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REGISTERED NUMBER: 01803280 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

L & R Roadlines Limited

L & R Roadlines Limited (Registered number: 01803280)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


L & R Roadlines Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M J Littleboy
M Oakes





REGISTERED OFFICE: Albert House
6 Cloister Way
Ellesmere Port
Cheshire
CH65 4EL





REGISTERED NUMBER: 01803280 (England and Wales)





AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

L & R Roadlines Limited (Registered number: 01803280)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

The company work as road marking, road safety surfacing and road repair contractors.

REVIEW OF BUSINESS
A summary of the results of the business is shown below.

The key financial highlights are as below:

31.12.23 31.12.22 31.12.21
£
Turnover 10,896,894 10,321,858 8,999,525
Gross profit margin 34.8% 34.1% 42.4%
Profit before tax 891,068 328,092 1.580.063

The company continues in its long term goal to grow its service provision offering.

Gross profit margin has decreased due to the increase in supplier prices.

The Company holds certification for ISO9001 (Quality), ISO14001 (Environmental) and this period also achieved certification for ISO45001 (Health & Safety).

PERFORMANCE MANAGEMENT
Long term financial plans are developed by the Directors to target improved performance in all areas of the business. On a monthly basis, the Directors review the performance of the group by comparing actual results against prior year achievements and analysing the results where necessary. Particular emphasis is placed upon monitoring turnover, operating costs, cash flows and working capital levels.

PRINCIPAL RISKS AND UNCERTAINTIES
There are a number of potential risks and uncertainties, which could have a material impact on the Company's long-term performance and cause actual results to materially differ from expected and historic results.

The risk management process seeks to enable the early identification, evaluation and effective management of the key risks facing the Company at an operational level and to operate internal controls that adequately mitigate these risks. The Directors have identified the following to be the principal risks and uncertainties that could have the most significant impact upon the group's value generation.

Operational risk:

Competitor environment and customer risk
There is strong competition within the market in which the Company operates. The Company manages the risk of potential loss of customers to competitors by maintaining strong customer and supplier relationships. Delivering high levels of support and quality supports this process. The monitoring of KPIs including service levels and customer complaints enables the business to ensure it offers strong customer service, quality products and innovative product development.

State of the economy
The global economic recovery continues at a slow pace. A relapse could adversely impact sales and ultimately lower profitability and cash flow. Although the Company cannot directly influence the general economic conditions, the Company has the ability to adapt very quickly to changes in customer trends.

Financial risk:

Credit risk

L & R Roadlines Limited (Registered number: 01803280)

Strategic Report
for the Year Ended 31 December 2023

A large proportion of the sales are made on credit terms. Granting of credit to inappropriate parties or the failure to collect debts on a timely basis could leave the Company exposed to losses. The Company maintains strong relationships with its customers and has established credit control procedures. Credit evaluations are performed on all customers requiring credit and outstanding debts are continuously monitored.

DEVELOPMENTS AND PERFORMANCE
The Directors are continuing with the implementation of computerised managerial information systems which will reduce time and improve internal procedures. Marketing and the further development of the Company's website have played an important role in achieving continued success.

EMPLOYMENT POLICY
The Director's believe employees are one of the most valuable assets to any company. The Company has a very low staff turnover and prides itself in treating our staff well and this is key to the business. The Company offers training in a variety of disciplines. It also endeavours, whenever possible to promote from within the current workforce.

The Company is committed to offering equal opportunities to all individuals through recruitment, training and career development. Full and fair consideration is given to applicants with disabilities and every effort is made to give employees who become disabled while employed by the Company, an opportunity for retraining.

RISK OF BUSINESS INTERRUPTION
The company has continued to trade strongly throughout the Coronavirus pandemic. The directors have considered the potential future impact of the pandemic and note that the company has adequate reserves in place to meet all financial commitments as they fall due.

ON BEHALF OF THE BOARD:





M J Littleboy - Director


11 April 2024

L & R Roadlines Limited (Registered number: 01803280)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
L&R Roadlines provide a comprehensive service to install road markings, road safety surfacing and road repair products.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

RESEARCH AND DEVELOPMENT
The research and development of new materials is ongoing, and we are at the forefront of technology, for the introduction of new materials for the roadmarking industry.

FUTURE DEVELOPMENTS
Future developments include the growth of the more profitable contracts of the business.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

M J Littleboy
M Oakes

CHARITABLE DONATIONS
In the period the company donated a total of £3,358 (2022: £3,005) to charitable causes.

EMPLOYEES
The company is involved in the apprenticeship scheme in the workshop and administration and accounts department. The individual employees are receiving full training to deal with a fast growing administration/accounts department including all training on the new software systems.

The company has a Health and Safety Manager, who is working closely with all operatives and is implementing a new training program for all staff.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial period. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

L & R Roadlines Limited (Registered number: 01803280)

Report of the Directors
for the Year Ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M J Littleboy - Director


11 April 2024

Report of the Independent Auditors to the Members of
L & R Roadlines Limited

Opinion
We have audited the financial statements of L & R Roadlines Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
L & R Roadlines Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect
fraud;
- Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
- Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with
applicable law and regulations;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations.

Our audit did not identify any significant matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
L & R Roadlines Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Francis Murphy, FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

11 April 2024

L & R Roadlines Limited (Registered number: 01803280)

Statement of Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £ £

TURNOVER 3 10,896,894 10,321,858

Cost of sales 7,107,205 6,806,559
GROSS PROFIT 3,789,689 3,515,299

Administrative expenses 2,973,629 3,260,100
816,060 255,199

Other operating income 31,304 36,145
OPERATING PROFIT 5 847,364 291,344

Interest receivable and similar income 6 43,704 36,748
PROFIT BEFORE TAXATION 891,068 328,092

Tax on profit 7 199,769 120,760
PROFIT FOR THE FINANCIAL YEAR 691,299 207,332

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

691,299

207,332

L & R Roadlines Limited (Registered number: 01803280)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 1,815,384 1,193,612

CURRENT ASSETS
Stocks 10 100,459 201,293
Debtors 11 4,476,016 5,041,838
Cash at bank and in hand 306,704 867,111
4,883,179 6,110,242
CREDITORS
Amounts falling due within one year 12 687,522 2,139,561
NET CURRENT ASSETS 4,195,657 3,970,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,011,041

5,164,293

PROVISIONS FOR LIABILITIES 14 355,479 200,030
NET ASSETS 5,655,562 4,964,263

CAPITAL AND RESERVES
Called up share capital 15 500 500
Capital redemption reserve 16 500 500
Retained earnings 16 5,654,562 4,963,263
SHAREHOLDERS' FUNDS 5,655,562 4,964,263

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





M J Littleboy - Director


L & R Roadlines Limited (Registered number: 01803280)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£ £ £ £
Balance at 1 January 2022 500 6,005,931 500 6,006,931

Changes in equity
Dividends - (1,250,000 ) - (1,250,000 )
Total comprehensive income - 207,332 - 207,332
Balance at 31 December 2022 500 4,963,263 500 4,964,263

Changes in equity
Total comprehensive income - 691,299 - 691,299
Balance at 31 December 2023 500 5,654,562 500 5,655,562

L & R Roadlines Limited (Registered number: 01803280)

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

1. STATUTORY INFORMATION

L & R Roadlines 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006, including the provisions of the Large and Medium sized Companies and Groups (Accounts and Reports) Regulations 2008. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
There are no key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
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
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Improvements to property 4% straight line
Plant and machinery 12.5% straight line
Fixtures, fittings & equipment12.5% & 25% straight line
Motor vehicles25% straight line

Both the useful life and residual value of the assets within the financial statements have been reviewed. The entity have changed the above accounting estimates from reducing balance to a straight line basis of depreciation and have applied the change with effect from 1st January 2022.

Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.

Amounts recoverable on contracts, which are included in work in progress, are stated at the net sales value of the work done less amounts received as progress payments on account.


L & R Roadlines Limited (Registered number: 01803280)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The group only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and directors loan accounts (being repayable on demand).The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and loans to related parties. Trade and other debtors are measured at transaction price less any impairment. Trade and other creditors are measured at 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.

L & R Roadlines Limited (Registered number: 01803280)

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

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.12.23 31.12.22
£ £
United Kingdom 10,896,894 10,321,858
10,896,894 10,321,858

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£ £
Wages and salaries 3,463,813 3,511,803
Social security costs 382,423 411,430
Other pension costs 75,275 87,142
3,921,511 4,010,375

The average number of employees during the year was as follows:
31.12.23 31.12.22

Administrative 21 22
Operative 61 59
82 81

31.12.23 31.12.22
£ £
Directors' remuneration 195,600 258,866
Directors' pension contributions to money purchase schemes 2,642 2,642

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Key management personnel
The directors are considered to be key management personnel for the current period and previous year. Their benefits are noted above.

L & R Roadlines Limited (Registered number: 01803280)

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

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£ £
Depreciation - owned assets 385,674 585,377
Profit on disposal of fixed assets (50,171 ) (45,893 )
Auditors' remuneration 10,000 13,000
Other non- audit services 12,663 19,379

6. INTEREST RECEIVABLE AND SIMILAR INCOME
31.12.23 31.12.22
£ £
Deposit account interest - 6,913
Intercompany interest received 43,704 29,835
43,704 36,748

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£ £
Current tax:
UK corporation tax 44,320 116,488

Deferred tax 155,449 4,272
Tax on profit 199,769 120,760

L & R Roadlines Limited (Registered number: 01803280)

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

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£ £
Profit before tax 891,068 328,092
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

222,767

62,337

Effects of:
Expenses not deductible for tax purposes 871 10,415
Income not taxable for tax purposes (12,543 ) (8,719 )
Capital allowances in excess of depreciation (163,988 ) -
Depreciation in excess of capital allowances - 52,455
Deferred tax 155,449 4,272

Effect of changes in tax rate (2,787 ) -
Total tax charge 199,769 120,760

8. DIVIDENDS
31.12.23 31.12.22
£ £
Ordinary shares of £1 each
Final - 1,250,000

L & R Roadlines Limited (Registered number: 01803280)

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

9. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and Motor
to property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 January 2023 9,182 4,192,682 268,316 391,051 4,861,231
Additions 102,956 854,959 15,910 42,078 1,015,903
Disposals - (237,503 ) - (28,170 ) (265,673 )
At 31 December 2023 112,138 4,810,138 284,226 404,959 5,611,461
DEPRECIATION
At 1 January 2023 306 3,463,227 225,036 (20,950 ) 3,667,619
Charge for year 1,278 278,515 17,975 87,906 385,674
Eliminated on disposal - (229,049 ) - (28,167 ) (257,216 )
Reclassification/transfer - (173,742 ) - 173,742 -
At 31 December 2023 1,584 3,338,951 243,011 212,531 3,796,077
NET BOOK VALUE
At 31 December 2023 110,554 1,471,187 41,215 192,428 1,815,384
At 31 December 2022 8,876 729,455 43,280 412,001 1,193,612

10. STOCKS
31.12.23 31.12.22
£ £
Work-in-progress 8,753 29,089
Finished goods 91,706 172,204
100,459 201,293

11. DEBTORS
31.12.23 31.12.22
£ £
Amounts falling due within one year:
Trade debtors 1,963,433 1,310,801
Amounts owed by group undertakings 1,463,871 3,545,198
Other debtors 233 1,660
VAT 111,070 85,419
Prepayments 110,409 98,760
3,649,016 5,041,838

Amounts falling due after more than one year:
Amounts owed by group undertakings 827,000 -

Aggregate amounts 4,476,016 5,041,838

L & R Roadlines Limited (Registered number: 01803280)

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

11. DEBTORS - continued

Amounts owed from group undertakings are unsecured and bare quarterly interests at an average rate of 1.2% or are interest free.

Trade debtors are stated after provisions for bad and doubtful debts of £11,678 (2022: NIL) and have been recognised within administrative expenses.

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade creditors 420,319 299,331
Amounts owed to group undertakings - 1,379,197
Tax (31,472 ) 116,488
Social security and other taxes 127,193 93,503
Other creditors 19,033 16,723
Accrued expenses 152,449 234,319
687,522 2,139,561

Amounts owed to group undertakings are unsecured and bare quarterly interests at an average rate of 1.2% are interest free.

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£ £
Within one year 54,673 47,500
Between one and five years 25,703 47,500
80,376 95,000

Lease payments recognised as an expense within the financial year amount to £50,145 (2022: £47,500).

14. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£ £
Deferred tax 355,479 200,030

Deferred tax
£
Balance at 1 January 2023 200,030
Provided during year 155,449
Balance at 31 December 2023 355,479

L & R Roadlines Limited (Registered number: 01803280)

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

14. PROVISIONS FOR LIABILITIES - continued

The deferred tax liability set out above is expected to reverse within the foreseeable future and relates to accelerated capital allowances and other short term timing differences.

In the budget on 3 March 2021, the UK Government announced an increase in the main UK corporation tax rate from 19% to 25% with effect from 1 April 2023. The change in rate was substantively enacted on 24 May 2021. Deferred tax has been calculated at 25% (2022 - 25%) which was the tax rate substantively enacted at 30 April 2022.

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
500 Ordinary £1 500 500

Called up share capital - Represents the nominal value of shares that have been issued. The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.

16. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 January 2023 4,963,263 500 4,963,763
Profit for the year 691,299 691,299
At 31 December 2023 5,654,562 500 5,655,062

Retained earnings - Includes all current and prior period retained profits and losses.
Capital redemption reserve - Includes all current and prior period capital redemption reserves.

17. PENSION COMMITMENTS

A defined contribution pension scheme is operated by the company. The assets of the scheme are held separately from those of the company in an independently administered fund. At 31 December 2023 pension contributions of £19,033 (2022: £16,723) were payable and included within other creditors.

18. RELATED PARTY DISCLOSURES

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.

L & R Roadlines Limited (Registered number: 01803280)

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

19. ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

The immediate parent undertaking of the company is Hitex Holdings Limited, a company incorporated in England and Wales.

On 25 October 2021 Swarco AG purchased the entire share capital of Hitex Holdings Limited. Following this, MS Management GmbH, a company incorporated in Austria became the ultimate parent company. Swarco AG is the only group of undertakings to consolidate these financial statements at 31 December 2023. The address is below;

SWARCO AG
Blattenwaldweg 8
6112 Wattens
Austria

The ultimate controlling party is the board of directors of MS Management GmbH by virtue of their shareholdings.