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Registration number: 08813044

County Town Aggregates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

County Town Aggregates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

County Town Aggregates Limited

Company Information

Directors

Mr Gregory Owen Walker

Mrs Victoria Louise Walker

Registered office

Unit D Green Barn
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG

Accountants

Hatherleigh Limited
Chartered Accountants & Business Advisers
Unit D Green Barn
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG

 

County Town Aggregates Limited

(Registration number: 08813044)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

421,417

353,761

Current assets

 

Stocks

5

454,544

350,270

Debtors

6

142,389

172,241

Cash at bank and in hand

 

139,159

108,697

 

736,092

631,208

Creditors: Amounts falling due within one year

7

(327,205)

(215,646)

Net current assets

 

408,887

415,562

Total assets less current liabilities

 

830,304

769,323

Creditors: Amounts falling due after more than one year

7

(410,377)

(427,114)

Provisions for liabilities

(105,354)

(67,215)

Net assets

 

314,573

274,994

Capital and reserves

 

Called up share capital

8

130

130

Retained earnings

314,443

274,864

Shareholders' funds

 

314,573

274,994

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2024 and signed on its behalf by:
 

 

County Town Aggregates Limited

(Registration number: 08813044)
Balance Sheet as at 31 December 2023

.........................................
Mr Gregory Owen Walker
Director

.........................................
Mrs Victoria Louise Walker
Director

 

County Town Aggregates Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit D Green Barn
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG

These financial statements were authorised for issue by the Board on 19 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

County Town Aggregates Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

County Town Aggregates Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

County Town Aggregates Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 7).

 

County Town Aggregates Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

87,017

568,041

655,058

Additions

45,518

240,491

286,009

At 31 December 2023

132,535

808,532

941,067

Depreciation

At 1 January 2023

51,403

249,894

301,297

Charge for the year

20,283

198,070

218,353

At 31 December 2023

71,686

447,964

519,650

Carrying amount

At 31 December 2023

60,849

360,568

421,417

At 31 December 2022

35,614

318,147

353,761

5

Stocks

2023
£

2022
£

Other inventories

454,544

350,270

6

Debtors

Current

2023
£

2022
£

Trade debtors

105,402

138,441

Other debtors

36,987

33,800

 

142,389

172,241

7

Creditors

Creditors: amounts falling due within one year

 

County Town Aggregates Limited

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

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

112,804

90,299

Trade creditors

 

205,620

98,953

Taxation and social security

 

1,843

14,073

Accruals and deferred income

 

1,900

1,900

Other creditors

 

5,038

10,421

 

327,205

215,646

 

County Town Aggregates Limited

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

410,377

427,114

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Class A shares of £1 each

100

100

100

100

Class B shares of £1 each

10

10

10

10

Class C shares of £1 each

10

10

10

10

Class D shares of £1 each

10

10

10

10

130

130

130

130

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Finance lease liabilities

368,577

332,546

Other borrowings

41,800

94,568

410,377

427,114

Current loans and borrowings

2023
£

2022
£

Finance lease liabilities

112,804

90,299

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £2,645.00 per each Class D shares

26,450

26,450

Interim dividend of £Nil per each Class C shares

-

-

26,450

26,450

 

County Town Aggregates Limited

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

11

Related party transactions

 

County Town Aggregates Limited

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

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr Gregory Owen Walker

The director maintains an interest free loan with the company which is repayable upon demand

5,211

(16,286)

13,225

2,150

Mrs Victoria Louise Walker

The director maintains an interest free loan with the company which is repayable upon demand

5,210

(16,285)

13,225

2,150

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr Gregory Owen Walker

The director maintains an interest free loan with the company which is repayable upon demand

4,071

(12,900)

14,040

5,211

Mrs Victoria Louise Walker

The director maintains an interest free loan with the company which is repayable upon demand

4,071

(12,900)

14,039

5,210