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REGISTERED NUMBER: 01992237 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SANDSFIELD READYMIXED CONCRETE LIMITED

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SANDSFIELD READYMIXED CONCRETE LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: M J Dobbie
K J Dobbie
M W Mewburn
J H Mewburn
D I Rogerson





SECRETARY: Mrs D M Mewburn





REGISTERED OFFICE: Sandsfield Farm
Catwick Lane
Brandesburton
Driffield
East Yorkshire
YO25 8SB





REGISTERED NUMBER: 01992237 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 324,837 311,642

CURRENT ASSETS
Stocks 49,147 41,330
Debtors 5 747,471 820,152
Cash at bank and in hand 595,910 497,530
1,392,528 1,359,012
CREDITORS
Amounts falling due within one year 6 799,616 929,460
NET CURRENT ASSETS 592,912 429,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

917,749

741,194

CREDITORS
Amounts falling due after more than one year 7 (63,747 ) -

PROVISIONS FOR LIABILITIES (81,209 ) (59,212 )
NET ASSETS 772,793 681,982

CAPITAL AND RESERVES
Called up share capital 240 240
Retained earnings 772,553 681,742
SHAREHOLDERS' FUNDS 772,793 681,982

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

BALANCE SHEET - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:





M J Dobbie - Director


SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Sandsfield Readymixed Concrete Limited is a private company limited by shares, incorporated and domiciled in England. The company's registered number is 01992237 and its registered office and principal place of business is Sandsfield Farm, Catwick Lane, Brandesburton Driffield, East Yorkshire, YO25 8SB.

The principal activity of the company is the provision of readymixed concrete products.

The presentational currency of the financial statements is Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost, 15% on cost and 10% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Government grants
Government grants are recognised using the accruals mode.

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 1,301,085
Additions 100,607
Disposals (76,699 )
At 31 May 2024 1,324,993
DEPRECIATION
At 1 June 2023 989,443
Charge for year 76,227
Eliminated on disposal (65,514 )
At 31 May 2024 1,000,156
NET BOOK VALUE
At 31 May 2024 324,837
At 31 May 2023 311,642

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 153,699
Additions 92,182
Disposals (76,699 )
Transfer to ownership (77,000 )
At 31 May 2024 92,182
DEPRECIATION
At 1 June 2023 71,714
Charge for year 28,165
Eliminated on disposal (65,514 )
Transfer to ownership (26,683 )
At 31 May 2024 7,682
NET BOOK VALUE
At 31 May 2024 84,500
At 31 May 2023 81,985

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 643,620 767,861
Other debtors 103,851 52,291
747,471 820,152

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 4,386 26,141
Trade creditors 717,015 722,352
Taxation and social security 55,526 105,867
Other creditors 22,689 75,100
799,616 929,460

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 63,747 -

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 4,386 26,141
Between one and five years 63,747 -
68,133 26,141

Non-cancellable operating leases
2024 2023
£    £   
Within one year 26,156 45,334
Between one and five years 45,773 74,109
71,929 119,443

SANDSFIELD READYMIXED CONCRETE LIMITED (REGISTERED NUMBER: 01992237)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 68,133 26,141

The hire purchase contracts are secured on the assets they are financing.

10. RELATED PARTY DISCLOSURES

At the balance sheet date, included in other creditors, the directors were owed £85 (2023: £42,455. The loans are free from interest and repayable on demand.