WCL Cranebrook Quarry Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05851648 (England and Wales)

WCL CRANEBROOK QUARRY LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 DECEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

9

DIRECTOR:

M Deadman

SECRETARY:

Mrs K A Winner

REGISTERED OFFICE:

Quarries House

2 Cobbett Road

Burntwood

Staffordshire

WS7 3GL

REGISTERED NUMBER:

05851648 (England and Wales)

FIXED ASSETS

Intangible assets

2

152,742

166,262

Tangible assets

3

1,886,749

2,289,447

Investments

4

-

200

Investment property

5

4,007,032

-

6,046,523

2,455,909

CURRENT ASSETS

Stocks

2,433

5,692

Debts

Funded bank account

27,088

(297,221

)

27,088

(297,221

)

Debtors

999,923

982,162

Cash at bank and in hand

31,334

75,049

1,060,778

765,682

CREDITORS

Amounts falling due within one year

562,919

800,187

NET CURRENT ASSETS/(LIABILITIES)

497,859

(34,505

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,544,382

2,421,404

CREDITORS

Amounts falling due after more than one year

6

(2,048,653

)

(69,982

)

PROVISIONS FOR LIABILITIES

(172,436

)

(251,436

)

NET ASSETS

4,323,293

2,099,986

CAPITAL AND RESERVES

Called up share capital

7

1

1

Revaluation reserve

1,740,884

166,531

Profit and loss account

2,582,408

1,933,454

SHAREHOLDERS' FUNDS

4,323,293

2,099,986

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 March 2015 and were signed by:

M Deadman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 31 December 2013

and 30 December 2014

267,662

AMORTISATION

At 31 December 2013

101,400

Amortisation for year

13,520

At 30 December 2014

114,920

NET BOOK VALUE

At 30 December 2014

152,742

At 30 December 2013

166,262

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 31 December 2013

2,958,144

Additions

484,065

Disposals

(151,125

)

Reclassification/transfer

(415,875

)

At 30 December 2014

2,875,209

DEPRECIATION

At 31 December 2013

668,697

Charge for year

351,937

Eliminated on disposal

(32,174

)

At 30 December 2014

988,460

NET BOOK VALUE

At 30 December 2014

1,886,749

At 30 December 2013

2,289,447

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 31 December 2013

200

Disposals

(200

)

At 30 December 2014

-

NET BOOK VALUE

At 30 December 2014

-

At 30 December 2013

200

The company's investments at the balance sheet date in the share capital of companies include the following:

WCL Ketley Quarry Limited

Nature of business: Waste and recycling

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

£

Aggregate capital and reserves

(410,405

)

(338,517

)

(Loss)/profit for the year

(71,888

)

115,300

WCL Griff Quarry Limited

Nature of business: Waste and recycling

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

£

Aggregate capital and reserves

491,566

61,545

Profit for the year

430,021

131,932

WCL Haulage Limited

Nature of business: Haulage contractor

%

Class of shares:

holding

Ordinary

100.00

2014

£

Aggregate capital and reserves

(119,917

)

Loss for the year

(120,017

)

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

Additions

1,991,965

Revaluations

1,599,192

Reclassification/transfer

415,875

At 30 December 2014

4,007,032

NET BOOK VALUE

At 30 December 2014

4,007,032

6.

CREDITORS

Creditors include the following debts falling due in more than five years:

2014

2013

as restated

£

£

Repayable by instalments

1,463,923

-

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

as restated

£

£

100

Share capital 2

1p

1

1

8.	ULTIMATE PARENT COMPANY

TwentyFive 8 Management Limited is regarded by the director as being the company's ultimate parent company.

9.	RELATED PARTY DISCLOSURES

WCL Ketley Quarry Limited

During the year WCL Cranebrook Quarry Limited sold goods and services to WCL Ketley Quarry Limited

totalling £751,741 (2013: £862,409) and purchased goods and services from WCL Ketley Quarry Limited

totalling £13,882 (2013: £9,592).

During the year WCL Cranebrook Quarry Limited recharged rents £12,000 (2013: £12,000) to WCL Ketley

Quarry Limited.

Management charges were charged from WCL Cranebrook Quarry Limited to WCL Ketley Quarry Limited

totalling £50,000 (2013: £Nil).

2014

2013

as restated

£

£

Amount due from related party at the balance sheet date

409,629

230,945

WCL Griff Quarry Limited

During the year WCL Cranebrook Quarry Limited sold goods to WCL Griff Quarry Limited totalling £566,874

(2013: £244,251).

During the year WCL Cranebrook Quarry Limited re-charged rents £12,000 (2013: £12,000) to WCL Griff

Quarries Limited.

Management charges were charged from WCL Cranebrook Quarry Limited to WCL Griff Quarry Limited

totalling £100,000 (2013: £Nil).

2014

2013

as restated

£

£

Amount due from related party at the balance sheet date

153,822

235,549

WCL Haulage Limited

During the year WCL Cranebrook Quarry Limited sold goods and services to WCL Haulage Limited totalling

£552,471 (2013: £37,900) and purchased goods and services from WCL Haulage Limited of £284,741 (2013:

£Nil).

Management charges were charged from WCL Cranebrook Quarry Limited to WCL Haulage Limited totalling

£15,000 (2013: £Nil).

2014

2013

as restated

£

£

Amount due from related party at the balance sheet date

112,785

45,588

S J Winner & K A Winner

During the year the former director and secretary have charged rent and insurance totalling £54,726 (2013:

£52,443).

During the year WCL Quarries Limited has purchased assets from Mr S J Winner amounting to £Nil (2013:

£45,500).

2014

2013

as restated

£

£

Amount due to related party at the balance sheet date

13,117

637

WCL Quarries Limited

During the year WCL Cranebrook Quarry Limited sold 100% of it's share holding in WCL Ketley Quarry

Limited and WCL Griff Quarry limited to WCL Quarries Limited.

2014

2013

as restated

£

£

Amount due from related party at the balance sheet date

200

-