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Registration number: NI026102

James Stevenson (Quarries) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

James Stevenson (Quarries) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

James Stevenson (Quarries) Limited

(Registration number: NI026102)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,384,503

6,515,035

Investments

6

-

62,002

 

6,384,503

6,577,037

Current assets

 

Stocks

7

241,565

248,515

Debtors

8

623,406

995,849

Cash at bank and in hand

 

3,700,449

2,959,728

 

4,565,420

4,204,092

Creditors: Amounts falling due within one year

9

(1,182,660)

(1,752,087)

Net current assets

 

3,382,760

2,452,005

Total assets less current liabilities

 

9,767,263

9,029,042

Creditors: Amounts falling due after more than one year

9

(115,108)

(5,445)

Provisions for liabilities

(597,893)

(473,059)

Net assets

 

9,054,262

8,550,538

Capital and reserves

 

Called up share capital

10

62,002

62,002

Retained earnings

8,992,260

8,488,536

Shareholders' funds

 

9,054,262

8,550,538

 

James Stevenson (Quarries) Limited

(Registration number: NI026102)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
Mr Jonathon George Stevenson
Company secretary and director

.........................................
Mr Thomas James Stevenson
Director

 
     
 

James Stevenson (Quarries) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
215 Doury Road
Ballymena
Co. Antrim
BT43 6SS

These financial statements were authorised for issue by the Board on 20 March 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - '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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred 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.

 

James Stevenson (Quarries) Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Land and buildings

straight line over 50 years

Plant and machinery

5%, 10% & 15% straight line basis

Motor vehicles

15% straight line basis

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.

Leases

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.

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.

 

James Stevenson (Quarries) Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 35).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

796,359

869,575

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,535,811

1,260,990

9,712,128

13,508,929

Additions

-

22,999

642,828

665,827

At 31 March 2024

2,535,811

1,283,989

10,354,956

14,174,756

Depreciation

At 1 April 2023

179,901

996,080

5,817,913

6,993,894

Charge for the year

7,921

76,742

711,696

796,359

At 31 March 2024

187,822

1,072,822

6,529,609

7,790,253

Carrying amount

At 31 March 2024

2,347,989

211,167

3,825,347

6,384,503

At 31 March 2023

2,355,910

264,910

3,894,215

6,515,035

Included within the net book value of land and buildings above is £2,347,989 (2023 - £2,355,910) in respect of freehold land and buildings.
 

 

James Stevenson (Quarries) Limited

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

6

Investments

2024
£

2023
£

Investments in subsidiaries

-

62,002

Subsidiaries

£

Cost or valuation

At 1 April 2023

62,002

Disposals

(62,002)

At 31 March 2024

-

Provision

Carrying amount

At 31 March 2024

-

At 31 March 2023

62,002

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Bottomfields

Clinty Quarry
215 Doury Road
Ballymena
Co Antrim
BT43 6SS

Northern Ireland

ordinary shares

0%

100%

Bottomfields was a dormant company and was dissolved on 19 March 2024.

7

Stocks

2024
£

2023
£

Raw materials and consumables

180,986

185,709

Work in progress

60,579

62,806

241,565

248,515

 

James Stevenson (Quarries) Limited

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

8

Debtors

Other debtors amount includes loans to related parties of £0 (2023) and £109,464 (2022).

Current

2024
£

2023
£

Trade debtors

575,427

873,787

Prepayments

21,149

18,292

Other debtors

26,830

103,770

 

623,406

995,849

 

James Stevenson (Quarries) Limited

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

189,000

-

Trade creditors

 

185,843

849,813

Amounts owed to group undertakings and related parties

700,619

851,614

Taxation and social security

 

103,164

26,086

Other creditors

 

4,034

24,574

 

1,182,660

1,752,087

Due after one year

 

Loans and borrowings

110,250

-

Deferred income

 

4,858

5,445

 

115,108

5,445

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

110,250

-

Deferred income

 

4,858

5,445

 

115,108

5,445

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

62,002 ordinary shares of £1 each

62,002

62,002

62,002

62,002