REGISTERED NUMBER: 03560407 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CONTRACTS ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C I M Barratt

M Blenkinsop

D Fisk

REGISTERED OFFICE:

2nd Floor

Medway Bridge House

1 - 8 Fairmeadow

Maidstone

Kent

ME14 1JP

REGISTERED NUMBER:

03560407 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Intangible assets

4

5,493

15,122

Tangible assets

5

1,064,825

1,005,537

1,070,318

1,020,659

CURRENT ASSETS

Stocks

27,511

53,279

Debtors

6

1,078,312

1,223,307

Cash at bank and in hand

7,413

74,822

1,113,236

1,351,408

CREDITORS

Amounts falling due within one year

7

1,020,201

950,486

NET CURRENT ASSETS

93,035

400,922

TOTAL ASSETS LESS CURRENT LIABILITIES

1,163,353

1,421,581

CREDITORS

Amounts falling due after more than one year

8

(381,272

)

(303,552

)

PROVISIONS FOR LIABILITIES

(242,006

)

(223,022

)

NET ASSETS

540,075

895,007

CAPITAL AND RESERVES

Called up share capital

101

101

Share premium

97,795

97,795

Retained earnings

442,179

797,111

SHAREHOLDERS' FUNDS

540,075

895,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

C I M Barratt - Director

1.	STATUTORY INFORMATION

Contracts Engineering Limited 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves and cash balances. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

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

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 completed goods have been delivered to the customer, or held in warehouse at the customers' instruction awaiting future delivery.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

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

Hire purchase and leasing commitments

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

Cost

At 1 January 2024

and 31 December 2024

39,574

Amortisation

At 1 January 2024

24,452

Amortisation for year

9,629

At 31 December 2024

34,081

Net book value

At 31 December 2024

5,493

At 31 December 2023

15,122

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2024

2,256,061

Additions

258,022

At 31 December 2024

2,514,083

Depreciation

At 1 January 2024

1,250,524

Charge for year

198,734

At 31 December 2024

1,449,258

Net book value

At 31 December 2024

1,064,825

At 31 December 2023

1,005,537

The net book value of assets held under finance leases or hire purchase contracts, included above is £271,946 (2023: £174,071).

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

381,924

578,863

Amounts owed by group undertakings

529,120

447,864

Other debtors

140,268

169,580

1,051,312

1,196,307

Amounts falling due after more than one year:

Other debtors

27,000

27,000

Aggregate amounts

1,078,312

1,223,307

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

30,000

30,000

Hire purchase contracts (see note 9)

121,738

91,278

Trade creditors

405,797

620,028

Amounts owed to group undertakings

39,312

-

Taxation and social security

140,715

76,502

Other creditors

282,639

132,678

1,020,201

950,486

In May 2020, the company obtained a second Coronavirus Business Interruption Loan of £150,000 repayable in installments over 5 years. First repayment and interest is due 12 months after drawdown. Interest is charged at 3.48% and the loan is secured by a debenture charge. At the balance sheet date, the balance of the loan is £42,500 (2023: £72,500).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

12,500

42,500

Hire purchase contracts (see note 9)

368,772

261,052

381,272

303,552

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

2,761

62,700

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

121,738

91,278

Between one and five years

366,011

198,352

In more than five years

2,761

62,700

490,510

352,330

Non-cancellable

operating leases

2024

2023

£

£

Within one year

231,295

160,000

Between one and five years

501,295

360,000

In more than five years

90,000

180,000

822,590

700,000

10.	SECURED DEBTS

Invoice financing creditor of £220,885 (2023: £46,171) included in creditors due in less than one year is secured on the book debts of the company. Hire purchase borrowings are secured on the assets to which they relate.

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £38,668 (2023: £29,379).

12.	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.

Blenkinsop Consulting Limited

A company under common control

For services received in prior years, the company owed Blenkinsop Consulting Limited £6,000 (2023: £6,000) at the balance sheet date.