REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NRS WOODCOTE AGGREGATES LTD |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NRS WOODCOTE AGGREGATES LTD |
NRS WOODCOTE AGGREGATES LTD (REGISTERED NUMBER: 10647819) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NRS WOODCOTE AGGREGATES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Kingsland House |
39 Abbey Foregate |
Shrewsbury |
Shropshire |
SY2 6BL |
NRS WOODCOTE AGGREGATES LTD (REGISTERED NUMBER: 10647819) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
NRS WOODCOTE AGGREGATES LTD (REGISTERED NUMBER: 10647819) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
NRS Woodcote Aggregates Ltd is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
The principal place of business is Woodcote Wood Quarry, 19 Woodcote Hill, Sheriffhales, Shifnal, TF11 8RS. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
These financial statements are for the individual entity only. |
The financial statements are presented in Sterling (£), rounded to the nearest £1. |
Turnover |
Turnover represents net invoiced sales of goods excluding value added tax. Turnover is recognised when goods have been despatched or made available for collection by the customer. |
Stocks |
Stocks are stated at the lower of cost and net realisable value. Costs comprise 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. |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other receivables, amounts due from group companies and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit or loss. |
Financial assets are derecognised when |
(a) the contractual rights to the cash flows from the asset expire or are settled, or |
(b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables and amounts due to group companies, are initially recognised at transaction price and subsequently carried at amortised cost. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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 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. |
NRS WOODCOTE AGGREGATES LTD (REGISTERED NUMBER: 10647819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | ACCOUNTING POLICIES - continued |
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 |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | STOCKS |
31.3.24 | 31.3.23 |
£ | £ |
Aggregate material |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Corporation tax |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
VAT |
Accrued expenses |
NRS WOODCOTE AGGREGATES LTD (REGISTERED NUMBER: 10647819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ordinary shares are entitled to full voting rights and dividends. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | CONTINGENT LIABILITIES |
During a prior year the company entered into a Composite Accounting Agreement with fellow group companies. Under the terms of the agreement and the guarantees given, the bank is authorised to allow set-off for interest purposes and in certain circumstances offset bank balances against liabilities within the Composite Accounting System. |
The contingent liability for the company at 31 March 2024 in respect of group bank borrowings amounted to £1,603,389 (2023: £2,133,436). |
NRS WOODCOTE AGGREGATES LTD (REGISTERED NUMBER: 10647819) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | RELATED PARTY DISCLOSURES |
During the current and prior year transactions occurred between NRS Woodcote Aggregates Ltd and other related parties. Details of these transactions are as follows: |
2024 | 2023 |
£ | £ |
Sales to related party | 435,691 | 248,960 |
Amounts due from related party | 35,756 | 88,381 |
During the period, transactions occurred between NRS Woodcote Aggregates Ltd and other group companies. Details of these transactions are as follows: |
2024 | 2023 |
£ | £ |
Sales to related party | 70,489 | 67,241 |
Amounts due from related party | - | 73,032 |
The immediate parent company is include NRS Woodcote Aggregates Ltd. The registered office of the immediate parent company is the same as that of NRS Woodcote Aggregates Ltd. Group accounts are freely available from Companies House. |
The ultimate parent company is for which consolidated financial statements are prepared which include NRS Woodcote Aggregates Limited. The registered office of the ultimate parent company is The Mill, Morton, Oswestry, Shropshire, SY10 8BH. Group accounts are freely available from Companies House. |
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. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is LAF Holdings Limited, a company registered in England and Wales, by way of its majority shareholding in the parent company. No one person has ultimate control. |