REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 25 JANUARY 2022 TO 31 OCTOBER 2022 |
FOR |
STORRINGTON SAND QUARRY LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 25 JANUARY 2022 TO 31 OCTOBER 2022 |
FOR |
STORRINGTON SAND QUARRY LIMITED |
STORRINGTON SAND QUARRY LIMITED (REGISTERED NUMBER: 13870538) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 25 JANUARY 2022 TO 31 OCTOBER 2022 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 |
STORRINGTON SAND QUARRY LIMITED (REGISTERED NUMBER: 13870538) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
STORRINGTON SAND QUARRY LIMITED (REGISTERED NUMBER: 13870538) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 25 JANUARY 2022 TO 31 OCTOBER 2022 |
1. | STATUTORY INFORMATION |
Storrington Sand Quarry Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
All amounts in the financial statements are rounded to the nearest £. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
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. |
Significant judgements and estimates |
In preparing these financial statements, the directors have made the following judgements: |
- Determine whether leases entered into by the company either as a lessor or a lessee are operating lease 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 and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. |
Other key sources of estimation uncertainty |
Tangible fixed assets |
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
STORRINGTON SAND QUARRY LIMITED (REGISTERED NUMBER: 13870538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 25 JANUARY 2022 TO 31 OCTOBER 2022 |
3. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Plant and machinery etc | - |
Financial instruments |
Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost. |
Basic financial liabilities, including trade creditors, other creditors and amounts owed to group undertakings, are initially recognised at transaction price and are subsequently recognised at amortised cost. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
The company has no financial assets or financial liabilities measured at fair value nor does it have external borrowings. The company is not exposed to any material risk arising from the interest rate benchmark reform as LIBOR is replaced with alternative benchmark interest rates. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
STORRINGTON SAND QUARRY LIMITED (REGISTERED NUMBER: 13870538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 25 JANUARY 2022 TO 31 OCTOBER 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 October 2022 |
DEPRECIATION |
Charge for period |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Foss & Co Group Limited, and the immediate parent company is Foss Holdings Limited, both companies registered in England and Wales. The registered office of both companies is Chancery House, 3 Hatchlands Road, Redhill, Surrey RH1 6AA. Copies of the parent's accounts can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ. |