Company registration number 02766712 (England and Wales)
SOUTHWORTH QUARRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
SOUTHWORTH QUARRY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SOUTHWORTH QUARRY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1
1
Current assets
Debtors
4
14,748
18,662
Cash at bank and in hand
117,951
73,160
132,699
91,822
Creditors: amounts falling due within one year
5
(19,775)
(13,720)
Net current assets
112,924
78,102
Total assets less current liabilities
112,925
78,103
Creditors: amounts falling due after more than one year
6
(40,037)
(30,034)
Net assets
72,888
48,069
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
72,886
48,067
Total equity
72,888
48,069
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SOUTHWORTH QUARRY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 August 2022 and are signed on its behalf by:
Mr E R Fairclough
Director
Company Registration No. 02766712
SOUTHWORTH QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Southworth Quarry Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Jolliffes, 6 St John Street, Chester, CH1 1DA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the ordinary nature of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
12% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
SOUTHWORTH QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 April 2021 and 31 March 2022
250,000
Depreciation and impairment
At 1 April 2021 and 31 March 2022
249,999
Carrying amount
At 31 March 2022
1
At 31 March 2021
1
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
8,381
10,798
Other debtors
4,968
7,638
Prepayments and accrued income
1,399
226
14,748
18,662
5
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
17,081
11,275
Accruals and deferred income
2,694
2,445
19,775
13,720
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
40,037
30,034
SOUTHWORTH QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
7
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
8
Related party transactions
The beneficial holder of 100% of the shares of the company is the Southworth Estate Trust ("the trust").
During the year the company paid dividends of £48,000 (2021 - £30,944) to the trust. Two of the directors of the company, E R Fairclough and J Horwood are beneficiaries of the trust and all three directors are trustees of the trust.