James Stevenson (Quarries) Limited NI026102 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is quarrying & processing of stone Digita Accounts Production Advanced 6.30.9574.0 true false true NI026102 2022-04-01 2023-03-31 NI026102 2023-03-31 NI026102 bus:OrdinaryShareClass1 2023-03-31 NI026102 core:CurrentFinancialInstruments 2023-03-31 NI026102 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI026102 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI026102 core:LandBuildings 2023-03-31 NI026102 core:MotorVehicles 2023-03-31 NI026102 core:OtherPropertyPlantEquipment 2023-03-31 NI026102 bus:SmallEntities 2022-04-01 2023-03-31 NI026102 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 NI026102 bus:FullAccounts 2022-04-01 2023-03-31 NI026102 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI026102 bus:RegisteredOffice 2022-04-01 2023-03-31 NI026102 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 NI026102 bus:Director7 2022-04-01 2023-03-31 NI026102 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 NI026102 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI026102 core:LandBuildings 2022-04-01 2023-03-31 NI026102 core:MotorVehicles 2022-04-01 2023-03-31 NI026102 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 NI026102 core:PlantMachinery 2022-04-01 2023-03-31 NI026102 core:Subsidiary1 2022-04-01 2023-03-31 NI026102 core:Subsidiary1 1 2022-04-01 2023-03-31 NI026102 core:Subsidiary1 countries:NorthernIreland 2022-04-01 2023-03-31 NI026102 countries:NorthernIreland 2022-04-01 2023-03-31 NI026102 2022-03-31 NI026102 core:CostValuation 2022-03-31 NI026102 core:LandBuildings 2022-03-31 NI026102 core:MotorVehicles 2022-03-31 NI026102 core:OtherPropertyPlantEquipment 2022-03-31 NI026102 2021-04-01 2022-03-31 NI026102 2022-03-31 NI026102 bus:OrdinaryShareClass1 2022-03-31 NI026102 core:CurrentFinancialInstruments 2022-03-31 NI026102 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI026102 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 NI026102 core:LandBuildings 2022-03-31 NI026102 core:MotorVehicles 2022-03-31 NI026102 core:OtherPropertyPlantEquipment 2022-03-31 NI026102 core:Subsidiary1 1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI026102

James Stevenson (Quarries) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

James Stevenson (Quarries) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

James Stevenson (Quarries) Limited

(Registration number: NI026102)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,515,035

5,727,532

Investments

6

62,002

62,002

 

6,577,037

5,789,534

Current assets

 

Stocks

7

248,515

215,745

Debtors

8

995,849

885,012

Cash at bank and in hand

 

2,959,728

3,268,894

 

4,204,092

4,369,651

Creditors: Amounts falling due within one year

9

(1,752,087)

(1,644,220)

Net current assets

 

2,452,005

2,725,431

Total assets less current liabilities

 

9,029,042

8,514,965

Creditors: Amounts falling due after more than one year

9

(5,445)

(6,031)

Provisions for liabilities

(473,059)

(491,157)

Net assets

 

8,550,538

8,017,777

Capital and reserves

 

Called up share capital

10

62,002

62,002

Retained earnings

8,488,536

7,955,775

Shareholders' funds

 

8,550,538

8,017,777

 

James Stevenson (Quarries) Limited

(Registration number: NI026102)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

.........................................
Mr Jonathon George Stevenson
Company secretary and director

.........................................
Mr Thomas James Stevenson
Director

 
     
 

James Stevenson (Quarries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
215 Doury Road
Ballymena
Co. Antrim
BT43 6SS

These financial statements were authorised for issue by the Board on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

James Stevenson (Quarries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

straight line over 50 years

Plant and machinery

5%, 10% & 15% straight line basis

Motor vehicles

15% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2022 - 36).

 

James Stevenson (Quarries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

869,575

709,686

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

2,463,263

1,256,544

8,827,971

12,547,778

Additions

72,548

4,446

1,711,727

1,788,721

Disposals

-

-

(827,570)

(827,570)

At 31 March 2023

2,535,811

1,260,990

9,712,128

13,508,929

Depreciation

At 1 April 2022

171,980

921,457

5,726,809

6,820,246

Charge for the year

7,921

74,623

787,031

869,575

Eliminated on disposal

-

-

(695,927)

(695,927)

At 31 March 2023

179,901

996,080

5,817,913

6,993,894

Carrying amount

At 31 March 2023

2,355,910

264,910

3,894,215

6,515,035

At 31 March 2022

2,291,283

335,087

3,101,162

5,727,532

Included within the net book value of land and buildings above is £2,355,910 (2022 - £2,291,283) in respect of freehold land and buildings.
 

 

James Stevenson (Quarries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

62,002

62,002

Subsidiaries

£

Cost or valuation

At 1 April 2022

62,002

Provision

Carrying amount

At 31 March 2023

62,002

At 31 March 2022

62,002

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Bottomfields

Clinty Quarry
215 Doury Road
Ballymena
Co Antrim
BT43 6SS

Northern Ireland

ordinary shares

100%

100%

Bottomfields is a dormant company.

7

Stocks

2023
£

2022
£

Raw materials and consumables

185,709

169,031

Work in progress

62,806

46,714

248,515

215,745

 

James Stevenson (Quarries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Debtors

Other debtors amount includes loans to related parties of £0 (2023) and £109,464 (2022).

Current

2023
£

2022
£

Trade debtors

873,787

759,256

Prepayments

18,292

15,630

Other debtors

103,770

110,126

 

995,849

885,012

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

849,813

496,552

Amounts owed to group undertakings and related parties

851,614

1,072,690

Taxation and social security

 

26,086

36,046

Other creditors

 

24,574

38,932

 

1,752,087

1,644,220

Due after one year

 

Deferred income

 

5,445

6,031

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Deferred income

5,445

6,031

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

62,002 ordinary shares of £1 each

62,002

62,002

62,002

62,002