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Registration number: 04922782

Easypave (Yorkshire) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Easypave (Yorkshire) Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5 to 6

Notes to the Unaudited Financial Statements

7 to 14

iXBRL Detailed Profit and Loss Account

15 to 16

 

Easypave (Yorkshire) Limited

Company Information





 

Directors




 

RJ Trueman

DW Trueman

Company secretary

Melanie Mitchell

Registered office





 

Burdell Works
172 New Mill Road
Brockholes
Holmfirth
West Yorkshire
HD9 7AH

Accountants

D & A Hill
No.18 T8/9 Brooke's Mill
Armitage Bridge
Huddersfield
West Yorkshire
HD4 7NR

 

Easypave (Yorkshire) Limited

Directors' Report
for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

RJ Trueman

DW Trueman

Principal activity

The principal activity of the company is that of manufacturer of concrete products.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
RJ Trueman
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Easypave (Yorkshire) Limited
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Easypave (Yorkshire) Limited for the year ended 31 October 2024 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Easypave (Yorkshire) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Easypave (Yorkshire) Limited and state those matters that we have agreed to state to the Board of Directors of Easypave (Yorkshire) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Easypave (Yorkshire) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Easypave (Yorkshire) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Easypave (Yorkshire) Limited. You consider that Easypave (Yorkshire) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Easypave (Yorkshire) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

D & A Hill
No.18 T8/9 Brooke's Mill
Armitage Bridge
Huddersfield
West Yorkshire
HD4 7NR

29 November 2024

 

Easypave (Yorkshire) Limited

Profit and Loss Account and Statement of Retained Earnings
for the Year Ended 31 October 2024

Note

2024
£

2023
£

Turnover

 

1,600,828

1,494,413

Cost of sales

 

(1,266,265)

(1,212,984)

Gross profit

 

334,563

281,429

Administrative expenses

 

(231,896)

(186,759)

Operating profit

 

102,667

94,670

Interest payable and similar charges

 

(6,335)

(6,950)

Profit before tax

4

96,332

87,720

Taxation

 

(27,191)

(15,547)

Profit for the financial year

 

69,141

72,173

Retained earnings brought forward

 

174,576

140,103

Dividends paid

 

(50,000)

(37,700)

Retained earnings carried forward

 

193,717

174,576

 

Easypave (Yorkshire) Limited

(Registration number: 04922782 )
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

932

1,097

Tangible assets

6

198,215

208,478

 

199,147

209,575

Current assets

 

Stocks

7

212,700

174,000

Debtors

8

166,374

131,427

Cash at bank and in hand

 

89,142

5,791

 

468,216

311,218

Creditors: Amounts falling due within one year

9

(435,017)

(263,066)

Net current assets

 

33,199

48,152

Total assets less current liabilities

 

232,346

257,727

Creditors: Amounts falling due after more than one year

9

(38,627)

(83,149)

Net assets

 

193,719

174,578

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

193,717

174,576

Shareholders' funds

 

193,719

174,578

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

 

Easypave (Yorkshire) Limited

(Registration number: 04922782 )
Balance Sheet as at 31 October 2024

.........................................
RJ Trueman
Director

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Burdell Works
172 New Mill Road
Brockholes
Holmfirth
West Yorkshire
HD9 7AH
United Kingdom

These financial statements were authorised for issue by the Board on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold

10% on reducing balance

Furniture and fittings

15% on reducing balance

Office equipment

15% on reducing balance

Motor vehicles

25% on reducing balance

Equipment

20% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

Asset class

Amortisation method and rate

Goodwill

Evenly over 20 years

Patents

15% 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

12,537

15,929

Amortisation expense

165

3,593

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

5

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 November 2023

68,000

13,464

81,464

At 31 October 2024

68,000

13,464

81,464

Amortisation

At 1 November 2023

68,000

12,367

80,367

Amortisation charge

-

165

165

At 31 October 2024

68,000

12,532

80,532

Carrying amount

At 31 October 2024

-

932

932

At 31 October 2023

-

1,097

1,097

6

Tangible assets

Land and buildings
£

Long leasehold
£

Furniture and fittings
£

Equipment
£

Cost or valuation

At 1 November 2023

155,269

13,889

250

109,790

Additions

-

-

-

321

At 31 October 2024

155,269

13,889

250

110,111

Depreciation

At 1 November 2023

-

12,153

191

95,620

Charge for the year

-

174

9

2,898

At 31 October 2024

-

12,327

200

98,518

Carrying amount

At 31 October 2024

155,269

1,562

50

11,593

At 31 October 2023

155,269

1,736

59

14,170

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

3,652

114,584

397,434

Additions

1,953

-

2,274

At 31 October 2024

5,605

114,584

399,708

Depreciation

At 1 November 2023

2,177

78,815

188,956

Charge for the year

514

8,942

12,537

At 31 October 2024

2,691

87,757

201,493

Carrying amount

At 31 October 2024

2,914

26,827

198,215

At 31 October 2023

1,475

35,769

208,478

Included within the net book value of land and buildings above is £155,269 (2023 - £155,269) in respect of freehold land and buildings and £1,562 (2023 - £1,736) in respect of long leasehold land and buildings.
 

7

Stocks

2024
£

2023
£

Other inventories

212,700

174,000

8

Debtors

Current

2024
£

2023
£

Trade debtors

106,088

83,193

Prepayments

3,010

3,109

Other debtors

57,276

45,125

 

166,374

131,427

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

26,995

17,609

Trade creditors

 

355,152

191,756

Taxation and social security

 

48,977

42,481

Accruals and deferred income

 

3,160

3,180

Other creditors

 

733

8,040

 

435,017

263,066

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

38,627

83,149

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

11

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

34,786

70,793

Hire purchase contracts

3,841

12,356

38,627

83,149

 

Easypave (Yorkshire) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2024

2024
£

2023
£

Current loans and borrowings

Bank borrowings

18,480

10,000

Hire purchase contracts

8,515

7,609

26,995

17,609

 

Easypave (Yorkshire) Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 October 2024

2024
£

2023
£

Turnover/revenue

1,600,828

1,494,413

Cost of sales

Opening finished goods

(174,000)

(230,000)

Purchase of raw materials and consumables

(1,104,826)

(975,424)

Closing finished goods

212,700

174,000

Freight and haulage costs

(46,741)

(38,034)

Wages and salaries excluding directors

(134,777)

(130,909)

Social security costs excluding directors

(7,277)

-

Pension costs defined contribution schemes excluding directors

(4,322)

-

Staff costs excluding directors

(146,376)

(130,909)

External commission costs

(7,022)

(12,617)

Gross profit

334,563

281,429

Distribution costs

Administrative expenses

Audit and accountancy other services

(3,010)

(2,780)

Advertising, promotions and marketing costs

(4,479)

(4,437)

Rent, rates and services costs

(37,192)

(37,276)

Utilities costs

(7,496)

(5,198)

Operating lease expenditure

(450)

(1,330)

Other repairs and maintenance costs

(7,025)

(7,467)

Depreciation of Fixed assets

(12,537)

(15,929)

Amortisation of intangible assets

(165)

(3,593)

Vehicle costs

(13,185)

(16,303)

Other staff costs

(239)

-

Salaries and fees, directors

(54,900)

(52,000)

Social security costs, directors

(5,065)

(4,764)

Company contributions to money purchase plans, directors

(68,000)

(16,050)

Staff costs, directors

(127,965)

(72,814)

 

Easypave (Yorkshire) Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 October 2024

2024
£

2023
£

Legal and professional costs

-

(1,313)

Bad debts and impairment losses

-

(800)

Bank charges

(609)

(599)

Insurance costs

(4,881)

(4,682)

Telecommunications

(3,394)

(3,542)

Printing, postage and stationery

(2,364)

(1,408)

Subscriptions

(2,534)

(1,971)

Other costs

(4,371)

(5,317)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

102,667

94,670

Interest expense on bank overdraft, bank loans and similar borrowings

(6,298)

(5,461)

Interest expense on obligations under finance leases and hire purchase contracts

(37)

(1,489)

Profit on ordinary activities before taxation

96,332

87,720

Tax on profit or loss on ordinary activities

(27,191)

(15,547)

Profit for the financial year

69,141

72,173