Company registration number 07513626 (England and Wales)
DE LANK QUARRY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
DE LANK QUARRY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DE LANK QUARRY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
151,353
120,592
Current assets
Stocks
5,520
80,250
Debtors
4
492,995
328,894
Cash at bank and in hand
273,838
147,098
772,353
556,242
Creditors: amounts falling due within one year
5
(442,218)
(327,619)
Net current assets
330,135
228,623
Total assets less current liabilities
481,488
349,215
Creditors: amounts falling due after more than one year
6
(10,906)
(21,380)
Provisions for liabilities
(30,970)
(30,101)
Net assets
439,612
297,734
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
439,512
297,634
Total equity
439,612
297,734
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
Mrs C J Phillips
Director
Company Registration No. 07513626
DE LANK QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
De Lank Quarry Limited is a private company limited by shares incorporated in England and Wales. The registered office is Howton Court, Pontrilas, Herefordshire, United Kingdom, HR2 0BG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services provided in the normal cause of business, net of trade discounts, VAT and other sales-related taxes.
Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for services provided.
Revenue from the sale of slate, stone and other associated goods is recognised when the significant risks and rewards of ownership of these goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on cost
Fixtures and fittings
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Financial instruments
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.
DE LANK QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 16 (2023 - 16).
2024
2023
Number
Number
Total
16
16
DE LANK QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2023
176,731
1,068
177,799
Additions
83,300
1,894
85,194
At 30 April 2024
260,031
2,962
262,993
Depreciation and impairment
At 1 May 2023
56,940
267
57,207
Depreciation charged in the year
53,867
566
54,433
At 30 April 2024
110,807
833
111,640
Carrying amount
At 30 April 2024
149,224
2,129
151,353
At 30 April 2023
119,791
801
120,592
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
188,882
122,236
Amounts owed by group undertakings
271,833
191,672
Other debtors
32,280
14,986
492,995
328,894
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,454
9,454
Trade creditors
194,991
189,025
Corporation tax
46,253
17,704
Other taxation and social security
35,703
34,578
Other creditors
155,817
76,858
442,218
327,619
DE LANK QUARRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,906
21,380
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Parent company
The ultimate parent company is BMQ Holdings Limited.
In the opinion of the directors, the ultimate parent company is BMQ Holdings Limited by virtue of its 100% shareholding, who in turn are ultimately controlled by Mr A Phillips and Mrs C Phillips by virtue of their 100% shareholding.
The registered office of BMQ Holdings Limited is: Howton Court, Pontrilas, Herefordshire. United Kingdom. HR2 0BG.
9
Related party transactions
At the year end a balance of £271,833 (2023: £191,672) remained outstanding from BMQ Holdings Limited, and is included in debtors; amounts falling due within one year to fellow group company. Dividends of £nil (2023: £40,000) were paid in the year to BMQ Holdings limited.
The above transactions are related, as the directors of Black Mountain Quarries Limited are also the directors of BMQ Holdings Limited.