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REGISTERED NUMBER: SC467626 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Forth Valley Concrete Ltd

Forth Valley Concrete Ltd (Registered number: SC467626)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forth Valley Concrete Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr Kenneth Hampton





REGISTERED OFFICE: Accountants Plus
82 Muir Street
Hamilton
ML3 6BJ





REGISTERED NUMBER: SC467626 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Forth Valley Concrete Ltd (Registered number: SC467626)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,254,407 773,834

CURRENT ASSETS
Stocks 122,250 124,550
Debtors 5 202,308 296,050
Cash at bank and in hand 78,790 11,886
403,348 432,486
CREDITORS
Amounts falling due within one year 6 594,659 385,242
NET CURRENT (LIABILITIES)/ASSETS (191,311 ) 47,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,063,096

821,078

CREDITORS
Amounts falling due after more than
one year

7

887,097

605,969
NET ASSETS 175,999 215,109

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 125,999 165,109
175,999 215,109

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

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

The director acknowledges his 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.

Forth Valley Concrete Ltd (Registered number: SC467626)

Balance Sheet - continued
30 June 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 director and authorised for issue on 31 October 2023 and were signed by:





Mr Kenneth Hampton - Director


Forth Valley Concrete Ltd (Registered number: SC467626)

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

1. STATUTORY INFORMATION

Forth Valley Concrete Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


Forth Valley Concrete Ltd (Registered number: SC467626)

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

2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

Forth Valley Concrete Ltd (Registered number: SC467626)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 89,208 747,197 335,000 2,557 1,173,962
Additions - 780,325 21,000 540 801,865
Disposals - (231,360 ) - - (231,360 )
At 30 June 2023 89,208 1,296,162 356,000 3,097 1,744,467
DEPRECIATION
At 1 July 2022 13,283 301,101 83,750 1,994 400,128
Charge for year 1,784 128,521 68,063 494 198,862
Eliminated on disposal - (108,930 ) - - (108,930 )
At 30 June 2023 15,067 320,692 151,813 2,488 490,060
NET BOOK VALUE
At 30 June 2023 74,141 975,470 204,187 609 1,254,407
At 30 June 2022 75,925 446,096 251,250 563 773,834

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 594,002 335,000 929,002
Additions 780,325 21,000 801,325
Disposals (231,360 ) - (231,360 )
At 30 June 2023 1,142,967 356,000 1,498,967
DEPRECIATION
At 1 July 2022 237,187 83,750 320,937
Charge for year 114,295 68,063 182,358
Eliminated on disposal (108,930 ) - (108,930 )
At 30 June 2023 242,552 151,813 394,365
NET BOOK VALUE
At 30 June 2023 900,415 204,187 1,104,602
At 30 June 2022 356,815 251,250 608,065

Forth Valley Concrete Ltd (Registered number: SC467626)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 182,399 253,666
Directors' current accounts 16,559 -
VAT 834 -
Prepayments 2,516 42,384
202,308 296,050

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 132,712 53,423
Hire purchase contracts 312,787 171,907
Trade creditors 134,117 121,101
Social security and other taxes 7,247 14,284
VAT - 18,733
Other creditors 4,196 3,141
Directors' current accounts - 223
Accrued expenses 3,600 2,430
594,659 385,242

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 158,181 142,560
Hire purchase contracts 728,916 463,409
887,097 605,969

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank overdrafts 3,566 297
Bank loans 287,327 195,686
Hire purchase contracts 1,041,703 635,316
1,332,596 831,299

HSBC UK Bank PLC, holds a floating charge over all the property and undertakings of the company.
Hire purchase contracts are secured on the assets to which they relate.

Forth Valley Concrete Ltd (Registered number: SC467626)

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

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Mr Kenneth Hampton
Balance outstanding at start of year 223 664
Amounts advanced - (441 )
Amounts repaid (14,197 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,974 ) 223