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REGISTERED NUMBER: 08629077 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 July 2024

for

Newlay Asphalt Limited

Newlay Asphalt Limited (Registered number: 08629077)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Newlay Asphalt Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: D. M. Beaumont
J. C. Owen
G. M. Timmins
J. J. Brown





REGISTERED OFFICE: Elite House
Spellowgate
Driffield
East Yorkshire
YO25 5UP





REGISTERED NUMBER: 08629077 (England and Wales)





ACCOUNTANTS: ESR Professionals Limted
Suite B
The Hall
Lairgate
Beverley
East Yorkshire
HU17 8HL

Newlay Asphalt Limited (Registered number: 08629077)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,219,909 3,970,726

CURRENT ASSETS
Stocks 189,922 162,715
Debtors 5 3,321,708 2,589,749
Cash at bank 104,951 85,472
3,616,581 2,837,936
CREDITORS
Amounts falling due within one year 6 2,878,603 2,391,729
NET CURRENT ASSETS 737,978 446,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,957,887

4,416,933

CREDITORS
Amounts falling due after more than one
year

7

(2,603,754

)

(2,572,247

)

PROVISIONS FOR LIABILITIES 9 (641,614 ) (475,837 )
NET ASSETS 1,712,519 1,368,849

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,712,419 1,368,749
SHAREHOLDERS' FUNDS 1,712,519 1,368,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

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 14 November 2024 and were signed on its behalf by:




G. M. Timmins - Director



J. C. Owen - Director


Newlay Asphalt Limited (Registered number: 08629077)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Newlay Asphalt 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 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.

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
Depreciation is provided at the following annual rates in order to write off 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 - 2% on cost
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Stocks
Stocks 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 17 ) .

Newlay Asphalt Limited (Registered number: 08629077)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 370,766 3,945,621 22,605 1,323,171 5,662,163
Additions 2,564 475,618 924 544,200 1,023,306
Disposals - (248,543 ) - (95,500 ) (344,043 )
At 31 July 2024 373,330 4,172,696 23,529 1,771,871 6,341,426
DEPRECIATION
At 1 August 2023 60,734 1,154,767 14,574 461,362 1,691,437
Charge for year 19,894 236,840 2,991 272,206 531,931
Eliminated on disposal - (54,785 ) - (47,066 ) (101,851 )
At 31 July 2024 80,628 1,336,822 17,565 686,502 2,121,517
NET BOOK VALUE
At 31 July 2024 292,702 2,835,874 5,964 1,085,369 4,219,909
At 31 July 2023 310,032 2,790,854 8,031 861,809 3,970,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2023 93,690 747,400 1,296,533 2,137,623
Additions - 440,000 544,200 984,200
Disposals - (239,400 ) (95,500 ) (334,900 )
At 31 July 2024 93,690 948,000 1,745,233 2,786,923
DEPRECIATION
At 1 August 2023 8,126 41,913 450,540 500,579
Charge for year 9,369 29,751 268,252 307,372
Eliminated on disposal - (50,065 ) (47,066 ) (97,131 )
At 31 July 2024 17,495 21,599 671,726 710,820
NET BOOK VALUE
At 31 July 2024 76,195 926,401 1,073,507 2,076,103
At 31 July 2023 85,564 705,487 845,993 1,637,044

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 1,042,277 1,230,714
Other debtors 1,902,445 1,254,729
Directors' current accounts 10,973 27,389
Called up share capital not paid 100 100
Prepayments 365,913 76,817
3,321,708 2,589,749

Newlay Asphalt Limited (Registered number: 08629077)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans 190,000 295,000
Hire purchase contracts 1,044,309 761,450
Trade creditors 1,235,833 1,047,241
Tax - 238
Social security and other taxes 27,411 24,081
VAT 70,661 55,752
Directors' current accounts 294,954 193,069
Accrued expenses 15,435 14,898
2,878,603 2,391,729

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans - 1-2 years 173,183 286,020
Other loans - 2-5 years 231,600 459,042
Hire purchase contracts 2,198,971 1,827,185
2,603,754 2,572,247

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Hire purchase contracts 3,243,280 2,588,635

Hire purchase agreements are secured against the relevant assets.

9. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 641,614 475,837

Deferred
tax
£   
Balance at 1 August 2023 475,837
Provided during year 165,777
Balance at 31 July 2024 641,614