REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Financial Statements |
For The Year Ended 30 September 2023 |
for |
Burcombe Haulage Limited |
REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Financial Statements |
For The Year Ended 30 September 2023 |
for |
Burcombe Haulage Limited |
Burcombe Haulage Limited (Registered number: 03847630) |
Contents of the Financial Statements |
For The Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Statement of Comprehensive Income | 7 |
Balance Sheet | 8 |
Statement of Changes in Equity | 9 |
Cash Flow Statement | 10 |
Notes to the Cash Flow Statement | 11 |
Notes to the Financial Statements | 12 |
Burcombe Haulage Limited |
Company Information |
For The Year Ended 30 September 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Harscombe House |
1 Darklake View |
Plymouth |
Devon |
PL6 7TL |
Burcombe Haulage Limited (Registered number: 03847630) |
Strategic Report |
For The Year Ended 30 September 2023 |
The directors present their strategic report for the year ended 30 September 2023. |
REVIEW OF BUSINESS |
During the year the company continued the business of haulage, primarily for the construction industry but also for general haulage and freight distribution services. |
The Company's turnover for the year was £17,359,525 a decrease of 0.88% on the prior year (2022: £17,513,234). Profit before tax for the financial year saw an increase of 17.31% to £1,205,765 (2022: £1,027,873). |
The balance sheet shows a strengthened position with net assets increasing by 5.04% on the prior year to £7,715,114 (2022: £7,344,855). |
Key performance indicators and other business measures |
30.09.23 | 30.09.22 |
£ | £ |
Turnover | 17,359,525 | 17,513,234 |
Gross margin | 15.63% | 14.17% |
Profit before tax | 1,205,765 | 1,027,873 |
Net assets | 7,715,114 | 7,344,855 |
PRINCIPAL RISKS AND UNCERTAINTIES |
The key risks facing the company are: |
Cyclical nature of the construction industry - most of the trading activity of the company is based around the construction industry which suffers from lean times and times of opportunity. The directors mitigate this risk through company use of sub-contractors which enable the company to control labour costs during busier times. |
Availability of skilled drivers - with the plant utilised by the company skilled drivers are becoming more difficult to attract and retain. The directors review the recruitment and retention initiatives to ensure it attracts the best staff and keeps them with the company. |
Costs of fuel - Fuel prices are monitored by the company and reflected within their pricing structure. To mitigate this risk, the directors periodically review the pricing structure to ensure fuel price movement is reflected in the pricing policy. |
ON BEHALF OF THE BOARD: |
Burcombe Haulage Limited (Registered number: 03847630) |
Report of the Directors |
For The Year Ended 30 September 2023 |
The directors present their report with the financial statements of the company for the year ended 30 September 2023. |
DIVIDENDS |
Interim dividends of £5,611.11 per ordinary A share and £3,000 per ordinary B share were paid during the year. The directors recommended a final dividend of £nil per share. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Bromhead, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Burcombe Haulage Limited |
Opinion |
We have audited the financial statements of Burcombe Haulage Limited (the 'company') for the year ended 30 September 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
Burcombe Haulage Limited |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. |
We identified the laws and regulations applicable to the company through discussions with directors and other management and from our commercial knowledge. |
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including, Companies Act 2006, Health & Safety at Work Act, Employment Law and data protection. |
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by, making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. Also, considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify any unusual transaction and assessed whether judgement and estimates were indicative of potential bias. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documents, reading the minutes of meeting of those charged with governance and enquiring of management as to actual and potential litigation claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Burcombe Haulage Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditors |
Harscombe House |
1 Darklake View |
Plymouth |
Devon |
PL6 7TL |
Burcombe Haulage Limited (Registered number: 03847630) |
Statement of Comprehensive |
Income |
For The Year Ended 30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,228,883 | 1,044,693 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
1,242,237 | 1,052,648 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Burcombe Haulage Limited (Registered number: 03847630) |
Balance Sheet |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
12 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Burcombe Haulage Limited (Registered number: 03847630) |
Statement of Changes in Equity |
For The Year Ended 30 September 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 October 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2023 |
Burcombe Haulage Limited (Registered number: 03847630) |
Cash Flow Statement |
For The Year Ended 30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest element of hire purchase payments paid |
( |
) |
( |
) |
Tax paid |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
New hire purchase in year | 847,541 | 526,840 |
Capital repayments in year | ( |
) | ( |
) |
Amount introduced by directors | - | (1 | ) |
Amount withdrawn by directors | - | (154 | ) |
Group company loan movement | ( |
) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
502,164 |
Cash and cash equivalents at end of year | 2 | 833,574 | 833,088 |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Cash Flow Statement |
For The Year Ended 30 September 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.9.23 | 30.9.22 |
£ | £ |
Profit before taxation |
Depreciation charges |
Loss/(profit) on disposal of fixed assets | ( |
) |
Finance costs | 36,472 | 24,775 |
Finance income | (10,456 | ) | (2,084 | ) |
2,039,239 | 1,672,641 |
(Increase)/decrease in trade and other debtors | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 September 2023 |
30.9.23 | 1.10.22 |
£ | £ |
Cash and cash equivalents | 833,574 | 833,088 |
Year ended 30 September 2022 |
30.9.22 | 1.10.21 |
£ | £ |
Cash and cash equivalents | 833,088 | 502,164 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.10.22 | Cash flow | At 30.9.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 833,088 | 486 | 833,574 |
833,088 | 833,574 |
Debt |
Finance leases | (953,744 | ) | (232,793 | ) | (1,186,537 | ) |
(953,744 | ) | (232,793 | ) | (1,186,537 | ) |
Total | (120,656 | ) | (232,307 | ) | (352,963 | ) |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Financial Statements |
For The Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Burcombe Haulage Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales, excluding value added tax. Turnover is recognised at the point the customer is invoiced for goods and services. |
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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
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. |
Deferred taxation |
Full provision is made at current rates for taxation deferred in respect of all material timing differences. |
3. | EMPLOYEES AND DIRECTORS |
30.9.23 | 30.9.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30.9.23 | 30.9.22 |
Directors | 5 | 5 |
Administration | 11 | 9 |
Drivers | 93 | 89 |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2023 |
3. | EMPLOYEES AND DIRECTORS - continued |
30.9.23 | 30.9.22 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.9.23 | 30.9.22 |
£ | £ |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
Loss/(profit) on disposal of fixed assets | ( |
) |
Computer Software amortisation |
Auditors' remuneration |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.9.23 | 30.9.22 |
£ | £ |
Hire purchase interest |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.9.23 | 30.9.22 |
£ | £ |
Current tax: |
UK corporation tax |
R&D tax credit | - | (129,256 | ) |
Total current tax | ( |
) |
Deferred tax |
Tax on profit |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2023 |
6. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
30.9.23 | 30.9.22 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Adjustments to tax charge in respect of previous periods |
Deferred tax | 174,103 | 293,747 |
Research & Development credit | - | (129,256 | ) |
Total tax charge | 317,506 | 179,822 |
7. | DIVIDENDS |
30.9.23 | 30.9.22 |
£ | £ |
Ordinary shares of £1 each |
Final |
8. | INTANGIBLE FIXED ASSETS |
Computer |
Software |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
Amortisation for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2023 |
9. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
The total carrying amount of assets is pledged as security for the group's bank loans. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 October 2022 |
Additions |
Transfer to ownership | (882,187 | ) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Transfer to ownership | (486,803 | ) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Tax |
Prepayments and accrued income |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2023 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Hire purchase contracts (see note 13) |
Trade creditors |
Corporation tax |
VAT | 371,276 | 194,156 |
Other creditors |
Directors' loan accounts | 1 | 1 |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Hire purchase contracts (see note 13) |
13. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30.9.23 | 30.9.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
30.9.23 | 30.9.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
14. | SECURED DEBTS |
The company provides a guarantee for the bank loan held within the sister company Callycombe Aggregates Limited by way of a fixed charge over the company's assets. |
15. | PROVISIONS FOR LIABILITIES |
30.9.23 | 30.9.22 |
£ | £ |
Deferred tax provision | 841,477 | 667,374 |
Deferred |
tax |
£ |
Balance at 1 October 2022 |
Accelerated capital allowances | 174,103 |
Change in tax rate |
Balance at 30 September 2023 |
Burcombe Haulage Limited (Registered number: 03847630) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2023 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 30.9.22 |
value: | £ | £ |
Ordinary | £1 | 90 | 90 |
Ordinary B | 1 | 10 | 10 |
100 | 100 |
17. | RESERVES |
Retained |
earnings |
£ |
At 1 October 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 September 2023 |
18. | RELATED PARTY DISCLOSURES |
The company trades from premises owned by the directors and no amount is charged by them to the company. |
At the year end Burcombe Holdings Ltd, the parent company, owed the company £302,026 (2022: £302,026). No interest has been charged on these loans. |
At the year end Burcombe Concrete Ltd, a sister company, owed the company £410,246 (2022: £509,881). No interest has been charged on these loans. |
The company made sales to Burcombe Concrete Ltd in the year of £282,995 (2022: £390,735) The amount due to the company at the year end totalled £14,153 (2022: £38,230). |
The company made purchases from Burcombe Concrete Ltd in the year of £24,747 (2022: £30,074). The amount owed by the company at the year end totalled £186 (2022: £143). |
At the year end Tamar Valley Projects Ltd, a sister company, owed the company £728,655 (2022: £686,305). No interest has been charged on these loans. |
At the year end Callycombe Aggregates Ltd, a sister company, owed the company £1,789,472 (2022: £1,774,107). No interest has been charged on these loans. |
The company made sales to Callycombe Aggregates Ltd in the year of £99,046 (2022: £90,683). The amount due to the company at the year end totalled £30,007 (2022: £14,608). |
The company made purchases from Callycombe Aggregates Ltd in the year of £159,167 (2022: £321,713). The amount owed by the company at the year end totalled £36,363 (2022: £24,842). |
19. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |