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J P Dunn Construction Limited
Company Information
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J P Dunn Construction Limited
Contents
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J P Dunn Construction Limited
Strategic report
For the year ended 30 September 2025
The directors present their strategic report for the year ended 30 September 2025.
The purpose of the Strategic Report is to inform shareholders and help them to assess how the directors have performed their duties to promote the success of the Company. The report, together with the further information in the Directors' Report provides a fair and balanced review of the Company's business including:
i) The development and performance of the business during the year;
ii) The position of the Company at the end of the year; and
iii) A description of the principal risks and uncertainties facing the Company.
The principal activity of the Company during the year was that of a specialist sub-contractor in the construction industry carrying out groundworks and RC frames.
During the year the company turnover increased to £30,054,671 (2024: decreased to £24,154,733). This rebound represented a partial recovery in turnover. Turnover remained depressed due to a combination of factors including jobs being deferred due to the Building Safety Act, and the radical slowdown in the London residential market. In the year ahead there is a much stronger pipeline secured with turnover set to return to the levels of pre-2023. An operating profit was made in the year of £1,541,928 (2024: loss of £186,157). A healthy gross margin was made across the projects. The company has strong net assets in the balance sheet of £8,094,193 (2024: £13,575,804). This reflects the full impact of the management buyout on the 29 October 2024. The fixed assets are stated at £4,463,079 (2024: £3,951,747) and a very strong year end cash position at £7,243,822 (2024: £8,623,376). The Company remains focused on delivering complex jobs safely, to the quality required, and on time. The bulk of on-going work remains with repeat customers including Knight Harwood, Bowmer and Kirkland, Kier, Wates, Kingerlee, McAlpine, Morgan Sindall, and Galliford Try. Key to the business success is a collaborative approach with customers from the pre-contract phase through to project completion. The company has no significant legacy disputes. Over the last two years the company has made a significant investment in both the infrastructure and management team at the plant yard in Woking. The HQ has moved to Teddington which has provided an enhanced professional environment. The senior management team has been strengthened by the appointment of Jerry Fahy as Operations Director. With a strong liquidity, a high ownership of specialist equipment, a wide client base, and a healthy pipeline of secured work the company is well positioned to move forward positively in the year ahead. The financial position of the Company at the year end at the year end the Company had a pre-tax profit for the year of £1,586,181 (2024: £70,073). The Company has no bank borrowings and limited outstanding hire purchase agreements (see notes 19-21).
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J P Dunn Construction Limited
Strategic report (continued)
For the year ended 30 September 2025
The directors continually monitor the key risks facing the Company together with assessing the controls used for managing these risks. The principal risks and uncertainties facing the Company are as follows:
Liquidity risk The Company manages its cash requirements to ensure that the Company has sufficient resources to meet the operating needs of the business. Interest rate risk Borrowings are capped at £1m via HP agreements and rates for these are fixed so there is no exposure to interest rate fluctuations. Credit risk The nature of the activities means that individual client balances can sometimes be significant. The Company's clients are monitored on an ongoing basis to determine the exposure to bad debts and the timing and size of contract entered into is managed to limit this risk to an acceptable level.
In addition, the company has put in place credit insurance to cover bad debts due to the uncertainties of the market.
The Company monitors the business performance through a number of key performance indicators, mainly those noted above. Given the straightforward nature of the business the directors are of the opinion that further analysis using non-financial KPI's is not necessary for the understanding of the development, performance or position of the business.
The Company has very limited exposure to financial instruments in respect of its own assets which comprise principally of cash in liquid resources, trade debtors, trade creditors and finance leases that arise directly from its operations.
Research and development
During the financial year the company incurred research and development (R&D) expenses relating to a company's efforts to develop, design, and enhance its products, and services, and processes. R&D offers a way to improve what we offer customers in terms of Contractors Design Packages, and temporary works design.
Future developments
The directors expect growth in turnover in 2025/26, and a stable profit.
Going forward all secured work has been priced to reflect all inflationary factors. The Company has protected itself from future inflationary pressures to materials through a combination of inserting cost-plus clauses with customers and securing back-to-back agreements with suppliers to fix rates for contract durations. Wage increases have flattened, and the company continues to invest in its apprentice scheme to mitigate against the impact of an aging workforce in the UK construction sector. The company owns 70% of the plant that it utilises which further eases any inflationary pressures. The company ownership altered to provide shares to senior management from the end of October 2024. This change does not impact on the management structure of the business with Jonathan Dunn remaining as the Managing Director. This change is viewed as a strengthening of the business and demonstrates the commitment of senior management to the long-term success of the business.
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J P Dunn Construction Limited
Strategic report (continued)
For the year ended 30 September 2025
This report was approved by the board and signed on its behalf.
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J P Dunn Construction Limited
Directors' report
For the year ended 30 September 2025
The directors present their report and the financial statements for the year ended 30 September 2025.
The profit for the year, after taxation, amounted to £1,211,553 (2024: £52,899).
Oridinary dividends were paid amounting to £6,693,164 (2024: £30,857). The directors do not recommend payment of a final dividend (2024: £Nil).
The directors who served during the year were:
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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J P Dunn Construction Limited
Directors' report (continued)
For the year ended 30 September 2025
The Strategic report includes information on the company’s business model, strategy, principal risks and uncertainties, and an analysis of its development, performance and position during the year. It also includes details of research and developement and future developments, which are required by the Companies Act 2006 to be disclosed in the Directors’ Report but have been included in the Strategic Report to avoid unnecessary duplication.
The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. As a result, Kreston Reeves LLP resigned as auditors on 6 October 2025 and Kreston Reeves Audit LLP were formally appointed as auditors to the company on 6 October 2025. The auditors, Kreston Reeves Audit LLP will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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J P Dunn Construction Limited
Independent auditors' report to the members of J P Dunn Construction Limited
We have audited the financial statements of J P Dunn Construction Limited (the 'Company') for the year ended 30 September 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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J P Dunn Construction Limited
Independent auditors' report to the members of J P Dunn Construction Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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 Auditors' 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
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J P Dunn Construction Limited
Independent auditors' report to the members of J P Dunn Construction Limited (continued)
Auditors' responsibilities for the audit of the financial statements (continued)
Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery, and employment law. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Health and Safety Act 1974, Construction Industry Scheme (CIS) building regulations, Companies Act 2006, pension and taxation legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as revenue and margin recognition on long-term contracts, recoverability of debtors and valuation of tangible fixed assets. Audit procedures performed by the engagement team included:
∙Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud;and
∙Assessment of identified fraud risk factors; and
∙Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and
∙Challenging assumptions and judgements made by management in its significant accounting estimates;
Performing analytical procedures to identify unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; and
∙Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
∙Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
∙Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant tax and regulatory authorities; and
∙Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control.
∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
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J P Dunn Construction Limited
Independent auditors' report to the members of J P Dunn Construction Limited (continued)
Auditors' responsibilities for the audit of the financial statements (continued)
∙Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.
∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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 Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' 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.
for and on behalf of
Statutory Auditor
London
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J P Dunn Construction Limited
Statement of comprehensive income
For the year ended 30 September 2025
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J P Dunn Construction Limited
Registered number: 03718466
Balance sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 29 form part of these financial statements.
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J P Dunn Construction Limited
Notes to the financial statements
For the year ended 30 September 2025
15.Tangible fixed assets (continued)
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J P Dunn Construction Limited
Notes to the financial statements
For the year ended 30 September 2025
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J P Dunn Construction Limited
Notes to the financial statements
For the year ended 30 September 2025
22.Deferred taxation (continued)
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J P Dunn Construction Limited
Notes to the financial statements
For the year ended 30 September 2025
Called up share capital
Revaluation reserve
Capital redemption reserve
Profit and loss account
The company operates a defined contributions 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 £32,254 (2024: £41,195). At the balance sheet date, there were no (2024: £Nil) pension amounts payable.
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J P Dunn Construction Limited
Notes to the financial statements
For the year ended 30 September 2025
The company's immediate parent company is J P Dunn Construction Holdings Limited, company incorporated in England with registered office 1st Floor, Harlequin House, 7 High Street, Teddington, United Kingdom, TW11 8EE. There is no ultimate controlling party.
On 29 October 2024, a charge was registered against the company by J Dunn and O Dunn, by way of fixed and floating charge over the plant and machinery and fixtures and fittings held at the leasehold property at Martlands Industrial Estate. A negative pledge is also in place, restricting the company from creating further charges over the same assets without prior consent.
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