Birch Vale Quarry Limited - Period Ending 2019-03-31

Registration number: 00963545

Birch Vale Quarry Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2019

Hallidays
Chartered Accountants
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD

Birch Vale Quarry Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 5

Birch Vale Quarry Limited

Company Information

Directors

Mrs D Allinson Mr C A Allinson

Company secretary

Mrs D Allinson

Registered office

Riverside House Kings Reach Business Park Yew Street Stockport Cheshire SK4 2HD

Accountants

Hallidays Chartered Accountants Riverside House Kings Reach Business Park Yew Street Stockport Cheshire SK4 2HD

Page 1

Birch Vale Quarry Limited

(Registration number: 00963545)
Balance Sheet as at 31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	3	103,761	103,777
Current assets
Cash at bank and in hand		43	-
Creditors: Amounts falling due within one year	4	(52,797)	(53,763)
Net current liabilities		(52,754)	(53,763)
Net assets		51,007	50,014
Capital and reserves
Called up share capital		100	100
Share premium reserve		6,900	6,900
Revaluation reserve		60,000	60,000
Profit and loss account		(15,993)	(16,986)
Total equity		51,007	50,014

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 December 2019 and signed on its behalf by:
 

.........................................

Mr C A Allinson
Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Birch Vale Quarry Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

1	General information

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

The address of its registered office is:
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD

These financial statements were authorised for issue by the Board on 20 December 2019.

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 - 'The Financial Reporting Standard applicable in the UK 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Office equipment	15% reducing balance

The freehold land and buildings has not been depreciated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 3

Birch Vale Quarry Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

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.

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.

3	Tangible assets

	Freehold land and buildings £	Office equipment  £	Total £
Cost or valuation
At 1 April 2018	103,668	8,897	112,565
At 31 March 2019	103,668	8,897	112,565
Depreciation
At 1 April 2018	-	8,788	8,788
Charge for the year	-	16	16
At 31 March 2019	-	8,804	8,804
Carrying amount
At 31 March 2019	103,668	93	103,761
At 31 March 2018	103,668	109	103,777

Included within the net book value of land and buildings above is £103,668 (2018 - £103,668) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's land and buildings was revalued on 30 September 1977. An independent valuer was not involved.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £40,668 (2018 - £42,168).

Page 4

Birch Vale Quarry Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

4

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Bank loans and overdrafts	-	3
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6,141	5,288
Other creditors	46,656	48,472
	52,797	53,763

5	Loans and borrowings

	2019 £	2018 £
Current loans and borrowings
Bank overdrafts	-	3

Page 5