Cardigan Sand and Gravel Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 631623

Cardigan Sand and Gravel Company Limited

Filleted Unaudited Financial Statements

31 March 2025

Cardigan Sand and Gravel Company Limited

Financial Statements

Year ended 31 March 2025

Contents	Pages

Statement of financial position	1

Notes to the financial statements	2 to 5

Cardigan Sand and Gravel Company Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	494,242	519,518

Current assets

Stocks		240,424	239,711
Debtors	7	525,772	538,229
Cash at bank and in hand		495,742	394,367
		------------	------------
		1,261,938	1,172,307

Creditors: amounts falling due within one year	8	( 416,169)	( 380,428)
		------------	------------
Net current assets		845,769	791,879
		------------	------------
Total assets less current liabilities		1,340,011	1,311,397
		------------	------------

Capital and reserves

Called up share capital	10	3,825	3,825
Revaluation reserve		128,243	128,243
Capital redemption reserve		1,175	1,175
Profit and loss account		1,206,768	1,178,154
		------------	------------
Shareholders funds		1,340,011	1,311,397
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

Mr MJ McGee

Director

Company registration number: 631623

Cardigan Sand and Gravel Company Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cnwc Y Saeson, Penparc, Cardigan, Ceredigion, SA43 1RB.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents net invoiced sales, excluding value added tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The directors perform annual impairment reviews in accordance with the requirements of FRS 102 section 17 and FRS 102 section 27 to ensure that the recoverable amount is not lower than the carrying value.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	25% Straight line

No depreciation is provided for on Freehold property.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost include direct materials, labour and manufacturing overheads incurred in bringing each product to its present location and condition. Net realisable value is based on estimated selling price less further costs to complete and selling costs.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2024: 17 ).

5. Tax on profit/(loss)

Major components of tax expense/(income)

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	7,087	( 27,520)
	-------	--------
Tax on profit/(loss)	7,087	( 27,520)
	-------	--------

6. Tangible assets

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2024	328,686	2,060,070	2,388,756
Additions	35,588	7,120	42,708
Disposals	–	( 8,195)	( 8,195)
	---------	------------	------------
At 31 March 2025	364,274	2,058,995	2,423,269
	---------	------------	------------
Depreciation
At 1 April 2024	–	1,869,238	1,869,238
Charge for the year	–	67,873	67,873
Disposals	–	( 8,084)	( 8,084)
	---------	------------	------------
At 31 March 2025	–	1,929,027	1,929,027
	---------	------------	------------
Carrying amount
At 31 March 2025	364,274	129,968	494,242
	---------	------------	------------
At 31 March 2024	328,686	190,832	519,518
	---------	------------	------------

Up to and including 1993 it was the company policy to revalue freehold properties. In 2001 the company adopted the transitional provisions of FRS 15 Tangible Fixed Assets. Whilst previous valuations have been retained, they have not been updated. From 2001 it has been company policy not to revalue fixed assets. The last valuation was in 1993.

7. Debtors

	2025	2024
	£	£
Trade debtors	223,607	244,428
Other debtors	302,165	293,801
	---------	---------
	525,772	538,229
	---------	---------

Other debtors include an amount of £Nil (2024 - £Nil) falling due after more than one year.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	77,847	51,745
Social security and other taxes	53,344	49,994
Other creditors	284,978	278,689
	---------	---------
	416,169	380,428
	---------	---------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in debtors (note 7)	138,906	145,992
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	24,694	36,258
Unused tax losses	( 163,600)	( 182,250)
	---------	---------
	(138,906)	(145,992)
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	3,825	3,825	3,825	3,825
	-------	-------	-------	-------

11. Contingencies

The company is a member of The Quarry Products Association. Should claims be made and proven against the Association, each member will be called upon to honour a share of the claim. The company consequently has a contingent liability to any extraordinary calls made against the Association's funds. No claim had been notified at the balance sheet date.

12. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS102.