Registered number: SC311182
30 NOVEMBER 2025
COLORADO CONSTRUCTION & ENGINEERING LIMITED
COMPANY INFORMATION
COLORADO CONSTRUCTION & ENGINEERING LIMITED
CONTENTS
COLORADO CONSTRUCTION & ENGINEERING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Directors present their Strategic Report for Colorado Construction and Engineering Limited for the year ended 30 November 2025.
Colorado Construction and Engineering Limited is a privately owned Scottish building and engineering contractor with an established reputation for delivering complex construction projects across a range of specialist sectors. The Company continues to maintain a strong financial position, underpinned by a healthy cash balance, a secured forward order book and a consistent track record of profitable trading.
The business remains wholly focused on delivering high-quality projects safely, professionally and collaboratively. This commitment has enabled the Company to build long-standing relationships with many of its core clients, several of which extend over more than twenty years. Approximately 85% of annual turnover continues to be generated from repeat business, with the balance secured through referrals, negotiated contracts and carefully selected competitive tenders.
Colorado Construction has developed recognised expertise in the design and construction of distilleries, maturation warehouses and associated whisky production facilities. Alongside this core capability, the Company has successfully delivered visitor centres, food and drink production facilities, restoration and refurbishment of Listed Buildings, and the construction and alteration of individual high-value private homes. The business also continues to expand its planned and reactive maintenance services together with its specialist small works capability.
During the year, the Company completed significant infrastructure projects for long-standing clients, including the expansion of Glen Turner Distillery and additional maturation warehousing projects. Construction also commenced on Glen Tromie Distillery on Speyside for Glasgow Whisky Company. Other notable commissions included the extension of a high-value private residence in the Scottish Borders, the restoration and modernisation of a Listed property near Drymen, together with industrial projects for AG Barr in Cumbernauld and Quaker Oats in Cupar. The Company also continued to deliver projects for Ahlstrom Munksjö, Dollar Academy and Speyside Cooperage.
Further significant heritage projects were secured during the year, including the ongoing restoration of Dalmeny House near South Queensferry, the historic home of the Earls of Rosebery since 1662.
The business remains wholly focused on delivering high-quality projects safely, professionally and collaboratively. This commitment has enabled the Company to build long-standing relationships with many of its core clients, several of which extend over more than twenty years. Approximately 85% of annual turnover continues to be generated from repeat business, with the balance secured through referrals, negotiated contracts and carefully selected competitive tenders.
Colorado Construction has developed recognised expertise in the design and construction of distilleries, maturation warehouses and associated whisky production facilities. Alongside this core capability, the Company has successfully delivered visitor centres, food and drink production facilities, restoration and refurbishment of Listed Buildings, and the construction and alteration of individual high-value private homes. The business also continues to expand its planned and reactive maintenance services together with its specialist small works capability.
During the year, the Company completed significant infrastructure projects for long-standing clients, including the expansion of Glen Turner Distillery and additional maturation warehousing projects. Construction also commenced on Glen Tromie Distillery on Speyside for Glasgow Whisky Company. Other notable commissions included the extension of a high-value private residence in the Scottish Borders, the restoration and modernisation of a Listed property near Drymen, together with industrial projects for AG Barr in Cumbernauld and Quaker Oats in Cupar. The Company also continued to deliver projects for Ahlstrom Munksjö, Dollar Academy and Speyside Cooperage.
Further significant heritage projects were secured during the year, including the ongoing restoration of Dalmeny House near South Queensferry, the historic home of the Earls of Rosebery since 1662.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
As reported in the previous Strategic Report, Colorado Group Ltd utilised retained reserves during late 2024 to acquire the majority shareholder's interest in the business.
During 2026, all remaining lending was repaid, leaving the business debt free with a strong cash position. Colorado Group Limited, the holding company for Colorado Construction, is now wholly owned by its operational directors, aligning ownership directly with those responsible for the day-to-day management and long-term development of the Company.
The Directors believe this represents an important strategic milestone, providing greater financial flexibility, strengthening the Company's balance sheet and allowing management to focus entirely on delivering long-term value for clients, employees and stakeholders.
During 2026, all remaining lending was repaid, leaving the business debt free with a strong cash position. Colorado Group Limited, the holding company for Colorado Construction, is now wholly owned by its operational directors, aligning ownership directly with those responsible for the day-to-day management and long-term development of the Company.
The Directors believe this represents an important strategic milestone, providing greater financial flexibility, strengthening the Company's balance sheet and allowing management to focus entirely on delivering long-term value for clients, employees and stakeholders.
Economic Environment
Political and economic uncertainty has continued both within the United Kingdom and internationally throughout the period. Inflationary pressures, labour availability and wider geopolitical events have continued to present challenges across the construction sector.
Despite these headwinds, the Directors consider the Company's principal markets to remain fundamentally strong. Colorado Construction's specialist expertise is closely aligned with the Scotch whisky industry, which continues to represent one of Scotland's most productive and internationally recognised sectors.
Although investment within the whisky sector moderated during 2025, the Directors remain confident that long-term demand remains positive. Recent developments, including improved international trading conditions and expanding export opportunities, are expected to support renewed investment across the sector during 2026 and beyond.
The Directors continue to monitor wider economic developments carefully and remain satisfied that the Company is well positioned to respond to changing market conditions.
Forward Workload and Business Development
The Company's secured forward workload remains strong, with significant projects already committed across its principal areas of expertise.
Colorado Construction continues to enjoy a leading position within the construction of distilleries, maturation warehouses and associated whisky production facilities, while also maintaining opportunities across the wider food and beverage manufacturing sector.
The Company continues to undertake the construction of individual high-value private homes together with the restoration and refurbishment of Listed Buildings, both of which remain important strategic markets offering attractive long-term opportunities.
Political and economic uncertainty has continued both within the United Kingdom and internationally throughout the period. Inflationary pressures, labour availability and wider geopolitical events have continued to present challenges across the construction sector.
Despite these headwinds, the Directors consider the Company's principal markets to remain fundamentally strong. Colorado Construction's specialist expertise is closely aligned with the Scotch whisky industry, which continues to represent one of Scotland's most productive and internationally recognised sectors.
Although investment within the whisky sector moderated during 2025, the Directors remain confident that long-term demand remains positive. Recent developments, including improved international trading conditions and expanding export opportunities, are expected to support renewed investment across the sector during 2026 and beyond.
The Directors continue to monitor wider economic developments carefully and remain satisfied that the Company is well positioned to respond to changing market conditions.
Forward Workload and Business Development
The Company's secured forward workload remains strong, with significant projects already committed across its principal areas of expertise.
Colorado Construction continues to enjoy a leading position within the construction of distilleries, maturation warehouses and associated whisky production facilities, while also maintaining opportunities across the wider food and beverage manufacturing sector.
The Company continues to undertake the construction of individual high-value private homes together with the restoration and refurbishment of Listed Buildings, both of which remain important strategic markets offering attractive long-term opportunities.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
Developing lasting relationships with clients, consultants and professional advisers remains central to the Company's strategy. By consistently understanding client objectives and delivering projects to the highest standards of quality, safety and professionalism, Colorado Construction continues to strengthen its reputation as a trusted construction partner. This approach has resulted in a substantial level of repeat business and provides confidence in the Company's future workload.
People and Operational Capability
The Company's continued success is underpinned by an experienced management, commercial and technical team together with a highly skilled directly employed workforce.
Colorado Construction employs specialist construction managers, engineers and site supervisors supported by quantity surveyors, finance professionals and an experienced SHEQ team. The business also maintains directly employed teams delivering general building works, maintenance, specialist painting, restoration and labour services.
In addition, the Company possesses in-house capability to undertake groundworks, drainage, infrastructure works, structural steel installation and cladding, enabling greater control over quality, programme and project delivery.
The Directors remain committed to investing in employees, promoting a collaborative culture and maintaining high levels of staff retention, recognising that the Company's people remain its greatest asset.
Geographic Reach
Operating from its headquarters in Scotland's Central Belt, Colorado Construction continues to deliver projects throughout Scotland in support of its principal client base.
While the Company's primary operational focus remains Central Scotland, projects continue to be successfully delivered across the Highlands, Islands and other remote locations where specialist expertise is required.
People and Operational Capability
The Company's continued success is underpinned by an experienced management, commercial and technical team together with a highly skilled directly employed workforce.
Colorado Construction employs specialist construction managers, engineers and site supervisors supported by quantity surveyors, finance professionals and an experienced SHEQ team. The business also maintains directly employed teams delivering general building works, maintenance, specialist painting, restoration and labour services.
In addition, the Company possesses in-house capability to undertake groundworks, drainage, infrastructure works, structural steel installation and cladding, enabling greater control over quality, programme and project delivery.
The Directors remain committed to investing in employees, promoting a collaborative culture and maintaining high levels of staff retention, recognising that the Company's people remain its greatest asset.
Geographic Reach
Operating from its headquarters in Scotland's Central Belt, Colorado Construction continues to deliver projects throughout Scotland in support of its principal client base.
While the Company's primary operational focus remains Central Scotland, projects continue to be successfully delivered across the Highlands, Islands and other remote locations where specialist expertise is required.
Health, safety & environment
Health, safety and environmental performance remain fundamental to every aspect of the Company's operations.
Colorado Construction maintains a dedicated in-house Safety, Health, Environment and Quality (SHEQ) team supported by established management systems designed to promote continual improvement and ensure compliance with all relevant legislation and industry best practice.
The Company continues to hold a number of independently assessed accreditations, including SafeContractor, CHAS, Constructionline and the RoSPA Silver Award, providing assurance to clients that robust management systems and high operational standards remain embedded throughout the business.
Health, safety and environmental performance remain fundamental to every aspect of the Company's operations.
Colorado Construction maintains a dedicated in-house Safety, Health, Environment and Quality (SHEQ) team supported by established management systems designed to promote continual improvement and ensure compliance with all relevant legislation and industry best practice.
The Company continues to hold a number of independently assessed accreditations, including SafeContractor, CHAS, Constructionline and the RoSPA Silver Award, providing assurance to clients that robust management systems and high operational standards remain embedded throughout the business.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Company has maintained a strong record of profitability throughout its history, with only one exceptional loss arising in 2018 on a single project.
Colorado Construction continued to deliver a strong financial performance during the year, generating a gross turnover of approximately £22.2 million and achieving a net profit before taxation of approximately £490,000.
The Directors remain satisfied that the Company's strategy of prioritising sustainable, profitable work over turnover growth continues to deliver positive results.
The principal financial performance indicators monitored by the Directors remain turnover, gross margin, profitability, cash generation and liquidity, all of which continue to demonstrate the underlying strength of the business.
Colorado Construction continued to deliver a strong financial performance during the year, generating a gross turnover of approximately £22.2 million and achieving a net profit before taxation of approximately £490,000.
The Directors remain satisfied that the Company's strategy of prioritising sustainable, profitable work over turnover growth continues to deliver positive results.
The principal financial performance indicators monitored by the Directors remain turnover, gross margin, profitability, cash generation and liquidity, all of which continue to demonstrate the underlying strength of the business.
The principal risks facing the Company continue to include supply chain resilience, inflationary cost pressures, labour availability and wider economic uncertainty.
The Directors actively manage these risks through disciplined project selection, careful contract management, regular financial forecasting, strong cash management and the maintenance of long-established relationships with key suppliers, subcontractors and clients.
The ongoing geopolitical uncertainty associated with international conflict continues to present broader economic risks. Whilst the Directors do not currently anticipate any direct operational impact upon the Company, wider economic consequences continue to be monitored closely.
The Directors remain confident that Colorado Construction is well positioned to manage these challenges through its strong financial position, experienced management team, established customer relationships and carefully secured forward workload.
The Directors actively manage these risks through disciplined project selection, careful contract management, regular financial forecasting, strong cash management and the maintenance of long-established relationships with key suppliers, subcontractors and clients.
The ongoing geopolitical uncertainty associated with international conflict continues to present broader economic risks. Whilst the Directors do not currently anticipate any direct operational impact upon the Company, wider economic consequences continue to be monitored closely.
The Directors remain confident that Colorado Construction is well positioned to manage these challenges through its strong financial position, experienced management team, established customer relationships and carefully secured forward workload.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
Colorado Construction and Engineering Limited enters the forthcoming financial year in a strong position.
The Company benefits from a loyal client base, a substantial secured workload, a highly experienced workforce and an excellent reputation for delivering complex, high-quality construction projects across Scotland.
The Directors believe that continued investment in long-term client relationships, operational excellence and specialist expertise will enable the business to build upon its successful track record and continue generating sustainable, profitable growth.
The Board remains confident in the Company's future prospects and expects Colorado Construction to continue delivering successful outcomes for its clients while maintaining its strong financial performance in the years ahead.
The Company benefits from a loyal client base, a substantial secured workload, a highly experienced workforce and an excellent reputation for delivering complex, high-quality construction projects across Scotland.
The Directors believe that continued investment in long-term client relationships, operational excellence and specialist expertise will enable the business to build upon its successful track record and continue generating sustainable, profitable growth.
The Board remains confident in the Company's future prospects and expects Colorado Construction to continue delivering successful outcomes for its clients while maintaining its strong financial performance in the years ahead.
This report was approved by the board and signed on its behalf.
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COLORADO CONSTRUCTION & ENGINEERING 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 £569,113 (2024 - £873,941).
The Directors declared a dividend of £Nil in the current year (2024 - £1,600,000).
The directors who served during the year were:
Going into 2026 and 2027, the Company continues to secure major projects in its areas of expertise including distilleries, maturation warehouses and other drinks and food production facility construction projects. The Company continues to undertake the construction of individual high-value private homes together with the restoration and refurbishment of Listed Buildings, both of which remain important strategic markets offering attractive long-term opportunities. The board will continue to develop lasting relationships with clients, consultants and professional advisers. By consistently understanding client objectives and delivering projects to the highest standards of quality, safety and professionalism, Colorado Construction continues to strengthen its reputation as a trusted construction partner.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Company's business review and principal activities, principal risks and uncertainties and key financial performance indicators are disclosed within the Strategic Report.
Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING LIMITED
We have audited the financial statements of Colorado Construction & Engineering Limited (the 'Company') for the year ended 30 November 2025, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, 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).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING 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 laws and regulations, was as follows:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company to identify or recognise non-compliance with applicable laws and regulations.
∙we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation;
∙we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships;
∙tested journal entries recorded on the Company’s finance system to identify unusual transactions that may indicate override of controls;
∙reviewed key judgements and estimates for any evidence of management bias.
∙reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation and
∙enquiring of management to identify actual and potential litigation and claims.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLORADO CONSTRUCTION & ENGINEERING LIMITED (CONTINUED)
Due 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, as with any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditors
Glasgow
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
REGISTERED NUMBER: SC311182
STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 31 form part of these financial statements.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Colorado Construction & Engineering Limited is a private company limited by shares registered in
Scotland. Registered number SC311182. The Company's registered office and principal place of business is Colorado House, 11 Caputhall Road, Deans Industrial Estate, Deans, Livingston, EH54 8AS.
Scotland. Registered number SC311182. The Company's registered office and principal place of business is Colorado House, 11 Caputhall Road, Deans Industrial Estate, Deans, Livingston, EH54 8AS.
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 Company's functional and presentational currency is GBP and amounts are rounded to the nearest £.
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 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Colorado Group Limited as at 30 November 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
In making their going concern assessment the Directors have prepared financial forecasts which cover a period of at least 12 months from the date of signing of the financial statements. These show that the business is expected to have sufficient cash reserves to meet its liabilities as they fall due for a period of at least 12 months from the date of signing of the financial statements. Therefore, the Directors consider it appropriate to prepare the financial statements on a going concern basis.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
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.
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COLORADO CONSTRUCTION & ENGINEERING 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 the straight-line method.
Depreciation is provided on the following basis:
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.
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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COLORADO CONSTRUCTION & ENGINEERING 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.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
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.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Where contractual obligations are performed gradually over time, the revenue is recognised as contract activity progresses to reflect the partial performance of these obligations.
The progress of the contract is determined through monthly site surveys attended by representatives of the company and the specific customer at which measurements are taken and agreed between the two parties.
The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to the value of the work performed.
The progress of the contract is determined through monthly site surveys attended by representatives of the company and the specific customer at which measurements are taken and agreed between the two parties.
The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to the value of the work performed.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The calculation of accruals and provisions contains an inherent level of subjectivity. The Directors consider that the current level of accruals and provisions represents the best estimate of the likely exposure. Key judgements are also made regarding the valuation of construction projects at the year end, which impacts revenue, where agreed third party valuations are performed in advance of this date. The Directors consider that internal valuations of the work performed in this period are accurate given the experience of and knowledge of the quantity surveyors employed.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Profit and loss account
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Company makes payments to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £517,888 (2024 -£296,240). Contributions totalling £245,925 (2024 - £Nil) were payable to the fund at the reporting date and are included in creditors.
During the year, the Company made advances of £13,000 (2024: £60,000) to Directors. At the year end, the Company was due £7,832 (2024: £Nil) from Directors. £5,617 was repaid in the current year and these advances are interest free and repayable on demand.
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COLORADO CONSTRUCTION & ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Company's immediate and ultimate parent undertaking is Colorado Group Limited , a company registered in Scotland, which is the smallest and largest group of companies for which group financial statements are prepared. Colorado Group Limited's registered office and principal place of business is Colorado House, 11 Caputhall Road, Deans Industrial Estate, Deans, Livingston, EH54 8AS . Copies of the financial statements of Colorado Group Limited are available to the public from Companies House, Crown Way, Cardiff, CF14 3UZ,
In the opinion of the Directors, J P Bownes & G W Gibson are the Company's controlling party by virtue of their joint majority shareholding in the parent undertaking.
In the opinion of the Directors,
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