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REGISTERED NUMBER: 08821662 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Newlay Readymix Limited

Newlay Readymix Limited (Registered number: 08821662)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Newlay Readymix Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mrs C R Finney





REGISTERED OFFICE: Thornhill Works
Calder Road
Dewsbury
West Yorkshire
WF12 9HY





REGISTERED NUMBER: 08821662 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Newlay Readymix Limited (Registered number: 08821662)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 19,652 23,414
Tangible assets 5 2,398,567 1,865,250
2,418,219 1,888,664

CURRENT ASSETS
Stocks 6 153,575 155,450
Debtors 7 966,669 1,327,668
Cash at bank and in hand 15 45,108
1,120,259 1,528,226
CREDITORS
Amounts falling due within one year 8 1,125,350 1,018,754
NET CURRENT (LIABILITIES)/ASSETS (5,091 ) 509,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,413,128

2,398,136

CREDITORS
Amounts falling due after more than one
year

9

(1,448,372

)

(1,378,534

)

PROVISIONS FOR LIABILITIES (220,416 ) (189,571 )
NET ASSETS 744,340 830,031

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 162,000 162,000
Retained earnings 582,339 668,030
SHAREHOLDERS' FUNDS 744,340 830,031

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

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

The director acknowledges her 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.

Newlay Readymix Limited (Registered number: 08821662)

Balance Sheet - continued
30 November 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 18 April 2024 and were signed by:





Mrs C R Finney - Director


Newlay Readymix Limited (Registered number: 08821662)

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

1. STATUTORY INFORMATION

Newlay Readymix 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. 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.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 5% on cost
Plant and machinery - 5% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 12.5% 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.

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.

Newlay Readymix Limited (Registered number: 08821662)

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

2. ACCOUNTING POLICIES - continued

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.

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 16 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Development Computer
costs software Totals
£ £ £
COST
At 1 December 2022 42,069 - 42,069
Additions - 495 495
At 30 November 2023 42,069 495 42,564
AMORTISATION
At 1 December 2022 18,655 - 18,655
Amortisation for year 4,207 50 4,257
At 30 November 2023 22,862 50 22,912
NET BOOK VALUE
At 30 November 2023 19,207 445 19,652
At 30 November 2022 23,414 - 23,414

Newlay Readymix Limited (Registered number: 08821662)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 December 2022 60,390 706,080 41,430 1,610,777 2,418,677
Additions 211,000 8,498 9,376 626,823 855,697
Disposals - - - (114,850 ) (114,850 )
At 30 November 2023 271,390 714,578 50,806 2,122,750 3,159,524
DEPRECIATION
At 1 December 2022 5,811 162,821 37,626 347,169 553,427
Charge for year 4,671 35,640 3,876 206,412 250,599
Eliminated on disposal - - - (43,069 ) (43,069 )
At 30 November 2023 10,482 198,461 41,502 510,512 760,957
NET BOOK VALUE
At 30 November 2023 260,908 516,117 9,304 1,612,238 2,398,567
At 30 November 2022 54,579 543,259 3,804 1,263,608 1,865,250

Included within the above are assets held on hire purchase. The NBV of these assets are £1,512,539 (2022 - £1,239,206). Depreciation £174,841 (2022 - £137,344).

6. STOCKS
30.11.23 30.11.22
£ £
Stocks 153,575 155,450

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£ £
Trade debtors 566,578 884,902
Amounts owed by associates 268,046 365,082
Other debtors 65,347 47,200
VAT 43,329 -
Prepayments 23,369 30,484
966,669 1,327,668

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£ £
Bank loans and overdrafts (see note 10) 178,166 63,642
Hire purchase contracts (see note 11) 522,760 348,205
Trade creditors 410,492 525,847
Social security and other tax 9,019 9,365
Pension liability 2,219 1,792
VAT - 67,283
Accrued expenses 2,694 2,620
1,125,350 1,018,754

Newlay Readymix Limited (Registered number: 08821662)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£ £
Bank loans (see note 10) 668,437 -
Hire purchase contracts (see note 11) 689,255 578,708
Trade creditors 42,142 374,505
Amounts owed to associates 48,538 425,321
1,448,372 1,378,534

10. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 128,166 -
Bank loans 50,000 63,642
178,166 63,642

Amounts falling due between one and two years:
Bank loans - 1-2 years 50,000 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 618,437 -

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.23 30.11.22
£ £
Net obligations repayable:
Within one year 522,760 348,205
Between one and five years 689,255 578,708
1,212,015 926,913

Non-cancellable
operating leases
30.11.23 30.11.22
£ £
Within one year 24,944 30,284
Between one and five years 96,000 96,000
In more than five years 192,000 216,000
312,944 342,284

Newlay Readymix Limited (Registered number: 08821662)

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

12. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£ £
Bank overdraft 128,166 -
Bank loans 718,437 -
846,603 -

Allica Financial Services Limited hold a fixed and floating charge over the company. The floating charge covers all the property or undertaking of the company.

13. RELATED PARTY DISCLOSURES

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 subsidiaries within the group.

Newlay Concrete Limited
A company controlled by Mr D Beaumont, the father of Mrs C Finney.

At the balance sheet date the company was owed £3,494 (2022 - £3,494) from Newlay Concrete Limited.

Humberside Blocks (2012) Limited
A company controlled by Mr D Beaumont, the father of Mrs C Finney.

At the balance sheet date the company was owed £145,320 (2022 - £145,320) from Humberside Blocks (2012) Limited.

Dewsbury Sand & Gravel Limited
A company controlled by Mr D Beaumont, the father of Mrs C Finney.

At the balance sheet date the company owed £48,538 (2022 - £425,321) to Dewsbury Sand & Gravel Limited.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Newlay Readymix Group Limited.

The ultimate controlling party is Mrs C R Finney.