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REGISTERED NUMBER: 08668057 (England and Wales)















STACEY ASPHALT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






STACEY ASPHALT LIMITED (REGISTERED NUMBER: 08668057)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


STACEY ASPHALT LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: Mr T Stacey
Mr J Stacey
Mr L Stacey





REGISTERED OFFICE: Ryder Point Works
Wirksworth
Derbyshire
DE4 4HE





REGISTERED NUMBER: 08668057 (England and Wales)





ACCOUNTANTS: The Rees Partnership
Bentley Bridge House
Chesterfield Road
Matlock
Derbyshire
DE4 5LE

STACEY ASPHALT LIMITED (REGISTERED NUMBER: 08668057)

ABRIDGED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 886,339 1,011,870
Investments 5 105,556 105,556
991,895 1,117,426

CURRENT ASSETS
Stocks 57,194 120,000
Debtors 1,973,596 1,972,235
Cash at bank and in hand 1,387,004 1,156,324
3,417,794 3,248,559
CREDITORS
Amounts falling due within one year (937,168 ) (1,070,511 )
NET CURRENT ASSETS 2,480,626 2,178,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,472,521

3,295,474

CREDITORS
Amounts falling due after more than one
year

(26,110

)

(33,813

)

PROVISIONS FOR LIABILITIES (195,381 ) (161,425 )
NET ASSETS 3,251,030 3,100,236

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 3,251,027 3,100,233
3,251,030 3,100,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

STACEY ASPHALT LIMITED (REGISTERED NUMBER: 08668057)

ABRIDGED BALANCE SHEET - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Mr T Stacey - Director


STACEY ASPHALT LIMITED (REGISTERED NUMBER: 08668057)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Stacey Asphalt 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.

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.

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 etc - 20% on reducing balance and 15% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

STACEY ASPHALT LIMITED (REGISTERED NUMBER: 08668057)

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 the 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on as incurred over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 1,975,322
Additions 74,028
Disposals (57,000 )
At 31 March 2023 1,992,350
DEPRECIATION
At 1 April 2022 963,452
Charge for year 169,614
Eliminated on disposal (27,055 )
At 31 March 2023 1,106,011
NET BOOK VALUE
At 31 March 2023 886,339
At 31 March 2022 1,011,870

STACEY ASPHALT LIMITED (REGISTERED NUMBER: 08668057)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022
and 31 March 2023 48,149
DEPRECIATION
At 1 April 2022 2,006
Charge for year 11,536
At 31 March 2023 13,542
NET BOOK VALUE
At 31 March 2023 34,607
At 31 March 2022 46,143

5. FIXED ASSET INVESTMENTS

As at 31 March 2023, the company owned 18.18% of the issued share capital of Stacey Processing Limited.

6. RELATED PARTY DISCLOSURES

At 31 March 2023, the company owned 18.18% (2022: 15.87%) of Stacey Processing Limited, a company in which Mr T Stacey is the majority shareholder.

All trading transactions with Stacey Processing Limited, Stacey Transport Limited and Stacey Limited were conducted on an arm's length basis.

No interest is charged on outstanding intercompany loan balances which are repayable on demand.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, by virtue of their shareholdings.