Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-3122The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falsecontinues to be that of producers of aggregates.22truetrue 00508824 2022-09-01 2023-08-31 00508824 2021-09-01 2022-08-31 00508824 2023-08-31 00508824 2022-08-31 00508824 c:Director2 2022-09-01 2023-08-31 00508824 c:Director3 2022-09-01 2023-08-31 00508824 c:Director4 2022-09-01 2023-08-31 00508824 c:Director5 2022-09-01 2023-08-31 00508824 c:Director6 2022-09-01 2023-08-31 00508824 c:RegisteredOffice 2022-09-01 2023-08-31 00508824 d:Buildings 2022-09-01 2023-08-31 00508824 d:Buildings 2023-08-31 00508824 d:Buildings 2022-08-31 00508824 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00508824 d:Buildings d:LongLeaseholdAssets 2022-09-01 2023-08-31 00508824 d:Buildings d:LongLeaseholdAssets 2023-08-31 00508824 d:Buildings d:LongLeaseholdAssets 2022-08-31 00508824 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 00508824 d:PlantMachinery 2022-09-01 2023-08-31 00508824 d:PlantMachinery 2023-08-31 00508824 d:PlantMachinery 2022-08-31 00508824 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00508824 d:MotorVehicles 2022-09-01 2023-08-31 00508824 d:MotorVehicles 2023-08-31 00508824 d:MotorVehicles 2022-08-31 00508824 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00508824 d:FurnitureFittings 2022-09-01 2023-08-31 00508824 d:OfficeEquipment 2022-09-01 2023-08-31 00508824 d:OfficeEquipment 2023-08-31 00508824 d:OfficeEquipment 2022-08-31 00508824 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00508824 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00508824 d:ComputerSoftware 2023-08-31 00508824 d:ComputerSoftware 2022-08-31 00508824 d:CurrentFinancialInstruments 2023-08-31 00508824 d:CurrentFinancialInstruments 2022-08-31 00508824 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00508824 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 00508824 d:ShareCapital 2023-08-31 00508824 d:ShareCapital 2022-08-31 00508824 d:SharePremium 2023-08-31 00508824 d:SharePremium 2022-08-31 00508824 d:CapitalRedemptionReserve 2023-08-31 00508824 d:CapitalRedemptionReserve 2022-08-31 00508824 d:RetainedEarningsAccumulatedLosses 2023-08-31 00508824 d:RetainedEarningsAccumulatedLosses 2022-08-31 00508824 c:OrdinaryShareClass1 2022-09-01 2023-08-31 00508824 c:OrdinaryShareClass1 2023-08-31 00508824 c:OrdinaryShareClass2 2022-09-01 2023-08-31 00508824 c:OrdinaryShareClass2 2023-08-31 00508824 c:OrdinaryShareClass3 2022-09-01 2023-08-31 00508824 c:OrdinaryShareClass3 2023-08-31 00508824 c:OrdinaryShareClass4 2022-09-01 2023-08-31 00508824 c:OrdinaryShareClass4 2023-08-31 00508824 c:OrdinaryShareClass5 2022-09-01 2023-08-31 00508824 c:OrdinaryShareClass5 2023-08-31 00508824 c:FRS102 2022-09-01 2023-08-31 00508824 c:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 00508824 c:FullAccounts 2022-09-01 2023-08-31 00508824 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 00508824 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-09-01 2023-08-31 00508824 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-31 00508824 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-31 00508824 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-09-01 2023-08-31 00508824 2 2022-09-01 2023-08-31 00508824 d:ComputerSoftware d:OwnedIntangibleAssets 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00508824









LONGWATER (GRAVEL) COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
COMPANY INFORMATION


Directors
Mrs E Littleboy 
Mrs B Campbell 
W Littleboy 
Mrs F Littleboy 
S Smith 




Registered number
00508824



Registered office
William Frost Way
Longwater Business Park

Costessey

Norwich

NR5 0JS




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
LONGWATER (GRAVEL) COMPANY LIMITED
 

CONTENTS



Page
Accountant's report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 11


 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LONGWATER (GRAVEL) COMPANY LIMITED
FOR THE YEAR ENDED 31 AUGUST 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Longwater (Gravel) Company Limited for the year ended 31 August 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Longwater (Gravel) Company Limited, as a body, in accordance with the terms of our engagement letter dated 19 February 2023Our work has been undertaken solely to prepare for your approval the financial statements of Longwater (Gravel) Company Limited  and state those matters that we have agreed to state to the Board of directors of Longwater (Gravel) Company Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longwater (Gravel) Company Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Longwater (Gravel) Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Longwater (Gravel) Company Limited. You consider that Longwater (Gravel) Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Longwater (Gravel) Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
15 March 2024
Page 1

 
LONGWATER (GRAVEL) COMPANY LIMITED
REGISTERED NUMBER: 00508824

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
7,595
-

Tangible assets
 5 
5,069,330
5,356,451

  
5,076,925
5,356,451

Current assets
  

Stocks
  
71,500
33,900

Debtors: amounts falling due within one year
 6 
1,842,588
1,896,370

Cash at bank and in hand
  
2,732,512
2,280,443

  
4,646,600
4,210,713

Creditors: amounts falling due within one year
 7 
(2,208,676)
(2,094,242)

Net current assets
  
 
 
2,437,924
 
 
2,116,471

Total assets less current liabilities
  
7,514,849
7,472,922

Provisions for liabilities
  

Deferred tax
  
(846,378)
(863,207)

Other provisions
  
(179,670)
(147,729)

  
 
 
(1,026,048)
 
 
(1,010,936)

Net assets
  
6,488,801
6,461,986


Capital and reserves
  

Called up share capital 
  
409,500
409,500

Share premium account
  
24,800
24,800

Capital redemption reserve
  
4,000
4,000

Profit and loss account
  
6,050,501
6,023,686

  
6,488,801
6,461,986


Page 2

 
LONGWATER (GRAVEL) COMPANY LIMITED
REGISTERED NUMBER: 00508824
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
W Littleboy
Director

Date: 15 March 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is William Frost Way Longwater Business Park, Costessey, Norwich, Norfolk, England, NR5 0JS.
The Company's principal activity is that of producers of aggregates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements for the year ended 31 August 2017 were the company’s first financial statements that complied with FRS 102.  The company’s date of transition to FRS 102 is 1 July 2015. The company’s last financial statements prepared in accordance with previous UK GAAP were for the year ended 31 August 2016.
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of aggregates supplied, exclusive of Value Added Tax and trade discounts. Turnover is recognised when goods are physically delivered to or collected by the customer. 

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight line basis.

Depreciation is provided on the following basis:

Freehold land
-
not depreciated
Freehold buildings
-
2-5% straight line
Leasehold property
-
10-25% straight line
Plant & machinery
-
10-25% reducing balance/straight line
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
15-33% reducing balance/straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. 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.

Page 6

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 22).

Page 7

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Intangible assets




Computer software

£



Cost


Additions
7,995



At 31 August 2023

7,995



Amortisation


Charge for the year on owned assets
400



At 31 August 2023

400



Net book value



At 31 August 2023
7,595



At 31 August 2022
-



Page 8

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Freehold property
Leasehold Property
Plant & machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 September 2022
4,471,818
927,781
6,096,925
252,733
41,164
11,790,421


Additions
-
-
189,038
280,709
-
469,747


Disposals
-
-
(656,750)
(128,865)
-
(785,615)



At 31 August 2023

4,471,818
927,781
5,629,213
404,577
41,164
11,474,553



Depreciation


At 1 September 2022
1,415,137
802,596
4,077,049
105,480
33,708
6,433,970


Charge for the year on owned assets
56,475
93,488
372,857
32,693
3,739
559,252


Disposals
-
-
(519,438)
(68,561)
-
(587,999)



At 31 August 2023

1,471,612
896,084
3,930,468
69,612
37,447
6,405,223



Net book value



At 31 August 2023
3,000,206
31,697
1,698,745
334,965
3,717
5,069,330



At 31 August 2022
3,056,681
125,184
2,019,876
147,254
7,456
5,356,451

Page 9

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,184,790
1,353,084

Other debtors
26,675
15,973

Prepayments and accrued income
631,123
527,313

1,842,588
1,896,370



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,000,333
966,965

Corporation tax
210,616
132,504

Other taxation and social security
103,558
68,998

Other creditors
658,555
690,957

Accruals and deferred income
235,614
234,818

2,208,676
2,094,242



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4,650 Ordinary shares of £1.00 each
4,650
4,650
1,200 A Ordinary shares of £1.00 each
1,200
1,200
250 B Ordinary shares of £1.00 each
250
250
1,000 C Ordinary shares of £1.00 each
1,000
1,000
900 D Ordinary shares of £1.00 each
900
900
1,200 E Ordinary shares of £1.00 each
1,200
1,200
100 F Ordinary shares of £1.00 each
100
100
200 G Ordinary shares of £1.00 each
200
200
400,000 Preference shares shares of £1.00 each
400,000
400,000

409,500

409,500


Page 10

 
LONGWATER (GRAVEL) COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Transactions with directors

As at 31 August 2022, directors owed the company £10,365. During the year payments were made on behalf of the directors of £37,413 and company expenses paid by the directors were £30,147. As at 31 August 2023, the company was owed £17,301. The balance is interest free and repayable on demand.


10.


Related party transactions

As at 31 August 2023, the company owed £49,763 (2022: £45,763) to directors. The loan was interest free and repayable on demand. 

 
Page 11