Company registration number 01393410 (England and Wales)
Charles Wilson Engineers Limited
Annual Report and Financial Statements
For the year ended 30 April 2025
Charles Wilson Engineers Limited
Contents
Page
Company information
1
Strategic report
2 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 8
Statement of income and retained earnings
9
Balance sheet
10
Notes to the financial statements
11 - 20
Charles Wilson Engineers Limited
Company Information
Directors
Mr C H Gallagher
Mr D A Gallagher
Mr M G Gallagher
Mr M D Wilson
Mr G J Pollard
Mr M C Pudney
Secretary
Mr M G Gallagher
Company number
01393410
Registered office
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
Auditor
Gilberts Chartered Accountants
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
Business address
86 High Street
Harpenden
Hertfordshire
AL5 2SP
- 1 -
Charles Wilson Engineers Limited
Strategic Report
For the year ended 30 April 2025

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

Principal activities

The principal activity of the company during the year continued to be the hire of plant and machinery.

Review of business
The key financial data for the year is as follows:
2025
2024
£
£
Turnover
81,943,984
78,874,734
Gross profit
35,384,815
43,622,226
Net profit
13,826,360
22,140,097
Number of depots trading
29
29
Shareholders' funds
130,262,230
120,404,323
Principal risks and uncertainties

The principal risks and uncertainties faced by the company include the following:

- Operation in a competitive market

- Reduction in economic activity

- Impact of the current energy crisis

- Fluctuations in the value of both new and used plant

- Shortages and delays in new plant supplies

- Price changes in fuel and transportation costs

- Changes to the laws and regulations within which the c ompany operates

Future developments

The directors are not anticipating any significant changes in the company's operational activities in the coming year.

Key performance indicators

Measurement of the company's performance is consistently applied and control is exercised by company management. The company uses the following key performance indicators to evaluate its performance:

- Budgets - The company has a budgeting system in place whereby actual performance is measured against budget, both financial and non-financial, on a monthly reporting timetable.

- Daily Turnover - The company has a weekly system of reporting daily turnover compared to budget and secondly assessing the value of plant on hire comparing with the total value of hire plant owned in order to calculate the utilisation rate. The utilisation of the plant fleet is considered of paramount importance in the successful running of the company.

- Machine Counts - As a further measure to monitor utilisation, depots continue to report weekly on the number of machines on hire.

- 2 -
Charles Wilson Engineers Limited
Strategic Report (Continued)
For the year ended 30 April 2025
s172 Statement

The Board of Directors aims to drive growth and employ a business model that balances the demands of the company’s main customers with the principal risks and uncertainties faced by the businesses in which they operate.

The Board of Directors recognises that the long-term success of the company relies upon good relations with its various stakeholders including suppliers, subcontractors and customers and, with this in mind, regularly reviews its strategy and action plans to ensure expectations are being met.

Details of the company's commitment to its employees are included in the Directors' Report.

The Board of Directors is committed to operating safely in all environments and consequently has detailed and rigorous health and safety policies and procedures in place which staff are required to follow at all depots.

The Board of Directors pays particular attention to all relevant environmental legislation and requests that the c ompany’s employees are aware of their responsibilities in this regard. The c ompany supports various charities and local events.

On behalf of the board

Mr D A Gallagher
Director
7 January 2026
- 3 -
Charles Wilson Engineers Limited
Directors' Report
For the year ended 30 April 2025

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

Results and dividends

Particulars of recommended dividends are detailed in note 11 to the financial statements

Ordinary dividends were paid amounting to £250,000. The directors do not recommend payment of a further 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 C H Gallagher
Mr D A Gallagher
Mr M G Gallagher
Mr M D Wilson
Mr G J Pollard
Mr M C Pudney
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The continuing c ompany policy with regard to employee consultation and involvement is that there should be effective communication with all employees who, subject to practical and commercial considerations, should be consulted on and involved in decisions that affect their current jobs and future prospects. The achievement of this policy has to be treated flexibly in accordance with the varying circumstances and need in the c ompany but, in all cases, the emphasis is on communication at the local level.

Auditor

In accordance with the company's articles, a resolution proposing that Gilberts Chartered Accountants be reappointed as auditor of the company will be put at a General Meeting.

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

- 4 -
Charles Wilson Engineers Limited
Directors' Report (Continued)
For the year ended 30 April 2025

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.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

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.

On behalf of the board
Mr D A Gallagher
Director
7 January 2026
- 5 -
Charles Wilson Engineers Limited
Independent Auditor's Report
To the Members of Charles Wilson Engineers Limited
Opinion

We have audited the financial statements of Charles Wilson Engineers Limited (the 'company') for the year ended 30 April 2025 which comprise the profit and loss account, the balance sheet 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 FRS 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.

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.

- 6 -
Charles Wilson Engineers Limited
Independent Auditor's Report
To the Members of Charles Wilson Engineers Limited (Continued)
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
- 7 -

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.

Explanations as to what extent the audit was considered capable of detecting irregularities, including fraud
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. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed in our approach below:
•
We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation.
•
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
•
We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. There are inherent limitations in the audit procedures noted above, 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.
•
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance, miscellaneous receipts and payments testing, journal entry testing, analytical procedures and obtaining additional corroborative evidence as required. In doing so we evaluate whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
•
We recognise that 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.
Charles Wilson Engineers Limited
Independent Auditor's Report
To the Members of Charles Wilson Engineers Limited (Continued)
•
We communicated relevant key laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud and non-compliance with laws and regulations throughout the audit.

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.

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 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.

Amanda Ruggles (Senior Statutory Auditor)
For and on behalf of Gilberts Chartered Accountants, Statutory Auditor
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
7 January 2026
- 8 -
Charles Wilson Engineers Limited
Statement of Income and Retained Earnings
For the year ended 30 April 2025
2025
2024
Notes
£
£
Turnover
3
81,943,984
78,874,734
Cost of sales
(46,559,169)
(35,252,508)
Gross profit
35,384,815
43,622,226
Administrative expenses
(22,301,053)
(22,053,548)
Other operating income
442,171
401,591
Operating profit
4
13,525,933
21,970,269
Other interest receivable and similar income
8
726,677
596,078
Interest payable and similar expenses
9
(426,250)
(426,250)
Profit before taxation
13,826,360
22,140,097
Tax on profit
10
(3,718,453)
(5,639,632)
Profit for the financial year
10,107,907
16,500,465
Retained earnings brought forward
120,304,323
104,053,858
Dividends
11
(250,000)
(250,000)
Retained earnings carried forward
130,162,230
120,304,323

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

- 9 -
Charles Wilson Engineers Limited
Balance Sheet
As at 30 April 2025
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
135,586,170
119,821,351
Investments
13
3,201,105
3,201,105
138,787,275
123,022,456
Current assets
Stocks
15
1,187,368
1,331,000
Debtors
16
18,766,564
20,267,685
Cash at bank and in hand
12,157,991
13,967,268
32,111,923
35,565,953
Creditors: amounts falling due within one year
17
(23,221,011)
(22,591,709)
Net current assets
8,890,912
12,974,244
Total assets less current liabilities
147,678,187
135,996,700
Creditors: amounts falling due after more than one year
18
(8,525,000)
(8,525,000)
Provisions for liabilities
Deferred tax liability
19
8,890,957
7,067,377
(8,890,957)
(7,067,377)
Net assets
130,262,230
120,404,323
Capital and reserves
Called up share capital
21
100,000
100,000
Profit and loss reserves
130,162,230
120,304,323
Total equity
130,262,230
120,404,323
The financial statements were approved by the board of directors and authorised for issue on 7 January 2026 and are signed on its behalf by:
Mr C H Gallagher
Mr D A Gallagher
Director
Director
Mr M D Wilson
Director
Company registration number 01393410 (England and Wales)
- 10 -
Charles Wilson Engineers Limited
Notes to the Financial Statements
For the year ended 30 April 2025
1
Accounting policies
Company information

Charles Wilson Engineers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ. The principal place of business is 86 High Street, Harpenden, Hertfordshire, AL5 2SP.

1.1
Basis of preparation

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Gallagher Investments Limited. These consolidated financial statements are available from its registered office (address on page 1).

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

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 the total amount receivable by the company for goods and services provided, excluding value added tax, trade discounts and returns.

Turnover from plant hire comprises charges for the hire, rental, and maintenance of construction plant, vehicles, tools, and portable buildings and is recognised on a straight line basis over the period of the hire. Turnover from the delivery and collection of plant hire equipment is recognised when the delivery or collection has occurred. Additional turnover for wear and damage is recognised once the plant items have been returned and assessed by the company.

Turnover from the sale of consumables, ancillaries, supplies, and fuel is recognised at the time of delivery to or collection by the customer.

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.

- 11 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
1
Accounting policies
(Continued)

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:

Leasehold land and buildings
straight line over the term of the lease, or ten years if no lease
Plant and equipment
straight line over 2 to 8 years
Fixtures and fittings
straight line over 3 to 5 years
Motor vehicles
straight line over 4 to 5 years

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
Fixed asset investments

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

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price 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 fair 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

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

- 12 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
1
Accounting policies
(Continued)

Preference shares, which result in fixed returns to the holder or are mandatorily redeemable on a specific date, are classified as liabilities and measured at cost less impairment. The dividends on these preference shares are recognised in the profit and loss account as interest expense.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
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.

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.

1.11
Retirement benefits

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

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.

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 of plant, property and equipment

The Company's balance sheet comprises a significant amount representing the value of tangible fixed assets held which is dependent upon the rates of depreciation charged. To calculate depreciation assumptions are made concerning the useful lives and residual values of the assets concerned. Useful lives are calculated using assumptions about factors including maintenance costs, product lifecycles, and technological innovation. Residual values depend on assumptions including future market conditions, the remaining life of the asset, and projected disposal values.

The specific depreciation rates used can be found in these accounting policies with the amount of depreciation charged in the year and carrying value of tangible fixed assets being disclosed in the Note 12.

- 13 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Plant hire
81,943,984
78,874,734
2025
2024
£
£
Other revenue
Interest income
726,677
596,078
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of tangible fixed assets
30,441,054
28,225,648
Profit on disposal of tangible fixed assets
(13,709,743)
(21,502,963)
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
47,500
46,000
For other services
All other non-audit services
40,000
34,900
6
Employees

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

2025
2024
Number
Number
Administration
44
47
Management
14
15
Depot
313
312
Sales
14
12
Total
385
386
- 14 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
6
Employees
(Continued)

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
14,853,097
15,395,067
Social security costs
1,589,086
1,758,048
Pension costs
608,463
622,403
17,050,646
17,775,518
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
846,587
1,807,085
Company pension contributions to defined contribution schemes
40,540
40,540
887,127
1,847,625

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

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
314,460
697,278
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
627,918
596,078
Other interest income
98,759
-
0
Total income
726,677
596,078
Disclosed on the profit and loss account as follows:
Other interest receivable and similar income
726,677
596,078
- 15 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
9
Interest payable and similar expenses
2025
2024
£
£
Dividends on redeemable preference shares not classified as equity
426,250
426,250
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
1,856,863
1,920,230
Adjustments in respect of prior periods
38,009
-
0
Total current tax
1,894,872
1,920,230
Deferred tax
Origination and reversal of timing differences
1,823,581
3,719,402
Total tax charge
3,718,453
5,639,632

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
13,826,360
22,140,097
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
3,456,590
5,535,024
Tax effect of expenses that are not deductible in determining taxable profit
249,694
281,323
Change in unrecognised deferred tax assets
1,823,581
3,719,402
Adjustments in respect of prior years
38,009
-
0
Permanent capital allowances in excess of depreciation
(1,849,421)
(3,896,117)
Taxation charge for the year
3,718,453
5,639,632
11
Dividends
2025
2024
£
£
Final paid
250,000
250,000
- 16 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
12
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2024
654,459
225,748,883
3,997,061
11,822,012
242,222,415
Additions
-
0
49,389,940
-
0
2,350,212
51,740,152
Disposals
-
0
(32,069,711)
-
0
(1,189,623)
(33,259,334)
At 30 April 2025
654,459
243,069,112
3,997,061
12,982,601
260,703,233
Depreciation and impairment
At 1 May 2024
554,941
111,737,814
3,810,465
6,297,844
122,401,064
Depreciation charged in the year
40,742
28,377,230
136,516
1,886,566
30,441,054
Eliminated in respect of disposals
-
0
(26,752,859)
-
0
(972,196)
(27,725,055)
At 30 April 2025
595,683
113,362,185
3,946,981
7,212,214
125,117,063
Carrying amount
At 30 April 2025
58,776
129,706,927
50,080
5,770,387
135,586,170
At 30 April 2024
99,518
114,011,069
186,596
5,524,168
119,821,351
13
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
14
3,201,105
3,201,105
- 17 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
14
Subsidiaries

Details of the company's subsidiaries at 30 April 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
CWE HoldCo Pty Limited
Australia
Ordinary
100.00
-
CWE BidCo Pty Limited
Australia
Ordinary
0
100.00
Australian Boom and Scissor Lift Trading Pty Limited
Australia
Ordinary
0
100.00
Australian Boom and Scissor Lift Pty Limited
Australia
Ordinary
0
100.00

The registered office of all the above companies is 3 Lennox Place, Wetherill Park NSW 2164, Australia.

15
Stocks
2025
2024
£
£
Raw materials and consumables
1,113,420
1,243,728
Finished goods and goods for resale
73,948
87,272
1,187,368
1,331,000
16
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
14,606,137
16,206,144
Corporation tax recoverable
1,224,845
1,802,150
Amounts owed by group undertakings
803,987
413,016
Other debtors
72,885
33,083
Prepayments and accrued income
2,058,710
1,813,292
18,766,564
20,267,685
17
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
19,258,623
18,246,223
Taxation and social security
540,175
1,178,825
Other creditors
82,853
74,315
Accruals and deferred income
3,339,360
3,092,346
23,221,011
22,591,709
- 18 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
18
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
8,525,000
8,525,000
19
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
8,890,957
7,067,377
2025
Movements in the year:
£
Liability at 1 May 2024
7,067,377
Charge to profit or loss
1,823,580
Liability at 30 April 2025
8,890,957
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
608,463
622,403

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.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
50,000
50,000
50,000
50,000
'B Ordinary of £1 each
50,000
50,000
50,000
50,000
100,000
100,000
100,000
100,000
- 19 -
Charles Wilson Engineers Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
21
Share capital
(Continued)
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
5% Redeemable of £1 each
8,525,000
8,525,000
8,525,000
8,525,000
Preference shares classified as liabilities
8,525,000
8,525,000

The 'A' Ordinary shares carry 100% of the voting rights of the Company but the holders are not entitled to participate in the profits of the Company through dividends nor to participate in the Company's assets in excess of the paid up amount on a winding up.

The 'B' Ordinary shares do not carry any voting rights and the holders are entitled to participate in the profits of the Company through dividends and in the assets of the Company in excess of the paid up amount on a winding up.

The preference shares are non-convertible but will be redeemed at par on 30th April 2028 unless the Company or holder elects to redeem them earlier. The holders of preference shares are entitled to a fixed cumulative preferential dividend at the rate of 5% per annum payable on 30th April each year. On winding up they will receive the equivalent of the nominal amount paid up together with any arrears of the fixed dividend thereon. The preference shares do not carry any voting rights unless dividends are in arrears for more than 12 months.

22
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The c ompany was charged rent of £3,605,700 (20 2 4 - £3,554,600) by group companies.

The c ompany was charged a management charge of £3,156,000 (20 2 4 - £1,262,000) by group companies.

At the year end, the company was owed £803,988 (2024 - £413,016) by a group company.

23
Ultimate controlling party

The Directors consider that the immediate parent undertaking of the Company is Matthew Investments Limited and the ultimate parent undertaking to be Shrewsbury Holdings Limited, a company incorporated in Jersey. Copies of the accounts of Gallagher Investments Limited in which the Company is consolidated can be obtained from the registered office (address on page 1).

The following are t he parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Gallagher Investments Limited
Smallest group
Gallagher Investments Limited

- 20 -
2025-04-30 2024-05-01 false false false CCH Software CCH Accounts Production 2025.200 Mr C H Gallagher Mr D A Gallagher Mr M D Wilson Mr G J Pollard Mr M C Pudney Mr M C Pudney Mr M G Gallagher 01393410 2024-05-01 2025-04-30 01393410 bus:Director1 2024-05-01 2025-04-30 01393410 bus:Director2 2024-05-01 2025-04-30 01393410 bus:CompanySecretaryDirector1 2024-05-01 2025-04-30 01393410 bus:Director3 2024-05-01 2025-04-30 01393410 bus:Director4 2024-05-01 2025-04-30 01393410 bus:Director5 2024-05-01 2025-04-30 01393410 bus:CompanySecretary1 2024-05-01 2025-04-30 01393410 bus:Director6 2024-05-01 2025-04-30 01393410 bus:RegisteredOffice 2024-05-01 2025-04-30 01393410 2025-04-30 01393410 2023-05-01 2024-04-30 01393410 core:RetainedEarningsAccumulatedLosses 2024-04-30 01393410 core:RetainedEarningsAccumulatedLosses 2023-04-30 01393410 core:ShareCapital 2025-04-30 01393410 core:ShareCapital 2024-04-30 01393410 core:RetainedEarningsAccumulatedLosses 2025-04-30 01393410 core:RetainedEarningsAccumulatedLosses 2024-04-30 01393410 2024-04-30 01393410 core:ShareCapitalOrdinaryShareClass1 2025-04-30 01393410 core:ShareCapitalOrdinaryShareClass1 2024-04-30 01393410 core:ShareCapitalOrdinaryShareClass2 2025-04-30 01393410 core:ShareCapitalOrdinaryShareClass2 2024-04-30 01393410 core:ShareCapitalOrdinaryShares 2025-04-30 01393410 core:ShareCapitalOrdinaryShares 2024-04-30 01393410 core:ShareCapitalPreferenceShareClass1 2025-04-30 01393410 core:ShareCapitalPreferenceShareClass1 2024-04-30 01393410 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 01393410 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-04-30 01393410 core:PlantMachinery 2025-04-30 01393410 core:FurnitureFittings 2025-04-30 01393410 core:MotorVehicles 2025-04-30 01393410 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-04-30 01393410 core:PlantMachinery 2024-04-30 01393410 core:FurnitureFittings 2024-04-30 01393410 core:MotorVehicles 2024-04-30 01393410 core:LandBuildings core:LongLeaseholdAssets 2024-05-01 2025-04-30 01393410 core:PlantMachinery 2024-05-01 2025-04-30 01393410 core:FurnitureFittings 2024-05-01 2025-04-30 01393410 core:MotorVehicles 2024-05-01 2025-04-30 01393410 core:UKTax 2024-05-01 2025-04-30 01393410 core:UKTax 2023-05-01 2024-04-30 01393410 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-04-30 01393410 core:PlantMachinery 2024-04-30 01393410 core:FurnitureFittings 2024-04-30 01393410 core:MotorVehicles 2024-04-30 01393410 2024-04-30 01393410 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-05-01 2025-04-30 01393410 core:Non-currentFinancialInstruments 2025-04-30 01393410 core:Non-currentFinancialInstruments 2024-04-30 01393410 core:Subsidiary1 2024-05-01 2025-04-30 01393410 core:Subsidiary2 2024-05-01 2025-04-30 01393410 core:Subsidiary3 2024-05-01 2025-04-30 01393410 core:Subsidiary4 2024-05-01 2025-04-30 01393410 core:Subsidiary1 1 2024-05-01 2025-04-30 01393410 core:Subsidiary2 2 2024-05-01 2025-04-30 01393410 core:Subsidiary3 3 2024-05-01 2025-04-30 01393410 core:Subsidiary4 4 2024-05-01 2025-04-30 01393410 core:CurrentFinancialInstruments 2025-04-30 01393410 core:CurrentFinancialInstruments 2024-04-30 01393410 bus:OrdinaryShareClass1 2024-05-01 2025-04-30 01393410 bus:OrdinaryShareClass2 2024-05-01 2025-04-30 01393410 bus:PreferenceShareClass1 2024-05-01 2025-04-30 01393410 bus:OrdinaryShareClass1 2025-04-30 01393410 bus:OrdinaryShareClass1 2024-04-30 01393410 bus:OrdinaryShareClass2 2025-04-30 01393410 bus:OrdinaryShareClass2 2024-04-30 01393410 bus:AllOrdinaryShares 2025-04-30 01393410 bus:AllOrdinaryShares 2024-04-30 01393410 bus:PreferenceShareClass1 2025-04-30 01393410 bus:PreferenceShareClass1 2024-04-30 01393410 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 01393410 bus:FRS102 2024-05-01 2025-04-30 01393410 bus:Audited 2024-05-01 2025-04-30 01393410 bus:FullAccounts 2024-05-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP