REGISTERED NUMBER: 02392591 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

North Herts Surfacing Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J E Candler

L Candler

D Candler

SECRETARY:

L Candler

REGISTERED OFFICE:

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

BUSINESS ADDRESS:

Wireless Station Park

Chestnut Lane

Kneesworth

Royston

Hertfordshire

SG8 5JH

REGISTERED NUMBER:

02392591 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

1,775,521

1,059,825

CURRENT ASSETS

Stocks

1,552

1,552

Debtors

2,165,268

2,049,849

Cash at bank and in hand

597,366

328,806

2,764,186

2,380,207

CREDITORS

Amounts falling due within one year

1,779,521

1,615,150

NET CURRENT ASSETS

984,665

765,057

TOTAL ASSETS LESS CURRENT LIABILITIES

2,760,186

1,824,882

CREDITORS

Amounts falling due after more than one year

(453,145

)

(291,512

)

PROVISIONS FOR LIABILITIES

(443,402

)

(264,614

)

NET ASSETS

1,863,639

1,268,756

CAPITAL AND RESERVES

Called up share capital

7

300

300

Retained earnings

1,863,339

1,268,456

SHAREHOLDERS' FUNDS

1,863,639

1,268,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 November 2025 and were signed on its behalf by:

L Candler - Director

1.	STATUTORY INFORMATION

North Herts Surfacing 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 represents amounts invoiced for work carried out under service contracts.

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.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Government grants

Government grants are recognised in the financial statements using the accruals model. Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 the shorter.

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

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

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.

Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2024 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

1,446,548

Additions

983,938

Disposals

(100,108

)

At 31 March 2025

2,330,378

DEPRECIATION

At 1 April 2024

386,723

Charge for year

215,746

Eliminated on disposal

(47,612

)

At 31 March 2025

554,857

NET BOOK VALUE

At 31 March 2025

1,775,521

At 31 March 2024

1,059,825

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

Totals

£

COST

At 1 April 2024

1,045,018

Additions

670,099

Transfer to ownership

(204,528

)

At 31 March 2025

1,510,589

DEPRECIATION

At 1 April 2024

190,966

Charge for year

147,918

Transfer to ownership

(77,785

)

At 31 March 2025

261,099

NET BOOK VALUE

At 31 March 2025

1,249,490

At 31 March 2024

854,052

5.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.25

31.3.24

£

£

Gross obligations repayable:

Within one year

422,365

264,951

Between one and five years

505,948

328,045

928,313

592,996

Finance charges repayable:

Within one year

43,757

26,570

Between one and five years

52,803

36,533

96,560

63,103

Net obligations repayable:

Within one year

378,608

238,381

Between one and five years

453,145

291,512

831,753

529,893

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

831,753

529,893

The liability on hire purchase is secured on the assets concerned.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

200

Ordinary 'A'

£1

200

200

300

300

8.	PENSION COMMITMENTS

The pension cost charge represents contributions payable by the company to the fund and amounted to £32,723 (2024: £26,851). At the end of the year on 31 March 2025 there was a balance of £1,913 outstanding to be paid (2024: £1,368).