Registration number: 05656499

Road Engineering Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 8

Road Engineering Limited

Company Information

Directors

Mr L Duerden Mr P Macadam Mr S O'Neill

Registered office

XLCR House 35-43 Albert Road Colne Lancashire BB8 0BU

Accountants

Hargreaves Brown & Benson Chartered Accountants 1 Bond Street Colne Lancashire BB8 9DG

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Road Engineering Limited
for the Year Ended 30 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Road Engineering Limited for the year ended 30 December 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Road Engineering Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Road Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Road Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Road Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Road Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Road Engineering Limited. You consider that Road Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Road Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

24 September 2025

Road Engineering Limited

(Registration number: 05656499)
Balance Sheet as at 30 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	94,251	103,057
Investment property	5	541,693	541,693
		635,944	644,750
Current assets
Debtors	6	12,468	16,722
Cash at bank and in hand		1,915	5,513
		14,383	22,235
Creditors: Amounts falling due within one year	7	(41,024)	(35,756)
Net current liabilities		(26,641)	(13,521)
Total assets less current liabilities		609,303	631,229
Creditors: Amounts falling due after more than one year	7	(668,975)	(680,648)
Net liabilities		(59,672)	(49,419)
Capital and reserves
Called up share capital		100	100
Retained earnings		(59,772)	(49,519)
Shareholders' deficit		(59,672)	(49,419)

For the financial year ending 30 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 24 September 2025 and signed on its behalf by:
 

......................................... Mr L Duerden Director

Road Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

1	General information

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

The address of its registered office is:
XLCR House
35-43 Albert Road
Colne
Lancashire
BB8 0BU

These financial statements were authorised for issue by the Board on 24 September 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. The company continues to receive the support of OneX CFL Ltd. This support is expected to continue for a period of greater than 12 months.

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
Fixture and fittings	15% straight line
Equipment	20% straight line
Motor vehicles	20% straight line
Leasehold improvements	10% straight line

Road Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Gains and losses arising from changes in the fair value of investment properties are included in the Profit and Loss Account in the period in which they arise.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Road Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2023 - 3).

4	Tangible assets

	Leasehold improvements £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 31 December 2023	98,433	22,712	10,000	131,145
Additions	2,140	-	-	2,140
At 30 December 2024	100,573	22,712	10,000	133,285
Depreciation
At 31 December 2023	7,235	10,853	10,000	28,088
Charge for the year	9,167	1,779	-	10,946
At 30 December 2024	16,402	12,632	10,000	39,034
Carrying amount
At 30 December 2024	84,171	10,080	-	94,251
At 30 December 2023	91,198	11,859	-	103,057

Included within the net book value of land and buildings above is £84,171 (2023 - £91,198) in respect of long leasehold land and buildings.
 

5	Investment properties

	2024 £
At 31 December	541,693
At 30 December	541,693

There has been no valuation of investment property by an independent valuer.

Road Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

6

Debtors

	2024 £	2023 £
Trade debtors	191	-
Prepayments	1,155	1,623
Other debtors	11,122	15,099
	12,468	16,722

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	11,673	11,673
Trade creditors		11,441	4,289
Taxation and social security		2	-
Accruals and deferred income		700	700
Other creditors		17,208	19,094
		41,024	35,756

The loans and borrowings are secured by a fixed and floating charge over the company's assets.

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	169,136	180,809
Other non-current financial liabilities		499,839	499,839
		668,975	680,648

Loans and borrowings outstanding at the reporting date include instalments due after more than five years of £122,440 (2023 - £134,114).

The loans and borrowings are secured by a fixed and floating charge over the company's assets.

Road Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	169,136	180,809

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	11,673	11,673

9	Related party transactions

Transactions with directors

Summary of transactions with other related parties

OneX CFL Ltd
 (A company of which Mr L Duerden is a director and a person with significant control)
 
During the year the company was continued to be advanced loan facilites by OneX CFL Ltd. The amount owed to OneX CFL Ltd at the balance sheet date was £499,839 (2023 - £499,839). The loan is interest free and repayable on demand.