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Registration number: 06789637

Nationwide Silo Access Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Nationwide Silo Access Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Nationwide Silo Access Services Ltd

Company Information

Directors

Mrs Emma Maddock

Mr Christopher Frank Maddock

Registered office

Unit 18 Blythe Park, Cresswell Lane
Cresswell
Stoke-on-trent
Staffordshire
ST11 9RD

 

Nationwide Silo Access Services Ltd

(Registration number: 06789637)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,385,781

1,048,531

Current assets

 

Debtors

5

663,674

374,148

Cash at bank and in hand

 

125,336

713,486

 

789,010

1,087,634

Creditors: Amounts falling due within one year

6

(595,563)

(814,548)

Net current assets

 

193,447

273,086

Total assets less current liabilities

 

1,579,228

1,321,617

Creditors: Amounts falling due after more than one year

6

(469,805)

(323,654)

Provisions for liabilities

(297,910)

(210,498)

Net assets

 

811,513

787,465

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

811,511

787,463

Shareholders' funds

 

811,513

787,465

For the financial year ending 31 December 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 7 August 2025 and signed on its behalf by:
 

.........................................
Mr Christopher Frank Maddock
Director

   
     
 

Nationwide Silo Access Services Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 18 Blythe Park, Cresswell Lane
Cresswell
Stoke-on-trent
Staffordshire
ST11 9RD

These financial statements were authorised for issue by the Board on 7 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

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 taxable income.

 

Nationwide Silo Access Services Ltd

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

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

Equipment

10% RB

Motor Vehicles

25% RB

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 19).

 

Nationwide Silo Access Services Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

978,343

1,454,026

2,432,369

Additions

402,567

171,149

573,716

Disposals

-

(19,990)

(19,990)

At 31 December 2024

1,380,910

1,605,185

2,986,095

Depreciation

At 1 January 2024

496,438

887,400

1,383,838

Charge for the year

56,192

161,950

218,142

Eliminated on disposal

-

(1,666)

(1,666)

At 31 December 2024

552,630

1,047,684

1,600,314

Carrying amount

At 31 December 2024

828,280

557,501

1,385,781

At 31 December 2023

481,905

566,626

1,048,531

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

308,783

283,040

Amounts owed by related parties

10

214,754

971

Other debtors

 

140,137

90,137

   

663,674

374,148

 

Nationwide Silo Access Services Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

338,477

351,209

Trade creditors

 

131,287

75,578

Taxation and social security

 

54,719

193,596

Accruals and deferred income

 

6,567

4,799

Other creditors

 

64,513

189,366

 

595,563

814,548

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

469,805

323,654

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

15,000

Hire purchase contracts

464,805

308,654

469,805

323,654

 

Nationwide Silo Access Services Ltd

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

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

328,477

173,837

Other borrowings

-

167,372

338,477

351,209

9

Dividends

2024

2023

£

£

Interim dividend of £175,000.00 (2023 - £121,000.00) per ordinary share

350,000

242,000

 

 

10

Related party transactions

Nationwide Silo Access Services Limited is a wholly owed subsiduary of CFM Nationwide Holdings Ltd. The group registered office is Unit 18 Blythe Park, Cresswell Lane, Cresswell, Stoke-on-Trent, Staffordshire, ST11 9RD.

 

Nationwide Silo Access Services Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

68,720

63,860

Contributions paid to money purchase schemes

538

492

69,258

64,352

Loans to related parties

2024

Parent
£

Total
£

At start of period

972

972

Advanced

576,782

576,782

Repaid

(363,000)

(363,000)

At end of period

214,754

214,754

2023

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

16,943

9,277

26,220

Advanced

226,029

-

226,029

Repaid

(242,000)

(9,277)

(251,277)

At end of period

972

-

972