Border Aggregates and Landscaping Supplies Limited - Period Ending 2022-12-31

Border Aggregates and Landscaping Supplies Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 8

Border Aggregates and Landscaping Supplies Limited

Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	1,542,877	1,447,908
Current assets
Stocks	5	82,409	78,337
Debtors	6	405,229	347,872
Cash at bank and in hand		225,753	404,071
		713,391	830,280
Creditors: Amounts falling due within one year	7	(848,759)	(867,941)
Net current liabilities		(135,368)	(37,661)
Total assets less current liabilities		1,407,509	1,410,247
Creditors: Amounts falling due after more than one year	7	(246,887)	(338,954)
Provisions for liabilities		(250,739)	(218,500)
Net assets		909,883	852,793
Capital and reserves
Called up share capital		3	3
Retained earnings		909,880	852,790
Shareholders' funds		909,883	852,793

Border Aggregates and Landscaping Supplies Limited

Balance Sheet as at 31 December 2022 (continued)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 04684539

Approved and authorised by the Board on 29 July 2023 and signed on its behalf by:
 

......................................... Mr P W Bradford Director

Border Aggregates and Landscaping Supplies Limited

Notes to the financial statements for the Year Ended 31 December 2022

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:
Dalmar House
Barras Lane Estate
Dalston
Carlisle
CA5 7NY

These financial statements were authorised for issue by the Board on 29 July 2023.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Border Aggregates and Landscaping Supplies Limited

Notes to the financial statements for the Year Ended 31 December 2022 (continued)

2	ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Border Aggregates and Landscaping Supplies Limited

Notes to the financial statements for the Year Ended 31 December 2022 (continued)

2	ACCOUNTING POLICIES (continued)

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
Plant and machinery	20% reducing balance
Motor vehicles	10% reducing balance
Office equipment	25% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Border Aggregates and Landscaping Supplies Limited

Notes to the financial statements for the Year Ended 31 December 2022 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 30 (2021 - 30).

4	TANGIBLE ASSETS

	Office equipment £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2022	4,858	1,154,302	678,207	1,837,367
Additions	325	211,000	87,980	299,305
At 31 December 2022	5,183	1,365,302	766,187	2,136,672
Depreciation
At 1 January 2022	3,355	155,285	230,819	389,459
Charge for the year	1,289	104,204	98,843	204,336
At 31 December 2022	4,644	259,489	329,662	593,795
Carrying amount
At 31 December 2022	539	1,105,813	436,525	1,542,877
At 31 December 2021	1,503	999,017	447,388	1,447,908

Border Aggregates and Landscaping Supplies Limited

Notes to the financial statements for the Year Ended 31 December 2022 (continued)

5

STOCKS

	2022 £	2021 £
Stocks	82,409	78,337

6

DEBTORS

Current	2022 £	2021 £
Trade debtors	341,312	337,481
Prepayments	63,917	10,391
	405,229	347,872

7

CREDITORS

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Loans and borrowings	8	213,163	325,446
Trade creditors		266,907	167,434
Taxation and social security		22,557	76,221
Accruals and deferred income		21,050	25,360
Other creditors		325,082	273,480
		848,759	867,941

Creditors include net obligations under hire purchase contracts which are secured of £213,163 (2021 - £325,446).

Creditors: amounts falling due after more than one year

	Note	2022 £	2021 £
Due after one year
Loans and borrowings	8	246,887	338,954

Creditors include net obligations under hire purchase contracts which are secured of £246,887 (2021 - £338,954).

Border Aggregates and Landscaping Supplies Limited

Notes to the financial statements for the Year Ended 31 December 2022 (continued)

8	LOANS AND BORROWINGS

	2022 £	2021 £
Non-current loans and borrowings
Hire purchase agreements	246,887	338,954

	2022 £	2021 £
Current loans and borrowings
Hire purchase agreements	213,163	325,446