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REGISTERED NUMBER: 08852620 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Hereford Quarries Ltd

Hereford Quarries Ltd (Registered number: 08852620)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hereford Quarries Ltd

Company Information
for the year ended 31 August 2024







Directors: A R Howell
S A Howell





Registered office: Lloyd George House
Fordshill Road
Rotherwas Ind Estate
Hereford
HR2 6NS





Registered number: 08852620 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Hereford Quarries Ltd (Registered number: 08852620)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 3,000,699 2,392,340

CURRENT ASSETS
Stocks 78,656 85,191
Debtors 6 959,824 744,219
Cash at bank and in hand 271,489 243,732
1,309,969 1,073,142
CREDITORS
Amounts falling due within one year 7 (1,261,914 ) (1,398,174 )
NET CURRENT ASSETS/(LIABILITIES) 48,055 (325,032 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,048,754

2,067,308

CREDITORS
Amounts falling due after more than one
year

8

(581,806

)

(394,576

)

PROVISIONS FOR LIABILITIES (416,563 ) (221,700 )
NET ASSETS 2,050,385 1,451,032

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 2,050,383 1,451,030
SHAREHOLDERS' FUNDS 2,050,385 1,451,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hereford Quarries Ltd (Registered number: 08852620)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





S A Howell - Director


Hereford Quarries Ltd (Registered number: 08852620)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Hereford Quarries Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Lloyd George House, Fordshill Road, Rotherwas Ind Estate, Hereford, Herefordshire, England, HR2 6NS.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised at the fair value of consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land - not depreciated
Leasehold land - 10% straight line
Plant and machinery - 33% straight line, 25% reducing balance and 7% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hereford Quarries Ltd (Registered number: 08852620)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply provisions of Section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation 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 in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

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

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 20 ) .

Hereford Quarries Ltd (Registered number: 08852620)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 September 2023 789,697 2,668,810 3,458,507
Additions 42,327 951,033 993,360
At 31 August 2024 832,024 3,619,843 4,451,867
Depreciation
At 1 September 2023 - 1,066,167 1,066,167
Charge for year 41,061 343,940 385,001
At 31 August 2024 41,061 1,410,107 1,451,168
Net book value
At 31 August 2024 790,963 2,209,736 3,000,699
At 31 August 2023 789,697 1,602,643 2,392,340

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 709,450 523,281
Other debtors 250,374 220,938
959,824 744,219

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 100,296
Hire purchase contracts 167,877 161,264
Trade creditors 418,494 374,108
Taxation and social security 219,803 208,837
Other creditors 455,740 553,669
1,261,914 1,398,174

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 285,630
Hire purchase contracts 158,566 108,946
Other creditors 423,240 -
581,806 394,576

Hereford Quarries Ltd (Registered number: 08852620)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 385,926
Federated scrap loan 571,987 -
571,987 385,926

Federated Scrap Limited have first legal charge over freehold property and charges on specified plant held by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. RELATED PARTY DISCLOSURES

During the period the company loaned £630,000 from Federated Scrap Limited a related party with common shareholder/directors. The loan is being repaid over 4 years and interest is charged at 5.54% pa (charge in 2024 £16,251).