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REGISTERED NUMBER: 03104740 (England and Wales)















Derwen Aggregates Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Derwen Aggregates Ltd (Registered number: 03104740)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Derwen Aggregates Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M M Davies
B Davies
S I Hanford
D A Keogh





SECRETARY: M M Davies





REGISTERED OFFICE: Neath Abbey Wharf
Neath Abbey
Neath
West Glam
SA10 6BL





REGISTERED NUMBER: 03104740 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Derwen Aggregates Ltd (Registered number: 03104740)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,069,070 2,098,661

CURRENT ASSETS
Stocks 60,000 55,000
Debtors 5 995,242 1,076,228
Cash at bank and in hand 701,112 676,068
1,756,354 1,807,296
CREDITORS
Amounts falling due within one year 6 854,910 861,176
NET CURRENT ASSETS 901,444 946,120
TOTAL ASSETS LESS CURRENT LIABILITIES 2,970,514 3,044,781

CREDITORS
Amounts falling due after more than one year 7 (253,708 ) (289,778 )

PROVISIONS FOR LIABILITIES (334,825 ) (378,121 )
NET ASSETS 2,381,981 2,376,882

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,381,881 2,376,782
2,381,981 2,376,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Derwen Aggregates Ltd (Registered number: 03104740)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





S I Hanford - Director


Derwen Aggregates Ltd (Registered number: 03104740)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Derwen Aggregates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents amounts received for the provision of recycling and waste management services. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost
Plant and machinery - 10% on cost and 10% reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% straight line

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.

Derwen Aggregates Ltd (Registered number: 03104740)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors, creditors and provisions
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Grants

Revenue grants received are taken to income in line with meeting the requirements of the funding. Where capital grants are received these are carried in liabilities and released to income in line with the useful economic life of the asset(s) to which the funding relates.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Employee benefit
The costs of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 37 ) .

Derwen Aggregates Ltd (Registered number: 03104740)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 946,745 5,881,211 740
Additions - 157,579 2,930
Disposals - (132,684 ) -
At 31 October 2023 946,745 5,906,106 3,670
DEPRECIATION
At 1 November 2022 838,196 4,456,554 126
Charge for year 50,158 229,407 478
Eliminated on disposal - (87,199 ) -
At 31 October 2023 888,354 4,598,762 604
NET BOOK VALUE
At 31 October 2023 58,391 1,307,344 3,066
At 31 October 2022 108,549 1,424,657 614

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 1,012,930 66,245 7,907,871
Additions 470,206 19,178 649,893
Disposals (324,089 ) - (456,773 )
At 31 October 2023 1,159,047 85,423 8,100,991
DEPRECIATION
At 1 November 2022 482,295 32,039 5,809,210
Charge for year 174,955 12,202 467,200
Eliminated on disposal (157,290 ) - (244,489 )
At 31 October 2023 499,960 44,241 6,031,921
NET BOOK VALUE
At 31 October 2023 659,087 41,182 2,069,070
At 31 October 2022 530,635 34,206 2,098,661

Derwen Aggregates Ltd (Registered number: 03104740)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 586,616 255,205 841,821
Additions 128,700 148,572 277,272
Disposals (104,000 ) - (104,000 )
Transfer to ownership - (114,205 ) (114,205 )
At 31 October 2023 611,316 289,572 900,888
DEPRECIATION
At 1 November 2022 243,483 72,978 316,461
Charge for year 88,015 61,033 149,048
Eliminated on disposal (69,989 ) - (69,989 )
Transfer to ownership - (81,081 ) (81,081 )
At 31 October 2023 261,509 52,930 314,439
NET BOOK VALUE
At 31 October 2023 349,807 236,642 586,449
At 31 October 2022 343,133 182,227 525,360

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 415,230 425,185
Other debtors 580,012 651,043
995,242 1,076,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 36,015 36,000
Hire purchase contracts 199,800 188,785
Trade creditors 265,116 280,008
Taxation and social security 129,492 82,328
Other creditors 224,487 274,055
854,910 861,176

Derwen Aggregates Ltd (Registered number: 03104740)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 60,025 96,042
Hire purchase contracts 193,683 164,413
Other creditors - 29,323
253,708 289,778

Deferred Government Grants

£   
Deferred grants brought forward159,462
New grants received in the year-
Released to the profit and loss account(114,285)
45,177

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 96,040 132,042
Hire purchase contracts 393,483 353,198
489,523 485,240

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
M M Davies
Balance outstanding at start of year (798 ) (19,152 )
Amounts advanced 112,985 71,354
Amounts repaid (85,000 ) (53,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,187 (798 )

Derwen Aggregates Ltd (Registered number: 03104740)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. RELATED PARTY DISCLOSURES

Entities with control, joint control, or significant influence over the company

2023 2022
£    £   

Recharges - 100,000
Management Charges 762,537 832,140
Amount due from related parties 334,230 423,184

11. PENSION COSTS

At the year end the company owed £6,199 (2022 - £6,183) in respect of its staff pension costs.