Callycombe Aggregates Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11207771 (England and Wales)

Financial Statements

For The Year Ended 30 September 2023

for

Callycombe Aggregates Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,757,632

3,475,543

2,757,632

3,475,543

CURRENT ASSETS

Stocks

68,519

40,493

Debtors

6

177,200

149,010

Cash at bank and in hand

18,927

94,328

264,646

283,831

CREDITORS

Amounts falling due within one year

7

2,166,861

2,132,707

NET CURRENT LIABILITIES

(1,902,215

)

(1,848,876

)

TOTAL ASSETS LESS CURRENT LIABILITIES

855,417

1,626,667

CREDITORS

Amounts falling due after more than one year

8

(1,039,837

)

(1,245,452

)

PROVISIONS FOR LIABILITIES

(98,392

)

(103,422

)

NET (LIABILITIES)/ASSETS

(282,812

)

277,793

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(282,912

)

277,693

(282,812

)

277,793

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 3 April 2024 and were signed on its behalf by:

Mrs C M Hodge - Director

1.	STATUTORY INFORMATION

Callycombe Aggregates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11207771

Registered office:

c/o Burcombe Haulage Limited

St Dominick

Saltash

Cornwall

PL12 6SH

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements show the company to be in a net liabilities position. The directors believe that it is appropriate to prepare the accounts on a going concern basis given forecast improved performance and the continued financial support of the group.

The directors therefore believe that there is not a material uncertainty over the company's ability to continue as a going concern.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 28 years straight line

Improvements to property - 5% reducing balance

Plant & machinery etc- 20% reducing balance

Motor vehicles - 25% reducing balance

Computer equipment - 33% straight line

Stocks

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

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. 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 profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2022

and 30 September 2023

1

AMORTISATION

At 1 October 2022

and 30 September 2023

1

NET BOOK VALUE

At 30 September 2023

-

At 30 September 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2022

3,414,171

970,884

4,385,055

Additions

-

79,407

79,407

Disposals

-

(110,995

)

(110,995

)

Impairments

(538,206

)

-

(538,206

)

At 30 September 2023

2,875,965

939,296

3,815,261

DEPRECIATION

At 1 October 2022

546,815

362,697

909,512

Charge for year

96,115

104,237

200,352

Eliminated on disposal

-

(52,235

)

(52,235

)

At 30 September 2023

642,930

414,699

1,057,629

NET BOOK VALUE

At 30 September 2023

2,233,035

524,597

2,757,632

At 30 September 2022

2,867,356

608,187

3,475,543

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2022

and 30 September 2023

225,000

DEPRECIATION

At 1 October 2022

22,500

Charge for year

40,500

At 30 September 2023

63,000

NET BOOK VALUE

At 30 September 2023

162,000

At 30 September 2022

202,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade debtors

133,082

88,953

Other debtors

44,118

60,057

177,200

149,010

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Bank loans and overdrafts

206,877

213,958

Hire purchase contracts (see note 9)

28,000

28,000

Trade creditors

69,473

75,543

Amounts owed to group undertakings

1,789,472

1,774,107

Taxation and social security

63,164

31,957

Other creditors

9,875

9,142

2,166,861

2,132,707

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.23

30.9.22

£

£

Bank loans

967,504

1,145,119

Hire purchase contracts (see note 9)

72,333

100,333

1,039,837

1,245,452

Amounts falling due in more than five years:

Repayable by instalments

Fixed loan

139,995

113,120

Variable loan

-

130,871

139,995

243,991

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.9.23

30.9.22

£

£

Net obligations repayable:

Within one year

28,000

28,000

Between one and five years

72,333

100,333

100,333

128,333

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.23

30.9.22

£

£

Bank loans

1,174,381

1,359,077

The bank loans are secured against assets of the group and the company by way of a fixed charge.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Groves (Senior Statutory Auditor)

for and on behalf of Bromhead

12.	GOING CONCERN

The company has net liabilities but the directors have agreed that the group will support the company. The going concern basis is still considered appropriate.