REGISTERED NUMBER: 08059631 (England and Wales)

Mid Hants Ltd

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

R G Porter

T G Porter

R J Chewter

REGISTERED OFFICE:

2 Oriel Court

Omega Park

Alton

Hampshire

GU34 2YT

REGISTERED NUMBER:

08059631 (England and Wales)

AUDITORS:

Sheen Stickland

Chartered Accountants

Statutory Auditors

2 Oriel Court

Omega Park

Alton

Hampshire

GU34 2YT

The directors present their strategic report for the year ended 31st March 2025.

REVIEW OF BUSINESS

The principal activity of the company is the supply of natural materials, mainly Aggregates and Sand to a wide range of industries and markets, but primarily to the agriculture and construction sectors.

PRINCIPAL RISKS AND UNCERTAINTIES

Within the Agricultural sector, an increase in the number of competitors may constitute a small risk.

In 2024 the UK construction industry output totalled £215.7bn, and is forecast to grow by 1.6% in 2025. This positive outlook is attributed to an upturn in the UK economy, which is likely to boost consumer and business confidence. However, challenges such as labour shortages, financial constraints, and material availability continue to be areas of concern.

Any of these risks could affect the growth of the company, but are outside of the control of the Directors.

FUTURE DEVELOPMENTS

The company are developing and implementing strategies to increase turnover and reduce costs of sales. The construction industry is still buoyant, due to the future need for more housing and infrastructure, therefore the directors are confident that the company will continue to develop and grow within this market.

ON BEHALF OF THE BOARD:

R G Porter - Director

10th December 2025

The directors present their report with the financial statements of the company for the year ended 31st March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2025.

DIRECTORS

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

R G Porter

T G Porter

R J Chewter

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

AUDITORS

The auditors, Sheen Stickland, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R G Porter - Director

10th December 2025

Opinion

We have audited the financial statements of Mid Hants Ltd (the 'company') for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31st March 2025 and of its 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 company 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 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.

Emphasis of matter

We draw your attention to Note 2 which indicates that although the company has made a significant loss for the financial year the company’s directors have confirmed that if required they will provide financial and other support to the company if required. Our opinion is not modified in respect of this matter

Other information

The directors are responsible for the other information. The other information comprises the information in the 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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or

-	the 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 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 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

The laws and regulations applicable to the company were identified through discussions with the director and other management also from our commercial knowledge and experience of the company. Of these laws and regulations, we focused on those that we considered may have a direct material effect on the financial statements or the operations of the company, including but not limited to The Companies Act 2006, taxation legislation, data protection, anti-bribery, anti-money-laundering and employment legislation.

The extent of compliance with these laws and regulations identified above was assessed through making enquiries of management and inspecting legal expenditure and correspondence. The identified laws and regulations were communicated within the audit team, the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

Making enquiries of management as to where they considered there was susceptibility to fraud, them knowledge of actual, suspected and alleged fraud;

To address the risk of fraud through management bias and override of controls, we:

-

Tested journal entries to identify unusual transactions;

-

Performed analytical procedures to identify any unusual or unexpected relationships;

-

Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

Agreeing financial statement disclosures to underlying supporting documentation;

-

Reviewing minutes of meetings of those charged with governance.

-

Enquiring of management as to actual and potential litigation and claims;

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

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.

David Sanders BA FCA (Senior Statutory Auditor)

for and on behalf of Sheen Stickland

Chartered Accountants

Statutory Auditors

2 Oriel Court

Omega Park

Alton

Hampshire

GU34 2YT

12th December 2025

TURNOVER

3

10,912,913

12,074,475

Cost of sales

(10,857,370

)

(10,482,744

)

GROSS PROFIT

55,543

1,591,731

Administrative expenses

(717,524

)

(723,454

)

OPERATING (LOSS)/PROFIT

5

(661,981

)

868,277

Interest receivable and similar income

1,612

5,778

(LOSS)/PROFIT BEFORE TAXATION

(660,369

)

874,055

Tax on (loss)/profit

6

179,769

(220,692

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(480,600

)

653,363

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(480,600

)

653,363

FIXED ASSETS

Tangible assets

7

1,474,340

1,693,252

CURRENT ASSETS

Stocks

8

9,821

12,665

Debtors

9

2,577,405

2,299,806

Cash at bank and in hand

527,920

1,354,654

3,115,146

3,667,125

CREDITORS

Amounts falling due within one year

10

(1,906,688

)

(2,103,814

)

NET CURRENT ASSETS

1,208,458

1,563,311

TOTAL ASSETS LESS CURRENT LIABILITIES

2,682,798

3,256,563

PROVISIONS FOR LIABILITIES

11

(326,867

)

(420,032

)

NET ASSETS

2,355,931

2,836,531

CAPITAL AND RESERVES

Called up share capital

12

2

2

Retained earnings

2,355,929

2,836,529

SHAREHOLDERS' FUNDS

2,355,931

2,836,531

The financial statements were approved by the Board of Directors and authorised for issue on 10th December 2025 and were signed on its behalf by:

R G Porter - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2023

2

2,183,166

2,183,168

Changes in equity

Total comprehensive income

-

653,363

653,363

Balance at 31st March 2024

2

2,836,529

2,836,531

Changes in equity

Total comprehensive income

-

(480,600

)

(480,600

)

Balance at 31st March 2025

2

2,355,929

2,355,931

Cash flows from operating activities

Cash generated from operations

1

(739,621

)

1,415,171

Tax paid

(83,361

)

(5,170

)

Net cash from operating activities

(822,982

)

1,410,001

Cash flows from investing activities

Purchase of tangible fixed assets

(5,364

)

(756,699

)

Interest received

1,612

5,778

Net cash from investing activities

(3,752

)

(750,921

)

(Decrease)/increase in cash and cash equivalents

(826,734

)

659,080

Cash and cash equivalents at beginning of year

2

1,354,654

695,574

Cash and cash equivalents at end of year

2

527,920

1,354,654

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

2025

2024

£

£

(Loss)/profit before taxation

(660,369

)

874,055

Depreciation charges

224,277

211,748

Finance income

(1,612

)

(5,778

)

(437,704

)

1,080,025

Decrease in stocks

2,844

13,071

(Increase)/decrease in trade and other debtors

(190,996

)

620,085

Decrease in trade and other creditors

(113,765

)

(298,010

)

Cash generated from operations

(739,621

)

1,415,171

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 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

527,920

1,354,654

Year ended 31st March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,354,654

695,574

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

1,354,654

(826,734

)

527,920

1,354,654

(826,734

)

527,920

Total

1,354,654

(826,734

)

527,920

1.	STATEMENT OF COMPLIANCE

Mid Hants limited in a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 2 Oriel Court, Omega Park, Alton, Hampshire, GU34 2YT. The registration number is 08059631.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest pound.

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.

The financial statements have been prepared on the going concern basis as the directors have confirmed they will continue to provide the financial and other support required by the company. Mid Hants Limited will also have ongoing support from other mutually owned companies.

Significant judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required make judgements, estimates and assumptions about the carrying amount of assets and liabilities that a readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Provisions against receivables

Using information available up to the date the financial statements have been approved, the Directors make judgments based on experience regarding the level of provision required to account for potentially uncollectible receivables.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities are as follows:-

Useful life of fixed assets

Tangible assets are depreciated over their useful lives taking into account residual values, where appropriate.The useful lives of these assets are estimated based on historic experience and future considerations and these are re-assessed annually.

Impairment of fixed assets

Impairment tests have been carried out on tangible fixed assets where appropriate. Impairment losses have been recognised in profit and loss.

Stock provision

This is assessed by the directors, at the year end an appropriate adjustment is made to stock against the level of slow moving or obsolete stock items, that in their opinion, exist at the balance sheet date.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue from the sale of sands and aggregate goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed payment. This criteria is considered to be met once the goods are delivered to the buyer.

Revenue from the provision of haulage services is recognised once the service has been provided. As the services provided by the company relate to the provision of transport, this criteria is considered met once the transport has been provided to the buyer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Fixtures and fittings are stated at cost less accumulated depreciation and accumulated impairment losses.

Any gain or loss on disposal of an item of fixtures and fittings are determined by comparing the proceeds from disposal with the carrying amount of fixtures and fittings, and is recognised within other income/expenses in profit or loss.

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

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents

These comprise cash at bank and other short term liquid investment.

Debtors

Short term debtors are stated at their nominal value. Loans receivable are measured initially at their nominal value and are measured subsequently at amortised cost using the effective interest method. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and loss account when there is objective evidence that the asset is impaired.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Sale of goods

6,526,937

7,618,643

Rendering of services

4,385,976

4,455,832

10,912,913

12,074,475

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

267,320

265,341

Social security costs

13,416

19,419

Other pension costs

84,757

84,594

365,493

369,354

The average number of employees during the year was as follows:

2025

2024

Employees

7

8

2025

2024

£

£

Directors' remuneration

40,000

40,000

Directors' pension contributions to money purchase schemes

78,800

78,800

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

The only key management personnel are considered to be the directors of the company.

5.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

£

Other operating leases

2,600

3,400

Depreciation - owned assets

224,276

211,749

Auditors' remuneration

10,805

10,290

Auditors' remuneration for non audit work

2,391

6,041

The non-audit remuneration services provided relates to accountancy and tax compliance services provided.

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

(86,604

)

81,411

Deferred tax

(93,165

)

139,281

Tax on (loss)/profit

(179,769

)

220,692

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

(Loss)/profit before tax

(660,369

)

874,055

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(165,092

)

218,514

Effects of:

Expenses not deductible for tax purposes

314

1,225

Capital allowances in excess of depreciation

-

(138,328

)

Depreciation in excess of capital allowances

52,989

-

Utilisation of tax losses

111,790

-

Adjustments to tax charge in respect of previous periods

(86,604

)

-

Deferred tax

(93,166

)

139,281

Total tax (credit)/charge

(179,769

)

220,692

7.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

8,141

2,245,417

40,317

40,431

2,334,306

Additions

-

-

-

5,364

5,364

Disposals

-

-

-

(14,167

)

(14,167

)

At 31st March 2025

8,141

2,245,417

40,317

31,628

2,325,503

DEPRECIATION

At 1st April 2024

2,698

564,144

40,317

33,895

641,054

Charge for year

814

219,758

-

3,704

224,276

Eliminated on disposal

-

-

-

(14,167

)

(14,167

)

At 31st March 2025

3,512

783,902

40,317

23,432

851,163

NET BOOK VALUE

At 31st March 2025

4,629

1,461,515

-

8,196

1,474,340

At 31st March 2024

5,443

1,681,273

-

6,536

1,693,252