Company registration number 4020568 (England and Wales)
TAY-DAL SURFACING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2025
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
TAY-DAL SURFACING LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 9
Statement of income and retained earnings
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13 - 23
TAY-DAL SURFACING LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr W Dale
Mr S Dale
Mr K Taylor
Secretary
Mr W Dale
Company number
4020568
Registered office
Unit D Devon Suite
Dencora Business Centre
36 Whitehouse Road
Ipswich
IP1 5LT
Auditor
TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
TAY-DAL SURFACING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -

The directors present the strategic report for the year ended 30 April 2025.

Review of the business

Tay-Dal Surfacing Limited has established a strong foothold in the market, offering high-quality services that prioritize durability, efficiency and customer satisfaction. With a proven track record of delivering exceptional results, we continue to expand our client base and strengthen our reputation as a trusted industry leader.

Principal risks and uncertainties

- Market Volatility: Fluctuations in demand for road surfacing services due to economic conditions, government funding, and infrastructure projects could impact revenue streams.

- Supply Chain Disruptions: Dependencies on suppliers for materials like asphalt, concrete, and machinery poses risks of delays or price hikes, affecting project timelines and profitability.

- Regulatory Compliance: Changes in environmental regulations, safety standards, or licensing requirements could lease to additional costs, operational adjustments, or penalties if not adhered to adequately.

- Competition: Intense competition within the road surfacing industry could exert pressure on pricing, margins, and market share, necessitating strategic differentiation and efficiency improvements.

- Technological Advances: Rapid advancements in road surfacing technologies, such as eco-friendly materials or innovate application methods, may require continuous investment in research and development to stay competitive.

- Labour Shortages and Skill Gaps: Difficulty in attracting and retaining skilled labour may impact project execution and quality, leading to increased costs or delays.

- Weather Dependencies: Adverse weather conditions, such as heavy rainfall or extreme temperatures, can disrupt project schedules, extend completion times, and increase operational costs.

- Natural Disasters and Force Majeure Events: Unforeseen events such as pandemics may disrupt operations and pose significant challenges in maintaining business community.

Development and performance

During the review period, Tay-Dal Surfacing Limited continued to solidify its position as a leader in the road surfacing industry, achieving client satisfaction and a strong financial performance.

Key strategies

- Invest in innovative surfacing technologies to enhance efficiency, durability, and environmental sustainability.

- Embrace advancements such as recycled materials, eco-friendly additives, and automated processes to stay ahead of the competition.

- Forge strategic partnerships with supplies, contractors, and government agencies to access new markets and project opportunities.

- Implement lean management practices to optimize operational processes and minimize costs without compromising quality.

Financial Outlook

The company remains financially robust with healthy profit margins. By adhering to prudent financial management principles and making strategic investments in technology, infrastructure, and human capital, we are well-positioned to sustain profitability and drive long-term value for stakeholders.

TAY-DAL SURFACING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

On behalf of the board

Mr W Dale
Director
21 January 2026
TAY-DAL SURFACING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of asphalters.

Results and dividends

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £728,000. The directors do not recommend payment of a final dividend.

Directors

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

Mr W Dale
Mr S Dale
Mr K Taylor
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

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

- select suitable accounting policies and then apply them consistently;

- make judgements 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 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.

Statement of disclosure to auditor

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

TAY-DAL SURFACING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
Medium-sized companies exemption

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

On behalf of the board
Mr W Dale
Director
21 January 2026
TAY-DAL SURFACING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TAY-DAL SURFACING LIMITED
- 6 -
Opinion

We have audited the financial statements of Tay-Dal Surfacing Limited (the 'company') for the year ended 30 April 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

TAY-DAL SURFACING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TAY-DAL SURFACING LIMITED
- 7 -

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport 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.

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 identifie d material misstatements in the strategic report or the directors' r eport.

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

Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

TAY-DAL SURFACING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TAY-DAL SURFACING LIMITED
- 8 -

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

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 (irregularities) 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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

TAY-DAL SURFACING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TAY-DAL SURFACING LIMITED
- 9 -

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

Simon Garner FCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
22 January 2026
Office: Colchester
TAY-DAL SURFACING LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
2025
2024
Notes
£
£
Turnover
12,373,608
13,548,000
Cost of sales
(9,939,786)
(10,953,682)
Gross profit
2,433,822
2,594,318
Administrative expenses
(1,657,174)
(1,600,912)
Other operating income
2,573
97
Exceptional item
3
222,328
-
0
Operating profit
4
1,001,549
993,503
Interest payable and similar expenses
7
(81)
(4,546)
Profit before taxation
1,001,468
988,957
Tax on profit
8
(202,720)
(248,962)
Profit for the financial year
798,748
739,995
Retained earnings brought forward
4,384,280
4,372,285
Dividends
9
(728,000)
(728,000)
Retained earnings carried forward
4,455,028
4,384,280

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

TAY-DAL SURFACING LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,586,926
1,668,004
Current assets
Stocks
11
18,030
19,948
Debtors
12
2,865,467
2,846,805
Cash at bank and in hand
2,253,120
2,793,235
5,136,617
5,659,988
Creditors: amounts falling due within one year
13
(1,997,503)
(2,430,945)
Net current assets
3,139,114
3,229,043
Total assets less current liabilities
4,726,040
4,897,047
Provisions for liabilities
Provisions
15
-
0
222,328
Deferred tax liability
16
271,010
290,437
(271,010)
(512,765)
Net assets
4,455,030
4,384,282
Capital and reserves
Called up share capital
18
2
2
Profit and loss reserves
4,455,028
4,384,280
Total equity
4,455,030
4,384,282

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

The financial statements were approved by the board of directors and authorised for issue on 21 January 2026 and are signed on its behalf by:
Mr W Dale
Director
Company registration number 4020568 (England and Wales)
TAY-DAL SURFACING LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
958,861
1,400,879
Interest paid
(81)
(4,546)
Income taxes paid
(264,782)
(288,400)
Net cash inflow from operating activities
693,998
1,107,933
Investing activities
Purchase of tangible fixed assets
(312,355)
(1,104,078)
Proceeds from disposal of tangible fixed assets
31,900
189,500
Net cash used in investing activities
(280,455)
(914,578)
Financing activities
Payment of finance leases obligations
(225,658)
237,150
Dividends paid
(728,000)
(728,000)
Net cash used in financing activities
(953,658)
(490,850)
Net decrease in cash and cash equivalents
(540,115)
(297,495)
Cash and cash equivalents at beginning of year
2,793,235
3,090,730
Cash and cash equivalents at end of year
2,253,120
2,793,235
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 13 -
1
Accounting policies
Company information

Tay-Dal Surfacing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit D Devon Suite, Dencora Business Centre, 36 Whitehouse Road, Ipswich, IP1 5LT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Where a contract is incomplete at the balance sheet date and the outcome of the contract can be estimated reliably, revenue is recognised by reference to the stage of completion of the contract activity at the reporting end date.

When is is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a contract cannot be estimates reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recovered. Contract costs are recognised as expenses in the period in which they are incurred.

The 'percentage of completion' method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs, Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation on land
Improvements to property
15% reducing balance
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 15 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 16 -
1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12

Retentions

Retentions have been recognised according to the amounts expected to be received by the company after deducting any costs likely to be incurred in recovering such amounts.

2
Judgements and key sources of estimation uncertainty

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

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

During the year the following estimates were required.

TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 17 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

The charge in respect of depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. The estimates are based on historical experience of the useful life of similar assets.

Recognition of income from retentions

In common with many businesses in the construction sector, many of the company's customers retain a proportion of sales revenue for a period of at least twelve months in case remedial work is required. The company recognises these retentions based on their expectation of recovery of the amounts using experience gained from previous periods. At the balance sheet date the company has recognised retentions amounting to £175,931 (2024: £154,209) and these amounts are included in debtors.

3
Exceptional item
2025
2024
£
£
Income
Release of provision
(222,328)
-

A provision was previously recognised in relation to a HMRC suspended penalty. The directors consider the conditions of the suspended penalty to have been met and the provision no longer payable.

4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
15,700
10,800
Depreciation of owned tangible fixed assets
374,984
401,592
Profit on disposal of tangible fixed assets
(13,451)
(25,397)
Operating lease charges
945
1,050
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
5
Employees

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

2025
2024
Number
Number
Office and administration
7
8
Directors
3
3
Direct labour
35
34
Total
45
45

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,011,502
1,876,988
Social security costs
215,570
203,037
Pension costs
61,227
52,631
2,288,299
2,132,656
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
113,683
118,707
Company pension contributions to defined contribution schemes
20,740
5,486
134,423
124,193

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 2).

7
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
81
4,546
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
222,147
79,600
Deferred tax
Origination and reversal of timing differences
(19,427)
169,362
Total tax charge
202,720
248,962

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

2025
2024
£
£
Profit before taxation
1,001,468
988,957
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
250,367
247,239
Tax effect of expenses that are not deductible in determining taxable profit
619
1,723
Tax effect of income not taxable in determining taxable profit
(48,266)
-
0
Taxation charge for the year
202,720
248,962
9
Dividends
2025
2024
£
£
Interim paid
728,000
728,000
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 20 -
10
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 May 2024
450,077
120,186
1,631,377
17,777
61,541
1,380,070
3,661,028
Additions
-
0
1,799
181,819
4,540
-
0
124,197
312,355
Disposals
-
0
-
0
(32,766)
-
0
-
0
(147,461)
(180,227)
At 30 April 2025
450,077
121,985
1,780,430
22,317
61,541
1,356,806
3,793,156
Depreciation and impairment
At 1 May 2024
-
0
92,240
1,005,238
8,831
45,591
841,124
1,993,024
Depreciation charged in the year
-
0
4,461
201,679
3,372
3,988
161,484
374,984
Eliminated in respect of disposals
-
0
-
0
(31,528)
-
0
-
0
(130,250)
(161,778)
At 30 April 2025
-
0
96,701
1,175,389
12,203
49,579
872,358
2,206,230
Carrying amount
At 30 April 2025
450,077
25,284
605,041
10,114
11,962
484,448
1,586,926
At 30 April 2024
450,077
27,946
626,139
8,946
15,950
538,946
1,668,004
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
10
Tangible fixed assets
(Continued)
- 21 -

In the opinion of the Directors, the majority of the value recorded under Freehold land and buildings relates to land and so no depreciation has been charged.

11
Stocks
2025
2024
£
£
Finished goods and goods for resale
18,030
19,948
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,490,539
2,417,722
Other debtors
250,144
287,307
Prepayments and accrued income
124,784
141,776
2,865,467
2,846,805
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
14
11,492
237,150
Trade creditors
1,611,807
1,817,563
Corporation tax
222,127
264,762
Other taxation and social security
44,206
43,947
Other creditors
4,357
3,725
Accruals and deferred income
103,514
63,798
1,997,503
2,430,945
14
Finance lease and hire purchase obligations
2025
2024
Future minimum lease payments due under finance leases and hire purchase contracts:
£
£
Within one year
11,492
237,150
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 22 -
15
Provisions for liabilities
2025
2024
£
£
Other Provisions
-
222,328
16
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
271,010
290,437
2025
Movements in the year:
£
Liability at 1 May 2024
290,437
Credit to profit or loss
(19,427)
Liability at 30 April 2025
271,010
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
61,227
52,631

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
TAY-DAL SURFACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 23 -
19
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
798,748
739,995
Adjustments for:
Taxation charged
202,720
248,962
Finance costs
81
4,546
Gain on disposal of tangible fixed assets
(13,451)
(25,397)
Depreciation and impairment of tangible fixed assets
374,984
401,592
Decrease in provisions
(222,328)
-
Movements in working capital:
Decrease/(increase) in stocks
1,918
(7,895)
(Increase)/decrease in debtors
(18,662)
324,368
Decrease in creditors
(165,149)
(285,292)
Cash generated from operations
958,861
1,400,879
20
Analysis of changes in net funds
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
2,793,235
(540,115)
2,253,120
Obligations under finance leases
(237,150)
225,658
(11,492)
2,556,085
(314,457)
2,241,628
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