TT CONCRETE PRODUCTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
Company Registration Number: 04982091

TT CONCRETE PRODUCTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS | PAGES
Company information | 1
Balance sheet | 2 to 3
Notes to the financial statements |  |  |  |  |  | 4 to 10

TT CONCRETE PRODUCTS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS
P C Mace
A Hovanessian
appointed 3 June 2025
C S Baker
P B Smythe
resigned 7 October 2024
SECRETARY
P C Mace
REGISTERED OFFICE
4 Witan Way
Witney
Oxon
OX28 6FF
COMPANY REGISTRATION NUMBER
04982091 England and Wales

TT CONCRETE PRODUCTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
|  |  | Notes |  | 2025 |  |  |  | 2024
|  |  |  |  | £ |  |  |  | £
FIXED ASSETS
Intangible assets | 5 |  |  |  | 20,634 |  |  |  | -
Tangible assets | 6 |  |  |  | 266,672 |  |  |  | 265,226
|  |  |  |  |  |  | 287,306 |  |  |  | 265,226
CURRENT ASSETS
Stock | 409,169 |  |  |  | 404,742
Debtors | 7 |  | 1,140,484 |  |  |  | 1,043,264
Cash at bank and in hand | 866,877 |  |  |  | 1,226,558
|  |  |  |  | 2,416,530 |  |  |  | 2,674,564
CREDITORS: Amounts falling due within one year | 8 |  | 1,134,224 |  |  |  | 1,334,722
NET CURRENT ASSETS | 1,282,306 |  |  |  | 1,339,842
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,569,612 |  |  |  | 1,605,068
Provisions for liabilities and charges | 62,451 |  |  |  | 55,837
NET ASSETS | 1,507,161 |  |  |  | 1,549,231
CAPITAL AND RESERVES
Called up share capital | 7,500 |  |  |  | 7,500
Distributable profit and loss account | 1,499,661 |  |  |  | 1,541,731
SHAREHOLDERS' FUNDS | 1,507,161 |  |  |  | 1,549,231

TT CONCRETE PRODUCTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
P C Mace |  |  |  |  | C S Baker
Director | Director
A Hovanessian
Director
Date approved by the board: 2 September 2025

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1 | GENERAL INFORMATION
| TT Concrete Products Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
| Registered office |  |  |  | Principal place of business
| 4 Witan Way | Gill Mill Quarry
| Witney | Ducklington
| Oxon | Witney
| OX28 6FF | Oxon
|  |  |  |  | OX29 7PP
| The financial statements are presented in Sterling, which is the functional currency of the company.
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
| Basis of preparation of financial statements
| These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
| Revenue recognition

| Turnover represents the sales of manufactured concrete goods, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income.
| The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

| Intangible fixed assets

| Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

| Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be 10 years.
| If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
| Tangible fixed assets

| Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

| Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
| Leasehold property | Straight line basis over the remaining lease term
| Plant and machinery | Straight line basis at 10% per annum
| Computer equipment | Straight line basis at 20% per annum
| Motor vehicles | Reducing balance basis at 25% per annum
| On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
| Financial Instruments
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
| Financial assets are measured at cost and amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

| The impairment for financial assets measured at amortised cost, is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
| The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

| Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
| Impairment of non-financial assets

| At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
| Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
| If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

| Stock

| Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
| The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

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

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
| Leases
| Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

| Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.
| Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.

| Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
| Taxation
| Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
| Deferred tax is measured using 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.
| Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.

| Current and deferred tax assets and liabilities are not discounted.
| Provisions
| A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use is recognised. The provision is measured at the salary cost payable for the period of absence.

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
| Pensions
| The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

| No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

4 | EMPLOYEES
| The average number of persons employed by the company (including directors) during the year was:
|  |  |  |  |  |  |  |  | 2025 |  | 2024
| Average number of employees | 28 |  | 26
5 | INTANGIBLE FIXED ASSETS
|  |  |  |  |  |  | Net goodwill |  | Computer software |  | Total
|  |  |  |  |  |  | £ |  | £ |  | £
| Cost
| At 1 April 2024 | 115,005 |  | - |  | 115,005
| Additions | - |  | 21,217 |  | 21,217
| At 31 March 2025 | 115,005 |  | 21,217 |  | 136,222
| Accumulated amounts written off
| At 1 April 2024 | 115,005 |  | - |  | 115,005
| Charge for year | - |  | 583 |  | 583
| At 31 March 2025 | 115,005 |  | 583 |  | 115,588
| Net book value
| At 1 April 2024 | - |  | - |  | -
| At 31 March 2025 | - |  | 20,634 |  | 20,634

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
6 | TANGIBLE ASSETS
|  |  | Leasehold property |  | Plant and machinery |  | Computer equipment |  | Motor vehicles |  | Total
|  |  | £ |  | £ |  | £ |  | £ |  | £
| Cost
| At 1 April 2024 | 136,152 |  | 1,473,783 |  | 34,359 |  | 96,294 |  | 1,740,588
| Additions | - |  | 45,913 |  | 5,536 |  | 19,000 |  | 70,449
| Disposals | - |  | (50,156) |  | (9,835) |  | (18,000) |  | (77,991)
| At 31 March 2025 | 136,152 |  | 1,469,540 |  | 30,060 |  | 97,294 |  | 1,733,046
| Accumulated depreciation
| At 1 April 2024 | 69,566 |  | 1,326,372 |  | 31,155 |  | 48,269 |  | 1,475,362
| Charge for year | 5,658 |  | 37,740 |  | 3,525 |  | 10,768 |  | 57,691
| Disposals | - |  | (48,547) |  | (9,835) |  | (8,297) |  | (66,679)
| At 31 March 2025 | 75,224 |  | 1,315,565 |  | 24,845 |  | 50,740 |  | 1,466,374
| Net book value
| At 1 April 2024 | 66,586 |  | 147,411 |  | 3,204 |  | 48,025 |  | 265,226
| At 31 March 2025 | 60,928 |  | 153,975 |  | 5,215 |  | 46,554 |  | 266,672
7 | DEBTORS
|  |  |  |  |  |  |  |  | 2025 |  | 2024
|  |  |  |  |  |  |  |  | £ |  | £
| Trade debtors | 1,043,318 |  | 1,020,365
| Prepayments and accrued income | 92,392 |  | 21,121
| Other debtors | 4,774 |  | 1,778
|  |  |  |  |  |  |  |  | 1,140,484 |  | 1,043,264
8 | CREDITORS: Amounts falling due within one year
|  |  |  |  |  |  |  |  | 2025 |  | 2024
|  |  |  |  |  |  |  |  | £ |  | £
| Bank loans and overdrafts | - |  | 2,980
| Trade creditors | 681,381 |  | 739,666
| Taxation and social security | 358,332 |  | 420,754
| Accruals and deferred income | 93,543 |  | 167,750
| Other creditors | 968 |  | 3,572
|  |  |  |  |  |  |  |  | 1,134,224 |  | 1,334,722

TT CONCRETE PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
9 | CONTINGENCIES AND COMMITMENTS
| Other Commitments
| Amounts falling due under operating leases: | 2025 |  | 2024
|  |  |  |  |  |  |  |  | £ |  | £
| In less than one year | 52,570 |  | 52,570
| In more than one but less than five years | 210,281 |  | 210,281
| In more than five years | 249,708 |  | 302,279
|  |  |  |  |  |  |  |  | 512,559 |  | 565,130
10 | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
| The following directors' advances, credits and guarantees took place during the year:
|  |  |  |  | Balance at 1 April 2024 |  | Amounts advanced |  | Amounts repaid |  | Balance at 31 March 2025
|  |  |  |  | £ |  | £ |  | £ |  | £
| P C Mace | 1,778 |  | 1,850 |  | 632 |  | 2,996
| P B Smythe (resigned 7 October 2024) | - |  | 1,050 |  | - |  | 1,050
|  |  |  |  | 1,778 |  | 2,900 |  | 632 |  | 4,046

| These advances are interest free and repayable on demand.

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