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Registered number: 04597665
McAndrew Utilities Limited
Strategic Report, Director's Report and
Financial Statements
For The Year Ended 30 November 2024
Financial Statements
Contents
Page
Strategic Report 1
Director's Report 2—3
Independent Auditor's Report 4—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—20
Page 1
Strategic Report
The director presents his strategic report for the year ended 30 November 2024.
Review of the Business
Within this report the directors aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties that we all face.
Principal Risks and Uncertainties
As for a significant number of businesses of our size, the business environment in which we operate continued to present challenges in 2024. We, like many others, are subject to the changing economic climate inherent within the current global economic environment This is due in no small part to both the continued risks and increased cost of materials.
The company remains focused and committed to managing the factors which affected our business this year.
Future Developments
The directors are constantly looking at new processes, machinery and materials to improve productivity and the overall profitability of the company. Our turnover and profitability continue to improve into the current year.
The directors are confident that their experience within the sector will deliver revenue growth over the coming years.
Financial Key Performance Indicators
We consider that our key financial performance indicators are those that communicate the financial performance and position of the company as a whole, these being turnover, operating margin and return on capital employed.
We can report that turnover has reduced in the current year, down from to £22.3m in 2023 to £15.5m in 2024. Operating margins have reduced to a profit of £1,932,171 (2023: £4,350,713) resulting in a profit before taxation of £2,094,087 (2023: £4,623,689). 
The return on capital employed was a return of 31.04% (2023: 34.03%). Return on capital employed is calculated as profit before tax and interest divided by capital employed, which constitutes total assets less current liabilities. This is a result of our focus in investing in the right equipment and people.
On behalf of the board
Mr Sean McAndrew
Director
Mrs Debora McAndrew
Company Secretary
28th August 2025
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 30 November 2024.
Principal Activity
The company's principal activity continues to be that of a utilities contractor.
Dividends
The value of dividends paid amounted to £6,000 .
The director recommended a final dividend of £NIL .
Directors
The director who held office during the year were as follows:
Mr Sean McAndrew
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.
Statement of Director's Responsibilities
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director 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 director is 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 director is 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. He is 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 director is 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
In the case of each director in office at the date the Director's Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves 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, Nuvo Audit Limited, 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 Sean McAndrew
Director
Mrs Debora McAndrew
Company Secretary
28th August 2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of McAndrew Utilities Limited for the year ended 30 November 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its profit/(loss) 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 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 director's 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 entity's ability to continue as a going concern for a period of at least 12 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 director is 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. 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Director's Report 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 Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of director's 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 Director's Responsibilities Statement set out on page 2—3, the director is 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 director 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 director is 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: 
Irregularties, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilites, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Enquiring of management of any known or suspected instances of fraud, as well as considering management's assessment of the susceptibility of the financial statements to fraud. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements. Performing substantive testing over a selection of journal entries made in the period, to address the risk of fraud due to managment overide of controls. With a focus on entries made by unusual team members or entries made at unusual times or on unusual dates. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate an increased risk of material misstatement as a result of fraud or management overide. Assessing accounting estimates which have a material impact of the year end accounts, to determine if there is indication of managment bias.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughtout the audit.
Our audit did not identify any key audit matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit and that by their nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentation, or the overide of internal controls. 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 that 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.
Page 5
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Mr D Johnson FCCA (Senior Statutory Auditor) (Senior Statutory Auditor)
for and on behalf of Nuvo Audit Limited , Statutory Auditor
28th August 2025
Nuvo Audit Limited
Chartered Certified Accountants & Stat' Auditors
First Floor, Sterling House, Outrams Wharf,
Little Eaton, Derby
Derbyshire
DE21 5EL
Page 6
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 2 15,553,378 22,297,426
Cost of sales (10,085,902 ) (14,438,255 )
GROSS PROFIT 5,467,476 7,859,171
Administrative expenses (3,535,308 ) (3,508,458 )
OPERATING PROFIT 3 1,932,168 4,350,713
(Loss)/profit on disposal of fixed assets (30,739 ) 12,764
Other interest receivable and similar income 8 246,561 264,569
Interest payable and similar charges 9 (53,906 ) (4,357 )
PROFIT BEFORE TAXATION 2,094,084 4,623,689
Tax on Profit 10 (551,824 ) (1,088,049 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 1,542,260 3,535,640
The notes on pages 12 to 20 form part of these financial statements.
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Statement of Comprehensive Income
2024 2023
£ £
Profit for the financial year 1,542,260 3,535,640
Other comprehensive income for the year - -
Total comprehensive income for the year 1,542,260 3,535,640
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Balance Sheet
Registered number: 04597665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 624,597 688,969
624,597 688,969
CURRENT ASSETS
Stocks 13 975,124 718,939
Debtors 14 3,784,624 4,716,867
Cash at bank and in hand 3,639,565 10,083,734
8,399,313 15,519,540
Creditors: Amounts Falling Due Within One Year 15 (2,899,439 ) (3,387,474 )
NET CURRENT ASSETS (LIABILITIES) 5,499,874 12,132,066
TOTAL ASSETS LESS CURRENT LIABILITIES 6,124,471 12,821,035
Creditors: Amounts Falling Due After More Than One Year 16 (56,289 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (144,933 ) (159,046 )
NET ASSETS 5,923,249 12,661,989
CAPITAL AND RESERVES
Called up share capital 20 100 100
Profit and Loss Account 5,923,149 12,661,889
SHAREHOLDERS' FUNDS 5,923,249 12,661,989
On behalf of the board
Mr Sean McAndrew
Director
28th August 2025
The notes on pages 12 to 20 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 December 2022 100 9,187,749 9,187,849
Profit for the year and total comprehensive income - 3,535,640 3,535,640
Dividends paid - (61,500) (61,500)
As at 30 November 2023 and 1 December 2023 100 12,661,889 12,661,989
Profit for the year and total comprehensive income - 1,542,260 1,542,260
Dividends paid - (6,000) (6,000)
Capital contribution to Employee Ownership Trust - (8,275,000) (8,275,000)
As at 30 November 2024 100 5,923,149 5,923,249
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 3,173,389 4,605,027
Interest paid (53,906 ) (4,357 )
Tax paid (1,506,532 ) (537,513 )
Net cash generated from operating activities 1,612,951 4,063,157
Cash flows from investing activities
Purchase of tangible assets (110,042 ) (273,413 )
Proceeds from disposal of tangible assets 2,731 106,003
Interest received 246,561 264,569
Net cash generated from investing activities 139,250 97,159
Cash flows from financing activities
Equity dividends paid (8,281,000 ) (61,500 )
Repayment of finance leases 84,144 -
Amount introduced by directors 486 -
Amount withdrawn by directors - (353)
Net cash used in financing activities (8,196,370 ) (61,853 )
(Decrease)/increase in cash and cash equivalents (6,444,169 ) 4,098,463
Cash and cash equivalents at beginning of year 2 10,083,734 5,985,271
Cash and cash equivalents at end of year 2 3,639,565 10,083,734
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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 1,542,260 3,535,640
Adjustments for:
Tax on profit 551,824 1,088,049
Interest expense 53,906 4,357
Interest income (246,560 ) (264,569 )
Amortisation of intangible assets - 1,829
Depreciation of tangible assets 140,944 158,880
Loss/(profit) on disposal of tangible assets 30,739 (12,764)
Movements in working capital:
Increase in stocks (256,185 ) (90,552 )
Decrease in trade and other debtors 932,243 1,636,670
Increase/(decrease) in trade and other creditors 424,218 (1,452,513 )
Net cash generated from operations 3,173,389 4,605,027
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 3,639,565 10,083,734
3. Analysis of changes in net funds
As at 1 December 2023 Cash flows As at 30 November 2024
£ £ £
Cash at bank and in hand 10,083,734 (6,444,169) 3,639,565
Finance leases - (84,144) (84,144)
10,083,734 (6,528,313) 3,555,421
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Significant judgements and estimations
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.
Long Term Contracts
Recognition of profit on long term contracts requires managment judgement regarding the anticipated final revenue and costs on individual contracts and the stage of completion of contracts at the year end. Management undertakes detailed reviews of contracts monthly to exercise judgement over the outcome. Regular management reviews of contract progress include comparison of internal cost forecast, applications for payment made by sub-contractors and external valuations of works completed to date.
Management maintain robust processes and procedures to ensure that estimates are applied on a consistent basis.
Recoverability of Trade Debtors
The recoverability of trade debtor balances can be uncertain and could lead to possible impairment. The company assesses the recoverability of trade debtors based on historical experience, with reference to the financial position and performance of the counterparty, among other factors.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
1.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 15% reducing balance
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33.3% reducing balance
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1.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
1.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
1.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
1.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2. Turnover by Principal Activities
Analysis of turnover by principal activities is as follows:
2024 2023
£ £
Rendering of services 15,553,378 22,244,767
Training grants - 52,659
15,553,378 22,297,426
3. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts 10,720 4,709
Depreciation of tangible fixed assets 140,944 158,880
Amortisation of intangible fixed assets - 1,829
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 10,150 6,250
5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 1,060,223 1,086,502
Social security costs 110,462 105,305
Other pension costs 20,271 19,721
1,190,956 1,211,528
6. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 29 (2023: 29)
29 29
7. Director's remuneration
2024 2023
£ £
Emoluments 11,500 10,800
11,500 10,800
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8. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 246,561 262,401
Interest received on corporation tax - 2,168
246,561 264,569
9. Interest Payable
2024 2023
£ £
Credit interest 4,076 4,357
Finance charges payable under finance leases and hire purchase contracts 500 -
Other finance charges 49,330 -
53,906 4,357
10. Tax on Profit
Tax Rate 2024 2023
2024 2023 £ £
UK Corporation Tax 25.0% 23.0% 565,938 1,055,862
Total Current Tax Charge 565,938 1,055,862
Deferred taxation RT (14,114 ) 32,187
Total tax charge for the period 551,824 1,088,049
2024 2023
£ £
Profit before tax 2,094,084 4,623,689
Breakdown of tax charge is:
Tax on profit at 25% (UK standard rate) 523,522 1,063,911
Goodwill/depreciation not allowed for tax 1,980 708
Expenses not deductible for tax purposes 26,322 8,088
Deferred tax relating to changes in tax rates or laws - 15,342
Total tax charge for the period 551,824 1,088,049
11. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 50,000
As at 30 November 2024 50,000
Amortisation
As at 1 December 2023 50,000
As at 30 November 2024 50,000
...CONTINUED
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Net Book Value
As at 30 November 2024 -
As at 1 December 2023 -
12. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2023 55,529 947,853 35,000 17,484
Additions - - 104,907 4,152
Disposals - (97,948 ) - (15,349 )
As at 30 November 2024 55,529 849,905 139,907 6,287
Depreciation
As at 1 December 2023 2,737 367,530 10,517 5,608
Provided during the period 7,919 111,496 14,096 972
Disposals - (75,105 ) - (4,880 )
As at 30 November 2024 10,656 403,921 24,613 1,700
Net Book Value
As at 30 November 2024 44,873 445,984 115,294 4,587
As at 1 December 2023 52,792 580,323 24,483 11,876
Computer Equipment Total
£ £
Cost
As at 1 December 2023 37,502 1,093,368
Additions 983 110,042
Disposals (502 ) (113,799 )
As at 30 November 2024 37,983 1,089,611
Depreciation
As at 1 December 2023 18,007 404,399
Provided during the period 6,461 140,944
Disposals (344 ) (80,329 )
As at 30 November 2024 24,124 465,014
Net Book Value
As at 30 November 2024 13,859 624,597
As at 1 December 2023 19,495 688,969
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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
£ £
Motor Vehicles 90,925 -
90,925 -
13. Stocks
2024 2023
£ £
Stock 368,495 359,814
Work in progress 606,629 359,125
975,124 718,939
14. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,140,840 2,294,814
Amounts recoverable on contracts 1,145,037 1,227,047
Prepayments and accrued income 287,510 294,500
Other debtors 117,795 673,391
VAT 93,442 227,115
3,784,624 4,716,867
15. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,855 -
Trade creditors 1,133,589 992,751
Payments on account 538,524 388,256
Other creditors 122,880 17,237
Corporation tax 115,268 1,055,862
Taxation and social security 40,386 47,900
Accruals and deferred income 920,937 885,468
2,899,439 3,387,474
16. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 56,289 -
56,289 -
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17. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 32,842 -
Between one and five years 60,663 -
93,505 -
Less: Finance charges allocated to future periods 9,361 -
84,144 -
Minimum lease payments under non-cancellable operating leases fall du as follows:
2023 2022
18. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 144,933 159,046
19. Provisions for Liabilities
Deferred Tax
£
As at 1 December 2023 159,046
Utilised (14,113 )
Balance at 30 November 2024 144,933
20. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
21. Financial Instruments
The company has the following financial instruments:
2024 2023
£ £
Financial assets
Financial assets that are debt Instruments measured at amortised cost 7,555,320 14,506,101
Financial liabilities
Financial liabilities measured at amortised cost 2,311,296 1,943,356
Financial assets measured at amortised cost include trade debtors, other debtors, VAT and cash and cash equivalents.
Financial liabilities measured at amortised cost include net obiligations under finance lease and hire purchase contracts, trade creditors and other creditors.
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22. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as follows:
Land and buildings
2024 2023
£ £
Within 1 year 66,251 62,643
Between 1 and 5 years 185,341 232,125
251,592 294,768
23. 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.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £20,271 (2023: £19,721).
At the balance sheet date contributions of £7,028 (2023: £3,706) were due to the fund and are included in creditors.
24. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 6,000 -
Final dividend paid - 61,500
6,000 61,500
25. Related Party Disclosures
The company was under the control of Mr S McAndrew throughout the current year until 28 March 2024 and the previous year. Mr McAndrew is the managing director.
As from 28 March 2024, the company was controlled by McAndrew Utilities Trustees Limited (an Employee Ownership Trust) following a purchase of 100% of the Company's share capital. Both Mr S McAndrew and Mrs D McAndrew are directors of McAndrew Utilities Trustees Limited. 
During the year, the company made capital contributions of £8,275,000 to the Employee Ownership Trust to enable it to fund the consideration to former shareholders. These contributions have been treated as distributions in equity.
At the year end, no amounts were payable or receivable from the trust.
During the year the company entered into the following transactions with S&D Services Limited, a company of which Mr S McAndrew is a director and shareholder. 
Subcontractor costs £489,870 (2023: £1,846,176)
At the year end, the company owed S&D Services Limited £25,940 (2023: £79,800) included in trade creditors.
During the year the company entered into the following transactions with MAC Mediation Limited, a company associated by close familial ties.
Subcontractor costs £513,727 (2023: £1,346,990)
At the year end, the company owed MAC Mediation Limited £56,517 (2023: £75,960) included in trade creditors.
Included in other debtors as at the year end are balances of £101,687 (2023: £101,687) and £0 (2023: £418,641) owed by McAndrew Property Developments Limited and McAndrew Civil Engineering Limited respectively, of which Mr S McAndrew is a director and shareholder. These loans are interest free and repayable on demand.
26. Controlling Parties
The company is under the control of its immediate parent company, McAndrew Utilities Trustees Limited. The parent company is limited by guarantee and controlled by the trustees, therefore there is no ultimate controlling party.
27. General Information
McAndrew Utilities Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04597665 . The registered office is Suite 3, Chester Court, Alfreton Road, Derby, DE21 4AB.
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