7 false false false false false false false false false false true false false true false false true true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 338,000 338,000 338,000 xbrli:pure xbrli:shares iso4217:GBP NI003740 2023-09-01 2024-08-31 NI003740 2024-08-31 NI003740 2023-08-31 NI003740 2022-09-01 2023-08-31 NI003740 2023-08-31 NI003740 2022-08-31 NI003740 core:FurnitureFittings 2023-09-01 2024-08-31 NI003740 core:MotorVehicles 2023-09-01 2024-08-31 NI003740 bus:Director1 2023-09-01 2024-08-31 NI003740 bus:Director2 2023-09-01 2024-08-31 NI003740 core:WithinOneYear 2024-08-31 NI003740 core:WithinOneYear 2023-08-31 NI003740 core:LandBuildings 2023-08-31 NI003740 core:PlantMachinery 2023-08-31 NI003740 core:FurnitureFittings 2023-08-31 NI003740 core:MotorVehicles 2023-08-31 NI003740 core:LandBuildings 2024-08-31 NI003740 core:PlantMachinery 2024-08-31 NI003740 core:FurnitureFittings 2024-08-31 NI003740 core:MotorVehicles 2024-08-31 NI003740 core:ShareCapital 2024-08-31 NI003740 core:ShareCapital 2023-08-31 NI003740 core:RetainedEarningsAccumulatedLosses 2024-08-31 NI003740 core:RetainedEarningsAccumulatedLosses 2023-08-31 NI003740 core:LandBuildings 2023-09-01 2024-08-31 NI003740 core:PlantMachinery 2023-09-01 2024-08-31 NI003740 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 NI003740 core:Non-currentFinancialInstruments 2024-08-31 NI003740 core:Non-currentFinancialInstruments 2023-08-31 NI003740 core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 NI003740 core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 NI003740 core:LandBuildings 2023-08-31 NI003740 core:PlantMachinery 2023-08-31 NI003740 core:FurnitureFittings 2023-08-31 NI003740 bus:Director1 2023-08-31 NI003740 bus:Director1 2024-08-31 NI003740 bus:Director2 2023-08-31 NI003740 bus:Director2 2024-08-31 NI003740 bus:Director1 2022-08-31 NI003740 bus:Director1 2023-08-31 NI003740 bus:Director2 2022-08-31 NI003740 bus:Director2 2023-08-31 NI003740 bus:Director1 2022-09-01 2023-08-31 NI003740 bus:Director2 2022-09-01 2023-08-31 NI003740 bus:SmallEntities 2023-09-01 2024-08-31 NI003740 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 NI003740 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI003740 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI003740 bus:FullAccounts 2023-09-01 2024-08-31 NI003740 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: NI003740
D Acheson (Navan Quarries) Limited
Filleted unaudited financial statements
31 August 2024
D Acheson (Navan Quarries) Limited
Statement of financial position
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
594,439
662,842
Investments
6
338,000
338,000
-------
----------
932,439
1,000,842
Current assets
Stocks
7
46,774
53,820
Debtors
8
289,365
276,843
Cash at bank and in hand
2,461,282
2,265,776
----------
----------
2,797,421
2,596,439
Creditors: amounts falling due within one year
9
1,012,402
937,172
----------
----------
Net current assets
1,785,019
1,659,267
----------
----------
Total assets less current liabilities
2,717,458
2,660,109
Provisions
Taxation including deferred tax
33,658
40,294
----------
----------
Net assets
2,683,800
2,619,815
----------
----------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
2,673,800
2,609,815
----------
----------
Shareholders funds
2,683,800
2,619,815
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr JG Acheson
Mr JR Acheson
Director
Director
Company registration number: NI003740
D Acheson (Navan Quarries) Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland, company registration number NI003740 . The address of the registered office is Unit 10, 4 Molesworth Street, Cookstown, BT80 8NX, Tyrone.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and the level of rounding is £1.
Going concern
The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to adopt the going concern basis in preparing the annual financial statements.
Disclosure exemptions
Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the credit rating of the debtor, the age profile of the debtor and historical experience
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2,4,12.5 20% straight line
Plant and Machinery
-
5-20%
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023 and 31 August 2024
1,526,840
2,640,885
66,753
277,194
4,511,672
----------
----------
------
-------
----------
Depreciation
At 1 September 2023
944,971
2,565,779
60,886
277,194
3,848,830
Charge for the year
30,129
37,804
470
68,403
----------
----------
------
-------
----------
At 31 August 2024
975,100
2,603,583
61,356
277,194
3,917,233
----------
----------
------
-------
----------
Carrying amount
At 31 August 2024
551,740
37,302
5,397
594,439
----------
----------
------
-------
----------
At 31 August 2023
581,869
75,106
5,867
662,842
----------
----------
------
-------
----------
6. Investments
Shares in participating interests
£
Cost
At 1 September 2023 and 31 August 2024
338,000
-------
Impairment
At 1 September 2023 and 31 August 2024
-------
Carrying amount
At 31 August 2024
338,000
-------
At 31 August 2023
338,000
-------
The investment consists of 338,000 £1 non-cumulative redeemable preference shares in D Acheson (Pressed Brick) Limited.
7. Stocks
2024
2023
£
£
Raw materials and consumables
33,676
34,655
Finished goods and goods for resale
13,098
19,165
------
------
46,774
53,820
------
------
8. Debtors
2024
2023
£
£
Trade debtors
272,705
260,658
Prepayments and accrued income
11,746
11,271
Other debtors
4,914
4,914
-------
-------
289,365
276,843
-------
-------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
85,904
105,366
Accruals and deferred income
11,425
10,985
Corporation tax
64,752
33,586
Social security and other taxes
44,721
36,784
Director loan accounts
99,372
66,845
Other creditors
706,228
683,606
----------
-------
1,012,402
937,172
----------
-------
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
33,658
40,294
------
------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
33,658
40,294
------
------
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr JG Acheson
( 62,007)
( 33,059)
( 95,066)
Mr JR Acheson
( 4,838)
532
( 4,306)
------
------
------
( 66,845)
( 32,527)
( 99,372)
------
------
------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr JG Acheson
( 68,085)
6,078
( 62,007)
Mr JR Acheson
( 5,821)
983
( 4,838)
------
-----
------
( 73,906)
7,061
( 66,845)
------
-----
------
The amounts due to the directors are unsecured, interest free and repayable on demand.
12. Related party transactions
D Acheson (Pressed Brick) Limited and D Acheson (Limeworks) Limited constitute related parties by virtue of common control. During the period, payments were made and received by D Acheson (Navan Quarries) Limited on behalf of D Acheson (Pressed Brick) Limited. Balances outstanding with related parties were:
2024 2023
£ £
Amounts owed to D Acheson (Limeworks) Limited 40,202 40,202
Amounts owed to D Acheson (Pressed Brick) Limited 666,026 643,404
Non-cumulative redeemable preference shares issued by D Acheson (Pressed Brick) Limited 338,000 338,000
2024 2023
£ £
Dividends paid to the directors during the year 80,000 80,000
13. Ultimate controlling parties
The ultimate controlling parties are JG Acheson and JR Acheson by virtue of their equity shareholdings.