Registration number:
The Mortar and Screed Company Limited
for the Year Ended 31 December 2024
The Mortar and Screed Company Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
The Mortar and Screed Company Limited
Company Information
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Directors |
R M Parton P Padfield |
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Registered office |
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Auditors |
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The Mortar and Screed Company Limited
Strategic Report for the Year Ended 31 December 2024
The directors present their strategic report for the year ended 31 December 2024.
Principal activity
The principal activity of the company is that of the production of mortar screed.
Fair review of the business
The directors aim to present a balance and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business.
The company continued to produce and distribute mortar screed to its wide customer base in the Midlands and beyond. The company continues to invest in its plant and equipment and in increasing capacity with capital expenditure totalling over £1m for the year. The fixed assets' net book value totalled £7.9m at 31 December 2024 (2023 - £8.5m).
Turnover for the year decreased by 3.0% to £13.7m and gross profit decreased from £1.4m to £888k. Net assets totalled £2.99m at 31 December 2024 (2023 - £3.33m).
Principal risks and uncertainties
The principal risks and uncertainties facing the business are similiar to those of the sector as a whole. Availability of resources, production efficiencies and staff retention are the key uncertainties that affect the long term performance of the business. The directors focus investment on ensuring that the impact of these risks on the business are minimised as far as possible.
Approved and authorised by the
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The Mortar and Screed Company Limited
Directors' Report for the Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The company's prinicipal financial instruments comprise bank balances, trade debtors, trade creditors and finance leases for plant and machinery additions.
The company's cash balances are held to achieve a competitive rate of interest and an invoice discounting facility for short term borrowing. Trade debtors are managed by regular monitoring of amounts outstanding and applying credit limits for customers. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. Finance lease liabilities are spread over the useful life of the assets to ensure income generation matches the repayments of capital due.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
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The Mortar and Screed Company Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report 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:
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select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
The Mortar and Screed Company Limited
Independent Auditor's Report to the Members of The Mortar and Screed Company Limited
Opinion
We have audited the financial statements of The Mortar and Screed Company Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and 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 31 December 2024 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 auditor 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 director's 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 original financial statements were 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.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
The Mortar and Screed Company Limited
Independent Auditor's Report to the Members of The Mortar and Screed Company Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Directors' Report.
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 4], 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 is 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.
Auditor 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 an auditor’s report 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 Mortar and Screed Company Limited
Independent Auditor's Report to the Members of The Mortar and Screed Company Limited
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 obtained an understanding of the legal and regulatory frameworks that are applicable to this company and its sector and determined that the most significant are those relating to the reporting framework and the relevant UK tax legislation.
• We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.
• As an audit engagement team, we assessed the susceptibility of the company’s financial statements to material misstatement including how fraud might occur and considered the opportunities and incentives that may exist within the company for fraud. We considered the controls that the company has established to address the risks identified to prevent, deter and detect fraud; and how the management and directors monitor those controls.
• Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Those procedures involved: - enquiries of management and those charged with governance; - journal entry testing; - assessing whether judgements in making accounting estimates are indicative of a potential bias; and – evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
• Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included revenue recognition and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
• We remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
The Mortar and Screed Company Limited
Independent Auditor's Report to the Members of The Mortar and Screed Company Limited
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 an auditor’s report 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.
For and on behalf of
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shropshire
SY2 6LG
The Mortar and Screed Company Limited
Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
|
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Administrative expenses |
( |
( |
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Operating profit |
116,230 |
753,577 |
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Interest payable and similar expenses |
( |
( |
|
|
(Loss)/profit before tax |
( |
|
|
|
Tax on (loss)/profit |
|
( |
|
|
(Loss)/profit for the financial year |
( |
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
The Mortar and Screed Company Limited
(Registration number: 08873886)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
240 |
240 |
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Retained earnings |
2,984,856 |
3,331,987 |
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Shareholders' funds |
2,985,096 |
3,332,227 |
Approved and authorised by the
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The Mortar and Screed Company Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Loss for the year |
- |
( |
( |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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|
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Profit for the year |
- |
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|
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Dividends |
- |
( |
( |
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At 31 December 2023 |
240 |
3,331,987 |
3,332,227 |
The Mortar and Screed Company Limited
Statement of Cash Flows for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Cash flows from operating activities |
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(Loss)/profit for the year |
( |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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Loss on disposal of tangible assets |
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Finance costs |
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Income tax expense |
( |
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||
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Working capital adjustments |
|||
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Decrease/(increase) in stocks |
|
( |
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Increase in trade debtors |
( |
( |
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(Decrease)/increase in trade creditors |
( |
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Cash generated from operations |
|
|
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Income taxes received |
|
- |
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Net cash flow from operating activities |
|
|
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Cash flows from investing activities |
|||
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
|
|
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Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
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Interest paid |
( |
( |
|
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Proceeds from bank borrowing draw downs |
|
|
|
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Proceeds from other borrowing draw downs |
|
- |
|
|
Repayment of other borrowing |
- |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Dividends paid |
( |
( |
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|
Net cash flows from financing activities |
( |
( |
|
|
Net decrease in cash and cash equivalents |
( |
( |
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Cash and cash equivalents at 1 January |
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Cash and cash equivalents at 31 December |
3,230 |
20,633 |
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The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Four Ashes Industrial Estate
Enterprise Drive
Four Ashes
Wolverhampton
WV10 7DF
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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 Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Key sources of estimation uncertainty
The preparation of the financial statements requires the use of certain critical accounting estimates and requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements include revenue recognition and depreciation. The principal accounting policies have been consistently applied.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
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.
The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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:
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Asset class |
Depreciation method and rate |
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Leasehold property costs |
10% straight line |
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Plant and machinery |
10% straight line |
|
Mobile plant |
16.67% - 20% straight line |
|
Motor cars |
15% straight line |
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Fixtures and fittings |
3 years straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2024 |
2023 |
|
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Sale of goods |
|
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Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2024 |
2023 |
|
|
Loss on disposal of tangible assets |
( |
( |
|
Operating profit |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
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Loss on disposal of property, plant and equipment |
|
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Interest payable and similar expenses |
|
2024 |
2023 |
|
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Interest on obligations under finance leases and hire purchase contracts |
|
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Interest expense on other finance liabilities |
|
- |
|
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The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2024 |
2023 |
|
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Wages and salaries |
|
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Social security costs |
|
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Pension costs, defined contribution scheme |
|
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2024 |
2023 |
|
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Production |
|
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Administration and support |
|
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|
|
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Auditors' remuneration |
|
2024 |
2023 |
|
|
Audit of the financial statements |
|
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The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2024 |
2023 |
|
|
Current taxation |
||
|
UK corporation tax adjustment to prior periods |
( |
- |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Arising from changes in tax rates and laws |
( |
|
|
Total deferred taxation |
( |
|
|
Tax (receipt)/expense in the income statement |
( |
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2024 |
2023 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
( |
- |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax (credit)/expense from unrecognised temporary difference from a prior period |
( |
|
|
Total tax (credit)/charge |
( |
|
The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Deferred tax
Deferred tax assets and liabilities
|
2024 |
Liability |
|
Accelerated tax depreciation |
|
|
Tax losses carry-forwards |
( |
|
Other short term timing differences |
( |
|
|
|
2023 |
Liability |
|
Accelerated tax depreciation |
|
|
Tax losses carry-forwards |
( |
|
Other short term timing differences |
( |
|
|
The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Mobile plant |
Motor cars |
Other tangible assets |
Total |
|
|
Cost or valuation |
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|
At 1 January 2024 |
|
|
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Additions |
|
|
|
|
|
|
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Disposals |
- |
- |
( |
( |
( |
( |
|
At 31 December 2024 |
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|
|
|
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Depreciation |
||||||
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At 1 January 2024 |
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|
|
|
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Charge for the year |
|
|
|
|
|
|
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Eliminated on disposal |
- |
- |
( |
( |
- |
( |
|
At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Included within the net book value of land and buildings above is £115,954 (2023 - £115,954) in respect of freehold land and buildings and £1,526,865 (2023 - £1,442,655) in respect of short leasehold land and buildings.
Included in the carrying value of tangible fixed assets are assets held under finance leases with a net book value at the year end of £4,719,267 (2023 - £5,261,688). The depreciation charge for the year on these assets amounted to £921,348 (2023 - £937,538).
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Stocks |
|
2024 |
2023 |
|
|
Work in progress |
|
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Other inventories |
|
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|
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Debtors |
|
Current |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
Income tax asset |
- |
|
|
|
|
|
|
Cash and cash equivalents |
|
2024 |
2023 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
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The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Creditors |
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
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Trade creditors |
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|
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Social security and other taxes |
|
|
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Outstanding defined contribution pension costs |
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Other payables |
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Accruals |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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Provisions for liabilities |
|
Deferred tax |
Total |
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At 1 January 2024 |
|
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|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 December 2024 |
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Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
120 |
|
120 |
|
|
|
120 |
|
120 |
|
|
|
|
|
|
|
Loans and borrowings |
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Finance lease liabilities |
|
|
Current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
|
Finance lease liabilities |
|
|
|
|
|
|
The HP and finance lease liabilities are secured against the assets to which they relate.
Bank borrowings relates to an invoice discounting facility.
The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
|
Dividends |
Interim dividends paid
|
2024 |
2023 |
|||
|
Interim dividend of £Nil per each |
- |
- |
||
|
Interim dividend of £ |
|
|
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The Mortar and Screed Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Summary of transactions with other related parties
Staffordshire Sand and Gravel Company Limited £443,406 (2023 - £443,406)
Salop Sand and Gravel Supply Company Limited £1,338,451 (2023 - £792,096)
Monies due from related parties at the year end amounted to :-
Wildmoor Quarry Products Limited £1,051,332 (2023 - £1,094,260)
Shropshire Sand and Gravel Company Limited £271,840 (2023 - £264,840)
SSG Haulage Ltd £35,425 (2023 - £27,601)
Cheshire & North Wales Sand & Gravel Limited £296,500 (2023 - £288,516)