REGISTERED NUMBER: 00533478 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2024

for

Wm.Allison & Sons Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Profit and Loss Account

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

17

DIRECTORS:

M N Allison

P R Allison

SECRETARY:

P R Allison

REGISTERED OFFICE:

7 South Church Road

BISHOP AUCKLAND

County Durham

DL14 7LB

REGISTERED NUMBER:

00533478 (England and Wales)

SENIOR STATUTORY AUDITOR:

Martin Hobson BA (Hons), FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The results for the year show a group pre-tax loss of £(255,458) (2023:£1,298,247 profit). Equity shareholders funds amounted £6,429,042 (2023: £6,694,121).

EBITDA for the period was positive being £264,721 (2023: £1,945,077).

The divisions within the group have had differing fortunes going through 2024, with a slow start for the stone manufacturing side turning into a strong finish to the year, and a below average harvest for the farming side but livestock performing well. Haulage has been a challenging market but cost inflation is well under control as it is for our quarrying division which has had strong a strong performance throughout the year.

2025 has seen an steady flow of profitable work so far and we have a strong order book going forward.

Key Performance Indicators

Given the unique nature of the group's services, the use of key performance indicators is not considered meaningful in gaining an understanding of the development, performance or position of the business.

PRINCIPAL RISKS AND UNCERTAINTIES

Commercial Risks

The group operates in several different business sectors. Whilst competitors exist in each individual sector, the group has no local competitor which can provide all of the services it does. As such, the directors believe that due to the diversity of it's business, a drop in sales from one sector would in part be compensated for by the other business sectors. Therefore, commercial risk is deemed to be low.

Legislative Risks

The group operates in a sector that is subject to high levels of regulation. As such, the group must comply with several regulations to be able to operate. The directors are confident that they comply with all regulations and previous inspections have shown no issues. As such, they believe the risk to be low.

Cash Flow Risks

The group has and continues to enjoy a strong working relationship with the group's Bank that provides sufficient facility for the requirements of the business. The directors consider that current arrangements will continue into the foreseeable future providing adequate resources to support the group's needs.

Uncertainties

The principal uncertainty of the group relates to the restoration of the quarry. A provision has been made in the accounts as a best estimate of the expected costs of restoring the quarry, however due to the ongoing quarrying work the estimate contains inherent uncertainties.

ON BEHALF OF THE BOARD:

P R Allison - Director

29 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of:

a) quarrying

b) stone masonry

c) haulage

d) plant hire

e) farming

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 60,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

M N Allison

P R Allison

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

P R Allison - Director

29 September 2025

Opinion

We have audited the financial statements of Wm.Allison & Sons Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 group's and of the parent company affairs as at 31 December 2024 and of the group's loss 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 Statement of Directors' Responsibilities set out on page three, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We undertake the following procedures to identify and respond to these risks of non-compliance:-

- Understanding the key legal and regulatory frameworks that are applicable to the Group. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be around GDPR, health & safety, employment law,company law and taxation law.

- Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

- Review of board minutes and correspondence with regulators.

- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed.

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries. Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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 Report of the Auditors.

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 2006. Our 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 a Report of the Auditors 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.

Martin Hobson BA (Hons), FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

29 September 2025

TURNOVER

3

5,197,147

9,783,525

Cost of sales

(4,358,217

)

(7,224,804

)

GROSS PROFIT

838,930

2,558,721

Administrative expenses

(1,128,961

)

(1,302,489

)

(290,031

)

1,256,232

Other operating income

86,144

86,904

OPERATING (LOSS)/PROFIT

6

(203,887

)

1,343,136

Interest payable and similar expenses

7

(51,571

)

(44,889

)

(LOSS)/PROFIT BEFORE TAXATION

(255,458

)

1,298,247

Tax on (loss)/profit

8

50,379

(247,018

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(205,079

)

1,051,229

(Loss)/profit attributable to:

Owners of the parent

(205,079

)

1,051,229

(LOSS)/PROFIT FOR THE YEAR

(205,079

)

1,051,229

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(205,079

)

1,051,229

Total comprehensive income attributable to:

Owners of the parent

(205,079

)

1,051,229

FIXED ASSETS

Intangible assets

11

2,205

2,835

Tangible assets

12

7,520,120

7,847,103

Investments

13

-

-

7,522,325

7,849,938

CURRENT ASSETS

Stocks

14

927,086

993,964

Debtors

15

1,260,271

1,881,083

Investments

16

1,611

1,611

Cash at bank and in hand

362,627

363,998

2,551,595

3,240,656

CREDITORS

Amounts falling due within one year

17

(2,048,254

)

(2,670,604

)

NET CURRENT ASSETS

503,341

570,052

TOTAL ASSETS LESS CURRENT LIABILITIES

8,025,666

8,419,990

CREDITORS

Amounts falling due after more than one year

18

(867,920

)

(1,066,287

)

PROVISIONS FOR LIABILITIES

22

(728,704

)

(659,582

)

NET ASSETS

6,429,042

6,694,121

CAPITAL AND RESERVES

Called up share capital

23

18,300

18,300

Capital redemption reserve

29,745

29,745

Retained earnings

6,380,997

6,646,076

SHAREHOLDERS' FUNDS

6,429,042

6,694,121

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

P R Allison - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

7,510,748

7,845,804

Investments

13

16,800

16,800

7,527,548

7,862,604

CURRENT ASSETS

Stocks

14

426,590

233,066

Debtors

15

638,433

1,217,718

Investments

16

1,611

1,611

Cash at bank and in hand

107,378

242,552

1,174,012

1,694,947

CREDITORS

Amounts falling due within one year

17

(1,619,685

)

(2,120,575

)

NET CURRENT LIABILITIES

(445,673

)

(425,628

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,081,875

7,436,976

CREDITORS

Amounts falling due after more than one year

18

(866,384

)

(1,066,287

)

PROVISIONS FOR LIABILITIES

22

(373,852

)

(449,206

)

NET ASSETS

5,841,639

5,921,483

CAPITAL AND RESERVES

Called up share capital

23

18,300

18,300

Retained earnings

5,823,339

5,903,183

SHAREHOLDERS' FUNDS

5,841,639

5,921,483

Company's (loss)/profit for the financial year

(19,844

)

794,198

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

P R Allison - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 July 2022

18,300

5,700,847

29,745

5,748,892

Changes in equity

Dividends

-

(106,000

)

-

(106,000

)

Total comprehensive income

-

1,051,229

-

1,051,229

Balance at 31 December 2023

18,300

6,646,076

29,745

6,694,121

Changes in equity

Dividends

-

(60,000

)

-

(60,000

)

Total comprehensive income

-

(205,079

)

-

(205,079

)

Balance at 31 December 2024

18,300

6,380,997

29,745

6,429,042

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2022

18,300

5,214,985

5,233,285

Changes in equity

Dividends

-

(106,000

)

(106,000

)

Total comprehensive income

-

794,198

794,198

Balance at 31 December 2023

18,300

5,903,183

5,921,483

Changes in equity

Dividends

-

(60,000

)

(60,000

)

Total comprehensive income

-

(19,844

)

(19,844

)

Balance at 31 December 2024

18,300

5,823,339

5,841,639

Cash flows from operating activities

Cash generated from operations

1

345,786

1,954,765

Interest paid

(31,319

)

(31,956

)

Interest element of hire purchase payments paid

(20,252

)

(17,933

)

Finance costs paid

-

5,000

Tax paid

154,149

(345,871

)

Net cash from operating activities

448,364

1,564,005

Cash flows from investing activities

Purchase of tangible fixed assets

(50,473

)

(1,752,149

)

Sale of tangible fixed assets

79,078

211,000

Net cash from investing activities

28,605

(1,541,149

)

Cash flows from financing activities

New loans in year

-

300,000

Loan repayments in year

(86,027

)

(128,800

)

Capital repayments in year

(265,336

)

(237,015

)

Amount introduced by directors

-

339,548

Amount withdrawn by directors

(81,003

)

(119,694

)

Equity dividends paid

(60,000

)

(106,000

)

Net cash from financing activities

(492,366

)

48,039

(Decrease)/increase in cash and cash equivalents

(15,397

)

70,895

Cash and cash equivalents at beginning of year

2

13,507

(57,388

)

Cash and cash equivalents at end of year

2

(1,890

)

13,507

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.7.22

Year Ended

to

31.12.24

31.12.23

£

£

(Loss)/profit before taxation

(255,458

)

1,298,247

Depreciation charges

514,168

750,673

Profit on disposal of fixed assets

(45,560

)

(153,732

)

Movement in quarry restoration provision

142,467

(37,713

)

Finance costs

51,571

44,889

407,188

1,902,364

Decrease/(increase) in stocks

66,878

(150,163

)

Decrease/(increase) in trade and other debtors

620,812

(25,691

)

(Decrease)/increase in trade and other creditors

(749,092

)

228,255

Cash generated from operations

345,786

1,954,765

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

362,627

363,998

Bank overdrafts

(364,517

)

(350,491

)

(1,890

)

13,507

Period ended 31 December 2023

31.12.23

1.7.22

£

£

Cash and cash equivalents

363,998

310,233

Bank overdrafts

(350,491

)

(367,621

)

13,507

(57,388

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

363,998

(1,371

)

362,627

Bank overdrafts

(350,491

)

(14,026

)

(364,517

)

13,507

(15,397

)

(1,890

)

Liquid resources

Current asset investments

1,611

-

1,611

1,611

-

1,611

Debt

Finance leases

(434,393

)

95,736

(338,657

)

Debts falling due within 1 year

(85,139

)

(8,839

)

(93,978

)

Debts falling due after 1 year

(817,150

)

94,866

(722,284

)

(1,336,682

)

181,763

(1,154,919

)

Total

(1,321,564

)

166,366

(1,155,198

)

1.	COMPANY INFORMATION

Wm.Allison & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of consolidation

The financial statements consolidate the financial statements of Wm. Allison & Sons Limited and its

subsidiaries: Dunhouse Quarry Co.Limited and Onyx Contractors Limited. All of the entities' financial statements are made up to 31 December 2024 and transactions between group companies have been eliminated on consolidation. No separate income statement for Wm. Allison & Sons Limited is presented, as permitted by Section 408 of the Companies Act 2006.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Stock valuation - There is an element of estimation and judgement made by the directors to reach the final stock volumes due to the nature of the stock.

Quarry restoration provision - Provision has been made in the accounts as a best estimate of the expected costs of restoring the quarry. Due to the ongoing quarrying work the estimate contains inherent judgements and estimations.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Income is recognised as per the contract conditions of sale.

Goodwill

Goodwill is being amortised evenly over its estimated useful life of twenty years.

Goodwill arising on the acquisition of subsidiary undertakings, representing any excess of the

fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and amortised on a straight line basis over its useful economic life, which is 20 years. Goodwill is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.