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REGISTERED NUMBER: 11358472 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NRS KIDDERMINSTER HOLDINGS LIMITED

NRS KIDDERMINSTER HOLDINGS LIMITED (REGISTERED NUMBER: 11358472)






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 KIDDERMINSTER HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M C Ketcher
K D Montgomery
D Forder





SECRETARY: Ms L J Shirley





REGISTERED OFFICE: NRS House
Site 7, Meriden Park
Cornets End Lane
Meriden
CV7 7LG





REGISTERED NUMBER: 11358472 (England and Wales)





AUDITORS: D.R.E. & Co. (Audit) Limited
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

NRS KIDDERMINSTER HOLDINGS LIMITED (REGISTERED NUMBER: 11358472)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 982,167 891,422
Investments 6 200 200
982,367 891,622

CURRENT ASSETS
Debtors 7 881,359 876,798
Cash at bank 67,069 16,049
948,428 892,847
CREDITORS
Amounts falling due within one year 8 1,946,637 1,796,934
NET CURRENT LIABILITIES (998,209 ) (904,087 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,842

)

(12,465

)

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (15,843 ) (12,466 )
SHAREHOLDERS' FUNDS (15,842 ) (12,465 )

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 15 November 2024 and were signed on its behalf by:





M C Ketcher - Director


NRS KIDDERMINSTER HOLDINGS LIMITED (REGISTERED NUMBER: 11358472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

NRS Kidderminster Holdings Limited 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 Lea Castle Farm, Wolverley , Kidderminster, Worcestershire.

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.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), rounded to the nearest £1.

At the balance sheet date the company had net current liabilities of £998,209 (2023: £904,087) and net liabilities of £15,842 (2023: £12,465). As shown in the creditors due within one year note, creditors includes amounts owed to group companies of £1,938,117 (2023: £1,792,734).

Uncertainty remains at year end over the viability of a site held by the company for trading, a substantial amount has been invested into the site which if not passed for planning would have to be considered for impairment. Any costs that would be impaired are covered by a repayment agreement and charges held over property purchased on the site.

The directors have considered the above and confident that they retain support of group companies and fully expect it to continue for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about NRS Kidderminster Holdings Limited 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, Natural Resource Services Holding Company Limited, NRS House,Site 7 Meriden Park, Cornets End Lane, Meriden, CV7 7LG.

Tangible fixed assets
Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Improvements to property- 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

NRS KIDDERMINSTER HOLDINGS LIMITED (REGISTERED NUMBER: 11358472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

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 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 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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

NRS KIDDERMINSTER HOLDINGS LIMITED (REGISTERED NUMBER: 11358472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements
to
property
£   
COST
At 1 April 2023 891,422
Additions 90,745
At 31 March 2024 982,167
NET BOOK VALUE
At 31 March 2024 982,167
At 31 March 2023 891,422

Included within tangible fixed assets are various sites at various stages of the planning approval process, all of which are expected to provide future benefits and no impairment is deemed necessary.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 200
NET BOOK VALUE
At 31 March 2024 200
At 31 March 2023 200

Fixed asset investments represent 100% shareholdings in the subsidiary companies NRS Kidderminster Aggregates Limited and NRS Bromsgrove Aggregates Limited, both of which have the same registered office as NRS Kidderminster Holdings Limited. Full details of the investments can be found in the consolidated accounts prepared by the parent company Natural Resource Services Holding Company Limited.

7. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 10,566 -
VAT 793 6,798
11,359 6,798

Amounts falling due after more than one year:
Other debtors 870,000 870,000

Aggregate amounts 881,359 876,798

NRS KIDDERMINSTER HOLDINGS LIMITED (REGISTERED NUMBER: 11358472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,900 -
Amounts owed to group undertakings 1,938,117 1,792,734
Accrued expenses 4,620 4,200
1,946,637 1,796,934

9. SECURED DEBTS

Any and all company debt with HSBC bank is secured by a debenture dated 14 August 2019 between NRS Kidderminster Holdings Limited and HSBC UK Bank Plc with a fixed and floating charge over all assets currently or at any time afterwards owned by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
51 Ordinary £0.01 1 1
49 A Ordinary £0.01 - -
1 1

Ordinary shares are entitled to full voting rights and dividends.

A Ordinary shares are entitled to full voting rights and dividends.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Francis Nock F.C.C.A. (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited

12. RELATED PARTY DISCLOSURES

The immediate parent company is Natural Resource Services Holding Company Limited. Natural Resource
Services Holding Company Limited is the parent of the smallest group for which consolidated financial
statements are prepared, which include NRS Kidderminster Holdings Limited. The registered office of the
immediate parent company is the same as that of NRS Kidderminster Holdings Limited. Group accounts are
freely available from Companies House.

The ultimate parent company is LAF Holdings Limited. LAF Holdings Limited is the parent of the largest group
for which consolidated financial statements are prepared which include NRS Kidderminster Holdings 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.