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REGISTERED NUMBER: 10517013 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NRS WOODCOTE HOLDINGS LTD

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)






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 HOLDINGS LTD

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: 10517013 (England and Wales)





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

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,107,730 2,921,747
Investments 6 100 100
2,107,830 2,921,847

CURRENT ASSETS
Debtors 7 1,960,480 2,001,722
Cash at bank 97,321 37,994
2,057,801 2,039,716
CREDITORS
Amounts falling due within one year 8 2,916,880 3,088,022
NET CURRENT LIABILITIES (859,079 ) (1,048,306 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,248,751

1,873,541

CREDITORS
Amounts falling due after more than one
year

9

(1,054,213

)

(1,622,398

)

PROVISIONS FOR LIABILITIES 11 - (84,162 )
NET ASSETS 194,538 166,981

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 194,537 166,980
SHAREHOLDERS' FUNDS 194,538 166,981

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 WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

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

1. STATUTORY INFORMATION

NRS Woodcote Holdings 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

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 £862,349 (2023: £1,048,306). As shown in the creditors due within one year note, creditors includes amounts owed to group companies of £2,205,333 (2023: £2,507,739). The directors have reviewed the 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 Woodcote Holdings 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, Natural Resource Services Holding Company Limited, NRS House, Site 7 Meriden Park, Cornets End Lane, Meriden, CV7 7LG.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the services are provided to the customer.

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
Plant and machinery- 14.29% and 20% on cost
Fixtures and fittings- 25% on cost

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

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

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 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.

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.

4. EMPLOYEES AND DIRECTORS

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

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 1,607,895 4,807,494 29,059 6,444,448
Additions 81,277 105,893 - 187,170
At 31 March 2024 1,689,172 4,913,387 29,059 6,631,618
DEPRECIATION
At 1 April 2023 626,991 2,867,543 28,167 3,522,701
Charge for year 157,633 842,662 892 1,001,187
At 31 March 2024 784,624 3,710,205 29,059 4,523,888
NET BOOK VALUE
At 31 March 2024 904,548 1,203,182 - 2,107,730
At 31 March 2023 980,904 1,939,951 892 2,921,747

Included in the total net book value of tangible fixed assets held at 31 March 2024 was £1,025,316 (2023: £1,717,767) in respect of assets held under finance leases and hire purchase contracts.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

Fixed asset investments represent a 100% shareholding in the subsidiary company NRS Woodcote Aggregates Ltd. Full details of the investment 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 1,792,210 1,836,722
Deferred tax asset
Accelerated capital allowances 3,270 -
1,795,480 1,836,722

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

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

7. DEBTORS - continued
31.3.24 31.3.23
£    £   
Amounts falling due after more than one year:
Other debtors 165,000 165,000

Aggregate amounts 1,960,480 2,001,722

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 549,176 511,038
Amounts owed to group undertakings 2,305,333 2,507,739
VAT 50,407 38,367
Accrued expenses 11,964 30,878
2,916,880 3,088,022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 1,054,213 1,622,398

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 1,603,389 2,133,436

Hire purchase and finance lease liabilities are secured against the asset to which they relate.

Hire purchase liabilities contains a balance of £1,603,389 (2023: £2,133,436) which is guaranteed by a composite agreement between NRS Woodcote Holdings Ltd, NRS Saredon Holdings Limited and NRS Woodcote Aggregates Ltd.

Any and all company debt with HSBC bank is secured by a debenture dated 10 October 2018 between NRS Woodcote Holdings Ltd and HSBC UK Bank Plc with a fixed and floating charge over all assets currently or at any time afterwards owned by the company.

11. PROVISIONS FOR LIABILITIES
31.3.23
£   
Deferred tax
Accelerated capital allowances 84,162

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

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

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 84,162
Credit to Income Statement during year (87,432 )
Balance at 31 March 2024 (3,270 )

12. 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.

13. 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

14. 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 £nil (2023: £nil).

15. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - 11,674

NRS WOODCOTE HOLDINGS LTD (REGISTERED NUMBER: 10517013)

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

16. 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 Woodcote Holdings Limited. The registered office of the immediate
parent company is the same as that of NRS Woodcote 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 Woodcote 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.

17. 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.