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Registration number: 03486842

Glebe Quarry Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Glebe Quarry Limited

Contents

Company Information | 1
Director's Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 12

Glebe Quarry Limited

Company Information

Director | Mr Michael Keogh

Registered office | 30-32 Trebarwith Crescent Newquay Cornwall England TR7 1DX

Accountants | Crane & Johnston C&J Ltd Chartered Certified Accountants30-32 Trebarwith Crescent Newquay Cornwall TR7 1DX

Glebe Quarry Limited

Director's Report for the Year Ended 31 December 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director of the company

The director who held office during the year was as follows:

Mr Michael Keogh

Principal activity

The principal activity of the company is continued to be the operation of a waste transfer station and waste disposal

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 2 July 2026 and signed on its behalf by:

Mr Michael Keogh Director |  |

Glebe Quarry Limited

(Registration number: 03486842)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 810,524 | 901,850
Current assets |  |  |
Debtors | 6 | 471,906 | 44,929
Creditors: Amounts falling due within one year | 7 | (804,018) | (645,335)
Net current liabilities |  | (332,112) | (600,406)
Total assets less current liabilities |  | 478,412 | 301,444
Creditors: Amounts falling due after more than one year | 7 | (221,320) | (277,931)
Provisions for liabilities |  | (51,079) | -
Net assets |  | 206,013 | 23,513
Capital and reserves |  |  |
Called up share capital | 8 | 1,000 | 1,000
Retained earnings |  | 205,013 | 22,513
Shareholders' funds |  | 206,013 | 23,513

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 2 July 2026

Glebe Quarry Limited

(Registration number: 03486842)
Balance Sheet as at 31 December 2025 (continued)

Mr Michael Keogh Director |  |

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30-32 Trebarwith Crescent
Newquay
Cornwall
TR7 1DX
England

These financial statements were authorised for issue by the director on 2 July 2026.

2 | 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises 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.

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:

Asset class | Depreciation method and rate
Plant and Machinery | 20% straight line and 25% reducing balance basis
Leasehold Property Improvement | 2% straight line

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 24 (2024 - 18).

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4 | Profit/loss before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 253,474 | 284,166

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 70,525 | 1,418,723 | 957,120 | 2,446,368
Additions | 2,600 | 170,526 | 120,100 | 293,226
Disposals | - | (521,225) | (136,750) | (657,975)
At 31 December 2025 | 73,125 | 1,068,024 | 940,470 | 2,081,619
Depreciation
At 1 January 2025 | 15,535 | 1,021,203 | 507,780 | 1,544,518
Charge for the year | 2,010 | 118,685 | 132,780 | 253,475
Eliminated on disposal | - | (428,466) | (98,432) | (526,898)
At 31 December 2025 | 17,545 | 711,422 | 542,128 | 1,271,095
Carrying amount
At 31 December 2025 | 55,580 | 356,602 | 398,342 | 810,524
At 31 December 2024 | 54,990 | 397,520 | 449,340 | 901,850

Included within the net book value of land and buildings above is £9,591 (2024 - £7,596) in respect of freehold land and buildings and £45,989 (2024 - £47,394) in respect of long leasehold land and buildings.

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6 | debtors

Current | 2025 £ | 2024 £
Trade debtors | 461,322 | 43,050
Prepayments | 2,100 | 1,479
Other debtors | 8,484 | 400
| 471,906 | 44,929

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 486,777 | 394,674
Trade creditors |  | 99,787 | 60,437
Taxation and social security |  | 71,293 | 57,637
Accruals and deferred income |  | 12,797 | 11,195
Other creditors |  | 133,364 | 121,392
|  | 804,018 | 645,335

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 221,320 | 277,931

The bank overdraft with Bank of Scotland is secured on the property Glebe Quarry, Trezaise Road, Roche, Cornwall PL26 8JT.

8 | Share capital

Allotted, called up and fully paid shares

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

8 | Share capital (continued)

| 2025 | 2024
| No. | £ | No. | £
Shares Issued of £1 each | 1,000 | 1,000 | 1,000 | 1,000

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 5,334
Hire purchase contracts | 221,320 | 272,597
| 221,320 | 277,931

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 5,789 | 10,500
Bank overdrafts | 287,915 | 211,168
Hire purchase contracts | 193,073 | 173,006
| 486,777 | 394,674

10 | Related party transactions

Transactions with the director

Glebe Quarry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

10 | Related party transactions (continued)

2025 | Advances to directors £ | Repayments by director £ | At 31 December 2025 £
Mr Michael Keogh
Loan to the director | 24,204 | (35,683) | (131,669)

2024 | At 1 January 2024 £ | Advances to director £ | Repayments by director £ | At 31 December 2024 £
Mr Michael Keogh
Loan to the director | (113,860) | 25,418 | (31,749) | (120,191)