IRIS Accounts Production v24.1.4.33 SC044590 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0445902022-12-31SC0445902023-12-31SC0445902023-01-012023-12-31SC0445902021-12-31SC0445902022-01-012022-12-31SC0445902022-12-31SC044590ns15:Scotland2023-01-012023-12-31SC044590ns14:PoundSterling2023-01-012023-12-31SC044590ns10:Director12023-01-012023-12-31SC044590ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC044590ns10:SmallEntities2023-01-012023-12-31SC044590ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC044590ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC044590ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC044590ns10:FullAccounts2023-01-012023-12-31SC044590ns10:Director22023-01-012023-12-31SC044590ns10:Director32023-01-012023-12-31SC044590ns10:Director42023-01-012023-12-31SC044590ns10:RegisteredOffice2023-01-012023-12-31SC044590ns5:CurrentFinancialInstruments2023-12-31SC044590ns5:CurrentFinancialInstruments2022-12-31SC044590ns5:ShareCapital2023-12-31SC044590ns5:ShareCapital2022-12-31SC044590ns5:RevaluationReserve2023-12-31SC044590ns5:RevaluationReserve2022-12-31SC044590ns5:CapitalRedemptionReserve2023-12-31SC044590ns5:CapitalRedemptionReserve2022-12-31SC044590ns5:RetainedEarningsAccumulatedLosses2023-12-31SC044590ns5:RetainedEarningsAccumulatedLosses2022-12-31SC044590ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-31SC044590ns5:LeaseholdImprovements2023-01-012023-12-31SC044590ns5:PlantMachinery2023-01-012023-12-31SC044590ns5:FurnitureFittings2023-01-012023-12-31SC044590ns5:MotorVehicles2023-01-012023-12-31SC044590ns5:LandBuildings2022-12-31SC044590ns5:LeaseholdImprovements2022-12-31SC044590ns5:PlantMachinery2022-12-31SC044590ns5:LandBuildings2023-01-012023-12-31SC044590ns5:LandBuildings2023-12-31SC044590ns5:LeaseholdImprovements2023-12-31SC044590ns5:PlantMachinery2023-12-31SC044590ns5:LandBuildings2022-12-31SC044590ns5:LeaseholdImprovements2022-12-31SC044590ns5:PlantMachinery2022-12-31SC044590ns5:FurnitureFittings2022-12-31SC044590ns5:MotorVehicles2022-12-31SC044590ns5:FurnitureFittings2023-12-31SC044590ns5:MotorVehicles2023-12-31SC044590ns5:FurnitureFittings2022-12-31SC044590ns5:MotorVehicles2022-12-31SC044590ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-31SC044590ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-31SC044590ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-31SC044590ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-31SC044590ns5:CostValuation2022-12-31SC044590ns5:AdditionsToInvestments2023-12-31SC044590ns5:CostValuation2023-12-31SC044590ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC044590ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31SC044590ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: SC044590 (Scotland)












Financial Statements

for the Year Ended 31 December 2023

for

Riskend Aggregates Limited

Riskend Aggregates Limited (Registered number: SC044590)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Riskend Aggregates Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M W Clelland
Mr J W Clelland
Mr D C Clelland
Mr S A Clelland





REGISTERED OFFICE: Burnside Industrial Estate
Kilsyth
Glasgow
G65 9JY





REGISTERED NUMBER: SC044590 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Riskend Aggregates Limited (Registered number: SC044590)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,184,025 2,197,375
Investments 5 85,042 84,603
2,269,067 2,281,978

CURRENT ASSETS
Inventories 37,595 24,600
Debtors 6 630,394 723,590
Cash at bank and in hand 854,581 1,124,842
1,522,570 1,873,032
CREDITORS
Amounts falling due within one year 7 81,815 1,164,213
NET CURRENT ASSETS 1,440,755 708,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,709,822

2,990,797

PROVISIONS FOR LIABILITIES 351,061 442,660
NET ASSETS 3,358,761 2,548,137

CAPITAL AND RESERVES
Called up share capital 100,219 100,199
Revaluation reserve 9 500,995 500,995
Capital redemption reserve 100,000 100,000
Retained earnings 2,657,547 1,846,943
SHAREHOLDERS' FUNDS 3,358,761 2,548,137

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Riskend Aggregates Limited (Registered number: SC044590)

Statement of Financial Position - continued
31 December 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 9 July 2024 and were signed on its behalf by:





Mr J W Clelland - Director


Riskend Aggregates Limited (Registered number: SC044590)

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

1. STATUTORY INFORMATION

Riskend Aggregates Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts received from the provision of sand and aggregate materials, shipping and distribution, tipper hire and recycling facilities, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 4% on cost
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Grants are accounted for under the accruals model. Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Inventories
Inventories 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 statement of financial position date.


Riskend Aggregates Limited (Registered number: SC044590)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

Riskend Aggregates Limited (Registered number: SC044590)

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

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Land and to Plant and
buildings property machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 907,661 121,884 2,153,581
Additions - 42,478 249,800
Disposals (50,500 ) - (195,561 )
At 31 December 2023 857,161 164,362 2,207,820
DEPRECIATION
At 1 January 2023 88,872 47,991 886,579
Charge for year - 8,218 197,144
Eliminated on disposal - - (127,499 )
At 31 December 2023 88,872 56,209 956,224
NET BOOK VALUE
At 31 December 2023 768,289 108,153 1,251,596
At 31 December 2022 818,789 73,893 1,267,002

Office Motor
equipment vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 83,157 66,970 3,333,253
Additions 6,042 24,195 322,515
Disposals - - (246,061 )
At 31 December 2023 89,199 91,165 3,409,707
DEPRECIATION
At 1 January 2023 74,634 37,802 1,135,878
Charge for year 3,641 8,300 217,303
Eliminated on disposal - - (127,499 )
At 31 December 2023 78,275 46,102 1,225,682
NET BOOK VALUE
At 31 December 2023 10,924 45,063 2,184,025
At 31 December 2022 8,523 29,168 2,197,375

The quarry land was revalued in 2011 by JWH Ross, Chartered Mineral Surveyors. The land at Pottery Street, Greenock was revalued in 2019 by DM Hall, Chartered Surveyors.

Riskend Aggregates Limited (Registered number: SC044590)

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

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 425,000
DEPRECIATION
At 1 January 2023 167,259
Charge for year 38,662
At 31 December 2023 205,921
NET BOOK VALUE
At 31 December 2023 219,079
At 31 December 2022 257,741

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 84,603
Additions 439
At 31 December 2023 85,042
NET BOOK VALUE
At 31 December 2023 85,042
At 31 December 2022 84,603

The listed investments are stated at cost. The market value at the year end date was £270,533.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 230,860 307,569
Other debtors 399,534 416,021
630,394 723,590

Riskend Aggregates Limited (Registered number: SC044590)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,295 937,658
Taxation and social security 33,475 196,945
Other creditors 23,045 29,610
81,815 1,164,213

8. SECURED DEBTS

Riskend Quarry Company Limited Retirements Benefits Scheme holds standard security over all areas lying to the North East of Pottery Street, Port Glasgow.

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 500,995

10. RELATED PARTY DISCLOSURES

There is balance owed by the directors of £86,193 (2022 - £4,331) as at 31st December 2023. No interest was charged on this balance and there are no formal 2epayment terms.