Misson Sand and Gravel Company Limited - Accounts to registrar (filleted) - small 18.2
Misson Sand and Gravel Company Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Misson Sand and Gravel Company Limited |
| Unaudited Financial Statements For The Year Ended 31 March 2020 |
| Misson Sand and Gravel Company Limited (Registered number: 04199489) |
| Contents of the Financial Statements |
| For The Year Ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Misson Sand and Gravel Company Limited |
| Company Information |
| For The Year Ended 31 March 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Sidings Court |
| Lakeside |
| Doncaster |
| South Yorkshire |
| DN4 5NU |
| Misson Sand and Gravel Company Limited (Registered number: 04199489) |
| Abridged Balance Sheet |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Misson Sand and Gravel Company Limited (Registered number: 04199489) |
| Abridged Balance Sheet - continued |
| 31 March 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on were signed on its behalf by: |
| Misson Sand and Gravel Company Limited (Registered number: 04199489) |
| Notes to the Financial Statements |
| For The Year Ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Misson Sand and Gravel Company Limited is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life: |
| Leasehold land | - over the life of the lease |
| Mineral assets | - 10% to 20% on straight line |
| Quarry entrance | - 20% on straight line |
| Plant and machinery | - 10% reducing balance |
| Fixtures and fittings | - 20% on straight line |
| Motor vehicles | - 20% on straight line |
| Computer equipment | - 25% on straight line |
| Mineral assets are not depreciated until extraction commences. |
| Stocks |
| Stock represents processing costs incurred before the end of the financial year on materials not sold until after |
| the end of the financial year. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
| that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
| of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and |
| depreciated over their estimated useful lives. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Misson Sand and Gravel Company Limited (Registered number: 04199489) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Government grants |
| Government grants are released to the profit and loss account evenly over the life of the asset to which they |
| relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 2020 | 2019 |
| £ | £ |
| Repayable by instalments |
| Bank loans - more than 5 years | 121,575 | 131,610 |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| Hire purchase contracts | 260,890 | 304,314 |
| Bank loans and overdrafts are secured on the company's freehold land and mineral assets. |
| Hire purchase liabilities are secured on the assets concerned |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Misson Sand and Gravel Company Limited (Registered number: 04199489) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2020 |
| 8. | RELATED PARTY DISCLOSURES |
| The directors have given a joint and several guarantee with some personal security to secure the bank |
| borrowings of the company. |
| Creditors include £79,396 (2019: £91,572) due to directors. The loans are interest free and repayable on |
| demand. |
| Trade creditors include £2,529 (2019: £18,510) due to the business of one of the directors. |