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Registered number:
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
COMPANY INFORMATION
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CONISTON LIMITED
CONTENTS
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CONISTON LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The directors present their strategic report accompanying the financial statements for the year ended 30 November 2025.
The company has seen positive growth during our 44th financial year. Our annual turnover has increased from £35.3m to £42.9m accompanied by a correlating healthy profit margin.
Over the past two years we have successfully made key appointments to the Coniston director team. Andrew Wildgoose has moved away from the business after relocating with his family & Gary Evans has retired. This has given us the opportunity to promote John Martin to the role of Finance Director & strategically recruit Rhys Sumpton, as well as promoting others within to key senior management roles. Despite industry and worldwide challenges this past year has been another great success, building on the strong financial position from previous years. Key factors are remaining cash positive, maintaining excellent client relationships transpiring to a strong pipeline of work. As well as maintaining our position on key frameworks we have successfully added new agreements to these providing a stable pipeline of both negotiated and tendered opportunities. By maintaining relationships with clients and industry professionals we continue to secure targeted tendered and negotiated contracts. We continue to review business process and procedures; this enables us to identify opportunities making us more efficient and agile in our sector. These small gains in efficiency can be reflected in our tenders giving us the ability to be more competitive. Having opened a central London office in 2024, this has become a key cornerstone of the Coniston business and created a great sense of togetherness and collaboration across our teams as well as recruitment from a wider pool of staff. This year we have formally nominated this central London location as our Head Office, whilst maintaining other office locations. We always will continue to value our staff our greatest asset and continue to invest heavily in staff training and development which ensures low levels of staff turnover. The company has maintained its relationships with recruiting placement students and graduates to futureproof the workforce, as well as key strategic recruitment of experienced staff as required.
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CONISTON LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
The business has identified numerous risks which are being monitored closely by the board, primarily:
Securing of Future Contracts: As per previous years, it is important to ensure the opportunities are correct for the business requirements and only entered into when risks have been fully evaluated, and on agreeable terms by all. Escalating Costs: Over the past year we have seen a decline in availability of skilled labour, as well as a shortage of apprentices entering the industry. Significant numbers of skilled labour have relocated away from the UK correlating with uncertainty in the world environment. Whilst material costs have not escalated as frequently as previous years, the current global conflicts are likely to impact fuel, raw material, and manufacturing costs, this must be closely monitored, especially in respect of fixed cost contracts and the long durations of higher value contracts. Sub-Contractor / Supply Chain We continue to monitor our supply chain, competitors, and wider construction organisations who have suffered financial losses and business failure, which has a wider impact on the industry.
Key Performance Indicators are monitored closely by the board including, Turnover, Gross Profit and Overhead costs with monthly management accounts analysed and discussed.
The board remain confident that close monitoring of the management accounts will enable us to further enhance our profitability and grow the business.
No other key performance indicators are used.
This report was approved by the board and signed on its behalf.
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CONISTON LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The directors present their report and the financial statements for the year ended 30 November 2025.
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.
The profit for the year, after taxation, amounted to £1,592,973 (2024 - £1,739,798).
Dividends of £975,081 have been declared and paid during the year (2024 - £693,777).
The directors who served during the year were:
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CONISTON LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
The directors are always looking to improve the profitability of the company. They are looking to identifying niche markets that the company can add to the existing profile to enhance the services they provide to their customers.
There have been no significant events affecting the company since the year end.
The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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CONISTON LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON LIMITED
We have audited the financial statements of Coniston Limited (the 'company') for the year ended 30 November 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.
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CONISTON LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON LIMITED (CONTINUED)
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.
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.
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CONISTON LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON LIMITED (CONTINUED)
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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the construction sector which the company operates in;
∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows;
°Companies Act 2006
°FRS102
°Health and Safety legislation
°Employment legislation
°Tax legislation
∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting relevant correspondence; and
∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulations were identified. The audit team remained alert to instances of non-compliance throughout the audit.
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CONISTON LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON LIMITED (CONTINUED)
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;and
∙Reviewing the financial statements and testing the disclosures against supporting documentation
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates, including amounts recoverable on long term contracts, work in progress and the useful economic lives of tangible fixed assets, were indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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CONISTON LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CONISTON LIMITED (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditor
Charles Lake House
Claire Causeway
Crossways Business Park
Kent
DA2 6QA
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CONISTON LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
REGISTERED NUMBER: 01688008
BALANCE SHEET
AS AT 30 NOVEMBER 2025
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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CONISTON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2025
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Coniston Limited is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Dover Street, London, England, W1S 4NL. The company's principal activity during the year under review continued to be that of construction projects.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Coniston Holdings Limited as at 30 November 2025 and these financial statements may be obtained from Collingwood House, Schooner Court, Crossways, Dartford, Kent, DA2 6QQ.
The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under UK law and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The directors have concluded that there are no significant uncertainities that would impact the company's going concern status for the next 12 months. These financial statements have been prepared on a going concern basis.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Revenue from a contract to provide property and civil engineering services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the company will receive the consideration due under the contract; • the stage of completion of the contract at the end of the reporting period can be measured reliably; • the costs incurred and the costs to complete the contract can be measured reliably; and • where the contract outcome cannot be measured reliably, revenue is recognised only to the extent of the expense recognised that are recoverable.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight-line and reducing balance methods.
Depreciation is provided on the following base:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Amounts recoverable on long-term contracts, which are included in debtors, are stated at net sales value of work done after provisions for contingencies and anticipated future losses on contacts, less amounts received as progress payments on account. Where such amounts have been received and exceed amounts recovered, the net amounts are included in creditors as payments on account.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
The estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are addressed below. Depreciation and residual values The directors have reviewed the asset lives and associated residual values of all the fixed assets and have concluded the asset lives and residual values are appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a anumber of factors. In re-assessing assets lives, factors such as technological innovations, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and project disposal values. Recoverability of Debtors Trade and other debtors are recognised to the extent that they are judged recoverable. Provisions are made specifically against invoices where recoverability is uncertain. Management makes allowances for doubtful debts on an assessment of the recoverability of debtors. Work in progress (and Amounts Recoverable on Long-term contracts) The company uses qualified third party quantity surveyors to value projects and calculate the amount that the company bill the client. If management disagree with the valuation from the surveyors, the valuation will be challenged and the client is only billed when the valuation has been agreed. All income and costs recorded on the surveyor's valuation which are not yet invoiced at the year end are provided for by means of an accrual. The directors are required to make an assessment with regard to the future costs the company is likely to incur so as to fulfil its obligation under contracts, including remedial work necessary to guarantee the release of retention balances. Only specific provisions against contracts where such a provision is required or where specific remedial work is required are recognised. No general provisions are recognised.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Obligations under finance leases and hire purchase contracts are secured against assets to which they relate.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Capital redemption reserve
Profit and loss account
The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the fund and amounted to £263,651 (2024 - £289,922). Contributions totalling £54,350 (2024 - £75,646) were payable to the fund at the balance sheet date and are included in other creditors.
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CONISTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
The ultimate parent company is Coniston Holdings Limited. Coniston Holdings Limited produces consolidated financial statements incorporating the results of Coniston Limited which can be obtained from the registered office address, Collingwood House, Schooner Court, Crossways, Dartford, Kent, DA2 6QQ.
The ultimate controlling party is Mr J P Rathbone and family through a majority shareholding.
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