WCL Cranebrook Quarry Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 05851648 (England and Wales)

WCL CRANEBROOK QUARRY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 DECEMBER 2015 TO 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

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

5

23,136

159,217

Tangible assets

6

47,596

275,616

Investment property

7

-

3,952,032

70,732

4,386,865

CURRENT ASSETS

Stocks

44,818

39,588

Debtors

8

220,146

284,448

Cash at bank and in hand

36,985

54,499

301,949

378,535

CREDITORS

Amounts falling due within one year

9

233,890

955,865

NET CURRENT ASSETS/(LIABILITIES)

68,059

(577,330

)

TOTAL ASSETS LESS CURRENT LIABILITIES

138,791

3,809,535

CREDITORS

Amounts falling due after more than one year

10

-

(1,565,280

)

PROVISIONS FOR LIABILITIES

(9,519

)

(329,232

)

NET ASSETS

129,272

1,915,023

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

129,271

1,915,022

SHAREHOLDERS' FUNDS

129,272

1,915,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 March 2017 and were signed by:

M Deadman - Director

1.	STATUTORY INFORMATION

WCL Cranebrook Quarry Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 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.

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

fair value is recognised in profit or loss.

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

statement of financial position 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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 31 December 2015

135,200

154,679

289,879

Additions

-

2,900

2,900

Disposals

-

(130,000

)

(130,000

)

At 31 December 2016

135,200

27,579

162,779

AMORTISATION

At 31 December 2015

128,440

2,222

130,662

Charge for period

6,760

2,221

8,981

At 31 December 2016

135,200

4,443

139,643

NET BOOK VALUE

At 31 December 2016

-

23,136

23,136

At 30 December 2015

6,760

152,457

159,217

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 December 2015

315,489

Additions

13,242

Disposals

(281,135

)

At 31 December 2016

47,596

DEPRECIATION

At 31 December 2015

39,873

Charge for period

5,302

Eliminated on disposal

(45,175

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

47,596

At 30 December 2015

275,616

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 December 2015

3,952,032

Disposals

(3,952,032

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

-

At 30 December 2015

3,952,032

Cost or valuation at 31 December 2016 is represented by:

£

Valuation in 2015

1,537,160

Valuation in 2016

(1,537,160

)

If investment property had not been revalued it would have been included at the following historical cost:

2016

2015

£

£

Cost

2,407,840

2,407,840

Investment property was valued on open market basis on 31 December 2015 by the directors .

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

180,997

182,659

Amounts owed by group undertakings

34,037

92,739

Other debtors

5,112

9,050

220,146

284,448

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

62,000

Trade creditors

53,072

99,076

Amounts owed to group undertakings

-

600,451

Taxation and social security

150,794

174,730

Other creditors

30,024

19,608

233,890

955,865

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans

-

1,565,280

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,337,280

11.	RELATED PARTY DISCLOSURES

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

totalling £151,525 (2015 - £503,336) and received goods and services from WCL Ketley Quarry Limited of

£442 (2015 - £Nil).

During the year WCL Cranebrook Quarry Limited supplied goods to WCL Griff Quarry Limited totalling

£115,484 (2015 - £286,439).

During the year WCL Cranebrook Quarry Limited supplied goods to WCL Haulage Limited totalling £1,382

(2015 - £159,239).

During the year WCL Cranebrook Quarry Limited purchased goods from WCL Haulage totalling £254,407

(0215: £300,873).

During the year WCL Cranebrook Quarry Limited disposed of fixed assets to WCL Quarries Limited, at a net

book value of £226,000.

During the year WCL Cranebrook Quarry Limited supplied goods to WCL Quarries Limited totalling £nil

(2015: £28,559).

During the year investment properties were transferred to Charlton Haynes Limited totalling £2,633,022.

During the year WCL Cranebrook Quarry Limited purchased goods and services from Charlton Haynes Limited

totalling £79,949 (2015: £32,431).

12.	FIRST YEAR ADOPTION

Transitional relief

On transition to FRS 102, the company has taken advantage of the following transitional relief:

•

to measure fair value at date of transition to FRS 102 and use as deemed cost on:

-

an item of property, plant and equipment;

-

an investment property;

-

an intangible asset which meets the recognition criteria and criteria for revaluation in Section 18 Intangible Assets other than Goodwill;

•

to measure investment in subsidiaries, associates and joint ventures at cost determined in accordance with deemed cost;

•

to measure assets and liabilities of subsidiaries, associates and joint ventures at carrying amounts required by FRS 102 other than those that would be included in the parent's consolidated financial statements;