REGISTERED NUMBER: 07687119 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LOCHALINE QUARTZ SAND LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Bozzola

D Trogolo Got

D Zurolo

N C Syder

J Gobbi

REGISTERED OFFICE:

European Technical Centre

Hall Lane

Lathom

L40 5UF

REGISTERED NUMBER:

07687119 (England and Wales)

ACCOUNTANTS:

R A Clement Associates

5 Argyll Square

OBAN

Argyll

PA34 4AZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,636,147

3,454,284

3,636,147

3,454,284

CURRENT ASSETS

Stocks

466,047

772,532

Debtors

6

2,249,288

1,928,325

Cash at bank and in hand

152,190

526,552

2,867,525

3,227,409

CREDITORS

Amounts falling due within one year

7

1,336,974

1,072,196

NET CURRENT ASSETS

1,530,551

2,155,213

TOTAL ASSETS LESS CURRENT LIABILITIES

5,166,698

5,609,497

CREDITORS

Amounts falling due after more than one year

8

(78,191

)

(296,568

)

PROVISIONS FOR LIABILITIES

(672,817

)

(730,688

)

ACCRUALS AND DEFERRED INCOME

(145,555

)

(64,046

)

NET ASSETS

4,270,135

4,518,195

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Retained earnings

3,270,135

3,518,195

SHAREHOLDERS' FUNDS

4,270,135

4,518,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

D Trogolo Got - Director

1.	STATUTORY INFORMATION

Lochaline Quartz Sand 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

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.

Licence are being amortised evenly over their estimated useful life of eight years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

Nil

Mine development during production phase

-

20% on cost

Plant and machinery

-

6.67% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants

Grants received to support capital expenditure will be held within deferred income and amortised over the useful life of the assets funded. Capital grant funding was received in the current period of £103,009 (2023 - Nil) grants received in previous years continue to be amortised the value for the year to 31 December 24 being £21,500 (2023- £15,696).

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charges to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

A summary of the depreciation charge, hire purchase interest and capital repaid in the year is as follows:-

2024

9 mnths Dec 2023

£

£

1

Depreciation charged on assets financed by HP contracts

54,099

45,453

2

Interest charged on HP contracts

34,985

27,401

3

Capital repaid on HP contracts, including deposits

211,540

230,488

Please note that figures under point 1. and 2. are charged on the profit and loss account, otherwise figures under point 3 represents the capital repaid for HP contracts and they are not charged on the profit and loss account.

2024

9 mnths Dec 2023

£

£

1 + 2 Amount charged on profit and loss account

89,084

72,854

3. Amount paid for hire purchase contracts not charged to profit and loss

211,540

230,488

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Licence

£

COST

At 1 January 2024

and 31 December 2024

1,743,235

AMORTISATION

At 1 January 2024

and 31 December 2024

1,743,235

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Mine

development

during

Improvements

Freehold

production

to

property

phase

property

£

£

£

COST

At 1 January 2024

104,000

500,801

140,255

Additions

-

142,833

-

At 31 December 2024

104,000

643,634

140,255

DEPRECIATION

At 1 January 2024

-

284,134

-

Charge for year

-

89,789

-

At 31 December 2024

-

373,923

-

NET BOOK VALUE

At 31 December 2024

104,000

269,711

140,255

At 31 December 2023

104,000

216,667

140,255

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

4,382,892

54,428

136,269

5,318,645

Additions

341,487

523

7,000

491,843

At 31 December 2024

4,724,379

54,951

143,269

5,810,488

DEPRECIATION

At 1 January 2024

1,451,735

35,696

92,796

1,864,361

Charge for year

204,659

3,790

11,742

309,980

At 31 December 2024

1,656,394

39,486

104,538

2,174,341

NET BOOK VALUE

At 31 December 2024

3,067,985

15,465

38,731

3,636,147

At 31 December 2023

2,931,157

18,732

43,473

3,454,284

Depreciation is applied from the month in which the asset is available for use.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

772,880

27,995

800,875

DEPRECIATION

At 1 January 2024

44,846

5,723

50,569

Charge for year

48,531

5,568

54,099

At 31 December 2024

93,377

11,291

104,668

NET BOOK VALUE

At 31 December 2024

679,503

16,704

696,207

At 31 December 2023

728,034

22,272

750,306

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,026,394

1,872,572

Other debtors

222,894

55,753

2,249,288

1,928,325

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

218,377

211,541

Trade creditors

538,249

302,815

Taxation and social security

267,305

228,164

Other creditors

313,043

329,676

1,336,974

1,072,196

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

78,191

296,568

9.	CAPITAL COMMITMENTS

2024

2023

£

£

Contracted but not provided for in the

financial statements

420,000

-

The company paid a deposit of £105,000 towards the purchase of plant during the year. The plant was delivered and brought into use in Spring of 2025. The total value of the plant purchased was £525,000, with the balance being financed by Hire Purchase.