IRIS Accounts Production v23.3.0.418 09025723 Board of Directors 30.9.23 1.10.22 30.9.23 30.9.23 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure090257232022-09-30090257232023-09-30090257232022-10-012023-09-30090257232021-09-30090257232021-10-012022-09-30090257232022-09-3009025723ns16:EnglandWales2022-10-012023-09-3009025723ns15:PoundSterling2022-10-012023-09-3009025723ns11:Director12022-10-012023-09-3009025723ns11:Director22022-10-012023-09-3009025723ns11:Consolidated2023-09-3009025723ns11:ConsolidatedGroupCompanyAccounts2022-10-012023-09-3009025723ns11:PrivateLimitedCompanyLtd2022-10-012023-09-3009025723ns11:SmallEntitiesns11:Consolidated2022-10-012023-09-3009025723ns11:Consolidatedns11:AuditExemptWithAccountantsReport2022-10-012023-09-3009025723ns11:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3009025723ns11:SmallCompaniesRegimeForAccounts2022-10-012023-09-3009025723ns11:Consolidatedns11:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3009025723ns11:SmallCompaniesRegimeForAccountsns11:Consolidated2022-10-012023-09-3009025723ns11:FullAccounts2022-10-012023-09-300902572312022-10-012023-09-3009025723ns11:Consolidated2022-10-012023-09-3009025723ns11:RegisteredOffice2022-10-012023-09-3009025723ns11:Consolidated2021-10-012022-09-3009025723ns6:CurrentFinancialInstruments2023-09-3009025723ns6:CurrentFinancialInstruments2022-09-3009025723ns6:Non-currentFinancialInstruments2023-09-3009025723ns6:Non-currentFinancialInstruments2022-09-3009025723ns6:ShareCapital2023-09-3009025723ns6:ShareCapital2022-09-3009025723ns6:CapitalRedemptionReserve2023-09-3009025723ns6:CapitalRedemptionReserve2022-09-3009025723ns6:RetainedEarningsAccumulatedLosses2023-09-3009025723ns6:RetainedEarningsAccumulatedLosses2022-09-3009025723ns6:ShareCapital2021-09-3009025723ns6:RetainedEarningsAccumulatedLosses2021-09-3009025723ns6:CapitalRedemptionReserve2021-09-3009025723ns6:RetainedEarningsAccumulatedLosses2021-10-012022-09-3009025723ns6:CapitalRedemptionReserve2021-10-012022-09-3009025723ns6:RetainedEarningsAccumulatedLosses2022-10-012023-09-3009025723ns6:CapitalRedemptionReserve2022-10-012023-09-3009025723ns6:NetGoodwill2022-10-012023-09-3009025723ns6:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3009025723ns6:LandBuildings2022-10-012023-09-3009025723ns6:PlantMachinery2022-10-012023-09-3009025723ns6:LandBuildings2022-09-3009025723ns6:PlantMachinery2022-09-3009025723ns6:LandBuildings2023-09-3009025723ns6:PlantMachinery2023-09-3009025723ns6:LandBuildings2022-09-3009025723ns6:PlantMachinery2022-09-3009025723ns6:CostValuation2022-09-3009025723ns6:WithinOneYearns6:CurrentFinancialInstruments2023-09-3009025723ns6:WithinOneYearns6:CurrentFinancialInstruments2022-09-3009025723ns6:WithinOneYearns6:HirePurchaseContracts2023-09-3009025723ns6:WithinOneYearns6:HirePurchaseContracts2022-09-3009025723ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2023-09-3009025723ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2022-09-3009025723ns6:HirePurchaseContracts2023-09-3009025723ns6:HirePurchaseContracts2022-09-3009025723ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2023-09-3009025723ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-09-3009025723ns6:WithinOneYear2023-09-3009025723ns6:WithinOneYear2022-09-30
REGISTERED NUMBER: 09025723 (England and Wales)















Report of the Directors and

Unaudited Consolidated Financial Statements

for the Year Ended 30 September 2023

for

Bagforce Aggregates Group Ltd

Bagforce Aggregates Group Ltd (Registered number: 09025723)






Contents of the Consolidated Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Consolidated Statement of Changes in Equity 8

Company Statement of Changes in Equity 9

Notes to the Consolidated Financial Statements 10


Bagforce Aggregates Group Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Ms A L Whiteside
Mrs S A Tucker





REGISTERED OFFICE: Unit 2 Kimberley
Stathern Lane
Harby
Leicestershire
LE14 4DA





REGISTERED NUMBER: 09025723 (England and Wales)





ACCOUNTANTS: Xitax Limited
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Report of the Directors
for the Year Ended 30 September 2023

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the sale and distribution of bagged aggregates.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.

Ms A L Whiteside
Mrs S A Tucker

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs S A Tucker - Director


6 November 2023

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Consolidated Income Statement
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   

TURNOVER 3,405,431 3,614,074

Cost of sales 2,812,197 2,736,768
GROSS PROFIT 593,234 877,306

Administrative expenses 486,224 747,842
OPERATING PROFIT 4 107,010 129,464


Interest payable and similar expenses 12,906 10,928
PROFIT BEFORE TAXATION 94,104 118,536

Tax on profit 14,936 49,275
PROFIT FOR THE FINANCIAL YEAR 79,168 69,261

Profit attributable to:
Owners of the parent 79,168 69,261

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Consolidated Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 361,301 550,927
Investments 8 - -
361,301 550,927

CURRENT ASSETS
Stocks 134,092 138,327
Debtors 9 251,692 392,595
Cash at bank and in hand 543,492 555,842
929,276 1,086,764
CREDITORS
Amounts falling due within one year 10 676,175 783,239
NET CURRENT ASSETS 253,101 303,525
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,402

854,452

CREDITORS
Amounts falling due after more than one
year

11

(41,903

)

(138,390

)

PROVISIONS FOR LIABILITIES (84,075 ) (131,482 )
NET ASSETS 488,424 584,580

CAPITAL AND RESERVES
Called up share capital 70 70
Capital redemption reserve 30 30
Retained earnings 488,324 584,480
488,424 584,580

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Consolidated Balance Sheet - continued
30 September 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





Mrs S A Tucker - Director


Bagforce Aggregates Group Ltd (Registered number: 09025723)

Company Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 361,301 550,927
Investments 8 100 100
361,401 551,027

CURRENT ASSETS
Debtors 9 120,000 -
Cash at bank 224,095 338,194
344,095 338,194
CREDITORS
Amounts falling due within one year 10 370,738 431,701
NET CURRENT LIABILITIES (26,643 ) (93,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

334,758

457,520

CREDITORS
Amounts falling due after more than one
year

11

(41,903

)

(138,390

)

PROVISIONS FOR LIABILITIES (84,075 ) (131,482 )
NET ASSETS 208,780 187,648

CAPITAL AND RESERVES
Called up share capital 70 70
Capital redemption reserve 30 30
Retained earnings 208,680 187,548
208,780 187,648

Company's profit for the financial year 196,456 174,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Company Balance Sheet - continued
30 September 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





Ms A L Whiteside - Director


Bagforce Aggregates Group Ltd (Registered number: 09025723)

Consolidated Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 October 2021 70 790,943 30 791,043

Changes in equity
Dividends - (275,724 ) - (275,724 )
Total comprehensive income - 69,261 - 69,261
Balance at 30 September 2022 70 584,480 30 584,580

Changes in equity
Dividends - (175,324 ) - (175,324 )
Total comprehensive income - 79,168 - 79,168
Balance at 30 September 2023 70 488,324 30 488,424

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Company Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 October 2021 70 289,235 30 289,335

Changes in equity
Dividends - (275,724 ) - (275,724 )
Total comprehensive income - 174,037 - 174,037
Balance at 30 September 2022 70 187,548 30 187,648

Changes in equity
Dividends - (175,324 ) - (175,324 )
Total comprehensive income - 196,456 - 196,456
Balance at 30 September 2023 70 208,680 30 208,780

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Bagforce Aggregates Group Ltd 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 General 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.

Basis of consolidation
The consolidated financial statements incorporate those of Bagforce Aggregates Group Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 30 September 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

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

Goodwill
Acquired goodwill is written off in equal annual instalments over its useful economic life which the directors believe is 4 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 15% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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


Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 17 ) .

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

30.9.23 30.9.22
£    £   
Depreciation - owned assets 97,184 143,201

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


6. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 52,809
AMORTISATION
At 1 October 2022
and 30 September 2023 52,809
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2023

7. TANGIBLE FIXED ASSETS

Group
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 25,000 876,305 901,305
Additions - 57,165 57,165
Disposals - (361,685 ) (361,685 )
At 30 September 2023 25,000 571,785 596,785
DEPRECIATION
At 1 October 2022 13,907 336,471 350,378
Charge for year 1,664 95,520 97,184
Eliminated on disposal - (212,078 ) (212,078 )
At 30 September 2023 15,571 219,913 235,484
NET BOOK VALUE
At 30 September 2023 9,429 351,872 361,301
At 30 September 2022 11,093 539,834 550,927

Company
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 25,000 876,305 901,305
Additions - 57,165 57,165
Disposals - (361,685 ) (361,685 )
At 30 September 2023 25,000 571,785 596,785
DEPRECIATION
At 1 October 2022 13,907 336,471 350,378
Charge for year 1,664 95,520 97,184
Eliminated on disposal - (212,078 ) (212,078 )
At 30 September 2023 15,571 219,913 235,484
NET BOOK VALUE
At 30 September 2023 9,429 351,872 361,301
At 30 September 2022 11,093 539,834 550,927

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2023

8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 100
NET BOOK VALUE
At 30 September 2023 100
At 30 September 2022 100


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.23 30.9.22 30.9.23 30.9.22
£    £    £    £   
Trade debtors 250,162 373,412 - -
Amounts owed by group undertakings - - 120,000 -
Other debtors 1,530 19,183 - -
251,692 392,595 120,000 -

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.23 30.9.22 30.9.23 30.9.22
£    £    £    £   
Hire purchase contracts (see note 12) 67,248 139,724 67,248 139,724
Trade creditors 234,541 313,246 48 440
Taxation and social security 92,083 90,522 70,118 56,010
Other creditors 282,303 239,747 233,324 235,527
676,175 783,239 370,738 431,701

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
30.9.23 30.9.22 30.9.23 30.9.22
£    £    £    £   
Hire purchase contracts (see note 12) 41,903 138,390 41,903 138,390

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2023

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.9.23 30.9.22
£    £   
Gross obligations repayable:
Within one year 72,207 150,287
Between one and five years 45,310 149,138
117,517 299,425

Finance charges repayable:
Within one year 4,959 10,563
Between one and five years 3,407 10,748
8,366 21,311

Net obligations repayable:
Within one year 67,248 139,724
Between one and five years 41,903 138,390
109,151 278,114

Company
Hire purchase contracts
30.9.23 30.9.22
£    £   
Gross obligations repayable:
Within one year 72,207 150,287
Between one and five years 45,310 149,138
117,517 299,425

Finance charges repayable:
Within one year 4,959 10,563
Between one and five years 3,407 10,748
8,366 21,311

Net obligations repayable:
Within one year 67,248 139,724
Between one and five years 41,903 138,390
109,151 278,114

Bagforce Aggregates Group Ltd (Registered number: 09025723)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2023

12. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 18,510 17,178

Company
Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 18,510 17,178

13. SECURED DEBTS

The following secured debts are included within creditors:

Group
30.9.23 30.9.22
£    £   
Hire purchase contracts 109,151 278,114

Hire purchase contracts are secured on the assets to which they relate.

14. ULTIMATE CONTROLLING PARTY

The group is controlled by the directors with no ultimate controlling party.