Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31true7true2023-01-01falseNo description of principal activity7The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC438764 2023-01-01 2023-12-31 SC438764 2022-01-01 2022-12-31 SC438764 2023-12-31 SC438764 2022-12-31 SC438764 c:CompanySecretary1 2023-01-01 2023-12-31 SC438764 c:Director1 2023-01-01 2023-12-31 SC438764 c:Director2 2023-01-01 2023-12-31 SC438764 c:Director3 2023-01-01 2023-12-31 SC438764 c:Director4 2023-01-01 2023-12-31 SC438764 c:Director5 2023-01-01 2023-12-31 SC438764 c:Director6 2023-01-01 2023-12-31 SC438764 c:Director7 2023-01-01 2023-12-31 SC438764 c:RegisteredOffice 2023-01-01 2023-12-31 SC438764 d:PlantMachinery 2023-01-01 2023-12-31 SC438764 d:PlantMachinery 2023-12-31 SC438764 d:PlantMachinery 2022-12-31 SC438764 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC438764 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 SC438764 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 SC438764 d:CurrentFinancialInstruments 2023-12-31 SC438764 d:CurrentFinancialInstruments 2022-12-31 SC438764 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC438764 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC438764 d:ShareCapital 2023-12-31 SC438764 d:ShareCapital 2022-12-31 SC438764 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC438764 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC438764 c:FRS102 2023-01-01 2023-12-31 SC438764 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC438764 c:FullAccounts 2023-01-01 2023-12-31 SC438764 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC438764 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 SC438764 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: SC438764










STANEYHILL QUARRY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
STANEYHILL QUARRY LIMITED
 

COMPANY INFORMATION


DIRECTORS
G B Anderson 
A M Anderson 
B G Anderson 
Mrs D M Anderson 
Mrs D T Anderson 
Mrs V Anderson 
N A Anderson 




COMPANY SECRETARY
A M Anderson



REGISTERED NUMBER
SC438764



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
STANEYHILL QUARRY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STANEYHILL QUARRY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 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 Staneyhill Quarry Limited for the year ended 31 December 2023 which comprise  the Statement of financial position 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 Staneyhill Quarry Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2024Our work has been undertaken solely to prepare for your approval the financial statements of Staneyhill Quarry Limited and state those matters that we have agreed to state to the Board of directors of Staneyhill Quarry 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 Staneyhill Quarry Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Staneyhill Quarry 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 Staneyhill Quarry Limited. You consider that Staneyhill Quarry 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 Staneyhill Quarry 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.

  



EQ Accountants Limited
 
Chartered Accountants
  
14 City Quay
Dundee
DD1 3JA
18 April 2024
Page 1

 
STANEYHILL QUARRY LIMITED
REGISTERED NUMBER: SC438764

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 4 
33,753
38,574

Tangible assets
 5 
20,834
2,521

Investments
  
50
50

Investment property
  
534,650
534,650

  
589,287
575,795

Current assets
  

Debtors: amounts falling due within one year
 6 
113,453
118,770

Cash at bank and in hand
  
235,515
125,908

  
348,968
244,678

Creditors: amounts falling due within one year
 7 
(67,841)
(153,817)

Net current assets
  
 
 
281,127
 
 
90,861

Total assets less current liabilities
  
870,414
666,656

Provisions for liabilities
  

Deferred tax
  
(28,278)
(24,799)

  
 
 
(28,278)
 
 
(24,799)

Net assets
  
842,136
641,857


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
842,036
641,757

  
842,136
641,857


Page 2

 
STANEYHILL QUARRY LIMITED
REGISTERED NUMBER: SC438764

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 income and retained earnings 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 on 17 April 2024.




B G Anderson
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
STANEYHILL QUARRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Staneyhill Quarry Limited is a limited company incorporated in Scotland. The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principle place of business is Seafield House, Lerwick, Scotland, ZE1 0RN.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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 reporting 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 reporting 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 reporting date.

 
2.3

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.

 
2.4

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 4

 
STANEYHILL QUARRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.4
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 basis.

Depreciation is provided on the following basis:

Plant and machinery
-
13%
reducing balance

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.

 
2.5

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

  
2.6

TURNOVER

Turnover arises from the rent of land and buildings and quarry royalties. 

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
STANEYHILL QUARRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


INTANGIBLE ASSETS




Other assets

£



Cost


At 1 January 2023
48,216



At 31 December 2023

48,216



Amortisation


At 1 January 2023
9,642


Charge for the year on owned assets
4,821



At 31 December 2023

14,463



Net book value



At 31 December 2023
33,753



At 31 December 2022
38,574




5.


TANGIBLE FIXED ASSETS





Plant and machinery

£



Cost or valuation


At 1 January 2023
4,915


Additions
21,289



At 31 December 2023

26,204



Depreciation


At 1 January 2023
2,394


Charge for the year on owned assets
2,976



At 31 December 2023

5,370



Net book value



At 31 December 2023
20,834



At 31 December 2022
2,521

Page 6

 
STANEYHILL QUARRY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
61,129
70,859

Amounts owed by joint ventures and associated undertakings
47,911
47,911

Other debtors
4,413
-

113,453
118,770



7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
7,931
241

Accruals and deferred income
2,080
2,080

Other taxation and social security
57,830
30,654

Other creditors
-
120,842

67,841
153,817



Page 7