Quick question; do you receipt/accrue for retention payments? i.e. do they get added to the capital expenditure in the year they are originally incurred or in the following year when they are signed off and paid?
The capital expenditure in the year should be to the value of the works completed (hence will include retention held) the retention will be held on the balance sheet until paid as a creditor. When its paid this will reduce creditors but have not effect on the capital expenditure for the year as already accounted for