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2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00142987










BATHGATE SILICA SAND LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BATHGATE SILICA SAND LIMITED
 
 
COMPANY INFORMATION


Directors
D. Robinson 
C. Sanders 
S. I. Bennett 
I. H. Walker 
R. H. Walker 




Company secretary
S. I. Bennett



Registered number
00142987



Registered office
c/o Langtons Professional Services Limited
100 Old Hall Street

Liverpool

Merseyside

L3 9QJ




Independent auditor
Langtons Professional Services Limited
Chartered Accountants & Statutory Auditor

The Plaza

100 Old Hall Street

Liverpool

L3 9QJ





 
BATHGATE SILICA SAND LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditor's Report
 
5 - 8
Statement of Comprehensive Income
 
9
Statement of Financial Position
 
10 - 11
Statement of Changes in Equity
 
12
Notes to the Financial Statements
 
13 - 29


 
BATHGATE SILICA SAND LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Business review
 
The company maintained its focus on product quality and service, as demonstrated by strong industrial sand sales. The demand for dried sands continued throughout 2024. To accommodate this, the company invested in four new dry sand silos, increasing storage capacity by 1,200 tonnes.
Extracting industrial sands from the quarry remains challenging due to varying depths of clay and overburden. The management team continues its major investment plan to improve site infrastructure, plant, and equipment. This includes modifications to the existing bagging plant and the installation of a new sand drying unit.
The installation of a 1MW Combined Heat and Power unit has been completed but not yet commissioned. Once operational, a review of installing a solar farm on-site to further reduce carbon emissions will be conducted.
 

Principal risks and uncertainties
 
Risk Management
Given the size of the company, the directors have delegated the responsibility of financial risk management to the company's finance department. The department has a policy and procedures manual that sets out guidelines to manage credit risk and price risk.
Credit Risk
The company has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to any individual counterparty is subject to a limit, which is reassessed annually by the board. Wherever appropriate, the company undertakes a policy of credit insurance. If credit insurance is not available the senior management team will ensure that any risk is managed pro-actively to minimise any exposure.
Price Risk
The company is exposed to a price risk as a result of its operations. Wherever possible the management looks to enter into one year pricing contracts to minimise its price exposure. Despite best endeavours this will not always be possible due to significant movements in prices of natural resources.

Financial key performance indicators
 
The company’s financial key performance indicators focus on turnover, profitability, and cash management.
Some of these are set out below and which, despite the challenges, demonstrate the stability of the business:
Year Ending:                             30 September 2024       30 September 2023 
Turnover:                                      £14.90m                       £13.75m 
Return on Capital Employed:            20.6%                           15.4%
Gross Profit:                                   31.8%                           27.1%
The key non-financial performance indicators relate to product quality and service, and reducing our carbon footprint.
The main challenge for the business over the next couple of years revolves around managing the installation and commissioning of the numerous significant capital investment projects.
These developments have either already commenced or will do so in the next 12 to 24 months, and will transform the majority of the production process, positioning us well for the long term.

Page 1

 
BATHGATE SILICA SAND LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


This report was approved by the board on 7 May 2025 and signed on its behalf.







D. Robinson
Director

Page 2

 
BATHGATE SILICA SAND LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

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

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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Principal activity

The company's principal activity during the year continued to be the extraction and processing of industrial sand.

Results and dividends

The profit for the year, after taxation, amounted to £2,290,598 (2023 - £1,495,501).

A divididend of £1,000,000 has been paid to the parent company.  The directors do not recommend any further dividend for the year.

Directors

The directors who served during the year were:

D. Robinson 
C. Sanders 
S. I. Bennett 
I. H. Walker 
R. H. Walker 
B. A. Walker (resigned 10 February 2025)
The directors regret to report the passing of B. A. Walker on 10 February 2025.

Page 3

 
BATHGATE SILICA SAND LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Future developments

It is the directors intention to continue to develop the existing activities of the business.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

Under section 487(2) of the Companies Act 2006Langtons Professional Services Limited will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 7 May 2025 and signed on its behalf.
 







D. Robinson
Director

Page 4

 
BATHGATE SILICA SAND LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE SILICA SAND LIMITED
 

Opinion

We have audited the financial statements of Bathgate Silica Sand Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

 
BATHGATE SILICA SAND LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE SILICA SAND LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 6

 
BATHGATE SILICA SAND LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE SILICA SAND LIMITED (CONTINUED)


Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit, in respect to fraud, are:
• to identify and assess the risks of material misstatement of the financial statements due to fraud;
• to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and
• to respond appropriately to fraud or suspected fraud identified during the audit.
However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
Our approach was as follows:
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations in the UK and the EU General Data Protection Regulation (GDPR).
• We understood how the Company is complying with those frameworks by making enquiries of management. Through consideration of the results of our audit procedures we were able to either corroborate or provide contrary evidence which was then followed up.
• Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Our procedures involved:
enquiries of management; and
journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business.
• We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage revenue and earnings. Where the risk was considered to be higher, including areas impacting key performance indicators or management remuneration, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included those on revenue recognition detailed above, the assessment of items identified by management as non-recurring and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material fraud or error.
 
Page 7

 
BATHGATE SILICA SAND LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE SILICA SAND LIMITED (CONTINUED)



A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Whalley (Senior Statutory Auditor)
  
for and on behalf of
Langtons Professional Services Limited
 
Chartered Accountants
Statutory Auditor
  
The Plaza
100 Old Hall Street
Liverpool
L3 9QJ

7 May 2025
Page 8

 
BATHGATE SILICA SAND LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
14,898,813
13,747,427

Cost of sales
  
(10,166,858)
(10,015,234)

Gross profit
  
4,731,955
3,732,193

Distribution costs
  
(524,790)
(491,526)

Administrative expenses
  
(1,134,519)
(1,169,323)

Fair value movements
  
1,591
2,721

Operating profit
 5 
3,074,237
2,074,065

Income from fixed assets investments
  
10,048
2,323

Interest receivable and similar income
 10 
-
6,333

Interest payable and similar expenses
 11 
(6,236)
(3,219)

Profit before tax
  
3,078,049
2,079,502

Tax on profit
 12 
(787,451)
(584,001)

Profit for the financial year
  
2,290,598
1,495,501

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 13 to 29 form part of these financial statements.

Page 9

 
BATHGATE SILICA SAND LIMITED
REGISTERED NUMBER: 00142987

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 14 
-
139

Tangible assets
 15 
7,497,534
5,815,414

  
7,497,534
5,815,553

Current assets
  

Stocks
 16 
389,233
774,259

Debtors: amounts falling due within one year
 17 
11,519,388
11,108,993

Current asset investments
 18 
26,225
24,633

Cash at bank and in hand
 19 
1,220,731
950,371

  
13,155,577
12,858,256

Creditors: amounts falling due within one year
 20 
(4,852,020)
(4,097,888)

Net current assets
  
 
 
8,303,557
 
 
8,760,368

Total assets less current liabilities
  
15,801,091
14,575,921

Creditors: amounts falling due after more than one year
 21 
(41,820)
(60,809)

Provisions for liabilities
  

Deferred tax
 24 
(1,545,499)
(1,091,938)

  
 
 
(1,545,499)
 
 
(1,091,938)

Net assets
  
14,213,772
13,423,174

Page 10

 
BATHGATE SILICA SAND LIMITED
REGISTERED NUMBER: 00142987
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 25 
12,690
12,690

Profit and loss account
 26 
14,201,082
13,410,484

  
14,213,772
13,423,174


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 May 2025.






D. Robinson
Director

Page 11

 
BATHGATE SILICA SAND LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2022
12,690
12,914,983
12,927,673


Comprehensive income for the year

Profit for the year
-
1,495,501
1,495,501
Total comprehensive income for the year
-
1,495,501
1,495,501


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,000,000)
(1,000,000)


Total transactions with owners
-
(1,000,000)
(1,000,000)


At 1 October 2023
12,690
13,410,484
13,423,174


Comprehensive income for the year

Profit for the year
-
2,290,598
2,290,598
Total comprehensive income for the year
-
2,290,598
2,290,598


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,500,000)
(1,500,000)


Total transactions with owners
-
(1,500,000)
(1,500,000)


At 30 September 2024
12,690
14,201,082
14,213,772


The notes on pages 13 to 29 form part of these financial statements.

Page 12

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The entity is a private limited liability company, limited by shares registered in England and Wales within the United Kingdom. The registered office is c/o Langtons Professional Services Limited, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ, the principal place of business is Arclid Quarry, Congleton Road, Sandbach, Cheshire CW11 4SN and company number is 00142987.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has cash resources and has no requirement for external funding. The directors have a reasonable  expectation  that  the  company  has  adequate  resources  to  continue  in  operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 13

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
10 -16 years
Plant & machinery
-
5 -20 years
Motor vehicles
-
4 years
Office equipment
-
5 -20 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 14

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

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. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 15

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 16

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.14

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.15

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 17

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.16

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.17

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.18

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 18

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.20

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have made judgments regarding the period of depreciation of fixed assets.


4.


Turnover

The whole of the turnover is attributable to the principal activity of the business.

Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
14,898,813
13,747,427

14,898,813
13,747,427


Page 19

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
-
8

Other operating lease rentals
45,649
64,703


6.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2024
2023
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
14,000
13,500

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,567,861
1,555,755

Social security costs
178,351
185,227

Cost of defined contribution scheme
174,804
143,717

1,921,016
1,884,699


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
6
6



Manufacturing
26
26



Sales
3
7



Management
2
2

37
41

Page 20

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
211,242
198,927

Company contributions to defined contribution pension schemes
33,798
53,799

245,040
252,726


During the year retirement benefits were accruing to 2 directors (2023 - 2) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £118,518 (2023 - £115,576).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £17,270 (2023 - £30,483).


9.


Income from investments

2024
2023
£
£



Income from current asset investments
10,048
2,323





10.


Interest receivable

2024
2023
£
£


Other interest receivable
-
6,333

-
6,333


11.


Interest payable and similar expenses

2024
2023
£
£


Finance leases and hire purchase contracts
6,236
2,095

Other interest payable
-
1,124

6,236
3,219

Page 21

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Adjustments in respect of previous periods
-
(168,707)


-
(168,707)


Group taxation relief
333,890
(2,412)


333,890
(171,119)


Total current tax
333,890
(171,119)

Deferred tax


Origination and reversal of timing differences
453,561
755,120

Total deferred tax
453,561
755,120


787,451
584,001
Page 22

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 22%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
3,078,049
2,079,502


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22%)
769,512
457,490

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
14,584
3,462

Fixed asset differences
6,265
(26,837)

Adjustments to tax charge in respect of prior periods
-
(168,707)

Non-taxable income
(2,910)
(1,110)

Remeasurement of deferred tax for changes in tax rates
-
88,125

Tax losses carried back
-
231,578

Total tax charge for the year
787,451
584,001

Page 23

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
12.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


13.


Dividends

2024
2023
£
£


Ordinary shares of £1 each
1,500,000
1,000,000

1,500,000
1,000,000


14.


Intangible assets




Computer software

£



Cost


At 1 October 2023
84,698



At 30 September 2024

84,698



Amortisation


At 1 October 2023
84,559


Charge for the year on owned assets
139



At 30 September 2024

84,698



Net book value



At 30 September 2024
-



At 30 September 2023
139



Page 24

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

15.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
3,401,392
9,463,630
156,802
268,218
13,290,042


Additions
408,255
1,929,009
36,028
32,181
2,405,473


Disposals
-
(277,054)
-
-
(277,054)



At 30 September 2024

3,809,647
11,115,585
192,830
300,399
15,418,461



Depreciation


At 1 October 2023
942,324
6,241,245
91,473
199,586
7,474,628


Charge for the year on owned assets
163,396
443,226
9,750
25,881
642,253


Charge for the year on financed assets
-
8,000
14,100
-
22,100


Disposals
-
(218,054)
-
-
(218,054)



At 30 September 2024

1,105,720
6,474,417
115,323
225,467
7,920,927



Net book value



At 30 September 2024
2,703,927
4,641,168
77,507
74,932
7,497,534



At 30 September 2023
2,459,068
3,222,385
65,329
68,632
5,815,414

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
70,157
228,945

Motor vehicles
67,528
45,600

137,685
274,545

Page 25

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16.


Stocks

2024
2023
£
£

Raw materials and consumables
371,583
665,984

Finished goods and goods for resale
17,650
108,275

389,233
774,259



17.


Debtors

2024
2023
£
£


Trade debtors
3,096,122
2,925,228

Amounts owed by group undertakings
7,833,600
7,610,490

Other debtors
371,341
378,765

Prepayments and accrued income
218,325
194,510

11,519,388
11,108,993



18.


Current asset investments

2024
2023
£
£

Listed investments
26,225
24,633

26,225
24,633



19.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,220,731
950,371

1,220,731
950,371


Page 26

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

20.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
553,521
1,166,998

Amounts owed to group undertakings
3,304,845
2,085,012

Other taxation and social security
478,500
256,509

Obligations under finance lease and hire purchase contracts
43,357
74,626

Accruals and deferred income
471,797
514,743

4,852,020
4,097,888


Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


21.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
41,820
60,809

41,820
60,809


Net obligations under finance lease and hire purchase contracts are secured on the assets concerned.


22.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
46,325
76,657

Between 1-5 years
42,582
64,540

88,907
141,197

Page 27

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

23.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,246,956
975,004

Financial assets that are debt instruments measured at amortised cost
10,931,347
10,544,768

12,178,303
11,519,772


Financial liabilities


Financial liabilities measured at amortised cost
(4,330,161)
(3,766,754)


Financial assets measured at fair value through profit or loss comprise cash at bank and in hand, together with current asset investments.


Financial assets that are debt instruments measured at amortised cost comprise trade, group and other debtors.


Financial liabilities measured at amortised cost comprise trade and group creditors and accruals.


24.


Deferred taxation




2024


£






At beginning of year
(1,091,938)


Charged to profit or loss
(453,561)



At end of year
(1,545,499)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,549,081)
(1,101,332)

Short term timing differences
3,582
9,394

(1,545,499)
(1,091,938)

Page 28

 
BATHGATE SILICA SAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

25.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



12,690 (2023 - 12,690) Ordinary shares of £1.00 each
12,690
12,690



26.


Reserves

Profit & loss account

The profit and loss account represents total accumulated profits and losses to date less any dividends declared and paid.


27.


Pension commitments

The  company  pays into personal pension plans.  The  assets  in  the  plans  are  held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the plans. Contributions totalling £21,586 (2023 - £Nil) were payable to the fund at the reporting date and are included in creditors.


28.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
45,463
18,099

Later than 1 year and not later than 5 years
52,427
28,186

97,890
46,285


29.


Related party transactions

The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 and has not disclosed transactions with other wholly owned group companies.


30.


Controlling party

The company's ultimate parent company, which prepares consolidated financial statements is Archibald Bathgate  Group  Limited.  Copies  of  the  parent  company's  financial  statements  can  be  obtained from Companies House, Cardiff.
The directors consider the controlling party to be R.H. Walker.

 
Page 29