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REGISTERED NUMBER: 07472208 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

KETLEY QUARRIES & RECYCLING LIMITED

KETLEY QUARRIES & RECYCLING LIMITED (REGISTERED NUMBER: 07472208)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KETLEY QUARRIES & RECYCLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: P J Hughes





REGISTERED OFFICE: Oil Depot
242
London Road
Stretton on Dunsmore
CV23 9JA





REGISTERED NUMBER: 07472208 (England and Wales)





AUDITORS: Flint & Thompson
Statutory Auditors
2 Manor Square
Solihull
West Midlands
B91 3PX

KETLEY QUARRIES & RECYCLING LIMITED (REGISTERED NUMBER: 07472208)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,000,000 35,000,000

CREDITORS
Amounts falling due within one year 5 6,149,182 6,042,872
NET CURRENT LIABILITIES (6,149,182 ) (6,042,872 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,850,818

28,957,128

PROVISIONS FOR LIABILITIES 7,267,375 5,523,205
NET ASSETS 21,583,443 23,433,923

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair Value Reserve 6 23,546,295 23,546,295
Retained earnings (1,963,852 ) (113,372 )
21,583,443 23,433,923

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 30 July 2024 and were signed by:





P J Hughes - Director


KETLEY QUARRIES & RECYCLING LIMITED (REGISTERED NUMBER: 07472208)

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


1. STATUTORY INFORMATION

Ketley Quarries & Recycling 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.

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 as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on a going concern basis which the director considers to be appropriate. The company has group support to ensure that it meets its liabilities for a period of no less than 12 months from the approval of the financial statements. Consequently, the director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements and therefore have prepared them on a going concern basis.

Related party exemption
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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revisions affects both current and future periods.

Judgements
No significant judgements have been made by management in preparing these financial statements

Key sources of estimation uncertainty
Management review and revalue investment property held within the company using similar sites in related entities and the wider industry. Estimation uncertainty arises as industry and related party data may not be representative of the true value of the investment property. The carrying amount of the investment property revaluation is £29,069,500 (2022 - £29,069,500).

Tangible fixed assets
Land is carried at it's revalued amount, being fair value at the date of valuation less impairment losses.

KETLEY QUARRIES & RECYCLING LIMITED (REGISTERED NUMBER: 07472208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Debtors

Trade receivables do not carry any interest receivable and are initially recognised at fair value and subsequently at amortised cost using the effective interest method.

Creditors

Trade payables do not carry any interest receivable and are initially recognised at fair value and subsequently at amortised cost using the effective interest method.

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.

3. EMPLOYEES AND DIRECTORS

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

KETLEY QUARRIES & RECYCLING LIMITED (REGISTERED NUMBER: 07472208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 35,000,000
NET BOOK VALUE
At 31 July 2023 35,000,000
At 31 July 2022 35,000,000

Cost or valuation at 31 July 2023 is represented by:

Freehold
property
£   
Valuation in 2021 29,069,500
Cost 5,930,500
35,000,000

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 5,930,500 5,930,500

Investment property was valued on an open market basis on 31 July 2021 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 76
Amounts owed to group undertakings 6,144,932 6,038,980
Other creditors 4,250 3,816
6,149,182 6,042,872

6. RESERVES
Fair
Value
Reserve
£   
At 1 August 2022
and 31 July 2023 23,546,295

KETLEY QUARRIES & RECYCLING LIMITED (REGISTERED NUMBER: 07472208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Georgiades BA FCA (Senior Statutory Auditor)
for and on behalf of Flint & Thompson

8. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Frank Solutions Limited.
Frank Solutions Limited is based in the Isle of Man and the group financial statement can be obtained from
The Engine Room
2nd Floor
54-58 Athol Street
Douglas
IM1 1JD
Isle of Man