Sitecrete Limited 14044548 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is manufacture and supplier of ready mix concrete. Digita Accounts Production Advanced 6.30.9574.0 true true true 14044548 2023-05-01 2024-04-30 14044548 2024-04-30 14044548 bus:Director3 2024-04-30 14044548 bus:Director4 2024-04-30 14044548 bus:Director5 2024-04-30 14044548 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2024-04-30 14044548 core:RetainedEarningsAccumulatedLosses 2024-04-30 14044548 core:ShareCapital 2024-04-30 14044548 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 14044548 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 14044548 core:CurrentFinancialInstruments 2024-04-30 14044548 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14044548 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 14044548 core:MotorVehicles 2024-04-30 14044548 core:OtherPropertyPlantEquipment 2024-04-30 14044548 bus:FRS102 2023-05-01 2024-04-30 14044548 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14044548 bus:FullAccounts 2023-05-01 2024-04-30 14044548 bus:RegisteredOffice 2023-05-01 2024-04-30 14044548 bus:Director1 2023-05-01 2024-04-30 14044548 bus:Director2 2023-05-01 2024-04-30 14044548 bus:Director3 2023-05-01 2024-04-30 14044548 bus:Director4 2023-05-01 2024-04-30 14044548 bus:Director5 2023-05-01 2024-04-30 14044548 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-05-01 2024-04-30 14044548 bus:Consolidated 2023-05-01 2024-04-30 14044548 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14044548 bus:Agent1 2023-05-01 2024-04-30 14044548 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 14044548 core:ShareCapital 2023-05-01 2024-04-30 14044548 core:PlantEquipmentUnderOperatingLeases 2023-05-01 2024-04-30 14044548 core:MotorVehicles 2023-05-01 2024-04-30 14044548 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 14044548 core:PlantMachinery 2023-05-01 2024-04-30 14044548 core:Vehicles 2023-05-01 2024-04-30 14044548 countries:AllCountries 2023-05-01 2024-04-30 14044548 2023-04-30 14044548 core:RetainedEarningsAccumulatedLosses 2023-04-30 14044548 core:ShareCapital 2023-04-30 14044548 core:MotorVehicles 2023-04-30 14044548 core:OtherPropertyPlantEquipment 2023-04-30 14044548 2022-04-13 2023-04-30 14044548 2023-04-30 14044548 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-04-30 14044548 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 14044548 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 14044548 core:CurrentFinancialInstruments 2023-04-30 14044548 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 14044548 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 14044548 core:MotorVehicles 2023-04-30 14044548 core:OtherPropertyPlantEquipment 2023-04-30 14044548 core:RetainedEarningsAccumulatedLosses 2022-04-13 2023-04-30 14044548 core:ShareCapital 2022-04-13 2023-04-30 14044548 core:PlantEquipmentUnderOperatingLeases 2022-04-13 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14044548

Sitecrete Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Sitecrete Limited

Contents

Company Information

1

Strategic Report

2 to 3

Directors' Report

4

Statement of Directors' Responsibilities

5

Accountants' Report

6

Profit and Loss Account

7

Statement of Comprehensive Income

8

Balance Sheet

9 to 10

Statement of Changes in Equity

11

Notes to the Unaudited Financial Statements

12 to 20

 

Sitecrete Limited

Company Information

Directors

D Ward

C J Allsopp

D I Roberts

Registered office

Brampton House
19 Tenter Road
Moulton Park
Northampton
NN3 6PZ

Accountants

10. Chartered Accountants 10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

 

Sitecrete Limited

Strategic Report for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

Principal activity

The principal activity of the company is manufacture and supplier of ready mix concrete.

Business Review

Sitecrete Limited has had a year of organisational and strategic developments that positions the company for sustained growth in the construction industry. As a manufacturer and supplier of ready-mix concrete, Sitecrete continues to strengthen its market presence with high-quality, innovative onsite solutions tailored to large-scale construction projects that deliver tangible cost, programme and environmental benefits.

During the year, key changes in leadership, business operations, strategic partnerships, technological advancements, and sustainability initiatives have been made that underpin Sitecrete’s competitive edge.

Aligning with the company’s future vision, strategic changes to the company’s executive team reflect Sitecrete’s commitment to leadership that supports innovation, operational efficiency, and market expansion. Two director appointments ended during the year, while David Ian Roberts was appointed as a director on 12 December 2023. This leadership transition will ensure the company is equipped to navigate its next stage of growth.

During the year, Sitecrete expanded its product and service offerings to provide comprehensive solutions for its clients. While the company remains focused on manufacturing and supplying ready-mix concrete, it has also introduced floor-laying services, creating an end-to-end solution for clients. This diversification strengthens Sitecrete’s value proposition, broadens its revenue streams, and enhances its appeal to a wider range of construction projects.

In May 2024, Sitecrete solidified its market position by joining the Winvic Group, a highly respected organisation renowned for delivering construction and civil engineering projects across the UK. This strategic partnership is expected to drive growth by providing greater visibility of project pipelines, fostering knowledge-sharing opportunities and unlocking operational synergies and the associated programme benefits. Integration with the Winvic Group further cements Sitecrete’s reputation as a trusted partner within the construction industry.

To support future growth and scalability, Sitecrete is investing in its operational infrastructure. A key priority is upgrading to new accounting software in the year ahead, which will enhance financial reporting and improve efficiency across departments. This complements the investment in an improved batching and mixing system - Readyminder - which is creating operational efficiencies through the automation of tracking volumes and invoicing. These modernisations align with Sitecrete’s broader strategy of leveraging technology to streamline operations, enhance internal efficiency and profitability, while maintaining a competitive edge in the market.

 

Sitecrete Limited

Strategic Report for the Year Ended 30 April 2024

Sustainability remains central to Sitecrete’s vision. The company is committed to reducing its carbon footprint and meeting the construction industry’s increasing demand for environmentally conscious solutions. By reducing vehicle movements on roads through its innovative onsite solutions, Sitecrete not only decreases emissions but also ensures continuity of supply to construction sites, minimising delays and associated environmental costs. Additionally, the company has initiated carbon reduction testing to quantify the environmental benefits of its products and services. This initiative underscores Sitecrete’s leadership in sustainability and its dedication to working with clients to reduce both embodied and operational carbon in their projects.

Sitecrete remains committed to reducing its carbon footprint. At the core, our products and services are designed to meet client demands for eco-friendly solutions. Our innovative onsite solutions significantly lower environmental impacts by ensuring continuity of supply to construction sites, minimising project delays and associated environmental costs as well as reducing vehicle movements on roads, resulting in decreased emissions.

Working with clients to reduce both embodied and operational carbon on projects, Sitecrete has initiated carbon reduction testing to quantify the environmental benefits of its products and services to make further reductions. Sustainability initiatives, particularly in carbon reduction, position Sitecrete as a partner of choice for environmentally conscious construction projects.

Our Future

Sitecrete Limited has made strategic progress in leadership, product and service diversification, partnerships, technological advancements, and sustainability initiatives. These developments underscore the company’s commitment to delivering innovative, cost-effective, and environmentally friendly solutions to the construction industry that meet the evolving needs of its clients.

By leveraging its strong foundation and forward-looking strategy, Sitecrete is well-positioned to achieve continued growth and success in the years ahead.
 

Approved by the Board on 30 January 2025 and signed on its behalf by:

.........................................
D Ward
Director

   
     
 

Sitecrete Limited

Directors' Report for the Year Ended 30 April 2024

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

Directors of the company

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

D Ward

C J Allsopp

L Knowles (ceased 14 August 2023)

RJ Butler (ceased 29 October 2024)

D I Roberts (appointed 12 December 2023)

Going concern

In preparing these financial statements, the directors have assessed the ability of the company to continue to operate for the period of at least twelve months from the date of signing the financial statements.

Based on the current position the directors have a reasonable expectation that the company has adequate resources to continue in operational existence, along with the financial support of its directors and related parties, for a period of at least twelve months from the date of signing these financial statements and accordingly they adopt the going concern basis in preparing these financial statements.

Approved by the Board on 30 January 2025 and signed on its behalf by:

.........................................
D Ward
Director

   
     
 

Sitecrete Limited

Statement of Directors' Responsibilities

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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sitecrete Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sitecrete Limited for the year ended 30 April 2024 as set out on pages 7 to 20 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 Sitecrete 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 Sitecrete Limited and state those matters that we have agreed to state to the Board of Directors of Sitecrete 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 Sitecrete Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sitecrete 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 Sitecrete Limited. You consider that Sitecrete 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 Sitecrete 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.

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

10. Chartered Accountants
10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

30 January 2025

 

Sitecrete Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

3

12,943,546

8,222,684

Cost of sales

 

(11,198,599)

(8,553,997)

Gross profit/(loss)

 

1,744,947

(331,313)

Administrative expenses

 

(2,172,661)

(1,519,993)

Operating loss

4

(427,714)

(1,851,306)

Interest payable and similar expenses

5

(340,904)

(136,642)

Loss before tax

 

(768,618)

(1,987,948)

Tax on loss

2,119,754

-

Profit/(loss) for the financial year

 

1,351,136

(1,987,948)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Sitecrete Limited

Statement of Comprehensive Income for the Year Ended 30 April 2024

2024
£

2023
£

Profit/(loss) for the year

1,351,136

(1,987,948)

Total comprehensive income for the year

1,351,136

(1,987,948)

 

Sitecrete Limited

(Registration number: 14044548)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

7

4,480,024

4,363,561

Current assets

 

Stocks

8

104,958

153,470

Debtors

9

4,978,312

4,624,477

Cash at bank and in hand

 

527,783

761,387

 

5,611,053

5,539,334

Creditors: Amounts falling due within one year

11

(3,921,940)

(5,543,853)

Net current assets/(liabilities)

 

1,689,113

(4,519)

Total assets less current liabilities

 

6,169,137

4,359,042

Creditors: Amounts falling due after more than one year

11

(6,805,869)

(6,346,910)

Net liabilities

 

(636,732)

(1,987,868)

Capital and reserves

 

Called up share capital

80

80

Retained earnings

(636,812)

(1,987,948)

Shareholders' deficit

 

(636,732)

(1,987,868)

 

Sitecrete Limited

(Registration number: 14044548)
Balance Sheet as at 30 April 2024

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.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
D Ward
Director

   
     

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

 

Sitecrete Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

80

(1,987,948)

(1,987,868)

Profit for the year

-

1,351,136

1,351,136

At 30 April 2024

80

(636,812)

(636,732)

Share capital
£

Retained earnings
£

Total
£

Loss for the year

-

(1,987,948)

(1,987,948)

New share capital subscribed

80

-

80

At 30 April 2023

80

(1,987,948)

(1,987,868)

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Brampton House
19 Tenter Road
Moulton Park
Northampton
NN3 6PZ

These financial statements were authorised for issue by the Board on 30 January 2025.

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 were prepared in accordance with Financial Reporting Standard 102 '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.

Summary of disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙ the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙ the requirements of Section 7 Statement of Cash Flows;
∙ the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙ the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙ the requirements of Section 33 Related Party Disclosures paragraph 33.7..

Going concern

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

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Revenue recognition

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.

Tax

The tax expense for the period comprises 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.

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.

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Motor vehicles

Over 7 years

Plant and machinery

Over 10 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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 profit or loss.

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.

 

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

2024
£

2023
£

Sale of goods

12,943,546

8,222,684

4

Operating loss

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

629,234

316,208

Operating lease expense - plant and machinery

(31)

228

5

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

196,620

70,618

Interest on obligations under finance leases and hire purchase contracts

144,284

66,024

340,904

136,642

6

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

821,480

742,052

Social security costs

92,656

83,509

Pension costs, defined contribution scheme

61,627

37,089

Other employee expense

23,701

15,657

999,464

878,307

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
No.

2023
No.

Production

17

9

Administration and support

4

4

21

13

7

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

1,835,532

2,844,237

4,679,769

Additions

721,270

24,427

745,697

At 30 April 2024

2,556,802

2,868,664

5,425,466

Depreciation

At 1 May 2023

146,797

169,411

316,208

Charge for the year

341,215

288,019

629,234

At 30 April 2024

488,012

457,430

945,442

Carrying amount

At 30 April 2024

2,068,790

2,411,234

4,480,024

At 30 April 2023

1,688,735

2,674,826

4,363,561

8

Stocks

2024
£

2023
£

Other inventories

104,958

153,470

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Debtors

Current

2024
£

2023
£

Trade debtors

1,779,671

4,483,134

Other debtors

2,134,041

136,343

Prepayments

53,984

5,000

Accrued income

1,010,616

-

 

4,978,312

4,624,477

10

Cash and cash equivalents

2024
£

2023
£

Cash at bank

527,783

761,387

11

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

14

1,207,922

1,061,015

Trade creditors

 

2,370,552

4,435,864

Social security and other taxes

 

34,718

37,969

Accruals

 

308,748

9,005

 

3,921,940

5,543,853

Due after one year

 

Loans and borrowings

14

1,969,029

2,639,491

Other non-current financial liabilities

 

4,836,840

3,707,419

 

6,805,869

6,346,910

12

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £61,627 (2023 - £37,089).

 

Sitecrete Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

13

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

800

80

800

80

       

14

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,969,029

2,639,491

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,207,922

1,061,015