| A G Wilson Limited |
|
| Strategic Report |
|
| Year ended 30 April 2026 |
|
| Introduction |
| The directors presents their strategic report of the company for the year ended 30 April 2026. |
|
| Review of the business |
| The principal activities of the company is that of civil engineering, marine construction and fusion welding services. |
|
| Results and Performance |
| Our aim is to present a complete and balanced review of the development and performance of our company during the year and its position at the year end. Our review is consistent with the size and nature of the company. |
|
| The directors are pleased to report another profitable year. |
|
| The company had a solid financial position at the year end with net assets of £10,355,199 (2025: £8,469,898) and net current assets of £1,769,287 (2025: £3,239,829). |
|
| Key performance indicators |
| The directors monitor the progress of the company by reference to the following key performance indicators: |
|
2026 |
2025 |
|
| Turnover |
£25,111,621 |
£24,524,426 |
|
| Gross profit |
£5,784,808 |
£3,996,315 |
|
| Gross margin |
23.0% |
16.3% |
|
| Profit before tax |
£3,554,365 |
£2,412,335 |
|
| EBITDA |
£4,657,594 |
£3,206,003 |
|
| Business environment |
| Over the last 40 years, our business has diversified within the industry to satisfy customer demand. As detailed above our three primary work categories are civil engineering, marine construction and fusion welding services. The company's four decades of practice have resulted in a solid foundation of technical expertise resulting from experience and the dedication of our diverse staff to approach each project with integrity. |
|
| A G Wilson Limited has received a wide range of Awards in our 40 year history as a civil engineering contractor. In the past year these have included three 2025 Plant & Civil Engineer Awards and the ROSPA Gold Award. |
|
| The three wins at the 2025 Plant & Civil Engineer Awards were in the following categories: |
|
| - Health & Safety |
| - Construction Project of the Year |
| - Top Team of the Year |
|
| In addition, A G Wilson Limited has been short listed as a finalist in two categories at the 2026 Construction Excellence Awards, hosted by the Construction Employers Federation. These categories include: |
|
| - Project above £10m |
| - Project below £10m |
|
| A G Wilson Limited has also been nominated for three Responsible Business Awards in advance of the ceremony which will take place in September 2026: |
|
| - Responisble Business Ambassador Award - Richard Chambers |
| - Employer of Choice Award |
| - Wellbeing at Work Award |
|
| These short lists are testament to the team's commitment to quality, innovation, sustainability, and the wellbeing of the company employees. |
|
| Principal risks and uncertainties |
| The process of risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and ongoing review by management. Compliance with regulation, legal and ethical standards is a high priority for the company and the directors take on an important oversight in this regard. |
|
| Financial risk management objectives and policies |
| The main risks arising from the company's financial instruments are liquidity risk and interest rate risk. The directors review and agree policies for managing each of these risks and they are summarised below. |
|
| Liquidity risk |
| The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. The company's policy throughout the year has been to ensure continuity of funding by matching the source of funds to the intended use of those funds. Short term flexibility is achieved through the company's overdraft facility. |
|
| Interest rate risk |
| The company seeks to finance its operations through a mixture of retained profits, cash and bank loans. The company has negotiated competitive loan rates and the exposure to interest rate fluctuations is therefore minimal. |
|
| Strategy and future development |
| The directors are committed to long term creation of shareholder value and continue to concentrate on achieving maximum growth in its market sector while at the same time continuing to improve efficiency in all areas of its operations. |
|
| Early results for the forthcoming year are encouraging and the directors expect another year of progress. |
|
| This report was approved by the board of directors on 14 August 2026 and signed on behalf of the board by: |
|
|
|
| Mr Richard Chambers |
| Director |
|
| Registered office: |
| 8 Upper Ballydugan Road |
| Portadown |
| Co Armagh |
| BT63 5NU |
|
|
| 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 director is 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 the audit: |
|
| ● |
the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| ● |
the strategic report and the director's report have been prepared in accordance with applicable legal requirements. |
|
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report. |
| We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
| ● |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| ● |
the financial statements are not in agreement with the accounting records and returns; or |
| ● |
certain disclosures of directors’ remuneration specified by law are not made; or |
| ● |
we have not received all the information and explanations we require for our audit. |
|
| Responsibilities of directors |
| As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends 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. |
|
| Explanation 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. The objectives of our audit in respect of fraud are to identify and assess the risk of material misstatement of the financial statements due to fraud through designing and implementing appropriate responses to those assessed risks abd to respond appropriately to instances of fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company. |
|
|
| Identifiying and assessing potential risks related to irregularities |
| In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, wwe considered the following: |
|
- the nature of the industry and sector, control environment and business performance;
- the company's own assessment of the risks that irregularities may occur either as a result of fraud or error;
- results of our enquiries of management and other key persons about their own identification and assessment of the risks of irregularities;
- any m atters we identified having obtained the company's documentatiion of their policies and procedures relating to:
- identifying, evakuated and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and reulations; and
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
|
|
| As a result of these procedures, we considered opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
|
| We also obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006 , International Financial Reporting Standards and UK taxation legislation. |
|
| Audit response to risks identified |
| Our procedures to respond to potential risks include the following: |
|
- reviewing the financial statement disclosures and testing to supporting documentation to assess the compliance with provision of the most significant laws and regulations;
- contacting company solicitors and enquiry of management regarding any actual or potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reviewing correspondence with HMRC; and
- to address the risk of fraud through maangement override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal couse of business. |
|
| A G Wilson Limited |
|
| Notes to the Accounts |
|
| Year ended 30 April 2026 |
|
| 1 |
General information |
|
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 8 Upper Ballydugan Road, Portadown, County Armagh, BT63 5NU. The principal activities of the company are that of civil engineering, marine construction and fusion welding services. |
|
| 2 |
Statement of compliance |
|
These financial statements have been prepared in compliance with FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
|
| 3 |
Summary of significant accounting policies |
|
|
Basis of preparation |
|
The financial statements have been prepared under the historical cost basis , as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the profit and loss. |
|
|
The financial statements are prepared in sterling, which is the functional currency of the entity. |
|
|
The significant accounting policies applied in preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
|
|
Revenue recognition |
|
Turnover is measured at the fair value of the consideration received or receivable for goods supplied or services rendered, net of discounts and Value Added Tax. |
|
|
Income tax |
|
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. |
|
|
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. |
|
|
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Tangible assets |
|
Motor vehicles |
20% straight line |
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. |
|
|
Judgements and key sources of estimation uncertainty |
|
The preparation of the financial statements requires management to make judgements, estimates and assumptions that reflect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
|
|
In preparing these financial statements, the directors have made the following judgements: |
|
|
- Determine whether leases entered into the by company either as a lessor or lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. |
|
|
- Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset. |
|
|
Hire purchase and finance leases |
|
Assets held under finance leases ae recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
|
|
Lease payments are apportioned between the finance charges and the reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. |
|
|
Impairment of fixed assets |
|
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
|
|
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. |
|
|
Trade and other debtors |
|
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment. |
|
|
Cash and cash equivalents |
|
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term high liquidity investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. |
|
|
Trade and other creditors |
|
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of the discounting would be immaterial, in which case they are stated at cost. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs and an appropriate allocation of production overheads, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. |
|
|
Provisions |
|
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. |
|
|
Provisions are initially measured at the best estimate of the amount requires to settle the obligation at the reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period it arises. |
|
|
Pensions |
|
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. |
|
| 4 |
Analysis of turnover |
2026 |
|
2025 |
| £ |
£ |
|
|
Revenue from civil engineering contracts |
25,111,621 |
|
24,524,426 |
|
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
UK & Ireland |
25,111,621 |
|
24,524,426 |
|
|
| 5 |
Operating profit |
2026 |
|
2025 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
895,952 |
|
723,541 |
|
|
Auditors' remuneration for audit services |
12,000 |
|
10,000 |
|
(Gain)/loss on disposal of tangible assets |
|
10,705 |
|
21,498 |
|
Foreign exchange differences |
(641) |
|
(172) |
|
|
|
|
|
|
|
|
|
|
| 6 |
Directors' emoluments |
2026 |
|
2025 |
| £ |
£ |
|
|
Remuneration |
352,041 |
|
375,029 |
|
Company contributions to defined contribution pension plans |
480,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
832,041 |
|
375,029 |
|
|
|
|
|
|
|
|
|
|
|
Highest paid director: |
|
Aggregate remuneration |
114,984 |
|
108,855 |
|
Company contributions to defined contribution pension plans |
120,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
234,984 |
|
108,855 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Staff costs |
2026 |
|
2025 |
| £ |
£ |
|
|
Wages and salaries |
3,499,316 |
|
3,904,175 |
|
Social security costs |
438,422 |
|
7,057 |
|
Other pension costs |
544,607 |
|
66,620 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,482,345 |
|
3,977,852 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
2026 |
|
2025 |
| Number |
Number |
|
|
Administration |
11 |
|
11 |
|
Technical |
59 |
|
61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
70 |
|
72 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Interest payable |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
10,912 |
|
Other loans |
- |
|
(9) |
|
Finance charges payable under finance leases and hire purchase contracts |
|
61,312 |
|
59,224 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
61,312 |
|
70,127 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Taxation |
2026 |
|
2025 |
| £ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the period |
1,078,300 |
|
342,354 |
|
Adjustments in respect of previous periods |
(66,267) |
|
(7,183) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,012,033 |
|
335,171 |
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
(242,969) |
|
180,853 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit on ordinary activities |
769,064 |
|
516,024 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2026 |
|
2025 |
| £ |
£ |
|
Profit on ordinary activities before tax |
3,554,365 |
|
2,412,335 |
|
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
|
25% |
|
| £ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
888,591 |
|
603,084 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
91,369 |
|
1,607 |
|
Capital allowances for period in excess of depreciation |
102,085 |
|
(162,926) |
|
Utilisation of tax losses |
- |
|
(102,088) |
|
Adjustments to tax charge in respect of previous periods |
(66,267) |
|
(7,183) |
|
(Loss)/Profit on sale of fixed assets |
(3,745) |
|
2,677 |
|
|
|
|
|
|
|
|
|
|
|
Current tax charge for period |
1,012,033 |
|
335,171 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
|
|
At cost |
|
At cost |
|
At cost |
| £ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 May 2025 |
1,957,363 |
|
6,884,805 |
|
1,155,634 |
|
9,997,802 |
|
Additions |
3,244,500 |
|
599,780 |
|
31,800 |
|
3,876,080 |
|
Disposals |
- |
|
(298,422) |
|
(18,600) |
|
(317,022) |
|
|
|
|
|
|
|
|
|
|
|
At 30 April 2026 |
5,201,863 |
|
7,186,163 |
|
1,168,834 |
|
13,556,860 |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2025 |
123,543 |
|
2,051,093 |
|
594,377 |
|
2,769,013 |
|
Charge for the year |
42,702 |
|
676,455 |
|
176,795 |
|
895,952 |
|
On disposals |
- |
|
(152,458) |
|
(18,600) |
|
(171,058) |
|
|
|
|
|
|
|
|
|
|
|
At 30 April 2026 |
166,245 |
|
2,575,090 |
|
752,572 |
|
3,493,907 |
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
|
At 30 April 2026 |
5,035,618 |
|
4,611,073 |
|
416,262 |
|
10,062,953 |
|
|
At 30 April 2025 |
1,833,820 |
|
4,833,712 |
|
561,257 |
|
7,228,789 |
|
|
|
|
|
|
|
|
|
|
|
Land and buildings comprise: |
|
|
|
|
Freehold property |
|
Leasehold improvements |
|
Total |
| £ |
£ |
|
Cost or valuation |
|
At 1 May 2025 |
1,930,014 |
|
27,349 |
|
1,957,363 |
|
Additions |
3,244,500 |
|
- |
|
3,244,500 |
|
|
|
|
|
|
|
|
|
|
|
At 30 April 2026 |
5,174,514 |
|
27,349 |
|
5,201,863 |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2025 |
107,135 |
|
16,408 |
|
123,543 |
|
Charge for the year |
38,600 |
|
4,102 |
|
42,702 |
|
|
|
|
|
|
|
|
|
|
|
At 30 April 2026 |
145,735 |
|
20,510 |
|
166,245 |
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
|
At 30 April 2026 |
5,028,779 |
|
6,839 |
|
5,035,618 |
|
|
|
|
|
|
|
|
|
|
|
At 30 April 2025 |
1,822,879 |
|
10,941 |
|
1,833,820 |
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Stocks |
2026 |
|
2025 |
| £ |
£ |
|
|
Work in progress |
477,183 |
|
371,388 |
|
|
|
|
|
|
|
|
|
|
| 12 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade debtors |
1,211,539 |
|
2,983,354 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
455,100 |
|
440,100 |
|
Other debtors |
35,693 |
|
20,350 |
|
Prepayments and accrued income |
106,838 |
|
137,148 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,809,170 |
|
3,580,952 |
|
|
|
|
|
|
|
|
|
|
| 13 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans |
- |
|
16,093 |
|
Obligations under finance lease and hire purchase contracts |
373,021 |
|
490,985 |
|
Trade creditors |
1,026,350 |
|
1,381,615 |
|
Corporation tax |
1,078,300 |
|
342,354 |
|
Other taxes and social security costs |
573,321 |
|
142,344 |
|
Other creditors |
196,189 |
|
237,370 |
|
Accruals and deferred income |
250,323 |
|
650,528 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,497,504 |
|
3,261,289 |
|
|
|
|
|
|
|
|
|
|
| 14 |
Creditors: amounts falling due after one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans |
- |
|
20,013 |
|
Obligations under finance lease and hire purchase contracts |
380,369 |
|
639,066 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
380,369 |
|
659,079 |
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to related party undertakings are unsecured, interest free and repayable on demand. |
|
|
Northern Bank Limited hold a fixed charge over the following: |
|
- West Riverside Farm, Denny, FK6 5JF |
|
- 13 Calihead Drive, Smithstone, Cumbernauld, Glasgow, G68 9AA |
|
- Land at Forked Bridge Waste Water Treatment Works, Glenavy Road, Lisburn, County Antrim |
|
|
Northern Bank Limited also hold a floating charge over all the property or undertaking of the company. |
|
| 15 |
Obligations under finance leases and hire purchase |
2026 |
|
2025 |
|
contracts |
£ |
£ |
|
|
Amounts payable: |
|
Within one year |
373,021 |
|
490,985 |
|
Within two to five years |
380,369 |
|
639,066 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
753,390 |
|
1,130,051 |
|
|
| 16 |
Deferred taxation |
2026 |
|
2025 |
| £ |
£ |
|
|
Accelerated capital allowances |
1,096,672 |
|
1,339,641 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
2025 |
| £ |
£ |
|
|
At 1 May |
1,339,641 |
|
1,158,788 |
|
(Credited)/charged to the profit and loss account |
(242,969) |
|
180,853 |
|
|
|
|
|
|
|
|
|
|
|
At 30 April |
1,096,672 |
|
1,339,641 |
|
|
|
| 17 |
Share capital |
Nominal |
|
2026 |
|
2026 |
|
2025 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
|
| 18 |
Reserves |
|
Called up share capital:
This represents the nominal value of shares that have been issued. |
|
|
Profit and loss account:
The profit and loss account represents cumulative profits and losses of dividends and other adjustments. |
|
| 16 |
Profit and loss account |
2026 |
|
2025 |
| £ |
£ |
|
|
At 1 May |
8,469,798 |
|
7,145,487 |
|
Profit for the financial year |
2,785,301 |
|
1,896,311 |
|
Dividends |
(900,000) |
|
(572,000) |
|
|
|
|
|
|
|
|
|
|
|
At 30 April |
10,355,099 |
|
8,469,798 |
|
|
|
|
|
|
|
|
|
|
| 17 |
Reconciliation of net debt |
|
|
1 May 2025 |
Cash flows |
|
Non-cash changes |
|
30 April 2026 |
| £ |
£ |
£ |
£ |
|
|
Cash and cash equivalents |
2,548,778 |
|
431,660 |
|
- |
|
2,980,438 |
|
|
|
|
|
|
|
|
|
|
|
|
2,548,778 |
|
431,660 |
|
- |
|
2,980,438 |
|
|
Borrowings: |
|
Debt due within one year |
(729,534) |
|
172,704 |
|
- |
|
(556,830) |
|
Debt due after one year |
(659,079) |
|
278,710 |
|
|
|
(380,369) |
|
|
|
|
|
|
|
|
|
|
|
|
(1,388,613) |
|
451,414 |
|
- |
|
(937,199) |
|
|
|
|
|
|
|
|
|
|
|
Net debt |
1,160,165 |
|
883,074 |
|
- |
|
2,043,239 |
|
|
|
|
|
|
|
|
|
|
| 18 |
Dividends |
2026 |
|
2025 |
| £ |
£ |
|
|
Dividends on ordinary shares (note 16) |
900,000 |
|
572,000 |
|
|
|
|
|
|
|
|
|
|
|
|
| 19 |
Loans to/(from) directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr Richard Chambers |
|
Interest free loan repayable on demand |
(10,604) |
|
132,353 |
|
(135,000) |
|
(13,251) |
|
|
Mr Derek Wilson |
|
Interest free loan repayable on demand |
(372) |
|
133,613 |
|
(135,000) |
|
(1,759) |
|
|
Mr Albert George Wilson |
|
Interest free loan repayable on demand |
(93,256) |
|
337,287 |
|
(315,000) |
|
(70,969) |
|
|
Mrs Irene Shirley Wilson |
|
Interest free loan repayable on demand |
(118,224) |
|
335,394 |
|
(315,000) |
|
(97,830) |
|
|
|
|
|
|
|
|
|
|
|
|
(222,456) |
|
938,647 |
|
(900,000) |
|
(183,809) |
|
|
|
|
|
|
|
|
|
|
|
| 20 |
Controlling party |
|
|
By virtue of their shareholding, Mr Albert George Wilson and Mrs Irene Shirley Wilson are deemed to have the controlling interest in the company. |