets - finance leases and hire purchase contracts 159,770 188,388
Loss/(profit) on disposal of tangible fixed assets 9,923 (78,488 )
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 21,000 21,000
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5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 3,191,470 3,182,256
Social security costs 357,836 352,303
Other pension costs 88,689 89,108
3,637,995 3,623,667
6. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Contracting 49 51
Administration 15 14
Directors 5 5
69 70
7. Directors' remuneration
2024 2023
£ £
Emoluments 406,023 366,240
Company contributions to money purchase pension schemes 2,642 2,642
408,665 368,882
Information regarding the highest paid director was as follows:
2024 2023
£ £
Emoluments 137,440 109,343
Company contributions to money purchase pension schemes 1,321 1,321
138,761 110,664
8. Interest Receivable and Similar Income
2024 2023
£ £
Other interest receivable 98 -
9. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 14,765 16,252
Other loan interest 41,893 36,791
Finance charges payable under finance leases and hire purchase contracts 23,164 21,341
79,822 74,384
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10. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 24.0% 1,253 248
Deferred Tax
Deferred taxation 52,845 15,737
Total tax charge for the period 54,098 15,985
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 394,200 266,017
Tax on profit at 25% (UK standard rate) 98,550 63,844
Expenses not deductible for tax purposes 18,689 17,487
Tax losses utilised - (68,359 )
Capital allowances (65,699 ) (12,724 )
Research and Development tax credit (50,287 ) -
Deferred tax from unrecognised timing difference from a prior period 52,845 15,737
Total tax charge for the period 54,098 15,985
11. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 2,100,000 3,554,553 1,445,898 125,166 7,225,617
Additions - 192,938 292,943 4,737 490,618
Disposals - (575,363 ) (203,306 ) - (778,669 )
As at 31 December 2024 2,100,000 3,172,128 1,535,535 129,903 6,937,566
Depreciation
As at 1 January 2024 12,441 3,105,910 991,907 93,423 4,203,681
Provided during the period 6,220 133,004 97,283 10,464 246,971
Disposals - (575,363 ) (182,083 ) - (757,446 )
As at 31 December 2024 18,661 2,663,551 907,107 103,887 3,693,206
Net Book Value
As at 31 December 2024 2,081,339 508,577 628,428 26,016 3,244,360
As at 1 January 2024 2,087,559 448,643 453,991 31,743 3,021,936
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 418,151 366,652
Motor Vehicles 454,948 370,141
873,099 736,793
Cost or valuation at 31st December 2024 is represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
At cost 1,200,381 3,172,128 1,535,535 129,903 6,037,947
At valuation 899,619 - - - 899,619
2,100,000 3,172,128 1,535,535 129,903 6,937,566
Freehold land and buildings were valued on an open market basis on 3 June 2022 by Flude Property Consultants.
12. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 1,503,094
13. Stocks
2024 2023
£ £
Stock 79,100 79,100
Work in progress 181,000 484,541
260,100 563,641
14. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,599,792 1,035,123
Prepayments and accrued income 1,500,149 684,484
Corporation tax recoverable assets 32,198 269,832
Directors' loan accounts - 10,306
3,132,139 1,999,745
Due after more than one year
Trade debtors 342,428 144,279
3,474,567 2,144,024
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15. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 282,975 251,836
Trade creditors 1,190,016 498,074
Bank loans and overdrafts 80,000 91,782
Other loans 12,000 -
Corporation tax 33,382 248
Other taxes and social security 862,696 224,805
Other creditors 183,320 159,098
Accruals and deferred income 359,006 74,524
Directors' loan accounts 87 -
3,003,482 1,300,367
Other creditors includes other related party balances of £6,428 (2023: £6,126).
16. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 256,118 242,036
Bank loans 40,000 120,000
Other loans 95,793 161,625
391,911 523,661
The following secured debts are included within creditors:
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 539,093 493,872
Bank loans and overdrafts 120,000 211,782
Bank loans and bank overdrafts are secured over the assets of the Company.
Obligations under finance lease and hire purchase contracts are secured over the assets leased.
17. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 80,000 80,000
Other loans 12,000 -
92,000 80,000
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2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 40,000 120,000
Other loans 95,793 161,625
135,793 281,625
18. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 282,975 251,836
Later than one year and not later than five years 256,118 242,036
539,093 493,872
539,093 493,872
19. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2024 740,343 740,343
Deferred taxation 52,845 52,845
Balance at 31 December 2024 793,188 793,188
20. Share Capital
2024 2023
Allotted, called up and fully paid £ £
28,750 Ordinary Shares of £ 1.00 each 28,750 28,750
21. Pension Commitments
The company operates 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 £88,689 (2023 - £89,108). Contributions of £2,667 (2023 - £2,241) were payable to the fund at the balance sheet date.
22. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Martin Baldwin 10,306 - (10,393 ) - (87 )
The above loan is secured and repayable on demand. The HMRC official rate of interest is charged on the outstanding balance.
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23. Reserves
Revaluation reserve
The revaluation reserve represents gains and losses on the company's fixed assets that have been revalued.
Capital redemption reserve
The capital redemption reserve represents purchases of the company's own shares.
Profit & loss account
The profit and loss account includes all current and prior period retained profits and losses.
24. Related Party Disclosures
Key management personnel (including directors) received compensation of £408,664 (2023: £368,881)
Key management comprises solely the directors of the company.
As at the year end loans due to the directors amounted to £272,035 (2023: £307,068).
During the year payments were made to directors of £54,600 (2023: £47,600) in respect of vehicle hire costs.
408,664 368,881
Entities over which the entity has control, joint control or significant influence
During the year rent and other costs amounting to £Nil (2023: £12,000) was invoiced from an entity, which the company has significant influence. At the year end the amounts due to the entity amounted to £Nil (2023: £2,881). The amounts due from the company as at 31st December 2024 were interest free and repayable on demand.
During the year the company invoiced £14,302 (2023: £11,658) to an entity which the company has significant influence. At the year end the amounts owed by the entity amounted to £Nil (2023: £Nil). The amounts due to the company as at 31st December 2024 were interest free and repayable on demand.
25. Controlling Parties
The company's ultimate controlling party is M G Baldwin by virtue of his interest in the share capital of the company.
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