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REGISTERED NUMBER: 14174575 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 March 2024

for

Huyton Asphalt Management Limited

Huyton Asphalt Management Limited (Registered number: 14174575)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 7

Report of the Independent Auditors 10

Consolidated Statement of Comprehensive Income 13

Consolidated Statement of Financial Position 14

Company Statement of Financial Position 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Statement of Cash Flows 18

Notes to the Consolidated Statement of Cash Flows 19

Notes to the Consolidated Financial Statements 21


Huyton Asphalt Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Blennerhassett
K Mellon
A Sephton





REGISTERED OFFICE: Merton Bank Road
St Helens
W9 1HZ





REGISTERED NUMBER: 14174575 (England and Wales)





AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Huyton Asphalt Management Limited (Registered number: 14174575)

Group Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report of the company and the group for the year ended 31 March 2024.

The principal activities of the group during the year were those of tarmacadam and asphalt surfacing, civil engineering and groundworks. The trading company delivers contracts ranging in size from £10,000 to £3 million and utilises its own direct workforce. The groups activities span a wide range of work-types and sectors including Local Authorities, Housing, Industrial and Commercial.

The main trading company is Huyton Asphalt Limited. Reproduced below is the Strategic Report from that company.

REVIEW OF BUSINESS
Our industry has faced challenges during the year to March 2024, including continuing issues with inflation and the availability of materials, and, also, a decline in activity within the Construction sector.

We also had continuing pressures of local competition in our sector de-stabilising the market, and, we are pleased to have managed to continue to overcome any such difficulties and continue our upward trajectory. This has been achieved through the hard work, dedication and resilience of our loyal workforce.

Turnover for the year was £42.5m (2023: £41.6m), which is a marginal 2% increase and a positive result following the key focus from 2023 to retain profitability.

The company reported a profit before tax of £3.8m (2023: profit before tax of £3.6m). The gross profit margin remained fairly constant at 14.4% (2023: 14.4%), which, again, is another positive result as we have managed to retain margins whilst having to manage increasing inflationary pressures in our sectors.

Administrative costs of £2.5m (2023: £2.6m) are in line with expectations for the year and the management has seen no reason to make any significant cuts in overheads as these resources will be needed to support future growth.

The company has a strong Statement of Financial Position at the year end with net assets of £26.4m (2023: £24.4m) and has strong liquidity with year end cash balances of £7.1 m (2023: £4.9m).

Our pipeline of work remained strong throughout 2024, which supported the company ethos to maintain a stable overhead base.

The company maintains a healthy ratio of Net Assets to Turnover of 62% (2023: 59%). This continues to rank highly against our industry competitors and is a good indicator that the company trades within its financial capabilities.

Despite volatile industry conditions over the last three years, a combination of financial strength and liquidity has provided the company with the confidence to continue to invest in the future as we seek to maintain a competitive advantage in what is a challenging period for the industry. During the period the company continued to focus and invest in the technology and infrastructure to support our continued success.

The company has also continued to invest in the future by maintaining a comprehensive employee training programme, particularly when many companies around us have cut their training budgets. We have maintained a strong commitment to investing in apprentices, recognising that these staff will always represent a valuable asset which transcends market cycles.

To remain competitive and to recognise the changing nature of our clients' requirements, we continue to investigate, research and utilise alternative methods of construction. Adopting the most appropriate innovative and technological improvements will benefit our clients and ourselves by reducing costs and construction programme durations as well as reducing the environmental impact of our operations.

The company has continued to invest time and resources into understanding Net Carbon Zero, looking at how we can reduce our own carbon footprint but also positioning ourselves as a leading solutions provider for clients who are looking to decarbonise their operations in order to meet their own Net Carbon Zero targets.


Huyton Asphalt Management Limited (Registered number: 14174575)

Group Strategic Report
for the Year Ended 31 March 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Other than general economic risks, the principal risks facing the company remain those relating to a highly
competitive tender market, inflation in supply chain costs, staff retention. and other regulations.

The Ukraine war has disrupted world-wide supply chains and has resulted in significant increases in both inflation and interest rates to the UK economy. The future trends in both inflation and interest rates remain uncertain and have generated volatility in the supply chain.

The directors continue to monitor the potential impact of the above issues on our clients.

FINANCIAL KEY PERFORMANCE INDICATORS
The directors have monitored the progress of the Company with reference to certain financial key performance indicators:

2024 2023

Turnover £42.5m 41.6m
Gross profit % 14.4% 14.4%
Net assets: Turnover ratio 62% 59%


The directors also monitor certain non-financial key performance indicators:


2024 2023

Average number of employees 92 86
Apprentices as a proportion of direct workforce 6% 5%


SECTION 172(1) STATEMENT
In accordance with section 172 of the Companies Act 2006, the directors, collectively and individually, confirm that during the year ended 31 March 2024, they acted in good faith and have upheld their 'duty to promote the success of the company to the benefit of its stakeholder groups. Section 172 describes a diverse range of stakeholders whose interests are said to feature in the 'success of the company'; comments on each of these are provided below:


Huyton Asphalt Management Limited (Registered number: 14174575)

Group Strategic Report
for the Year Ended 31 March 2024

ENGAGEMENT WITH EMPLOYEES
At Huyton Asphalt, we prioritise our people and have embedded sustainability at the core of our operations, creating shared value for both our business and the communities we serve. By employing our own workforce and apprentices, we ensure continuity, sustainability, and long-term skills development within the organisation. We are committed to fostering a workplace where our employees feel proud to be part of Huyton Asphalt and the broader construction industry.

Our HA Means More initiative underpins our commitment to delivering social value across all contracts. Over the past year, we have welcomed three new apprentices, facilitated work placements for individuals from disadvantaged backgrounds, and provided numerous hours of valuable work experience.

We remain a certified Living Wage Employer dedicated to maintaining a healthy, inclusive workplace for employees and subcontractors alike. We strive to offer quality work opportunities that positively impact the overall wellbeing of our people. This year, we were reaccredited with the Workplace Wellbeing Charter, reflecting our proactive approach to championing a positive workplace culture. By equipping our workforce with the knowledge, tools, and confidence to manage their health and wellbeing and support their colleagues, we continue to see the benefits of prioritising employee welfare.

In 2024, we further strengthened our efforts to address mental health and wellbeing. We have promoted open conversations about mental health through our internal mental health campaign, It's Time to Talk, and our renewed Company Supporter status with the Lighthouse Construction Industry Charity. This partnership enables us to provide emotional, physical, and financial support to construction workers and their families, reinforcing our commitment to the wellbeing of all those connected to Huyton Asphalt.

In addition, we have:

- Employed 5 apprentices including 2 NEET's;
- Recruited 3 employees who were long term unemployed as a result of a recruitment programme;
- Supported 8 paid work placements of two weeks or more;
- Given access for all supply chain and staff to the Lighthouse Club;
- Reaccredited our status as a member of the Workplace Wellbeing Charter; and
- Delivered over 100 hours of supportive colleague working hours to local charities and organisations.

We have always put people first and have worked hard to embed sustainability into the core of business operations to create shared value for business and society. Huyton Asphalt has always employed its own workforce and apprentices and is committed to continuing to do so. This gives us continuity and sustainability in our operations. We want our people to be proud to be part of Huyton Asphalt and of this industry.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The culture of our business is based on a proactive approach to collaboration. We continue to focus on ensuring our customers enjoy a positive experience, with building relationships being as important to us as building projects. We take enormous pride in the friendships and partnerships we make in this industry, in local communities and with our customers and employees.

Our business units have developed their structures to provide clarity in the service to clients, with technical and sector specific experts which enable us to deliver innovation for our customers, providing quality solutions, on budget and on time. With strong relationships across a number of key frameworks we have continued to grow the repeat customer base and investigate new markets.

Our supply chain partners continue to play a significant role in the delivery of goods and services across all our sectors. Through the refinement process to achieve our approved supplier list we have created a structured mandatory selection process which ensures our supply chain demonstrates the highest level of quality and health & safety.


Huyton Asphalt Management Limited (Registered number: 14174575)

Group Strategic Report
for the Year Ended 31 March 2024

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS
The Board's primary responsibility is to promote the long-term success of the company by creating and delivering sustainable shareholder value as well as contributing to wider society. The successful delivery of the long-term plans relies on key input and positive relationships with a wide range of stakeholders. The Board seeks to achieve this by setting out its strategy, monitoring performance against the company's strategic objectives and reviewing the implementation of the strategy.

A formal schedule of matters reserved for Board approval is maintained and reviewed regularly for operational relevance. This includes the determination of the company's strategy and long-term direction, reviewing health and safety performance, approval of budgets, capital expenditure, project selection, organisational changes and changes in key policies. The Board also monitors the effectiveness of the company's systems of internal control, governance and risk management.

SOCIAL RESPONSIBILITY
In 2024, we launched our "Time for Change: Net Zero" initiative. As part of this initiative, we are actively developing our Carbon Reduction Strategy and are committed to reducing our greenhouse gas emissions. We collaborate with our supply chain, communities we work in, businesses, councils, trade associations, and the government to drive innovation, foster creativity, and promote inclusivity, while continually challenging and improving our operations.

Our strong commitment to our "HA Means More" culture allowed us to create meaningful social impact in the local community. Throughout the year, we successfully generated social value across our frameworks and contracts,demonstrating our dedication to supporting those in need. We continued to contribute to local charities, such as the Bobby Colleran Trust and provided ongoing support to food banks in the communities in which we work. Additionally, we actively promoted career development by organising events in schools and higher education institutions. These efforts were complemented by our ongoing commitment to deliver training opportunities for all our employees, empowering them to grow professionally and contribute even more.

Additionally, we have:
- Increased our electric vehicle fleet by 100%;
- Donated to over 25 individual charities;
- Delivered 7 road safety assemblies in local schools; and
- Supported 67 weeks of training opportunities.

Partnerships are crucial to the longevity of our business. We aim to cultivate loyalty through long-term
decision-making, ensuring Huyton Asphalt's legacy continues. Maintaining strong relationships with our staff, customers, community groups, and supply chain is essential for our continued success. Our commitment extends beyond ethical workplace practices and environmental efficiencies. We take pride in our 'HA Means More' ethos and initiatives. We direct our efforts where they are needed most, striving to create positive and lasting change. Examples include volunteering our time within the communities in which we operate.

Huyton Asphalt Management Limited (Registered number: 14174575)

Group Strategic Report
for the Year Ended 31 March 2024

We maximise our impact by strategically focusing our resources on our key social value priority areas including:

- Promoting employment opportunities in the construction industry to school leavers and graduates;
- Enhancing road safety awareness initiatives for vulnerable road users; and
- Collaborating with support organisations to create employment opportunities for disadvantaged individuals.

As part of this commitment, we also:

- Exhibited at career fairs across the North West and fostered our ongoing relationship with the University of Liverpool;
- Worked with The Bobby Colleran Trust to deliver road safety assemblies;
- Provided easter eggs, Christmas Toys and Care Packages to local authorities and charity annual appeals; and
- Sponsored local sports teams and organisations.

ON BEHALF OF THE BOARD:





M Blennerhassett - Director


16 January 2025

Huyton Asphalt Management Limited (Registered number: 14174575)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
The profit for the year, after taxation, amounted to £2,054,592 (2023: £777,971).

The directors recommended and paid total dividends of £946,485 (2023: £568,349) to both the shareholders of the parent company (£674,282) and the non-controlling interest of its subsidiary undertaking (£272,203).

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

M Blennerhassett
K Mellon
A Sephton

GOING CONCERN
As detailed in the financial statements, the group meets its day-to-day working capital requirements through significant available cash balances.

The directors of Huyton Asphalt Management Limited have prepared forecasts for the period to 31 March 2025, and, after review of the forecasts, significant available cash resources and consideration of the parental support provided to the subsidiary undertakings, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements.

Accordingly, they continue to adopt the going concern basis in the preparation of these financial statements.

FUTURE DEVELOPMENTS
2025 will see a continuation of the strategy of continued focus and investment on innovation and research, whilst maintaining a conscious limit on the number of large-scale activities that we undertake.

FINANCIAL RISK MANAGEMENT
As the parent company is a holding company, the primary risk to the parent company would be an operational risk to the trading subsidiary, Huyton Asphalt Limited. The principal risks impacting the trading subsidiary undertaking credit risk associated with cash is linked to the impact of long-term contracts with our customers. The directors manage this credit risk through a detailed customer approval and acceptance process and relevant credit insurance where required.

The director of the subsidiary undertaking constantly monitors and forecasts cash flow and considers that the company is in a strong position in terms of its ability to manage cash flow and liquidity risks.

INVESTMENT IN OUR PEOPLE
With a workforce of nearly 100, the directors recognise that the success of the business depends on the dedication, quality and enthusiasm of our staff, management and employees based on site. This allows us the flexibility to mobilise quickly in response to our clients' requirements and provides the group with a competitive advantage. As a result, the group continues to invest in developing and training its people with a commitment to provide opportunities across the workforce, from creating work placements, developing apprentices, providing targeted training programmes to upskill and qualify individuals and supporting staff seeking to progress and gain a professional qualification.

DISABLED EMPLOYEES
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.


Huyton Asphalt Management Limited (Registered number: 14174575)

Report of the Directors
for the Year Ended 31 March 2024

STREAMLINED ENERGY AND CARBON REPORTING
The SECR disclosure covers the group's greenhouse gas emissions (scope 1 and 2), an appropriate intensity ratio, the total energy usage of gas, electricity, fuel for transport and production.

2024 2023
Emissions resulting from activities for which the company is responsible involving
the combustion of gas or consumption of fuel for the purposes of transport (in
tonnes of CO2 equivalent)
734.77 752.81

Emissions resulting from the purchase of electricity by the company for its own
use, including for the purposes of transportation
15.58 10.91

Energy consumed from activities for which the company is responsible involving
the combustion of gas, or the consumption of fuel for the purposes of transport,
and the annual quantity of energy consumed resulting from the purchase of
electricity by the company for its own use, including for the purposes of transport,
in kWH
3,029,771 3,096,860

GHG emissions have been calculated through the application of BEIS '2022 Government Greenhouse Gas Conversion Factors for Company Reporting' (June 2022) using the reporting standard 'The Greenhouse Gas Protocol - Corporate Accounting and Reporting Standard (WBCSD & WRI 2015 updated edition)'.
The following energy efficiency actions shave been initiated during the reporting period;

- Promotion of our HALO™ range of carbon reducing products;
- Employed a sustainability team to review orders, long term agreements, and suppliers to ensure carbon and
sustainability requirements are considered; and
- Ongoing transfer of relevant fleet to hybrid or electric vehicles.

DISCLOSURE IN THE STRATEGIC REPORT
The group has chosen in accordance with the Companies Act 2006, s. 414C (11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and
Reports) Regulations 2008, Sch. 7 to be contained in the directors' report, including employee engagement statement and stakeholder engagement statement (incorporated within the section 172 statement).

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


Huyton Asphalt Management Limited (Registered number: 14174575)

Report of the Directors
for the Year Ended 31 March 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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.

AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Blennerhassett - Director


16 January 2025

Report of the Independent Auditors to the Members of
Huyton Asphalt Management Limited

Opinion
We have audited the financial statements of Huyton Asphalt Management Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 31 March 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
Huyton Asphalt Management 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 pages eight and nine, 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.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principle risks were related to inflated income and surplus.

Report of the Independent Auditors to the Members of
Huyton Asphalt Management Limited


Audit procedures performed included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect
fraud;
- Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
- Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with
applicable law and regulations;
- Challenging assumptions and judgements made by management in its significant accounting estimates in
particular:

- Depreciation - we carried out a review and recalculation of depreciation to assess its appropriateness for
inclusion within the financial statements;

- Accruals & Prepayments - we reviewed a sample of accruals and prepayments in the year to determine that
these were applied correctly; and
- Tax Provisions - we carried out a review of the tax computations and ensured it was applied correctly.
- Identifying and testing journal entries, in particular any journal entries posted with unusual
accountcombinations.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

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.




Michael Forshaw (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

16 January 2025

Huyton Asphalt Management Limited (Registered number: 14174575)

Consolidated Statement of Comprehensive Income
for the Year Ended 31 March 2024

Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
Notes £ £

TURNOVER 42,496,389 29,511,435

Cost of sales 36,394,063 25,243,859
GROSS PROFIT 6,102,326 4,267,576

Administrative expenses 3,419,284 3,094,542
2,683,042 1,173,034

Other operating income 164,815 97,880
OPERATING PROFIT 4 2,847,857 1,270,914

Interest receivable and similar income 110,569 23,600
2,958,426 1,294,514

Interest payable and similar expenses 5 23,167 14,061
PROFIT BEFORE TAXATION 2,935,259 1,280,453

Tax on profit 6 880,667 502,482
PROFIT FOR THE FINANCIAL YEAR 2,054,592 777,971

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,054,592

777,971

Profit attributable to:
Owners of the parent 1,029,035 (98,518 )
Non-controlling interests 1,025,557 876,489
2,054,592 777,971

Total comprehensive income attributable to:
Owners of the parent 1,301,238 (98,518 )
Non-controlling interests 753,354 876,489
2,054,592 777,971

Huyton Asphalt Management Limited (Registered number: 14174575)

Consolidated Statement of Financial Position
31 March 2024

31.3.24 31.3.23
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 15,267,442 16,137,212
Tangible assets 11 2,233,668 2,343,797
Investments 12 - -
Investment property 13 739,431 739,431
18,240,541 19,220,440

CURRENT ASSETS
Debtors 14 11,340,312 14,805,833
Cash and cash equivalents 6,447,934 4,944,065
17,788,246 19,749,898
CREDITORS
Amounts falling due within one year 15 25,336,800 29,372,308
NET CURRENT LIABILITIES (7,548,554 ) (9,622,410 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,691,987

9,598,030

CREDITORS
Amounts falling due after more than one
year

16

(140,749

)

(141,715

)

PROVISIONS FOR LIABILITIES 20 (527,370 ) (540,555 )
NET ASSETS 10,023,868 8,915,760

CAPITAL AND RESERVES
Called up share capital 21 520 520
Retained earnings 22 723,831 369,077
SHAREHOLDERS' FUNDS 724,351 369,597

NON-CONTROLLING INTERESTS 9,299,517 8,546,163
TOTAL EQUITY 10,023,868 8,915,760

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





M Blennerhassett - Director


Huyton Asphalt Management Limited (Registered number: 14174575)

Company Statement of Financial Position
31 March 2024

31.3.24 31.3.23
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 28,339,581 28,339,581
Investment property 13 - -
28,339,581 28,339,581

CURRENT ASSETS
Debtors 14 6,000 520
Cash in hand 520 -
6,520 520
CREDITORS
Amounts falling due within one year 15 28,345,581 28,339,581
NET CURRENT LIABILITIES (28,339,061 ) (28,339,061 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

520

520

CAPITAL AND RESERVES
Called up share capital 21 520 520
SHAREHOLDERS' FUNDS 520 520

Company's profit for the financial year 674,280 294,953

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





M Blennerhassett - Director


Huyton Asphalt Management Limited (Registered number: 14174575)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£ £ £ £ £
Balance at 15 June 2022 - 1,035,944 1,035,944 - 1,035,944

Changes in equity
Issue of share capital 520 - 520 - 520
Dividends - (568,349 ) (568,349 ) - (568,349 )
Total comprehensive income - (98,518 ) (98,518 ) 876,489 777,971
520 369,077 369,597 876,489 1,246,086
Acquisition of non-controlling
interest

-

-

-

7,669,674

7,669,674
Balance at 31 March 2023 520 369,077 369,597 8,546,163 8,915,760

Changes in equity
Dividends - (674,280 ) (674,280 ) - (674,280 )
Total comprehensive income - 1,029,035 1,029,035 753,354 1,782,389
Balance at 31 March 2024 520 723,832 724,352 9,299,517 10,023,869

Huyton Asphalt Management Limited (Registered number: 14174575)

Company Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£ £ £

Changes in equity
Issue of share capital 520 - 520
Dividends - (294,953 ) (294,953 )
Total comprehensive income - 294,953 294,953
Balance at 31 March 2023 520 - 520

Changes in equity
Dividends - (674,280 ) (674,280 )
Total comprehensive income - 674,280 674,280
Balance at 31 March 2024 520 - 520

Huyton Asphalt Management Limited (Registered number: 14174575)

Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 6,190,034 (233,296 )
Interest element of finance lease payments
paid

(23,167

)

(14,061

)
Prior year taxation - 1,064,413
Tax paid (1,013,154 ) -
Net cash from operating activities 5,153,713 817,056

Cash flows from investing activities
Purchase of intangible fixed assets - (8,689,782 )
Purchase of tangible fixed assets (218,693 ) (2,797,497 )
Purchase of investment property - (739,431 )
Sale of tangible fixed assets 37,329 37,621
Interest received 110,569 23,600
Net cash from investing activities (70,795 ) (12,165,489 )

Cash flows from financing activities
New loans in year - 18,198,581
Loan repayments in year (2,500,000 ) -
Capital repayments on HP contracts (332,878 ) -
Amount introduced by directors 200,312 (1,800,000 )
Amount withdrawn by directors - (312 )
Share issue - 520
Dividends paid to NCIs (272,203 ) 462,058
Equity dividends paid (674,280 ) (568,349 )
Net cash from financing activities (3,579,049 ) 16,292,498

Increase in cash and cash equivalents 1,503,869 4,944,065
Cash and cash equivalents at beginning of
year

2

4,944,065

-

Cash and cash equivalents at end of year 2 6,447,934 4,944,065

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

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

Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Profit before taxation 2,935,259 1,280,453
Depreciation charges 1,324,391 1,677,168
Profit on disposal of fixed assets (10,463 ) (2,901 )
Finance costs 23,167 14,061
Finance income (110,569 ) (23,600 )
4,161,785 2,945,181
Decrease/(increase) in trade and other debtors 3,452,023 (14,805,521 )
(Decrease)/increase in trade and other creditors (1,423,774 ) 11,627,044
Cash generated from operations 6,190,034 (233,296 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£ £
Cash and cash equivalents 6,447,934 4,944,065
Period ended 31 March 2023
31.3.23 15.6.22
as restated
£ £
Cash and cash equivalents 4,944,065 -


Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 March 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash and cash equivalents 4,944,065 1,503,869 6,447,934
4,944,065 1,503,869 6,447,934
Debt
Finance leases (462,058 ) 180,213 (281,845 )
Debts falling due within 1 year (18,198,581 ) 2,500,000 (15,698,581 )
(18,660,639 ) 2,680,213 (15,980,426 )
Total (13,716,574 ) 4,184,082 (9,532,492 )

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Huyton Asphalt Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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 consolidated financial statements incorporate those of Huyton Asphalt Management Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstance.

Critical judgements in applying the group's accounting policies

The directors believe that no critical judgements have been made in applying the group's accounting policies as documented within note 2.


Key accounting estimates and assumptions

The group have made estimates and assumptions concerning its future as part of the production of these financial statements. The resulting accounting estimates will, by definition, seldom equal the related actual results of the respective transaction. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of the respective assets and liabilities of the group within the next financial year are addressed below:

Market value of investment properties
Annually, the directors consider the fair value of the investment properties held, with consideration of both internal and external data, to ensure the carrying amount of the properties is materially consistent with their fair value.

Useful economic life of tangible fixed assets
The useful economic lives, and related depreciation rates, of the fixed assets are are intended to reflect management's expectation of the useful economic life of those assets based on both historical experience as well as other external information. The depreciation rates applied are regularly reviewed by the directors to ensure these are materially consistent with the use of the assets.

Useful economic life of goodwill
The useful economic life determined in respect of the goodwill which has arisen as a result of the acquisition of a controlling interest in the company's immediate subsidiary undertaking, has been determined by the directors using internal and external data. The useful economic life attributable to the goodwill asset has previously been deemed to be 10 years, however following a review of the expected useful life of the investment, the group has determined that the useful economic life is in fact 20 years.The impact of this change being that the amortisation charge due on the goodwill intangible asset annually has reduced from £1,739,540 to £869,770.

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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

Turnover is generated through the provision of a range of tarmacadam and asphalt surfacing, civil engineering and groundworks. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

-the amount of revenue can be measured reliably;
-it is probable that the group will receive the consideration due under the contract;
-the stage of completion of the contract at the end of the reporting period can be measured reliably; and
-the costs incurred and the costs to complete the contract can be measured reliably.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Goodwill
Goodwill is stated at cost less any accumulated amortisation and accumulated impairment losses.

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is amortised evenly over its useful life. Goodwill has no residual value. The finite useful life of goodwill is estimated to be 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

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

Plant and machinery-10% on cost
Fixtures and fittings- 20% on reducing balance and 10% on reducing balance
Motor vehicles-25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred.

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.

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Provisions for liabilities
Provisions are made where an event has taken place that gives the group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the group becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

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

The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

3. EMPLOYEES AND DIRECTORS
Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Wages and salaries 4,349,680 2,968,274
Social security costs 537,611 347,590
Other pension costs 367,423 219,013
5,254,714 3,534,877

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated

Site 63 59
Office 29 27
92 86

The average number of employees by undertakings that were proportionately consolidated during the year was 92 (2023 - 86 ) .

Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Directors' remuneration 11,500 -
Directors' pension contributions to money purchase schemes 80,000 -

4. OPERATING PROFIT

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

Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Hire of plant and machinery 766,304 558,932
Depreciation - owned assets 454,622 418,980
(Profit)/loss on disposal of fixed assets (10,463 ) 3,885
Goodwill amortisation 869,770 1,258,188
Auditors' remuneration 17,500 9,810

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Hire purchase 23,167 14,061

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Current tax:
UK corporation tax 893,853 371,870

Deferred tax (13,186 ) 130,612
Tax on profit 880,667 502,482

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:

Period
15.6.22
Year Ended to
31.3.24 31.3.23
as restated
£ £
Profit before tax 2,935,259 1,280,453
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2023 - 19 %)

733,815

243,286

Effects of:
Expenses not deductible for tax purposes 62,937 17,900
Income not taxable for tax purposes (31,796 ) (551 )
Capital allowances in excess of depreciation - (8,563 )
Depreciation in excess of capital allowances 234,541 -
Adjustment in research and development tax credit (105,645 ) (119,258 )
Deferred tax charge (13,185 ) 130,612
Adjustments relating to companies within the group - 239,056
Total tax charge 880,667 502,482

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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

The total distribution of dividends for the period ended 31 March 2024 will be £946,485.

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

9. PRIOR YEAR ADJUSTMENT

On review, it has been identified that director's loan account balance due at the end of the prior year has previously been disclosed within the other creditors balance. The disclosure of this balance has been corrected in the comparatives.

The Statement of Comprehensive Income has not been impacted by this restatement.

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 17,395,400
AMORTISATION
At 1 April 2023 1,258,188
Amortisation for year 869,770
At 31 March 2024 2,127,958
NET BOOK VALUE
At 31 March 2024 15,267,442
At 31 March 2023 16,137,212

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1 April 2023 3,602,612 80,125 1,038,160 4,720,897
Additions 118,898 15,978 236,482 371,358
Disposals - - (115,209 ) (115,209 )
At 31 March 2024 3,721,510 96,103 1,159,433 4,977,046
DEPRECIATION
At 1 April 2023 1,644,203 78,264 654,632 2,377,099
Charge for year 368,790 587 85,245 454,622
Eliminated on disposal - - (88,343 ) (88,343 )
At 31 March 2024 2,012,993 78,851 651,534 2,743,378
NET BOOK VALUE
At 31 March 2024 1,708,517 17,252 507,899 2,233,668
At 31 March 2023 1,958,409 1,861 383,528 2,343,798

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
At 1 April 2023
and 31 March 2024 28,339,581
NET BOOK VALUE
At 31 March 2024 28,339,581
At 31 March 2023 28,339,581

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Huyton Asphalt Holdings Limited - direct interest
Registered office: Merton Bank Road, Parr, St Helens, Merseyside, WA9 1HZ
Nature of business: Tarmacadam and asphalt surfacing
%
Class of shares: holding
Ordinary 65.00
31.3.24 31.3.23
£ £
Aggregate capital and reserves 800 800
Profit for the year/period 946,485 568,349

Huyton Asphalt Limited - indirect interest
Registered office: Merton Bank Road, Parr, St Helens, Merseyside, WA9 1HZ
Nature of business: Tarmacadam and asphalt surfacing
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£ £
Aggregate capital and reserves 26,401,286 24,417,610
Profit for the year/period 2,930,161 2,928,360


Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

13. INVESTMENT PROPERTY

Group
Total
£
FAIR VALUE
At 1 April 2023
and 31 March 2024 739,431
NET BOOK VALUE
At 31 March 2024 739,431
At 31 March 2023 739,431

The directors have performed an assessment of the fair value of the property as at 31 March 2024 and believe the fair value of the property continues to be equal to the cost.

If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

£   
Historic cost
At 1 April 2022 739,431

At 31 March 2023 739,431

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
as restated as restated
£ £ £ £
Trade debtors 4,258,234 7,086,000 - -
Amounts owed by group undertakings - - 6,000 -
Amounts owed by participating interests 5,625,695 - - -
Other debtors 868,793 7,238,674 - 208
Directors' current accounts - 312 - 312
VAT 480,578 170,393 - -
Prepayments and accrued income 107,012 310,454 - -
11,340,312 14,805,833 6,000 520

Amounts owed from participating interests relates to interest free, unsecured loans which are repayable on demand.

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
as restated as restated
£ £ £ £
Other loans (see note 17) 15,698,581 18,198,581 15,698,581 18,198,581
Finance leases (see note 18) 141,096 320,343 - -
Trade creditors 3,491,929 4,372,192 - -
Amounts owed to group undertakings - - 12,641,000 10,141,000
Amounts owed to participating interests 30,596 - - -
Tax 893,853 1,026,340 - -
Social security and other taxes 42,621 52,121 - -
Other creditors 2,945,581 5,340,925 - -
Directors' current accounts 2,000,000 - - -
Accruals and deferred income 92,543 61,806 6,000 -
25,336,800 29,372,308 28,345,581 28,339,581

Amounts owed to participating interests relates to interest free, unsecured loans which are repayable on demand.

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.3.24 31.3.23
as restated
£ £
Finance leases (see note 18) 140,749 141,715

17. LOANS

Loans are secured over all of the assets of the Group by way of debenture including fixed charge over property and fixed and floating charge over all other assets dated 11 July 2022.

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Finance leases
31.3.24 31.3.23
as restated
£ £
Net obligations repayable:
Within one year 141,096 320,343
Between one and five years 140,749 141,715
281,845 462,058

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.3.24 31.3.23
as restated
£ £
Finance leases 281,845 462,058

Finance lease liabilities are secured against the asset to which they relate.

20. PROVISIONS FOR LIABILITIES

Group
31.3.24 31.3.23
as restated
£ £
Deferred tax 527,370 540,555

Group
Deferred tax
£
Balance at 1 April 2023 540,555
Utilised during year (13,185 )
Balance at 31 March 2024 527,370

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal
value:

£   

1,300 Ordinary A 0.10 130
535 Ordinary B 0.10 53.50
535 Ordinary C 0.10 53.50
535 Ordinary D 0.10 53.50
535 Ordinary E 0.10 53.50
380 Ordinary F 0.10 38
80 Ordinary G 0.10 8
1,300 Ordinary H 0.10 130
520

Huyton Asphalt Management Limited (Registered number: 14174575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024

22. RESERVES

Group
Retained
earnings
£

At 1 April 2023 369,076
Profit for the year 1,029,035
Dividends (674,280 )
At 31 March 2024 723,831

Company
Retained
earnings
£

Profit for the year 674,280
Dividends (674,280 )
At 31 March 2024 -


23. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
31.3.24 31.3.23
as restated
£ £
Sales 7,115,215 4,000,904
Purchases 16,164,491 12,858,797
Amount due from related party 6,439,152 6,401,533
Amount due to related party 921,308 2,524,059

All related party transactions took place at arm's length and balances are repayable on demand and are unsecured, interest free loans. At year end, an amount of £1,695 is receivable from an entity connected through common directorship. In addition to this, an amount of £5,624,000 is receivable from an entity related by it holding a non-controlling interest in the company's immediate parent. An amount of £30,596 is repayable to an entity connected through common directorship.

The group has undertaken transactions with non-wholly owned subsidiaries within the group in the year in the form of dividend payments received from Huyton Asphalt Holdings Limited, with £674,283 being paid from the entity, with a further £272,203 being paid to the non-controlling interest within Huyton Asphalt Holdings Limited.

24. ULTIMATE CONTROLLING PARTY

The parent company is controlled by the Board of Directors by virtue of their shareholdings in the company.