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Registered number:
FOR THE YEAR ENDED 31 MARCH 2026
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BRICE AGGREGATES LIMITED
COMPANY INFORMATION
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BRICE AGGREGATES LIMITED
CONTENTS
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BRICE AGGREGATES LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their group strategic report for the year ended 31 March 2026.
The group is known to customers and suppliers as “Brice Aggregates”, a trading name of Brice Aggregates Limited (group) which includes Pomona Quarries Limited.
The group recorded a turnover of £24,334,988 (2025 - £22,697,300) for the year ended 31 March 2026, an increase of 7.2% with a profit before tax margin of 7.0% (2025 - 29.7%).
The Group supplies aggregates and ready-mix concrete to the construction industry and operates its own quarries, ready-mix plants, landfills and restoration sites across Essex and Cambridgeshire. The Group also owns and operates a substantial fleet of tippers, grab lorries, articulated vehicles and concrete mixers. During the 2025/26 financial year, the Group expanded its operations at Needingworth Quarry in Cambridgeshire through the installation of a new ready-mix plant and the addition of a new fleet of concrete mixers, further diversifying its operations and broadening its customer base. The Directors expect continued business growth during 2026/27 as a result of increased geographical coverage of ready-mix concrete operations across the Cambridgeshire area.
Accounting controls
The Group produces monthly management accounts and KPI data to strict reporting deadlines and forecasts detailed cash flow requirements on a rolling multi-month basis.
The Group has continued to invest in technology to provide key information on business operations whilst introducing new platforms and processes where there is clear benefit and to ensure business continuity. The outsourced IT solution continues to provide a stable and consistent platform, whilst minimising the risk of cyber-attack and systems failure.
Compliance will always remain at the heart of everything the group does, whether it's managing a large fleet of vehicles, operating two quarries, landfill or complying with its statutory and governing body regulations. The group has continually invested in people and systems whilst engaging with external professional bodies and stakeholders to ensure the business maintains the high standards it sets itself, holding ISO9001 and ISO14001 certifications.
The directors review and agree policies for managing these risks as summarised below.
The Group’s reputation and continued success depend upon its ability to deliver high-quality services that are valued by its customers. The Group regularly reviews the quality of its business processes and services through internal audit procedures and ongoing compliance with ISO 9001 standards.
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BRICE AGGREGATES LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Group uses financial instruments including bank loans and hire purchase agreements. The main purpose of these financial instruments is to raise funds for the group’s operations.
The Group operates within a specialised market and seeks to maintain its competitive advantage by offering a broad and relevant range of services, together with a high level of customer service delivered by experienced and dedicated staff.
The Group monitors developments within the market through regular engagement with suppliers and customers, as well as through ongoing assessment of competitors and the wider economic environment. Despite operating in highly competitive sectors, the Group has continued to increase market share across all areas of the business through ongoing brand development and continued investment in vehicles and plant to meet customer demand.
The Group is principally funded through retained profits, secured loan facilities and capital contributions from the owners.
Financial monitoring, forecasting and planning form an integral part of the Group’s operations, with careful management focused on maintaining appropriate profit margins, supporting ongoing investment and continuing to deliver a high-quality service to customers.
In managing credit risk, the directors establish customer credit limits based on independent credit assessments, credit agency reports, third-party references and trading history. Customer payment performance is monitored on an ongoing basis once trading relationships have been established.
Credit limits are reviewed regularly by the finance team alongside debt ageing profiles and collection history.
The Group is a privately owned business that places significant emphasis on attracting, developing and retaining high-quality employees. The directors regularly review staff resourcing and succession planning requirements across the business.
The Group aims to promote internally wherever possible to support continuity of culture and values, whilst also welcoming external talent to bring fresh perspectives and wider industry experience.
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BRICE AGGREGATES LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The key performance indicators monitored by the Board are number of employees, turnover, EBITDA and EBIT.
2026 2025 No.s of Employees 95 74 Turnover £24,334,988 £22,697,300 EBITDA £8,871,610 £8,311,705 EBITDA % Turnover 36.5% 36.6% EBIT £3,454,430 £3,723,997 EBIT % Turnover 14.2% 16.4% The Directors were satisfied with the performance against the targets set and prevailing market conditions.
Statement in respect of Section 172 (1) Companies Act 2006 for the accounting period ending 31 March 2026.
The principal activity of the Group is that of supplying quarry sand and stone, ready-mix concrete together with infill and land restoration. The management defines the success of the business as long-term value creation for all parts of Brice Aggregates Limited and associated companies. Working together to provide efficient solutions that can use all elements of the companies’ resources, contracting, plant hire, aggregates, concrete, landfill, property and land investment and property development. The year under review has been one of continued expansion through the installation of a new ready-mix plant at Needingworth quarry whilst continuing to consolidate through improvements in internal business functions. As always, during the year the Board has considered the areas where investment in vehicles and plant will add value and acted accordingly in the best interest of the stakeholders. The fixed assets note on page 33 sets out the investment in the year. The Board is committed to and actively encourages effective relationships and communications with all the Group’s stakeholders to obtain a greater understanding of each other’s needs and objectives. This way we can optimise the long-term value, creation and success of the Group. The Group has identified the following key stakeholders and explains how the Board considers their interest.
The Group is owned by individual shareholders, who are members of the board of the Company, and they take an active role in managing the business.
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BRICE AGGREGATES LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Group is a family-run business and recognises the important role its employees play in the continued success of the business. The Group takes pride in recruiting and retaining high-quality employees who work together to create strong and committed teams.
The Group aims to be an employer of choice by providing both formal and informal training and development opportunities for employees at all levels. The culture within Brice Aggregates Limited is focused on promoting pride in workmanship, maintaining high-quality standards and ensuring employees feel valued, engaged and safe within the workplace.
Competition remains a constant feature of the markets in which the Group operates. However, the Group has continued to grow market share across all areas of the business through ongoing brand development and sustained investment in vehicles and plant to meet customer demand.
The Group aims to be the first choice for value-minded clients. Its values are centred on being customer-focused, listening and learning from feedback, and maintaining a passionate, confident and solution-driven approach. The Group also emphasises integrity, teamwork and a collaborative working culture.
These values support the Group in consistently meeting customer requirements.
This report was approved by the board and signed on its behalf.
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BRICE AGGREGATES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their report and the financial statements for the year ended 31 March 2026.
The profit for the year, after taxation, amounted to £430,160 (2025 - £4,861,804).
Ordinary dividends of £150,000 (2025: £290,000) were paid during the year.
The Directors who served during the year were:
Risks relating to financial instruments are considered in the Strategic Report.
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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BRICE AGGREGATES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
This report was approved by the board and signed on its behalf.
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BRICE AGGREGATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRICE AGGREGATES LIMITED
We have audited the financial statements of Brice Aggregates Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2026, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 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 Group's or the Parent 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.
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BRICE AGGREGATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRICE AGGREGATES LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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BRICE AGGREGATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRICE AGGREGATES LIMITED (CONTINUED)
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 Group financial statements.
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:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
∙Performing audit procedures in response to the presumed risk of fraud in revenue recognition, including testing the occurrence, completeness and cut off of revenue through a combination of data analytics, substantive testing and corroboration of transactions to supporting documentation and records maintained outside of the accounting system;
∙Reviewing minutes of meetings of those charged with governance; and
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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 Auditor's Report.
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BRICE AGGREGATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRICE AGGREGATES LIMITED (CONTINUED)
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
MHA, Statutory Auditor
Colchester, United Kingdom
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
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BRICE AGGREGATES LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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BRICE AGGREGATES LIMITED
REGISTERED NUMBER: 08443424
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2026
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BRICE AGGREGATES LIMITED
REGISTERED NUMBER: 08443424
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 20 to 43 form part of these financial statements.
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BRICE AGGREGATES LIMITED
REGISTERED NUMBER: 08443424
COMPANY BALANCE SHEET
AS AT 31 MARCH 2026
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BRICE AGGREGATES LIMITED
REGISTERED NUMBER: 08443424
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 20 to 43 form part of these financial statements.
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BRICE AGGREGATES LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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BRICE AGGREGATES LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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BRICE AGGREGATES LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
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BRICE AGGREGATES LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Brice Aggregates Limited, and Pomona Quarries Limited, together "the Group" is a private company limited by shares incorporated in England and Wales. The registered office is Colemans Farm, Little Braxted Lane, Rivenhall End, Witham, Essex, CM8 3EX.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
The Directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. The Directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Company's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Freehold Property
When a decision is taken that a quarry is viable for commercial production (when the Group determines that the quarry will provide sufficient and sustainable return relative to the risks and the Group decide to proceed with the quarry development), all further pre-production primary development expenditure other than on land, buildings, plant, equipment and capital work in progress is capitalised as part of the quarry site under the heading “Freehold Property”. The capitalised quarry site costs are amortised based on the tonnage extracted and sold compared to the total mineral reserves in existence. The stripping and archaeological costs incurred during the production phase of the surface mineral extraction activity is capitalised as part of the overall quarry site costs. The cost provides an improved access to the sand and gravel in future periods. Deferred stripping and archaeological costs are included as part of the overall quarry site costs under the heading Freehold Property and therefore depreciated based on tonnage extracted and sold compared to the total mineral reserves in existence. Property, Plant & Equipment Mineral rights or deposits are included as a Tangible Fixed Asset under Property Plant & Equipment. The values of the mineral deposits were assessed by Savills (UK) Limited on 31 March 2026 based on an assessment as at that date. The capitalised mineral reserves are amortised on the basis of the tonnage extracted and sold compared to the total mineral reserves in existence.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using methods stated below.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition plus in addition the Directors have included the cost of stripping the soil to extract the raw material in arriving at the all in cost of production. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.
Page 23
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Page 24
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. Under the terms of the planning consent obtained, the company is obliged to restore the site to a set standard. The accounts recognise a provision for future costs to be incurred based on gravel extracted in total at the balance sheet date. Brice Aggregates is gradually handing the restored wetland at Needingworth Quarry over to the RSPB which will manage it as a haven for wetland wildlife to shelter, breed and feed in.
Page 25
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Page 26
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Valuation of stock The company holds stock consisting of raw materials such as processed aggregate and cement, which is internally produced. The value of stock is therefore an estimate of the average labour costs and material costs to extract each tonne from the ground. The cost per tonnage is calculated on a monthly basis and there are adjustments made by management to the stock value, based on their industry expertise and experience, to ensure that stock is fairly stated. Restoration provision The sites at which the company operates are subject to restoration, meaning the quarry will need to be restored into its original condition by the end of the project. Therefore the financial statements recognise a provision for future costs to be incurred based on gravel extracted at the balance sheet date, based on the current market value of the inputs required in this process. Valuation of mineral rights The company holds rights to minerals not yet extracted, which are valued on the balance sheet. This involves estimation uncertainty in assessing both the quantity of minerals and their attributed value. A management expert is engaged to support this valuation. Depreciation & amortisation Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing assets lives, factors such as technological innovation and maintenance programmes are taken into account. Residual value assessments include issues such as future market conditions, the remaining life of the asset and projected disposal values. Accruals The accounts are prepared on an accruals basis. Liabilities for certain items such as loan interest and other expenses have been estimated based on various assumptions, such as market interest rates and the director's knowledge and financial experience. Any changes to these assumptions would have an impact on the liability accrued at the balance sheet date.
Page 27
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Analysis of turnover by country of destination:
Page 28
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 29
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 30
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The group has losses of approximately £190,000 available for carry forward against future trading profits.
Page 31
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 32
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
On 31 March 2026 the mineral rights owned by the Group, and the Freehold Property owned by the Group and Company were valued by Savills (UK) Limited, who are an independent RICS qualified valuer.
Page 33
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
15.Tangible fixed assets (continued)
Page 34
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
15.Tangible fixed assets (continued)
The reduction in the gross carrying amount reflects the depletion of permitted mineral reserves through normal extraction activities, rather than a decline in the underlying value of the mineral rights. Overall, the revaluation resulted in a net gain of £2,194.
Page 35
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 36
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 37
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Bank loans shown in the financial statements are secured against land owned by the Group.
Hire purchase liabilities are secured on the assets to which they relate.
Page 38
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 39
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 40
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 41
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Revaluation reserve
Profit and loss account
The prior year adjustment reflects a correction of the calculation of negative goodwill and related adjustments to freehold property within fixed assets and financing costs. When compared to the previously published financial statements for the period ended 31 March 2025, negative goodwill has increased by £1,681,316, fixed assets have increased by £1,414,970 and the bank loan has decreased by £240,922 with an increase in the profit and loss account carried forward of £1,471,932.
Page 42
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BRICE AGGREGATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £68,248 (2025 - £60,573). Contributions totalling £14,759 (2025 - £10,002) were payable to the fund at the balance sheet date and are included in creditors.
The directors consider that the group does not have an ultimate controlling party in either year.
Page 43
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