Staffordshire Sand & Gravel Company Limited - Period Ending 2021-12-31

Staffordshire Sand & Gravel Company Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Staffordshire Sand & Gravel Company Limited

Company Information

Director

R M Parton

Registered office

The Oaklands Station Road Admaston Telford Shropshire TF5 0AN

Accountants

CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Staffordshire Sand & Gravel Company Limited

(Registration number: 05691842)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	624,081	1,097,152
Current assets
Stocks	5	40,000	-
Debtors	6	198,467	506,429
Cash at bank and in hand		27,940	37,167
		266,407	543,596
Creditors: Amounts falling due within one year	7	(2,425,978)	(2,559,156)
Net current liabilities		(2,159,571)	(2,015,560)
Net liabilities		(1,535,490)	(918,408)
Capital and reserves
Called up share capital	8	1	1
Retained earnings		(1,535,491)	(918,409)
Shareholders' deficit		(1,535,490)	(918,408)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Staffordshire Sand & Gravel Company Limited

(Registration number: 05691842)
Balance Sheet as at 31 December 2021

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 director on 29 September 2022
 

R M Parton Director

Staffordshire Sand & Gravel Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

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

The address of its registered office is:
The Oaklands
Station Road
Admaston
Telford
Shropshire
TF5 0AN

The principal place of business is:
Calf Heath Quarry
Watling Street
Cannock
Staffordshire
United Kingdom

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

In the opinion of the director, the company is not a going concern at the year end date as the future of the company remains uncertain and there remains significant doubt upon the company’s ability to realise its assets and discharge its liabilities in the normal course of business. The accounts have been prepared on a basis other than as a going concern, with assets written down to their recoverable amount and liabilities recognised at the amount payable.

Staffordshire Sand & Gravel Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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
Quarry development costs	30 pence per tonne sold
Plant and machinery	10% - 20% straight line
Motor vehicles	20% reducing balance
Fixtures and fittings	20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2020 - 2).

Staffordshire Sand & Gravel Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Included within the net book value of land and buildings above is £397,893 (2020 - £545,563) in respect of short leasehold land and buildings.
 

5

Stocks

	2021 £	2020 £
Other inventories	40,000	-

6

Debtors

	Note	2021 £	2020 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	9	-	288,365
Prepayments		44,521	15,649
Other debtors		153,946	202,415
		198,467	506,429

Staffordshire Sand & Gravel Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	173,483	114,706
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,125,258	2,393,335
Taxation and social security	-	25,705
Accruals and deferred income	34,099	25,410
Other creditors	1,093,138	-
	2,425,978	2,559,156

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

9	Related party transactions

Summary of transactions with other related parties

R M Parton is a director of both Salop Sand and Gravel Supply Company Limited and The Mortar and Screed Company Limited.
 The amount due from / (to) these related parties at the year end totalled (£943,138) (2020 - £202,415).
 

10	Parent and ultimate parent undertaking

The company's immediate parent is S S G Investments Holdings Limited, incorporated in England and Wales.

 The ultimate parent is S S G Quarries Limited, incorporated in England and Wales.