IRIS Accounts Production v24.3.0.553 01501427 Board of Directors Board of Directors 30.4.24 1.5.23 30.4.24 30.4.24 the supply of roadstone and concrete aggregate materials. true true true false true true false false false false false false true false Fair value model Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015014272023-04-30015014272024-04-30015014272023-05-012024-04-30015014272022-04-30015014272022-05-012023-04-30015014272023-04-3001501427ns15:EnglandWales2023-05-012024-04-3001501427ns14:PoundSterling2023-05-012024-04-3001501427ns10:Director12023-05-012024-04-3001501427ns10:Director22023-05-012024-04-3001501427ns10:Consolidated2024-04-3001501427ns10:ConsolidatedGroupCompanyAccounts2023-05-012024-04-3001501427ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3001501427ns10:Consolidatedns10:FRS1022023-05-012024-04-3001501427ns10:Consolidatedns10:Audited2023-05-012024-04-3001501427ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3001501427ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3001501427ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-05-012024-04-3001501427ns10:FullAccounts2023-05-012024-04-3001501427ns5:Subsidiary12023-05-012024-04-3001501427ns5:Subsidiary22023-05-012024-04-3001501427ns5:Subsidiary32023-05-012024-04-3001501427ns5:Subsidiary42023-05-012024-04-3001501427ns10:OrdinaryShareClass12023-05-012024-04-3001501427ns10:Consolidated2023-05-012024-04-3001501427ns10:Director32023-05-012024-04-3001501427ns10:Director42023-05-012024-04-3001501427ns10:RegisteredOffice2023-05-012024-04-3001501427ns10:Consolidated2022-05-012023-04-3001501427ns5:CurrentFinancialInstruments2024-04-3001501427ns5:CurrentFinancialInstruments2023-04-3001501427ns5:ShareCapital2024-04-3001501427ns5:ShareCapital2023-04-3001501427ns5:RetainedEarningsAccumulatedLosses2024-04-3001501427ns5:RetainedEarningsAccumulatedLosses2023-04-3001501427ns5:ShareCapital2022-04-3001501427ns5:RetainedEarningsAccumulatedLosses2022-04-3001501427ns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-3001501427ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-300150142712023-05-012024-04-3001501427ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-05-012024-04-3001501427ns5:PlantMachinery2023-05-012024-04-3001501427ns5:FurnitureFittings2023-05-012024-04-3001501427ns5:MotorVehicles2023-05-012024-04-3001501427ns5:ComputerEquipment2023-05-012024-04-3001501427ns5:LandBuildings2023-04-3001501427ns5:PlantMachinery2023-04-3001501427ns5:LandBuildings2023-05-012024-04-3001501427ns5:LandBuildings2024-04-3001501427ns5:PlantMachinery2024-04-3001501427ns5:LandBuildings2023-04-3001501427ns5:PlantMachinery2023-04-3001501427ns5:CostValuation2023-04-3001501427ns5:Subsidiary112023-05-012024-04-30015014273ns5:Subsidiary22023-05-012024-04-3001501427ns5:Subsidiary352023-05-012024-04-30015014277ns5:Subsidiary42023-05-012024-04-3001501427ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3001501427ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3001501427ns5:Non-currentFinancialInstruments2024-04-3001501427ns5:Non-currentFinancialInstruments2023-04-3001501427ns10:OrdinaryShareClass12024-04-3001501427ns5:RetainedEarningsAccumulatedLosses2023-04-30
REGISTERED NUMBER: 01501427 (England and Wales)















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MARCHINGTON GROUP LIMITED

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


MARCHINGTON GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J A Marchington
L Marchington
A D Marchington
J M Marchington





REGISTERED OFFICE: 105 Buxton Road
High Lane
Stockport
Cheshire
SK6 8DX





REGISTERED NUMBER: 01501427 (England and Wales)





AUDITORS: Harold Sharp Limited
Statutory Auditors and Chartered Accountants
5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
Strategy

The strategy of the company is to maintain profitable trading and growth through its main activities of the production and sale of Construction Aggregates, Sand, Gravel and Block stone.

Our commitment to the health, safety and wellbeing of our employees and contractors remains paramount. We aim to minimise our impact on the environment and provide a safe and high quality service to our customers.

The business has retained its accreditations for ISO 9001 (Quality), ISO 14001 (Environmental Management) and ISO 45001 (Health & Safety) and are committed to continual improvement across these standards. We have further committed to develop our IT system to streamline our delivery service and related administrative processes.

We have calculated our carbon footprint and have established a roadmap to Net Zero. We continue to purchase energy from 100% renewable sources, are investigating alternative energy sources for our offices and plant and have maintained the number of hybrid vehicles for our motor fleet.

The results for the year and financial position for the company are set out in the financial statements and the directors anticipate that profitable operation will continue in the future.

PRINCIPAL RISKS AND UNCERTAINTIES
The cancellation of HS2 and other infrastructure projects within the region has seen output reduce throughout the industry and increased pressure on an already competitive market. This has affected every aspect of the construction supply chain. The business has focused on maintaining a diverse customer base which has mitigated much of the reduction in demand.

Fuel/Energy Costs

Whilst the cost of fuel has stabilised, this continues to significantly affect our haulage cost and quarry operations.

Mineral resources/planning

Mineral resources are finite and governed by robust planning conditions. Our quarrying operations are secure with long term planning in place.

The Economy and its effect on the construction sector

As expected, general construction activity slowed during the year. The Housing market is forecast to recover as interest rates fall which will be reflected in a reduction of mortgage rates. A change of Government in July will also potentially bring more confidence to the market with forecast changes to the planning system and a promise of increased house building.

Credit Risk

Relatively high interest rates continue to put pressure on companies. We have continued to see businesses stretch their terms, both credit limits and debtor days. We credit check potential and existing customers and continue to apply robust policies and procedures in all aspects of our credit control process.

Financial

The company is governed by a robust set of financial KPIs that are relevant to the industry. These are continuously monitored and the Directors are satisfied with the company's performance.


MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

FUTURE DEVELOPMENTS
The company is committed to the acquisition of further sites for mineral extraction and processing in order to maintain a sustainable and continuous supply of materials to our customers.

ON BEHALF OF THE BOARD:





A D Marchington - Director


19 November 2024

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

DIVIDENDS
A dividend of £300,000 (2023: £300,000) was paid in the year.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

J A Marchington
L Marchington
A D Marchington
J M Marchington

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





A D Marchington - Director


19 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARCHINGTON GROUP LIMITED


Opinion
We have audited the financial statements of Marchington Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARCHINGTON GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARCHINGTON GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:
- We enquired of management the systems and controls the group and parent company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.
- We obtained an understanding of the legal and regulatory frameworks applicable to the group and parent company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety, and employment law.
- We considered the incentives and opportunities that exist in the group and parent company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
- Using our knowledge of the group and parent company, together with the discussions held with management at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.
- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.
- Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation.
- Testing key revenue lines, in particular cut-off, for evidence of management bias.
- Obtaining third-party confirmation of material bank balances.
- Documenting and verifying all significant related party and consolidated balances and transactions.
- Reviewing documentation such as board minutes for discussions of irregularities including fraud,
- Testing all material consolidation adjustments.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors and management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARCHINGTON GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Andrew Copping (Senior Statutory Auditor)
for and on behalf of Harold Sharp Limited
Statutory Auditors and Chartered Accountants
5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

19 November 2024

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   

TURNOVER 3 35,281,753 34,547,271

Cost of sales (30,569,795 ) (29,935,553 )
GROSS PROFIT 4,711,958 4,611,718

Distribution costs (803,329 ) (772,232 )
Administrative expenses (1,986,778 ) (2,052,764 )
1,921,851 1,786,722

Other operating income 64,470 76,660
OPERATING PROFIT 5 1,986,321 1,863,382

Interest receivable and similar income 257,732 21,237
PROFIT BEFORE TAXATION 2,244,053 1,884,619

Tax on profit 6 (573,063 ) (382,829 )
PROFIT FOR THE FINANCIAL YEAR 1,670,990 1,501,790
Profit attributable to:
Owners of the parent 1,670,990 1,501,790

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,670,990 1,501,790


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,670,990

1,501,790

Total comprehensive income attributable to:
Owners of the parent 1,670,990 1,501,790

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

CONSOLIDATED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 1,688,777 2,320,966
Investments 10 - -
Investment property 11 463,526 -
2,152,303 2,320,966

CURRENT ASSETS
Debtors 12 6,345,033 7,013,612
Cash at bank and in hand 8,529,535 6,651,854
14,874,568 13,665,466
CREDITORS
Amounts falling due within one year 13 6,686,789 6,961,602
NET CURRENT ASSETS 8,187,779 6,703,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,340,082

9,024,830

PROVISIONS FOR LIABILITIES 16 132,569 188,307
NET ASSETS 10,207,513 8,836,523

CAPITAL AND RESERVES
Called up share capital 17 4,002 4,002
Capital reserve 18 117,840 117,840
Retained earnings 18 10,085,671 8,714,681
SHAREHOLDERS' FUNDS 10,207,513 8,836,523

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




A D Marchington - Director



J M Marchington - Director


MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

COMPANY BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 800,971 1,270,735
Investments 10 15,078 15,078
Investment property 11 463,526 -
1,279,575 1,285,813

CURRENT ASSETS
Debtors 12 17,324 40,072
Cash at bank and in hand 2,604,646 1,516,818
2,621,970 1,556,890
CREDITORS
Amounts falling due within one year 13 33,493 34,206
NET CURRENT ASSETS 2,588,477 1,522,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,868,052

2,808,497

CAPITAL AND RESERVES
Called up share capital 17 4,002 4,002
Retained earnings 18 3,864,050 2,804,495
SHAREHOLDERS' FUNDS 3,868,052 2,808,497

Company's profit for the financial year 1,359,555 1,663,882

The financial statements have been prepared 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 19 November 2024 and were signed on its behalf by:




A D Marchington - Director



J M Marchington - Director


MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Capital Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 May 2022 4,002 7,512,891 117,840 7,634,733

Changes in equity
Dividends - (300,000 ) - (300,000 )
Total comprehensive income - 1,501,790 - 1,501,790
Balance at 30 April 2023 4,002 8,714,681 117,840 8,836,523

Changes in equity
Dividends - (300,000 ) - (300,000 )
Total comprehensive income - 1,670,990 - 1,670,990
Balance at 30 April 2024 4,002 10,085,671 117,840 10,207,513

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 4,002 1,440,613 1,444,615

Changes in equity
Dividends - (300,000 ) (300,000 )
Total comprehensive income - 1,663,882 1,663,882
Balance at 30 April 2023 4,002 2,804,495 2,808,497

Changes in equity
Dividends - (300,000 ) (300,000 )
Total comprehensive income - 1,359,555 1,359,555
Balance at 30 April 2024 4,002 3,864,050 3,868,052

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,551,270 1,111,556
Tax paid (465,028 ) (160,857 )
Net cash from operating activities 2,086,242 950,699

Cash flows from investing activities
Purchase of tangible fixed assets (171,759 ) (517,826 )
Sale of tangible fixed assets 65,001 86,200
Interest received 257,732 21,237
Net cash from investing activities 150,974 (410,389 )

Cash flows from financing activities
Amount introduced by directors - 52,742
Amount withdrawn by directors (59,535 ) -
Equity dividends paid (300,000 ) (300,000 )
Net cash from financing activities (359,535 ) (247,258 )

Increase in cash and cash equivalents 1,877,681 293,052
Cash and cash equivalents at beginning of
year

2

6,651,854

6,358,802

Cash and cash equivalents at end of year 2 8,529,535 6,651,854

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 2,244,053 1,884,619
Depreciation charges 284,898 330,744
Loss/(profit) on disposal of fixed assets 523 (52,045 )
Finance income (257,732 ) (21,237 )
2,271,742 2,142,081
Decrease/(increase) in trade and other debtors 668,579 (1,178,548 )
(Decrease)/increase in trade and other creditors (389,051 ) 148,023
Cash generated from operations 2,551,270 1,111,556

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30/4/24 1/5/23
£    £   
Cash and cash equivalents 8,529,535 6,651,854
Year ended 30 April 2023
30/4/23 1/5/22
£    £   
Cash and cash equivalents 6,651,854 6,358,802


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/5/23 Cash flow At 30/4/24
£    £    £   
Net cash
Cash at bank and in hand 6,651,854 1,877,681 8,529,535
6,651,854 1,877,681 8,529,535
Debt
Finance leases - (10,000 ) (10,000 )
- (10,000 ) (10,000 )
Total 6,651,854 1,867,681 8,519,535

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Marchington Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01501427 and the registered office is 105 Buxton Road, High Lane, Stockport, Cheshire, SK6 8DX.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The functional and presentation currency is £ sterling.

Basis of consolidation
The group accounts include the audited accounts of the company and its wholly owned subsidiaries made up to 30 April. Subsidiaries are included from the date of acquisition.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Trade debtors recoverability
Amounts recoverable on trade debtors are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. The directors make estimates as to the recoverability of these debts and provide for them accordingly.

Provisions
A provision is recognised in the balance sheet when the entity has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Over periods of between 20 and 100 years and not depreciated
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investment property
Investment property is revalued annually and included in the balance sheet at its open market value, which is estimated by the directors. Changes in the market value are taken to the income statement.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade debtors, amounts receivable from group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, other creditors, and directors loan accounts that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.


MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At 30 April 2024 the group had made a profit for the year of £1,670,990 and had net assets of £10,207,513. The company and group have healthy cash reserves and having considered the current trading and future expectations, the directors are confident the company and group will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment. The accounts have therefore been prepared on the going concern basis.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 35,281,753 34,547,271
35,281,753 34,547,271

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,576,802 1,605,177
Social security costs 206,192 204,243
Other pension costs 58,014 112,895
1,841,008 1,922,315

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administration 21 22
Selling and distribution 6 6
27 28

2024 2023
£    £   
Directors' remuneration 760,044 749,825
Directors' pension contributions to money purchase schemes 10,928 10,609

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 269,150 264,032
Pension contributions to money purchase schemes 5,464 5,305

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 284,899 330,744
Loss/(profit) on disposal of fixed assets 523 (52,045 )
Auditors' remuneration 15,000 15,000
Auditors' remuneration for non-audit services 18,900 19,320

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 628,801 321,209

Deferred tax (55,738 ) 61,620
Tax on profit 573,063 382,829

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,244,053 1,884,619
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19.493 %)

561,013

367,369

Effects of:
Expenses not deductible for tax purposes 12,488 12,669
Capital allowances in excess of depreciation (56,177 ) (58,829 )
Deferred tax 55,739 61,620

Total tax charge 573,063 382,829

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS

Dividends paid in the year amounted to £300,000 (2023 - £300,000).

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 1,746,362 1,544,989 348,409
Additions 1,722 28,890 317
Disposals - (53,768 ) (108,767 )
Reclassification/transfer (507,163 ) - -
At 30 April 2024 1,240,921 1,520,111 239,959
DEPRECIATION
At 1 May 2023 370,200 891,610 266,498
Charge for year 24,907 167,016 11,896
Eliminated on disposal - (50,742 ) (105,846 )
Reclassification/transfer (43,637 ) - -
At 30 April 2024 351,470 1,007,884 172,548
NET BOOK VALUE
At 30 April 2024 889,451 512,227 67,411
At 30 April 2023 1,376,162 653,379 81,911

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 436,642 131,052 4,207,454
Additions 150,513 317 181,759
Disposals (114,151 ) (56,768 ) (333,454 )
Reclassification/transfer - - (507,163 )
At 30 April 2024 473,004 74,601 3,548,596
DEPRECIATION
At 1 May 2023 240,458 117,722 1,886,488
Charge for year 71,780 9,300 284,899
Eliminated on disposal (54,575 ) (56,768 ) (267,931 )
Reclassification/transfer - - (43,637 )
At 30 April 2024 257,663 70,254 1,859,819
NET BOOK VALUE
At 30 April 2024 215,341 4,347 1,688,777
At 30 April 2023 196,184 13,330 2,320,966

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. TANGIBLE FIXED ASSETS - continued

Group

On 1 December 2020, properties that were held by Marchington Stone Limited were transferred to companies within the group at their net book value.

In the Consolidated accounts the properties are shown at their historic cost.

There is therefore a variance between the cost of properties shown in the individual company accounts and the consolidated accounts, this is due to the accumulated depreciation at the date of transfer.

Company
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 May 2023 1,320,549 - 1,320,549
Additions - 21,954 21,954
Reclassification/transfer (488,313 ) - (488,313 )
At 30 April 2024 832,236 21,954 854,190
DEPRECIATION
At 1 May 2023 49,814 - 49,814
Charge for year 24,907 3,285 28,192
Reclassification/transfer (24,787 ) - (24,787 )
At 30 April 2024 49,934 3,285 53,219
NET BOOK VALUE
At 30 April 2024 782,302 18,669 800,971
At 30 April 2023 1,270,735 - 1,270,735

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 15,078
NET BOOK VALUE
At 30 April 2024 15,078
At 30 April 2023 15,078

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Marchington Stone Limited
Registered office: Stockport
Nature of business: Roadstone and concrete aggregate materials
%
Class of shares: holding
Ordinary 100.00

Marchington Sand Sales Limited
Registered office: Stockport
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Shire Hill Quarries Limited
Registered office: Stockport
Nature of business: Property holding
%
Class of shares: holding
Ordinary 100.00

Marchington Property Group (Investments) Ltd
Registered office: 105, Buxton Road, High Lane, Stockport, Cheshire, SK6 8DX
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Shire Hill Quarries (Operations) LTD
Registered office: 105, Buxton Road, High Lane, Stockport, Cheshire, SK6 8DX
Nature of business: Quarrying of ornamental and building stone.
%
Class of shares: holding
Ordinary 100.00

Shire Hill Quarries (Operations) Limited is a 100% subsidiary of Shire Hill Quarries Limited.


MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
Reclassification/transfer 463,526
At 30 April 2024 463,526
NET BOOK VALUE
At 30 April 2024 463,526

Company
Total
£   
FAIR VALUE
Reclassification/transfer 463,526
At 30 April 2024 463,526
NET BOOK VALUE
At 30 April 2024 463,526

At the year end, £463,526 was reclassified to investment property from freehold property at fair value. The properties were valued after the year end but before the date of this report by N M Hunter MRICS, of Edwards Property Consultants using industry standard valuation methods. At 30 April 2024, the directors consider that the market value is not materially different to the fair value transferred to investment properties.

12. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 6,057,825 6,828,008 - -
Other debtors 17,167 15,581 - -
Amounts receivable from group company - - 488 39,856
Prepayments 246,603 167,106 16,836 216
6,321,595 7,010,695 17,324 40,072

Amounts falling due after more than one year:
Other debtors 23,438 2,917 - -

Aggregate amounts 6,345,033 7,013,612 17,324 40,072

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 14) 10,000 - - -
Trade creditors 4,882,387 5,116,565 - -
Tax 353,724 189,951 20,235 20,188
Social security and other taxes 233,305 267,951 1,346 1,353
Other creditors 9,820 14,971 - -
Amounts payable to group - - 1 1
Directors' current accounts 298,530 358,065 - -
Accrued expenses 899,023 1,014,099 11,911 12,664
6,686,789 6,961,602 33,493 34,206

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,000 -

15. FINANCIAL INSTRUMENTS

2024 2023
£ £
Group
Carrying amount of financial assets 14,627,965 13,498,360

Carrying amount of financial liabilities 5,200,737 5,489,566


Financial assets measured at transaction price comprise cash and cash equivalents, trade debtors and other debtors.

Financial liabilities measured at transaction price comprise trade creditors, other creditors and director loan account balances.

Company:

At 30 April 2024 equity instruments measured at cost less impairment £15,078 (2023: £15,078).

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 132,569 188,307

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 May 2023 188,307
Utilised during year (55,738 )
Balance at 30 April 2024 132,569

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,002 Ordinary £1 4,002 4,002

18. RESERVES

Group
Retained Capital
earnings reserve Totals
£    £    £   

At 1 May 2023 8,714,681 117,840 8,832,521
Profit for the year 1,670,990 - 1,670,990
Dividends (300,000 ) - (300,000 )
At 30 April 2024 10,085,671 117,840 10,203,511

Company
Retained
earnings
£   

At 1 May 2023 2,804,495
Profit for the year 1,359,555
Dividends (300,000 )
At 30 April 2024 3,864,050


19. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £58,014 (2023 : £112,895). At 30 April 2024 contributions of £5,893 (2023: £6,561) were outstanding and included within other creditors.

MARCHINGTON GROUP LIMITED (REGISTERED NUMBER: 01501427)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


20. RELATED PARTY DISCLOSURES

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Dividends of £300,000 (2023: £300,000) were paid to directors during the year.

At 30 April 2024 the group owed two directors £298,530 (2023: £358,065). The loan is interest free and repayable on demand.

During the year, a total of key management personnel compensation of £ 850,824 (2023 - £ 842,539 ) was paid.

Key management personnel are Directors of the Group or its subsidiary companies.

21. ULTIMATE CONTROLLING PARTY

In the directors opinion, there is no single party who has ultimate control of the group.