NRS Aggregates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08516859 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

NRS AGGREGATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M C Ketcher

SECRETARY:

Ms L J Shirley

REGISTERED OFFICE:

Unit 1, White Gate Farm

Mythe Lane

Witherley

Atherstone

Warwickshire

CV9 3NU

REGISTERED NUMBER:

08516859 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2

Charnwood Edge Business Park

Syston Road

Leicester

LE7 4UZ

CURRENT ASSETS

Stocks

69,139

170,396

Debtors

5

3,274,992

2,965,059

Cash at bank

337,804

468,368

3,681,935

3,603,823

CREDITORS

Amounts falling due within one year

6

(1,893,884

)

(2,031,137

)

NET CURRENT ASSETS

1,788,051

1,572,686

TOTAL ASSETS LESS CURRENT LIABILITIES

1,788,051

1,572,686

CAPITAL AND RESERVES

Called up share capital

7

500

500

Retained earnings

1,787,551

1,572,186

SHAREHOLDERS' FUNDS

1,788,051

1,572,686

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 11 December 2018 and were signed by:

Mr M C Ketcher - Director

1.	STATUTORY INFORMATION

NRS Aggregates Ltd is a limited company, registered in England and Wales. Its registered office address is Unit

1 White Gate Farm, Mythe Lane, Witherley, Atherstone, Warrwickshire, CV9 3NU and the registered number is

08516859.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard

applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of

FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their

useful lives on the following bases:

Working quarry

10% on cost

Plant and machinery

20% on cost

Fixtures, fittings & equipment

25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds

and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible assets to determine whether

there is any indication that those assets have suffered an impairment loss. If any such indication exists, the

recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the

recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less cost to sell and value in use. In assessing value in use, the

estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects

current market value assessments of the time value of money and the risks specific to the asset for which

estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount,

the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment

loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in

which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to

apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating

unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount

does not exceed the carrying amount that would have been determined had no impairment loss been recognised

for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately

in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the

impairment loss is treated as a revaluation increase.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises

direct materials and, where applicable, direct labour costs and those overheads that have been incurred in

bringing the stocks to their present location and condition.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered

against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have

been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate

of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are

required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are

received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed

to terminate the employment of an employee or to provide termination benefits.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risk and

rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of

inception and the present value of the minimum lease payments. The related liability is included in the balance

sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements.

The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the

remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a

straight line basis over the term of the relevant lease except where another more systematic basis is more

representative of the time pattern in which economic benefits from the lease asset are consumed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Working

Plant and

fittings &

quarry

machinery

equipment

Totals

£

£

£

£

COST

Transferred in on demerger

1,776,826

1,808,122

27,365

3,612,313

Transferred out on demerger

(1,776,826

)

(1,808,122

)

(27,365

)

(3,612,313

)

At 31 March 2018

-

-

-

-

DEPRECIATION

Transferred in on demerger

712,876

331,022

22,187

1,066,085

Transferred out on demerger

(712,876

)

(331,022

)

(22,187

)

(1,066,085

)

At 31 March 2018

-

-

-

-

NET BOOK VALUE

At 31 March 2018

-

-

-

-

The above fixed assets were transferred to NRS Aggregates Ltd as part of the demerger from NRS Waste Care

Limited on 1 April 2017. On the same day the same fixed assets were transferred to NRS Saredon Holdings Ltd,

who became the parent company of NRS Aggregates Ltd on 1 April 2017.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,394,978

1,391,247

Other debtors

550,543

85,055

Amounts due from parent and

fellow subsidiary undertakings

1,213,123

1,473,757

Prepayments and accrued income

116,348

15,000

3,274,992

2,965,059

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

409,145

229,072

Corporation tax

55,119

213,099

Social security and other taxes

227,024

268,390

Other creditors

982,939

5,535

Amounts due to parent and

fellow subsidiary undertakings

-

917,081

Directors' current accounts

29,869

-

Accruals and deferred income

189,788

397,960

1,893,884

2,031,137

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

500

Ordinary

1

500

500

8.	PARENT COMPANY

At the year end date the ultimate parent company was NRS Saredon Holdings Ltd, a company registered in

England and Wales. The registered office of NRS Saredon Holdings Ltd is Unit 1, White Gate Farm, Mythe

Lane, Witherley, Atherstone, Warwickshire, CV9 3NU.

The ultimate controlling party is M C Ketcher by virtue of his 100% shareholding in the voting shares of the

ultimate parent company.