REGISTERED NUMBER: 04957939 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Southern Gravel Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Cox

REGISTERED OFFICE:

19 Queen Elizabeth Street

London

SE1 2LP

REGISTERED NUMBER:

04957939 (England and Wales)

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

FIXED ASSETS

Tangible assets

4

37,941

50,587

CURRENT ASSETS

Debtors

5

195,310

259,581

Cash at bank

8

23,938

195,318

283,519

CREDITORS

Amounts falling due within one year

6

(820,572

)

(1,814,798

)

NET CURRENT LIABILITIES

(625,254

)

(1,531,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(587,313

)

(1,480,692

)

CREDITORS

Amounts falling due after more than one year

7

(2,687,377

)

(1,361,961

)

NET LIABILITIES

(3,274,690

)

(2,842,653

)

CAPITAL AND RESERVES

Called up share capital

9

51,500

51,500

Share premium

10

150,000

150,000

Retained earnings

10

(3,476,190

)

(3,044,153

)

SHAREHOLDERS' FUNDS

(3,274,690

)

(2,842,653

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2026 and were signed by:

Mr M Cox - Director

1.	STATUTORY INFORMATION

Southern Gravel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has reported a net loss of £432,037 for the year.

During the year the company was partly dependent on financial support provided by corporate financiers to meet its operational obligations. At the balance sheet date the company's total liabilities exceeded its total assets by £3,274,690. Of the company's total liabilities at the balance sheet date £3,380,128 related to amounts owed to its corporate financiers.

Although the boards of the company's financiers have given no indication that withdrawal of support is imminent, the director acknowledges that there is no guarantee in that regard. In the event that immediate repayment is sought by the financiers at any time within twelve months from the date of approval of these financial statements, it is unlikely that the company will be able to pay. This is a material uncertainty that casts significant doubt about the company's ability to continue as a going concern for the foreseeable future.

In the director's opinion there is no difference between the amounts stated in the financial statements if prepared on a going concern basis, and those had the financial statements been prepared on a cessation basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of these financial statements requires the directors to note judgements and estimates that affect the reported amount of assets and liabilities at the balance sheet date and the reported profits for the financial year.

Estimates and judgements are continually evaluated and are based on a number of factors including historical experience and expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company does not consider there to be any critical judgements in applying accounting policies.

The company does not consider there to be any material sources of estimation uncertainty.

Turnover

Turnover relates to income from quarry operations net of value added tax.

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 & machinery

-

25% on reducing balance

Fixtures & fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the period relates to current tax which is recognised in the Income Statement. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a workplace pension for the benefit of its eligible employees. Contributions due for the year are accounted for in the Income statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and loans from banks and other third parties.

Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of cash consideration expected to be paid or received.

Debt instruments which are payable or receivable after more than one year are initially measured at the fair value of the cash consideration and thereafter at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Plant &

Fixtures &

Computer

to property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

94,130

215,825

13,930

12,253

336,138

DEPRECIATION

At 1 April 2024

56,478

204,887

13,461

10,725

285,551

Charge for year

9,413

2,734

117

382

12,646

At 31 March 2025

65,891

207,621

13,578

11,107

298,197

NET BOOK VALUE

At 31 March 2025

28,239

8,204

352

1,146

37,941

At 31 March 2024

37,652

10,938

469

1,528

50,587

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

129,306

167,451

Other debtors

60,160

57,443

VAT

-

5,790

Prepayments

5,844

28,897

195,310

259,581

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Other loans (see note 8)

222,881

222,881

Trade creditors

94,511

137,410

Amounts owed to group undertakings

469,870

1,419,666

VAT

2,140

-

Other taxes & PAYE

5,016

6,068

Accruals

26,154

28,773

820,572

1,814,798

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Amounts owed to group undertakings

186,410

-

Other creditors

2,500,967

1,361,961

2,687,377

1,361,961

8.

LOANS

An analysis of the maturity of loans is given below:

31/3/25

31/3/24

£

£

Amounts falling due within one year or on demand:

Other loans

222,881

222,881

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

50,000

Ordinary A

£0.01

500

500

50,000

Ordinary 8

£1

50,000

50,000

1,000

Ordinary

£1

1,000

1,000

51,500

51,500

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2024

(3,044,153

)

150,000

(2,894,153

)

Deficit for the year

(432,037

)

(432,037

)

At 31 March 2025

(3,476,190

)

150,000

(3,326,190

)

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Oxted Greystone Company Ltd.

The ultimate controlling party is PMC Property Group Ltd.