Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 11 February 2025 1 June 2023 31 May 2024 31 May 2024 00543481 Mr C McCoy The Freddie Green & Family Charitable Foundation true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00543481 2023-05-31 00543481 2024-05-31 00543481 2023-06-01 2024-05-31 00543481 frs-core:CurrentFinancialInstruments 2024-05-31 00543481 frs-core:BetweenOneFiveYears 2024-05-31 00543481 frs-core:LandBuildings 2024-05-31 00543481 frs-core:LandBuildings 2023-06-01 2024-05-31 00543481 frs-core:LandBuildings 2023-05-31 00543481 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00543481 frs-core:MotorVehicles 2023-06-01 2024-05-31 00543481 frs-core:PlantMachinery 2024-05-31 00543481 frs-core:PlantMachinery 2023-06-01 2024-05-31 00543481 frs-core:PlantMachinery 2023-05-31 00543481 frs-core:WithinOneYear 2024-05-31 00543481 frs-core:ShareCapital 2024-05-31 00543481 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 00543481 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 00543481 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 00543481 frs-bus:SmallEntities 2023-06-01 2024-05-31 00543481 frs-bus:Audited 2023-06-01 2024-05-31 00543481 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 00543481 1 2023-06-01 2024-05-31 00543481 frs-core:DeferredTaxation 2023-06-01 2024-05-31 00543481 frs-core:DeferredTaxation 2023-05-31 00543481 frs-core:DeferredTaxation 2024-05-31 00543481 frs-core:OtherProvisionsContingentLiabilities 2023-06-01 2024-05-31 00543481 frs-core:OtherProvisionsContingentLiabilities 2023-05-31 00543481 frs-core:OtherProvisionsContingentLiabilities 2024-05-31 00543481 frs-bus:Director1 2023-06-01 2024-05-31 00543481 frs-countries:EnglandWales 2023-06-01 2024-05-31 00543481 2022-05-31 00543481 2023-05-31 00543481 2022-06-01 2023-05-31 00543481 frs-core:CurrentFinancialInstruments 2023-05-31 00543481 frs-core:BetweenOneFiveYears 2023-05-31 00543481 frs-core:WithinOneYear 2023-05-31 00543481 frs-core:ShareCapital 2023-05-31 00543481 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 00543481
Henry Streeter (Sand & Ballast) Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 00543481
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,560,200 1,563,185
1,560,200 1,563,185
CURRENT ASSETS
Debtors 5 11,680,866 12,553,807
Cash at bank and in hand 9,300,617 8,700,847
20,981,483 21,254,654
Creditors: Amounts Falling Due Within One Year 6 (198,756 ) (466,300 )
NET CURRENT ASSETS (LIABILITIES) 20,782,727 20,788,354
TOTAL ASSETS LESS CURRENT LIABILITIES 22,342,927 22,351,539
PROVISIONS FOR LIABILITIES
Provisions For Charges 7 (2,241,843 ) (2,567,812 )
NET ASSETS 20,101,084 19,783,727
CAPITAL AND RESERVES
Called up share capital 600 600
Profit and Loss Account 20,100,484 19,783,127
SHAREHOLDERS' FUNDS 20,101,084 19,783,727
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C McCoy
Director
4th February 2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Henry Streeter (Sand & Ballast) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00543481 . The registered office is 2 Station Road West, Oxted, Surrey, RH8 9EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents amounts receivable for goods and services net of Value Added Tax
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 10% to 20% on reducing balance
Motor Vehicles 25% on written down value
The cost of aggregate bearing land is written down according to the acreage excavated during each year.
2.4. Financial Instruments
i) Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, and loans from fellow Group companies are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.
Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Page 2
Page 3
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.7. Investments
Investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in the profit and loss account. Fair value is determined by the instruments open market value.
2.8. Provision for mineral depletion and reinstatement of land
In accordance with past policy, provision is made for the prudent future cost of restoring land from which minerals have been extracted. The estimated costs of reinstating aggregate bearing land excavated to date have been accounted for in the financial statements (note 11).
2.9. Exceptional Items
Material items which fall outside the ongoing activities of the company are separately disclosed in the statement of comprehensive income where they are relevant to understanding the true and fair view of financial performance of the company for the period reported.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 June 2023 4,685,710 208,916 4,894,626
As at 31 May 2024 4,685,710 208,916 4,894,626
Depreciation
As at 1 June 2023 3,131,585 199,856 3,331,441
Provided during the period 1,000 1,985 2,985
As at 31 May 2024 3,132,585 201,841 3,334,426
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 1,553,125 7,075 1,560,200
As at 1 June 2023 1,554,125 9,060 1,563,185
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,333 630,748
Amounts owed by group undertakings 11,240,706 11,343,707
Other debtors 435,827 579,352
11,680,866 12,553,807
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 41,681 309,096
Amounts owed to group undertakings 5,000 5,000
Other creditors 150,712 150,712
Taxation and social security 1,363 1,492
198,756 466,300
7. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 June 2023 (158,025 ) 2,567,812 2,409,787
Utilised - (325,969 ) (325,969)
Deferred taxation 9,809 - 9,809
Balance at 31 May 2024 (148,216 ) 2,241,843 2,093,627
8. Contingent Liabilities
The company has given unlimited guarantees in respect of bank overdrafts of certain fellow subsidiaries.
The company also has contingent liabilities in respect of performance bonds totalling £530,000 (2022: £530,000) No actual liability is expected to crystallise with respect to these performance bonds.
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 5,000 5,000
Later than one year and not later than five years 3,333 8,333
8,333 13,333
Page 4
Page 5
10. Related Party Transactions
Henry Streeter Ltd - a parent company. During the year the company made purchases from Henry Streeter Ltd of £Nil (2023 - £50,000). The balance owed from Henry Streeter Ltd at the balance sheet date is £452,043 (2023 - £452,043).
Henry Streeter (Sunbury) Ltd - a fellow subsidiary. During the year the company made intergroup transfers to Henry Streeter (Sunbury) Ltd of £Nil (2023 - £nil). The balance owed from Henry Streeter (Sunbury) Ltd at the balance sheet date is £517,406 (2023 - £517,406).
Henry Streeter Automotive Ltd - a fellow subsidiary. During the year the company paid intergroup charges to Henry Streeter Automotive Ltd of £Nil (2023 - £Nil) and charged management fees of £Nil (2023 - £Nil). The company also made transfers to Henry Streeter (Automotive) Limited of £5,501 (2023 - £2,002,377) and paid expenses on its behalf of £16,498 (2023 - £12,971). The balance owed from Henry Streeter Automotive Ltd at the balance sheet date is £10,292,264 (2023 - £10,270,265).
Henry Streeter Transport Ltd - a fellow subsidiary. The balance owed from Henry Streeter Transport Ltd at the balance sheet date is £103,992 (2023 - £103,992).
Henry Streeter Finance Ltd - a fellow subsidiary. The balance owed to Henry Streeter Finance Ltd at the balance sheet date is £5,000 (2023 - £5,000).
McKenzies ATS Ltd, a company Mr C McCoy is a director and shareholder. During the year the company made purchases from McKenzies ATS Ltd of £14,745 (2023 - £14,735). The balance owing to McKenzies ATS Ltd at the balance sheet date is £Nil (2023 - £Nil).
11. Ultimate Controlling Party
The company's ultimate controlling party is The Freddie Green & Family Charitable Foundation by virtue of his ownership of 100% of the issued share capital in the company.
The director regards Henry Streeter Limited, registered in England and Wales, as the immediate parent company.
12. Audit Information
The auditor's report on the accounts of Henry Streeter (Sand & Ballast) Limited for the year ended 31 May 2024 was unqualified.
The auditor's report was signed by Cara Turtington (Senior Statutory Auditor) for and on behalf of Saffery LLP , Statutory Auditor.
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Page 5