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REGISTERED NUMBER: 04293062 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

Wye Valley Demolition Limited

Wye Valley Demolition Limited (Registered number: 04293062)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wye Valley Demolition Limited

Company Information
for the year ended 31 August 2023







Directors: S A Howell
A R Howell
A J Moulton
G M Pettigrew
T M H Davies



Secretary: S A Howell



Registered office: Lloyd George House
Fordshill Road
Rotherwas Industrial Estate
Hereford
HR2 6NS



Registered number: 04293062 (England and Wales)



Senior statutory auditor: Robin Graham Mason FCCA



Auditors: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Wye Valley Demolition Limited (Registered number: 04293062)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 465,139 561,668

CURRENT ASSETS
Stocks 6 1,049,526 2,377,476
Debtors 7 1,133,683 536,239
Cash at bank 1,117,123 618,019
3,300,332 3,531,734
CREDITORS
Amounts falling due within one year 8 (1,335,639 ) (1,317,995 )
NET CURRENT ASSETS 1,964,693 2,213,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,429,832

2,775,407

CREDITORS
Amounts falling due after more than one year 9 (107,410 ) (496,946 )

PROVISIONS FOR LIABILITIES (218,325 ) (119,112 )
NET ASSETS 2,104,097 2,159,349

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 2,104,095 2,159,347
SHAREHOLDERS' FUNDS 2,104,097 2,159,349

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 Profit and Loss Account has not been delivered.

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




S A Howell - Director



A J Moulton - Director


Wye Valley Demolition Limited (Registered number: 04293062)

Notes to the Financial Statements
for the year ended 31 August 2023


1. STATUTORY INFORMATION

Wye Valley Demolition Limited 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 Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Wye Valley Demolition Limited (Registered number: 04293062)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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 year was 31 (2022 - 32 ) .

Wye Valley Demolition Limited (Registered number: 04293062)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 September 2022 668,260 67,963 736,223
Additions 43,500 - 43,500
Disposals (11,850 ) (31,963 ) (43,813 )
At 31 August 2023 699,910 36,000 735,910
Depreciation
At 1 September 2022 173,422 1,133 174,555
Charge for year 99,929 8,651 108,580
Eliminated on disposal (10,260 ) (2,104 ) (12,364 )
At 31 August 2023 263,091 7,680 270,771
Net book value
At 31 August 2023 436,819 28,320 465,139
At 31 August 2022 494,838 66,830 561,668

6. STOCKS
2023 2022
£    £   
Stocks 1,049,526 2,377,476

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 951,868 470,943
Other debtors 12,500 -
Prepayments 169,315 65,296
1,133,683 536,239

Wye Valley Demolition Limited (Registered number: 04293062)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) - 32,692
Hire purchase contracts 132,637 129,149
Trade creditors 436,048 523,173
Tax 309,717 213,671
Social security and other taxes 42,383 53,832
VAT 121,182 957
Other creditors 196,621 253,845
Directors' current accounts 81 81
Accruals and deferred income 96,970 110,595
1,335,639 1,317,995

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) - 256,899
Hire purchase contracts 107,410 240,047
107,410 496,946

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 32,692

Amounts falling due between two and five years:
Bank loans - 2-5 years - 256,899

National Westminster Bank PLC had an unscheduled mortgage debenture incorporating a fixed and floating charge over all assets of the company dated 5th June 2014. This charge was satisfied and Companies House notified on 13 September 2023.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

Wye Valley Demolition Limited (Registered number: 04293062)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


12. RESERVES
Retained
earnings
£   

At 1 September 2022 2,159,347
Profit for the year 944,748
Dividends (1,000,000 )
At 31 August 2023 2,104,095

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robin Graham Mason FCCA (Senior Statutory Auditor)
for and on behalf of Acre Accountancy Limited

14. POST BALANCE SHEET EVENTS

During October 2023 a partial management buyout was finalised and Wye Valley Demolition Holdings Limited now holds 60% of the share capital of the company.