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REGISTERED NUMBER: 10011832 (England and Wales)














Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2025

for

HEWITSON GROUP LTD

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 16


HEWITSON GROUP LTD

Company Information
for the Year Ended 31 March 2025







Directors: O S Hewitson
M E Hewitson
J E Hewitson
H M Hewitson



Registered office: Teesside Grange
Eaglescliffe
Stockton-On-Tees
TS16 0QH



Registered number: 10011832 (England and Wales)



Senior statutory auditor: Karl Michael Gordon FCCA



Auditors: Mitchell Gordon LLP
Accountants and Statutory Auditor
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Group Strategic Report
for the Year Ended 31 March 2025

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

Review of business
The group has continued to expand steadily and remains on track with its performance targets, maintaining profit levels comparable to other businesses operating within the region.

It is consistently deepening its client relationships, with a significant proportion of its work coming from repeat business, while also cultivating partnerships with new customers.

A strong pipeline of projects is scheduled for the year ahead, with sufficient capacity retained to accommodate smaller, short-notice assignments when required.

Across 2025 and 2026, the company will reinvest earnings in new plant and machinery to boost operational capacity and improve efficiency-particularly in reducing CO2 emissions.

In addition, the group has made substantial investments in training and mentoring its younger key personnel to preserve expertise within the business and uphold its high service standards for future generations.

The group has pursued strategic acquisitions throughout 2025, with the aim to expand into new geographic regions, reach additional customer demographics, and diversify its business operations. No acquisitions have taken place with the exception of those disclosed within the post balance sheet events note.

The group's key financial performance indicators for the year were:

2024 2024
Turnover £52.8m £51.4m
Profit before tax £5.2m £6.2m
Cash at bank £9.4m £9.7m
Shareholders funds £23.7m £19.8m

Principal risks and uncertainties
The two main risks to the business are economic risk and operational risk.

The economic risk is the macroeconomic risk brought about by raising energy, labour raw material cost increases. This risk is mitigated by having strong cash reserves along with ensuring clear and flexible contracts, contingency planning and the use of technology,

The operational risk is the increasing compliance and planning delays which is increasing in the construction sector. This is being mitigated by early engagement with planning authorities, a robust pre-application strategy and an emphasis of staff training and development in relation to streamlined documentation.

On behalf of the board:





M E Hewitson - Director


29 August 2025

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Report of the Directors
for the Year Ended 31 March 2025

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

Principal activities
The principal activities of the group in the year under review were those of construction, groundworks, plant hire, haulage, plant sales and property development.

Dividends
The total distribution of dividends for the period ended 31 March 2025 will be £Nil (31 March 2024: £55,000).

Events since the end of the year
Information relating to events since the end of the year is given in the notes to the financial statements.

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

O S Hewitson
M E Hewitson
J E Hewitson
H M Hewitson

Streamlined energy and carbon reporting
In accordance with the requirements of The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, the following information is presented in relation to greenhouse gas emissions:

2025 2024
Energy consumption kWh kWh
Aggregate energy consumption in the year 54.677m 34.117m


Emission of CO2 equivalent
Metric
Tonnes
Metric
Tonnes
Scope 1 - direct emissions
- Gas consumption - -
- Fuel consumed for internal transport 13,978 8,734

Scope 2 - indirect emissions
- Electricity consumed 19 16

Scope 3 - other indirect emission
- Fuel consumed for external transport - -

Total gross emission 13,997 8,750

Intensity ratio
Tonnes of CO2e per £1m turnover 233 170


Quantification and reporting methodology
The company report scope 1 emissions using recorded quantities of deliveries during the period, converted to CO2e using the UK Government conversion Factors for company Reporting. Scope 2 emissions are provided by suppliers.

Intensity measurement
The intensity measurement ratio decided upon is gross emissions in metric tonnes of CO2e per £1m turnover.

Measures taken to improve energy efficiency
The company actively pursues operational efficiencies and embraces continuous improvement to reduce CO2 emissions and minimise waste. Initiatives include cutting down on empty transport journeys, investing in cutting-edge energy-efficient equipment, and strategically planning site activities to maximise machine productivity.


HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Report of the Directors
for the Year Ended 31 March 2025

Statement of directors' responsibilities
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors
The auditors, Mitchell Gordon LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





M E Hewitson - Director


29 August 2025

Report of the Independent Auditors to the Members of
Hewitson Group Ltd

Opinion
We have audited the financial statements of Hewitson Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hewitson Group Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our commercial knowledge and experience of the sectors in which the company operates;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006, taxation legislation,
data protection compliance, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert
to instances of non-compliance throughout the audit.

These procedures did not identify any potentially material actual or suspected non-compliance.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

Report of the Independent Auditors to the Members of
Hewitson Group Ltd

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- reviewed material journal entries to identify unusual transactions or posting by unusual users;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC and the company's legal advisors.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance of fraud and cannot be expected to detect non-compliance with all laws & regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Karl Michael Gordon FCCA (Senior Statutory Auditor)
for and on behalf of Mitchell Gordon LLP
Accountants and Statutory Auditor
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

29 August 2025

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 31 March 2025

31/3/25 31/3/24
Notes £    £   

Turnover 52,803,148 51,448,955

Cost of sales 42,423,352 40,726,517
Gross profit 10,379,796 10,722,438

Administrative expenses 4,792,262 4,024,780
5,587,534 6,697,658

Other operating income 222,385 193,665
Operating profit 4 5,809,919 6,891,323

Interest receivable and similar income 390,655 316,995
6,200,574 7,208,318

Interest payable and similar expenses 5 1,010,637 1,030,000
Profit before taxation 5,189,937 6,178,318

Tax on profit 6 1,239,881 2,810,031
Profit for the financial year 3,950,056 3,368,287

Other comprehensive income - -
Total comprehensive income for the year 3,950,056 3,368,287

Profit attributable to:
Owners of the parent 3,950,056 3,368,287

Total comprehensive income attributable to:
Owners of the parent 3,950,056 3,368,287

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Consolidated Balance Sheet
31 March 2025

31/3/25 31/3/24
Notes £    £    £   
Fixed assets
Intangible assets 9 - -
Tangible assets 10 31,445,526 25,076,777
Investments 11 - -
Investment property 12 600,025 -
32,045,551 25,076,777

Current assets
Stocks 13 3,615,432 3,171,523
Debtors 14 8,569,092 8,716,329
Cash at bank and in hand 9,379,018 9,675,631
21,563,542 21,563,483
Creditors
Amounts falling due within one year 15 13,584,296 13,772,254
Net current assets 7,979,246 7,791,229
Total assets less current liabilities 40,024,797 32,868,006

Creditors
Amounts falling due after more than one
year

16

(11,390,151

)

(9,132,702

)

Provisions for liabilities 19 (4,922,462 ) (3,973,176 )
Net assets 23,712,184 19,762,128

Capital and reserves
Called up share capital 20 3 3
Retained earnings 21 23,712,181 19,762,125
Shareholders' funds 23,712,184 19,762,128

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





M E Hewitson - Director


HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Company Balance Sheet
31 March 2025

31/3/25 31/3/24
Notes £    £    £   
Fixed assets
Intangible assets 9 - -
Tangible assets 10 562,485 -
Investments 11 1,418,476 283,782
Investment property 12 - -
1,980,961 283,782

Current assets
Debtors 14 13,667,894 10,299,376
Cash at bank 77,444 12,512
13,745,338 10,311,888
Creditors
Amounts falling due within one year 15 3,181,609 205,821
Net current assets 10,563,729 10,106,067
Total assets less current liabilities 12,544,690 10,389,849

Capital and reserves
Called up share capital 20 3 3
Retained earnings 21 12,544,687 10,389,846
Shareholders' funds 12,544,690 10,389,849

Company's profit for the financial year 2,154,841 4,045,354

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





M E Hewitson - Director


HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 3 16,448,838 16,448,841

Changes in equity
Dividends - (55,000 ) (55,000 )
Total comprehensive income - 3,368,287 3,368,287
Balance at 31 March 2024 3 19,762,125 19,762,128

Changes in equity
Total comprehensive income - 3,950,056 3,950,056
Balance at 31 March 2025 3 23,712,181 23,712,184

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Company Statement of Changes in Equity
for the Year Ended 31 March 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 3 6,399,492 6,399,495

Changes in equity
Dividends - (55,000 ) (55,000 )
Total comprehensive income - 4,045,354 4,045,354
Balance at 31 March 2024 3 10,389,846 10,389,849

Changes in equity
Total comprehensive income - 2,154,841 2,154,841
Balance at 31 March 2025 3 12,544,687 12,544,690

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Consolidated Cash Flow Statement
for the Year Ended 31 March 2025

31/3/25 31/3/24
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 9,004,115 10,596,507
Interest paid (5,211 ) (502 )
Interest element of hire purchase payments
paid

(1,005,426

)

(1,029,498

)
Tax paid (416,182 ) (404,059 )
Net cash from operating activities 7,577,296 9,162,448

Cash flows from investing activities
Purchase of intangible fixed assets 8,888 -
Purchase of tangible fixed assets (3,660,697 ) (3,827,408 )
Purchase of investment property (600,025 ) -
Sale of tangible fixed assets 4,722,817 5,280,698
Fixed asset adjustment - (6,523 )
Interest received 390,655 316,995
Net cash from investing activities 861,638 1,763,762

Cash flows from financing activities
Capital repayments in year (8,818,324 ) (7,102,355 )
Amount withdrawn by directors 100 -
Movement in other loans 82,677 (39,052 )
Equity dividends paid - (55,000 )
Net cash from financing activities (8,735,547 ) (7,196,407 )

(Decrease)/increase in cash and cash equivalents (296,613 ) 3,729,803
Cash and cash equivalents at beginning of
year

2

9,675,631

5,945,828

Cash and cash equivalents at end of year 2 9,379,018 9,675,631

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2025

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

31/3/25 31/3/24
£    £   
Profit before taxation 5,189,937 6,178,318
Depreciation charges 5,094,952 4,612,554
Profit on disposal of fixed assets (545,745 ) (770,130 )
Finance costs 1,010,637 1,030,000
Finance income (390,655 ) (316,995 )
10,359,126 10,733,747
Increase in stocks (443,909 ) (742,800 )
Decrease in trade and other debtors 65,092 289,440
(Decrease)/increase in trade and other creditors (976,194 ) 316,120
Cash generated from operations 9,004,115 10,596,507

2. CASH AND CASH EQUIVALENTS

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

Year ended 31 March 2025
31/3/25 1/4/24
£    £   
Cash and cash equivalents 9,379,018 9,675,631
Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 9,675,631 5,945,828


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1/4/24 Cash flow changes At 31/3/25
£    £    £    £   
Net cash
Cash at bank
and in hand 9,675,631 (296,613 ) 9,379,018
9,675,631 (296,613 ) 9,379,018
Debt
Finance leases (15,557,891 ) 8,818,324 (11,988,964 ) (18,728,531 )
(15,557,891 ) 8,818,324 (11,988,964 ) (18,728,531 )
Total (5,882,260 ) 8,521,711 (11,988,964 ) (9,349,513 )

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2025

4. ACQUISITION OF BUSINESS

In the year the company acquired Albrough Homes Ltd for £100. As part of the acquisition the company acquired all the net assets of Albrough Homes Ltd totalling £8,988.

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Hewitson Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

The financial statements have been prepared on the going concern basis of accounting.

Basis of consolidation
The consolidated financial statements are prepared in accordance with the Group accounting policies. All of the company's subsidiaries are included in the consolidated financial statements as all 100% owned by the parent company. All intercompany transactions have been excluded from the consolidated financial statements.

Critical accounting 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.

- Construction contracts
These policies require forecasts to be made on the outcomes of construction contracts which require assessments and judgements to be made on the recoverability of pre-contract costs, changes in the scope of work, contract programmes, defect liabilities and changes in costs.

The Company's revenue recognition policy is set out within the accounting policy for Turnover and is central to how the company values the work it has carried out in each financial year.

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is being recognised according to the stage of completion of work done. In the case of groundwork income this is determined using quantity surveying methods.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:

- Construction contracts
When the outcome of individual contracts can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses by reference to the stage of completion at the reporting date.

- Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods or on completion of contracts.

- Rendering of services
When the outcome of a transaction can be estimated reliably. Turnover from the hire of plant is recognised by reference to the period of hire at the balance sheet date. In the case of groundwork income this is determined using quantity surveying methods.

Goodwill
Goodwill generated on the purchase of Albrough Homes Ltd in the year has been fully wrote off to the profit and loss account in the year, the purchase of the company represented a bargain purchase of the share capital.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 12.5% on cost and At varying rates
Motor vehicles - 50% on reducing balance, 33% on reducing balance and 25% on reducing balance
Computer equipment - 33% on cost, 33% on reducing balance, 25% on reducing balance, 20% on cost and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress for construction contracts is valued using the percentage completion method.

Non-contracted work in progress is valued using the lower of cost and net realisable value.

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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

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

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases 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 estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Investments in subsidiaries
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit and loss.

3. EMPLOYEES AND DIRECTORS
31/3/25 31/3/24
£    £   
Wages and salaries 8,565,629 8,785,356
Social security costs 211,186 107,946
Other pension costs 329,767 127,459
9,106,582 9,020,761

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31/3/25 31/3/24

Employees 179 185
Directors 4 4
183 189




Year Ended
31/3/25


Year
Ended
31/3/24
£ £
Directors' remuneration inc. bonuses 274,584 353,309
Directors' pension contributions to money purchase schemes 134,104 77,280

The number of directors to whom retirement benefits were accruing was as follows

Money purchase schemes 4 4

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31/3/25 31/3/24
£    £   
Hire of plant and machinery 4,362,716 3,485,519
Depreciation - owned assets 1,191,446 1,400,950
Depreciation - assets on hire purchase contracts 3,912,394 3,211,604
Profit on disposal of fixed assets (545,745 ) (770,130 )
Auditors' remuneration 60,600 21,757
Foreign exchange differences (3,490 ) 11,612

In accordance with s494 of the Companies Act 2006, total remuneration received by the auditor is analysed as follows:




Year
Ended
31/3/25


Year
Ended
31/3/24
£ £
Auditing of the financial statements 55,143 21,757
Other services - 11,016
55,143 32,773


HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31/3/25 31/3/24
£    £   
Bank interest 72 486
Bank loan interest 5,139 16
Hire purchase 1,005,426 1,029,498
1,010,637 1,030,000

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/3/25 31/3/24
£    £   
Current tax:
UK corporation tax 290,595 467,641
Overprovision in prior year - (16 )
Total current tax 290,595 467,625

Deferred tax 949,286 2,342,406
Tax on profit 1,239,881 2,810,031

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

31/3/25 31/3/24
£    £   
Profit before tax 5,189,937 6,178,318
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2024 - 25 %)

1,297,484

1,544,580

Effects of:
Expenses not deductible for tax purposes 619 8,144
Income not taxable for tax purposes (126,133 ) (193,517 )
Capital allowances in excess of depreciation (896,714 ) (683,547 )
Utilisation of tax losses - (259,779 )
Adjustments to tax charge in respect of previous periods - (16 )
Gross gains 15,339 51,760

Accelerated capital allowances - deferred tax 949,286 873,881
Change in rate in taxation - deferred tax - 1,468,525
Total tax charge 1,239,881 2,810,031

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

8. DIVIDENDS
31/3/25 31/3/24
£    £   
Paid during the year - 55,000

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions (8,888 )
Impairments 8,888
At 31 March 2025 -
NET BOOK VALUE
At 31 March 2025 -

10. TANGIBLE FIXED ASSETS

Group
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 - 35,161,305 1,023,494 52,580 36,237,379
Additions 562,485 14,549,346 537,830 - 15,649,661
Disposals - (7,588,219 ) (133,252 ) (28,799 ) (7,750,270 )
At 31 March 2025 562,485 42,122,432 1,428,072 23,781 44,136,770
DEPRECIATION
At 1 April 2024 - 10,736,306 381,524 42,772 11,160,602
Charge for year - 4,857,019 240,910 5,911 5,103,840
Eliminated on disposal - (3,456,567 ) (88,061 ) (28,570 ) (3,573,198 )
At 31 March 2025 - 12,136,758 534,373 20,113 12,691,244
NET BOOK VALUE
At 31 March 2025 562,485 29,985,674 893,699 3,668 31,445,526
At 31 March 2024 - 24,424,999 641,970 9,808 25,076,777

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2024 24,574,149 242,648 24,816,797
Additions 12,577,843 - 12,577,843
Disposals (3,389,187 ) (29,315 ) (3,418,502 )
Transfer to ownership (5,786,152 ) - (5,786,152 )
Reclassification/transfer - 111,900 111,900
At 31 March 2025 27,976,653 325,233 28,301,886
DEPRECIATION
At 1 April 2024 6,170,642 84,319 6,254,961
Charge for year 3,850,999 61,395 3,912,394
Eliminated on disposal (1,180,838 ) (19,348 ) (1,200,186 )
Transfer to ownership (2,833,181 ) - (2,833,181 )
Reclassification/transfer - 31,332 31,332
At 31 March 2025 6,007,622 157,698 6,165,320
NET BOOK VALUE
At 31 March 2025 21,969,031 167,535 22,136,566
At 31 March 2024 18,403,507 158,329 18,561,836

Company
Freehold
property
£   
COST
Additions 562,485
At 31 March 2025 562,485
NET BOOK VALUE
At 31 March 2025 562,485

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

11. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST OR VALUATION
At 1 April 2024 283,782
Additions 100
Adjustment to present value 1,134,594
At 31 March 2025 1,418,476
NET BOOK VALUE
At 31 March 2025 1,418,476
At 31 March 2024 283,782

Cost or valuation at 31 March 2025 is represented by:

Unlisted
investments
£   
Valuation in 2019 96,678
Valuation in 2020 (5,098 )
Valuation in 2021 22,455
Valuation in 2023 70,087
Valuation in 2024 99,452
Valuation in 2025 1,134,594
Cost 308
1,418,476

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Hewitson Ltd
Registered office: Teesside Grange, Eaglescliffe, Stockton-on-Tees, TS16 0QH
Nature of business: Groundworks
%
Class of shares: holding
Ordinary 100.00
31/3/25 31/3/24
£    £   
Aggregate capital and reserves 3,897,752 2,800,549
Profit for the year 2,097,203 3,047,527

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

11. FIXED ASSET INVESTMENTS - continued

Hewitson Plant Hire Ltd
Registered office: Teesside Grange, Eaglescliffe, Stockton-on-Tees, TS16 0QH
Nature of business: Plant hire
%
Class of shares: holding
Ordinary 100.00
31/3/25 31/3/24
£    £   
Aggregate capital and reserves 3,729,594 3,184,229
Loss for the year (105,466 ) (1,825,587 )

Hewitson Haulage Ltd
Registered office: Teesside Grange, Eaglescliffe, Stockton-on-Tees, TS16 0QH
Nature of business: Haulage
%
Class of shares: holding
Ordinary 100.00
31/3/25 31/3/24
£    £   
Aggregate capital and reserves 1,395,170 1,001,405
Profit for the year 593,665 370,810

Appleton Homes Ltd
Registered office: Teesside Grange, Eaglescliffe,Stockton-on-Tees,TS16 0QH
Nature of business: Development of property
%
Class of shares: holding
Ordinary 100.00
31/3/25 31/3/24
£    £   
Aggregate capital and reserves 312,199 272,004
Profit for the year 40,195 3,021

Hewitson Plant Sales Ltd
Registered office: Teesside Grange, Eaglescliffe, Stockton-on-Tees, TS16 0QH
Nature of business: Plant sales
%
Class of shares: holding
Ordinary 100.00
31/3/25 31/3/24
£    £   
Aggregate capital and reserves 2,200,250 1,888,469
Profit for the year 711,781 794,958

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

11. FIXED ASSET INVESTMENTS - continued

Oaktree Living Ltd
Registered office: Teesside Grange, Eaglescliffe, Stockton-on-Tees, TS16 0QH
Nature of business: Development of property
%
Class of shares: holding
Ordinary 100.00
31/3/25 31/3/24
£    £   
Aggregate capital and reserves 727,548 517,382
Profit for the year 210,166 387,204

Albrough Homes Ltd
Registered office: Teesside Grange, Eaglescliffe, Stockton-on-Tees, TS16 0QH
Nature of business: Development of property
%
Class of shares: holding
Ordinary 100.00
31/3/25
£   
Aggregate capital and reserves 323,455
Loss for the year (169,296 )

The company was acquired on 1st April 2024 for £100 being the par value of the shares.


12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
Additions 600,025
At 31 March 2025 600,025
NET BOOK VALUE
At 31 March 2025 600,025

Investment property is held at cost, the directors consider this to be the most accurate reflection of the fair value of the properties as at 31 March 2025. No formal valuation has taken place.

13. STOCKS

Group
31/3/25 31/3/24
£    £   
Stocks 3,615,432 3,171,523

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

14. DEBTORS

Group Company
31/3/25 31/3/24 31/3/25 31/3/24
£    £    £    £   
Amounts falling due within one year:
Trade debtors 4,540,192 3,004,257 - -
Amounts owed by group undertakings - - 6,978,434 8,515,740
Other debtors 1,209,376 604,282 - 16,512
VAT 176,138 557,473 - -
Prepayments and accrued income 2,504,843 4,250,317 - -
8,430,549 8,416,329 6,978,434 8,532,252

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 6,689,460 1,767,124
Other debtors 138,543 - - -
Prepayments and accrued income - 300,000 - -
138,543 300,000 6,689,460 1,767,124

Aggregate amounts 8,569,092 8,716,329 13,667,894 10,299,376

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/3/25 31/3/24 31/3/25 31/3/24
£    £    £    £   
Hire purchase contracts (see note 17) 7,356,249 6,445,970 - -
Trade creditors 3,767,326 4,311,896 250 -
Amounts owed to group undertakings - - 3,093,370 -
Tax 118,685 244,272 - -
Social security and other taxes 262,564 359,114 23,946 105,430
VAT - - 44,343 85,962
Other creditors 463,792 876,127 11,442 9,929
Directors' current accounts 100 - 100 -
Deferred grant 2,913 3,386 - -
Accrued expenses 1,612,667 1,531,489 8,158 4,500
13,584,296 13,772,254 3,181,609 205,821

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31/3/25 31/3/24
£    £   
Hire purchase contracts (see note 17) 11,372,282 9,111,921
Deferred grant 17,869 20,781
11,390,151 9,132,702

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31/3/25 31/3/24
£    £   
Net obligations repayable:
Within one year 7,356,249 6,445,970
Between one and five years 11,372,282 9,111,921
18,728,531 15,557,891

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
31/3/25 31/3/24
£    £   
Hire purchase contracts 18,728,531 15,557,891

The hire purchase debts are secured by the assets to which they relate.

19. PROVISIONS FOR LIABILITIES

Group
31/3/25 31/3/24
£    £   
Deferred tax 4,922,462 3,973,176

Group
Deferred
tax
£   
Balance at 1 April 2024 3,973,176
Accelerated capital allowances 949,286
Balance at 31 March 2025 4,922,462

In the following period the amount of deferred tax provision that is expected to unwind is £935,277 (31/3/24 £696,202).

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/25 31/3/24
value: £    £   
3 Ordinary £1 3 3

Each share has full voting rights and full entitlement to profit and capital distributions.

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

21. RESERVES

Group
Retained
earnings
£   

At 1 April 2024 19,762,125
Profit for the year 3,950,056
At 31 March 2025 23,712,181

Company
Retained
earnings
£   

At 1 April 2024 10,389,846
Profit for the year 2,154,841
At 31 March 2025 12,544,687


22. CONTINGENT LIABILITIES

A debenture exists including a charge over the assets of the company dated 14 February 2019 in favour of Handelsbanken PLC.

A multilateral guarantee exists between Hewitson Limited, Hewitson Plant Hire Limited, Hewitson Haulage Ltd, HAB Northern Ltd, Oaktree Living Limited and Hewitson Plant Sales Limited dated 14th April 2014 in favour of HSBC Bank plc.

The total liability owed to HSBC at the year-end accross the group is £5,278,035.

23. 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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

During the year the group received recharges and management charges totalling £174,391 (31/3/2024: £175,543) from companies or unincorporated entities which M E Hewitson owns. There was also management charges paid totalling £Nil (31/3/2024: £48,380) to companies and unincorporated business owned by M E Hewitson.

During the year, a total of key management personnel compensation of £ 800,774 (2024 - £ 1,068,177 ) was paid.

24. POST BALANCE SHEET EVENTS

On 06 June 2025, Hewitson Group Limited purchased 40 ordinary shares in Promenade Park Properties Limited for £400,000 to gain 50% control of the company. As part of this agreement, Hewitson Group Limited agreed to loan the company £900,000.

HEWITSON GROUP LTD (REGISTERED NUMBER: 10011832)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025

25. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M E Hewitson.