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REGISTERED NUMBER: SC294085 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LIMEHILLOCK QUARRIES LTD.

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIMEHILLOCK QUARRIES LTD.

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: C M Murray
Mrs J Murray
R C Murray



SECRETARY: Mrs J Murray



REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS



REGISTERED NUMBER: SC294085 (Scotland)



ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS



BANKERS: Handelsbanken plc
First Floor
Camas House
Fairways Business Park
Inverness
IV2 6AA

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

BALANCE SHEET
31 December 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
1,819,748 Tangible assets 5 1,396,725
100 Investments 6 100
1,819,848 1,396,825

CURRENT ASSETS
961,936 Stocks 5,000
684,148 Debtors 7 776,323
112,340 Cash at bank 120,350
1,758,424 901,673
CREDITORS
1,082,130 Amounts falling due within one year 8 583,507
676,294 NET CURRENT ASSETS 318,166
2,496,142 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,714,991

CREDITORS
(90,306 ) Amounts falling due after more than one
year

9

-

(345,752 ) PROVISIONS FOR LIABILITIES (325,158 )
2,060,084 NET ASSETS 1,389,833

CAPITAL AND RESERVES
5,000 Called up share capital 5,000
2,055,084 Retained earnings 1,384,833
2,060,084 SHAREHOLDERS' FUNDS 1,389,833

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.

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

BALANCE SHEET - 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 10 September 2024 and were signed on its behalf by:




C M Murray - Director



R C Murray - Director


LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Limehillock Quarries Ltd. 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.

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

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Preparation of consolidated financial statements
The financial statements contain information about Limehillock Quarries Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Colin Murray Development Limited, 9 Glasgow Road, Paisley, PA1 3QS.

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.

Turnover
Turnover represents the total invoice value, less credit notes, excluding value added tax, of sales made in the period.

Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue from the hire of products and services is recognised at the time the product is supplied or services have been rendered and accepted. In respect of contracts for ongoing services and quarry sales, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Revenue is measured at the fair value of consideration received or receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same way as owned assets

At each balance sheet date, the company reviews the carrying amount of its tangible assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stocks are valued at the lower of cost and expected selling price less costs to complete and sell, after making due allowance for obsolete or slow moving items.

When stocks are sold, the carrying amount of these stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an expense in the period in which the reversal occurs.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment. Provision is made against the carrying value when the directors consider that there has been a permanent diminution in value.

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. 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 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 and loss account 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 and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts.
Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties and loans to and from related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset settle the liability simultaneously.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 20 ) .

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 January 2023 4,006,121 3,760,125 8,190 216,210 21,596
Additions 243,692 243,692 - - -
Disposals (1,095,975 ) (1,095,975 ) - - -
At 31 December 2023 3,153,838 2,907,842 8,190 216,210 21,596
DEPRECIATION
At 1 January 2023 2,186,373 2,068,370 6,426 101,160 10,417
Charge for year 251,083 227,972 265 17,256 5,590
Eliminated on disposal (680,343 ) (680,343 ) - - -
At 31 December 2023 1,757,113 1,615,999 6,691 118,416 16,007
NET BOOK VALUE
At 31 December 2023 1,396,725 1,291,843 1,499 97,794 5,589
At 31 December 2022 1,819,748 1,691,755 1,764 115,050 11,179

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 1,042,007
Disposals (178,000 )
At 31 December 2023 864,007
DEPRECIATION
At 1 January 2023 319,273
Charge for year 92,013
Eliminated on disposal (68,685 )
At 31 December 2023 342,601
NET BOOK VALUE
At 31 December 2023 521,406
At 31 December 2022 722,734

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 30,800
PROVISIONS
At 1 January 2023
and 31 December 2023 30,700
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 311,048 584,300
Amounts owed by group undertakings 435,000 76,641
Other debtors 30,275 23,207
776,323 684,148

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 10) 93,605 260,504
Trade creditors 44,813 77,129
Amounts owed to group undertakings 377,280 462,280
Taxation and social security 49,120 220,664
Other creditors 18,689 61,553
583,507 1,082,130

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 10) - 90,306

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 97,728 275,785
Between one and five years - 94,334
97,728 370,119

Finance charges repayable:
Within one year 4,123 15,281
Between one and five years - 4,028
4,123 19,309

Net obligations repayable:
Within one year 93,605 260,504
Between one and five years - 90,306
93,605 350,810

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year - 33,596
Between one and five years - 134,385
In more than five years - 229,932
- 397,913

LIMEHILLOCK QUARRIES LTD. (REGISTERED NUMBER: SC294085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 93,605 350,810

The company, together with Las Plant Hire Ltd and Colin Murray Development Ltd, has entered into a group overdraft facility provided by Handelsbanken plc.

Each of the companies has granted a first and only Bond and Floating charge in favour of Svenska Handelsbanken AB (publ), the parent company of Handelsbanken plc, as security for those advances.

In addition:
- there is also an unlimited intercompany composite guarantee granted by this company, Las Plant Hire
Ltd and Colin Murray Development Ltd in respect of each company's borrowing from the Bank.

- The Bank holds a first standard security granted by Colin Murray Development Ltd over land which
that company owns.

Obligations under hire purchase contracts are secured over the assets to which they relate.


12. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - 124,387

13. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent of the company is Colin Murray Development Limited.

The ultimate parent and the largest and smallest group financial statements that consolidate this company is
Colin Murray Development Limited, a company registered in Scotland and whose registered office is 9
Glasgow Road, Paisley, PA1 3QS.

C M Murray and Mrs J Murray indirectly control the company, as a result of holding the majority of the issued
share capital in the ultimate parent company between them.