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REGISTERED NUMBER: 03039538 (England and Wales)
















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

STABILISED PAVEMENTS UK LIMITED

STABILISED PAVEMENTS UK LIMITED (REGISTERED NUMBER: 03039538)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STABILISED PAVEMENTS UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: G Howe
T Wilmot
W Smith





SECRETARY: T Wilmot





REGISTERED OFFICE: Ironstone House
High Street
Scaldwell
Northampton
Northamptonshire
NN6 9JS





REGISTERED NUMBER: 03039538 (England and Wales)





AUDITORS: SFB Group Limited
Chartered Accountants
Statutory Auditor
Manor Court Chambers
Townsend Drive
Nuneaton
Warwickshire
CV11 6RU

STABILISED PAVEMENTS UK LIMITED (REGISTERED NUMBER: 03039538)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,206,207 2,730,067
Investments 5 10,100 10,100
3,216,307 2,740,167

CURRENT ASSETS
Debtors 6 1,977,733 1,835,618
Cash at bank 90,194 613,332
2,067,927 2,448,950
CREDITORS
Amounts falling due within one year 7 1,186,440 1,270,469
NET CURRENT ASSETS 881,487 1,178,481
TOTAL ASSETS LESS CURRENT LIABILITIES 4,097,794 3,918,648

CREDITORS
Amounts falling due after more than one year 8 (845,082 ) (1,040,188 )

PROVISIONS FOR LIABILITIES (406,856 ) (283,048 )
NET ASSETS 2,845,856 2,595,412

CAPITAL AND RESERVES
Called up share capital 10 30,000 30,000
Retained earnings 2,815,856 2,565,412
SHAREHOLDERS' FUNDS 2,845,856 2,595,412

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2023 and were signed on its behalf by:





G Howe - Director


STABILISED PAVEMENTS UK LIMITED (REGISTERED NUMBER: 03039538)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Stabilised Pavements UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Stabilised Pavements UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Stabilisation Services Pty Limited, Byrons, 62 Burwood Road, Burwood, NSW 2134, Australia.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

STABILISED PAVEMENTS UK LIMITED (REGISTERED NUMBER: 03039538)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 3,657,966
Additions 798,313
Disposals (348,550 )
At 31 March 2023 4,107,729
DEPRECIATION
At 1 April 2022 927,899
Charge for year 291,844
Eliminated on disposal (318,221 )
At 31 March 2023 901,522
NET BOOK VALUE
At 31 March 2023 3,206,207
At 31 March 2022 2,730,067

The net book value of tangible fixed assets includes £ 1,092,187 (2022 - £ 1,458,437 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 10,100
NET BOOK VALUE
At 31 March 2023 10,100
At 31 March 2022 10,100

STABILISED PAVEMENTS UK LIMITED (REGISTERED NUMBER: 03039538)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,827,783 1,827,783
Tax 45,775 135
VAT 61,320 -
Prepayments 42,855 7,700
1,977,733 1,835,618

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,623 16,593
Hire purchase contracts 147,109 187,817
Trade creditors 20,865 -
Amounts owed to group undertakings 1,004,843 1,036,910
VAT - 28,240
Accrued expenses - 909
1,186,440 1,270,469

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,058 17,058
Bank loans - 2-5 years 54,058 54,058
Bank loans more 5 yr by instal 330,862 341,516
Hire purchase contracts 443,104 627,556
845,082 1,040,188

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 330,862 341,516
Hire purchase - 21,777
330,862 363,293

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 415,601 429,225

Bank loans are secured by a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30,000 Ordinary £1 30,000 30,000

STABILISED PAVEMENTS UK LIMITED (REGISTERED NUMBER: 03039538)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Carvell BFP FCA (Senior Statutory Auditor)
for and on behalf of SFB Group Limited

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The parent undertaking is Stabilisation Services Pty Limited, a company registered in Australia.

The address from which group accounts can be obtained is: Byrons, 62 Burwood Road, Burwood, NSW 2134, Australia.

The directors believe the controlling parties are Wilstar Pty Limited, Edinburgh Securities Pty Limited, companies registered in Australia, and G. Howe, director, acting in concert.