Company registration number 00099243 (England and Wales)
EMANUEL WHITTAKER LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
EMANUEL WHITTAKER LIMITED
COMPANY INFORMATION
Directors
Mr J D Gallagher
Mr C Newton
Secretary
Ms A Whittaker
Company number
00099243
Registered office
400 Rochdale Road
Oldham
Lancashire
United Kingdom
OL1 2LW
Auditor
Xeinadin Audit Limited
100 Barbirolli Square
Manchester
Greater Manchester
United Kingdom
M2 3BD
EMANUEL WHITTAKER LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 19
EMANUEL WHITTAKER LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -

The directors present the strategic report for the year ended 30 November 2024.

Review of the business

In June 2024 the holding company was sold by owners Clive Newton and John Gallagher to Emanuel Whittaker EOT Trustee Limited.

 

The principal activity of the company during the year remained the elemental upgrading of social housing stock. Elements included were new kitchens, bathrooms, roofs, windows & doors, rewires and central heating systems. Clients continue to spend on fire precaution works. Social Housing customers were primarily within a 40 mile radius of head office. Typically there were between 15 and 20 sites running at any one time.

 

Several clients continue to spend on fire precaution work.

Principal risks and uncertainties

Financial Risk

All of the group's major clients are Housing Associations or Local Authorities. All make stage payments monthly and all are deemed to be at negligible risk of defaulting.

 

Credit Risks

There have been no bad debts and credit checks are not undertaken.

A credit insurance policy is not deemed necessary.

 

Liquidity Risk

Cash flow is monitored to allow spare cash to be invested on the money market. Sufficient funds are always available for operational requirements.

 

Non-financial Risks

Non-financial risks are monitored constantly by the senior management team. The principal risks are:

Clients' cyclical spending reducing on certain elements as they meet the required standard. The company constantly seeks to increase its customer base and to identify clients at differing points on their long term spending profile.

 

Increased wage demands and subcontract tender prices. The new build sector is very active and that creates pressure on our refurbishment sector as both labour and subcontractors are transferable between the two sectors.

 

Increased efficiency and smarter buying are employed to offset the upward pressure of costs and to minimise increases in tender prices.

 

EMANUEL WHITTAKER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -

Policy On Payment To Supplier And Subcontractors

All suppliers and subcontractors are paid within 30 days of the end of the month in which the invoice was raised. Suppliers and subcontractors are offered even earlier payments in return for discounts.

 

Our People

The company employs 113 people and they are without doubt the key to our success. The company has a very low level of staff turnover. Site teams which include customer care professionals as well as technical managers are critical to client relationships. Often these teams move from one project to the next with the same client.

 

The company involves its employees in every aspect of operations and keeps them informed on issues affecting them and affecting the company. We continue to invest in apprenticeships and to develop the talent within the company.

 

Policies

The company has many policies covering all aspects of the business, including:

Anti-slavery and human trafficking policy

Blogging Policy

Bribery Policy

Corporate Social Responsibility Policy, and

Data Protection Policy

Disabled Employees

Applications for employment by disabled persons are always fully considered. In the event of employees becoming disabled every effort is made to ensure that their employment with the company continues. It is the policy of the company that the training, career development and promotion of disabled persons should be identical to that of other employees.

Key performance indicators

                2024        2023

                 £m         £m

 

Turnover             £21.3     £26.9

Gross profit             2.9        4.0

Gross profit margin        13.7%        14.8%

Other performance indicators

                2024        2023

        

Average number of employees    113        116

Cash at bank and equivalents    £273,306    £3,048,385

Debtors days            8 days        7 days

Creditors days            33 days        38 days

 

On behalf of the board

Mr C Newton
Director
28 August 2025
EMANUEL WHITTAKER LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -

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

Principal activities

The principal activity of the company continued to be that of elemental upgrading of social housing stock.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £1,658,500. The directors do not recommend payment of a final dividend. Prior year dividends were paid of £600,000.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J D Gallagher
Mr C Newton
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Auditor

The auditor, Xeinadin Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual 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 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:

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.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the review of the business and key risks to the business.

EMANUEL WHITTAKER LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr C Newton
Director
28 August 2025
EMANUEL WHITTAKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EMANUEL WHITTAKER LIMITED
- 5 -
Opinion

We have audited the financial statements of Emanuel Whittaker Limited (the 'company') for the year ended 30 November 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

EMANUEL WHITTAKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EMANUEL WHITTAKER LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

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

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations we have considered the following:

 

 

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud is the timing of recognition of income and going concern. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

EMANUEL WHITTAKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EMANUEL WHITTAKER LIMITED (CONTINUED)
- 7 -

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, environmental laws, employment law, health and safety, pensions legislation and tax legislation.

 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

 

Audit response to risks identified

Our procedures to respond to risks identified included the following:

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

 

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 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 an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Butt FCCA ACCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
100 Barbirolli Square
Manchester
Greater Manchester
M2 3BD
United Kingdom
28 August 2025
EMANUEL WHITTAKER LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
21,290,780
26,880,367
Cost of sales
(18,423,952)
(22,896,107)
Gross profit
2,866,828
3,984,260
Administrative expenses
(2,348,972)
(2,584,307)
Operating profit
4
517,856
1,399,953
Interest receivable and similar income
7
47,346
24,464
Profit before taxation
565,202
1,424,417
Tax on profit
8
(154,092)
(326,500)
Profit for the financial year
411,110
1,097,917

The profit and loss account has been prepared on the basis that all operations are continuing operations.

EMANUEL WHITTAKER LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
216,947
278,982
Current assets
Debtors
11
4,888,039
4,465,772
Cash at bank and in hand
273,306
3,048,385
5,161,345
7,514,157
Creditors: amounts falling due within one year
12
(2,741,619)
(3,894,119)
Net current assets
2,419,726
3,620,038
Total assets less current liabilities
2,636,673
3,899,020
Provisions for liabilities
Deferred tax liability
13
45,588
60,545
(45,588)
(60,545)
Net assets
2,591,085
3,838,475
Capital and reserves
Called up share capital
14
412,500
412,500
Capital redemption reserve
337,500
337,500
Profit and loss reserves
1,841,085
3,088,475
Total equity
2,591,085
3,838,475

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr C Newton
Director
Company registration number 00099243 (England and Wales)
EMANUEL WHITTAKER LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 December 2022
412,500
337,500
2,590,558
3,340,558
Year ended 30 November 2023:
Profit and total comprehensive income
-
-
1,097,917
1,097,917
Dividends
9
-
-
(600,000)
(600,000)
Balance at 30 November 2023
412,500
337,500
3,088,475
3,838,475
Year ended 30 November 2024:
Profit and total comprehensive income
-
-
411,110
411,110
Dividends
9
-
-
(1,658,500)
(1,658,500)
Balance at 30 November 2024
412,500
337,500
1,841,085
2,591,085
EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 11 -
1
Accounting policies
Company information

Emanuel Whittaker Limited is a private company, limited by shares, incorporated in England and Wales, registration number 00099243. The registered office and principle place of trading is 400 Rochdale Road, Oldham, Lancashire, United Kingdom, OL1 2LW.

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.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Emanuel Whittaker Holdings Limited. These consolidated financial statements are available from its registered office, 400 Rochdale Road, Oldham, Lancashire, United Kingdom, OL1 2LW.

1.2
Going concern

Atruet 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.3
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Specifically, turnover from the contracts is recognised when job valuation is agreed with clients and legal title is passed.

 

Construction contracts

Where the outcome of a construction contract can be estimated reliably, turnover and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date compared to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract turnover is recognised to the extent of contract costs incurred where its is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract turnover the expected loss is recognised as an expense immediately. When contract costs incurred to date plus recognised profits less recognised losses exceed progress billings, the surplus is shown as amounts due from customers for contract work. For contracts where progress billings exceed contract costs incurred to date plus recognised profits less recognised losses, the surplus is shown as the amounts due to customers for the contract work. Amounts received before the related work is performed are included in the statement of financial position, as a liability, as advances received. Amounts billed for work performed but not yet paid by customer are included in the statement of financial position under trade and other receivables.

1.4
Tangible fixed assets

Tangible fixed assets 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:

Plant and machinery
15% on reducing balance
Computer equipment
25% on cost
Motor vehicles
25% on reducing balance

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 13 -

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, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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.

1.7
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.

1.8
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 profit and loss account 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 profit and loss account, 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.

EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.9
Retirement benefits

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

1.10

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

 

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Revenue and margin recognition

The company's revenue and margin recognition policies, which are set out in note 2, are central to how the company value the work it has carried out in each financial year. These policies require forecasts to be made of the outcomes of construction contracts, which require assessment and judgements to be made. The company reviews and, when necessary, revises the estimates of revenue and costs as the contract progresses.

3
Turnover and other revenue

The turnover and profit before taxation are attributable to the one principal activity of the company. All turnover arose within the United Kingdom.

2024
2023
£
£
Turnover analysed by class of business
Contract sales
21,290,780
26,880,367
EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
3
Turnover and other revenue
(Continued)
- 15 -
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
21,290,780
26,880,367
2024
2023
£
£
Other revenue
Interest income
47,346
24,464
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
19,250
17,501
Depreciation of owned tangible fixed assets
71,226
93,056
Profit on disposal of tangible fixed assets
(9,144)
(113)
5
Employees

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

2024
2023
Number
Number
Office & management
55
57
Production
58
59
Total
113
116

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
4,300,559
4,412,321
Social security costs
432,832
449,279
Pension costs
124,878
127,436
4,858,269
4,989,036
EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 16 -
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
180,428
258,383
Company pension contributions to defined contribution schemes
20,000
20,000
200,428
278,383
Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
47,346
24,464
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
169,888
314,436
Deferred tax
Origination and reversal of timing differences
(15,796)
12,064
Total tax charge
154,092
326,500
EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
8
Taxation
(Continued)
- 17 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
565,202
1,424,417
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.39%)
141,301
333,224
Tax effect of expenses that are not deductible in determining taxable profit
18,449
(6,737)
Permanent capital allowances in excess of depreciation
12,424
(12,052)
Deferred tax
(15,796)
12,065
Profit on sale of fixed asset
(2,286)
-
0
Taxation charge for the year
154,092
326,500
9
Dividends
2024
2023
£
£
Interim paid
1,658,500
600,000
10
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
26,815
5,648
702,696
735,159
Additions
-
0
-
0
22,660
22,660
Disposals
-
0
-
0
(100,800)
(100,800)
At 30 November 2024
26,815
5,648
624,556
657,019
Depreciation and impairment
At 1 December 2023
16,976
5,648
433,553
456,177
Depreciation charged in the year
1,642
-
0
69,584
71,226
Eliminated in respect of disposals
-
0
-
0
(87,331)
(87,331)
At 30 November 2024
18,618
5,648
415,806
440,072
Carrying amount
At 30 November 2024
8,197
-
0
208,750
216,947
At 30 November 2023
9,839
-
0
269,143
278,982
EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 18 -
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
466,190
481,201
Gross amounts owed by contract customers
4,223,744
3,814,603
Other debtors
15,700
-
0
Prepayments and accrued income
182,405
169,968
4,888,039
4,465,772
12
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,324,315
2,029,193
Corporation tax
169,888
315,275
Other taxation and social security
575,122
764,658
Other creditors
24,954
11,462
Accruals and deferred income
647,340
773,531
2,741,619
3,894,119
13
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Deferred tax
45,588
60,545
2024
Movements in the year:
£
Liability at 1 December 2023
60,545
Credit to profit or loss
(14,957)
Liability at 30 November 2024
45,588
14
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
412,500
412,500
412,500
412,500
EMANUEL WHITTAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 19 -
15
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 to the fund and amounted to £104,878 (2023: £127,436). There was a liability of £24,724 (2023: £10,682) included in other creditors balance at year end.

16
Related Party Disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 

During the year, the company paid £65,789 (2023: £123,782) in terms of remuneration to directors family members.

 

During the year, a total of key management personnel compensation of £485,506 (2023: £561,168) was paid.

17
Ultimate Controlling Party

The Company’s immediate parent undertaking is Emanuel Whittaker Holdings Limited, a company incorporated in England and Wales.

 

As at 30 November 2024, the Directors consider the ultimate controlling party to be Emanuel Whittaker EOT Trustee Limited, which holds its interest in Emanuel Whittaker Holdings Limited for the benefit of the employees of the group.

 

The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is Emanuel Whittaker Holdings Limited. Copies of Emanuel Whittaker Holdings Limited financial statements can be obtained from the registered office at 400 Rochdale Road, Oldham, OL1 2LW.

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