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REGISTERED NUMBER: SC677914 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Swinlees Quarry Limited

Swinlees Quarry Limited (Registered number: SC677914)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Swinlees Quarry Limited (Registered number: SC677914)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,043,713 1,080,658

CURRENT ASSETS
Debtors 5 48,483 36,026
Cash at bank 107,072 213,940
155,555 249,966
CREDITORS
Amounts falling due within one year 6 (388,421 ) (441,213 )
NET CURRENT LIABILITIES (232,866 ) (191,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

810,847

889,411

CREDITORS
Amounts falling due after more than one year 7 (796,866 ) (874,640 )

PROVISIONS FOR LIABILITIES (1,110 ) (4,113 )
NET ASSETS 12,871 10,658

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,771 10,558
12,871 10,658

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.

Swinlees Quarry Limited (Registered number: SC677914)

Balance Sheet - continued
30 September 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





S P Baxter - Director


Swinlees Quarry Limited (Registered number: SC677914)

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

1. STATUTORY INFORMATION

Swinlees Quarry Limited is a private company, limited by shares, domiciled in Scotland, registration number SC677914. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, FK3 8WX.

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.

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 group members.

Tangible fixed assets and depreciation
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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Swinlees Quarry Limited (Registered number: SC677914)

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

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 1,057,012 47,420 1,104,432
DEPRECIATION
At 1 October 2022 21,140 2,634 23,774
Charge for year 21,140 15,805 36,945
At 30 September 2023 42,280 18,439 60,719
NET BOOK VALUE
At 30 September 2023 1,014,732 28,981 1,043,713
At 30 September 2022 1,035,872 44,786 1,080,658

Swinlees Quarry Limited (Registered number: SC677914)

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

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 47,420
DEPRECIATION
At 1 October 2022 2,634
Charge for year 15,805
At 30 September 2023 18,439
NET BOOK VALUE
At 30 September 2023 28,981
At 30 September 2022 44,786

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Amounts owed by group undertakings 20,776 -
Other debtors 27,707 36,026
48,483 36,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 8,107 8,040
Trade creditors 16,942 4,069
Amounts owed to group undertakings 210,000 290,763
Amounts owed to related parties 100,000 100,000
Other creditors 53,372 38,341
388,421 441,213

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 6,966 14,740
Amounts owed to group undertakings 789,900 859,900
796,866 874,640

Swinlees Quarry Limited (Registered number: SC677914)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Hire purchase contracts 15,073 22,780

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

9. RELATED PARTY DISCLOSURES

Companies under common control
Purchases = £2,000 (2022: £52,250)
Amounts owed to related parties - £100,000 (2022: £100,000)

10. ULTIMATE PARENT ENTITY

The company's ultimate parent company is Swinlees Holdings Limited, a company registered in Scotland. The financial statements of Swinlees Holdings Limited can be obtained from Companies House and its registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX.