Registration number:
Rockstone Surfacing Limited
for the Year Ended 31 August 2016
Philip Nickson & Co Ltd
Chartered Accountants and Registered Auditors
Paradise Farm
High Street
Kempsford
Fairford
Gloucestershire
GL7 4EU
Rockstone Surfacing Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Statement of Cash Flows |
|
Notes to the Financial Statements |
Rockstone Surfacing Limited
Company Information
Directors |
S M Dziubinski L J Dziubinski |
Company secretary |
L J Dziubinski |
Registered office |
|
Auditors |
|
Page 1 |
Rockstone Surfacing Limited
Strategic Report for the Year Ended 31 August 2016
The directors present their strategic report for the year ended 31 August 2016.
Principal activity
The principal activity of the company is the provison of and repair of road surfacing
Fair review of the business
The Company recorded a nominal increase in turnover (+0.99% to £10,786,613), and a decline in pre-tax profit (-23% to £910,434). Whilst gross margin only reduced slightly (-0.10% to 18.65%), the decreased level of profit stems largely from the increased level of administrative expenses (+£295k).
Whilst turnover has remained comparable with the previous year, the scope and complexity has increased, particularly with the volume of management required to fulfil the work volume. In May 2016 The Company formed an in-house Technical Department, to offer supporting expertise to our various stakeholders whether it be at pre-contract stage, or in reactive fashion to an ever-changing operational landscape. June 2016, The Company created an in-house traffic management division featuring a full-time managerial role. Both of which have contributed to the large increase in overheads mentioned.
In 2016, all works procured directly for Local Authorities were secured as Principal Contractor involving various ancillary works otherwise usually outside of our core capabilities as a business, including; traffic management and ground work. The Company has invested heavily in training and development of these sectors in a bid to build on our commitment to continually bring more elements of services offered in-house.
The Company will continue to strive to retain core clients, by maintaining high standards of workmanship whilst offering an increased level of Service. New Enterprise Planning Systems due to roll out in 2017 will complement the new Technical Department by offering enhanced levels of quality management, by eventually being able to offer real-time traceability of installed materials
Principal risks and uncertainties
Whilst well documented, the full impact of the EU referendum remains to be felt within the construction industry and the Company will continue to focus on business-critical elements that may be affected in the future:
Available labour: The company will continue to invest in the training and development of home-grown talent for manual and skilled rolls within the workforce.
Legislative Change: Added personnel within technical and managerial positions will facilitate swift transition as the country migrates from previous EU-driven legislation.
Approved by the Board on
.........................................
S M Dziubinski
Director
Page 2 |
Rockstone Surfacing Limited
Directors' Report for the Year Ended 31 August 2016
The directors present their report and the financial statements for the year ended 31 August 2016.
Directors of the company
The directors who held office during the year were as follows:
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the Board on
.........................................
S M Dziubinski
Director
Page 3 |
Rockstone Surfacing Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4 |
Rockstone Surfacing Limited
Independent Auditor's Report to the Members of Rockstone Surfacing Limited
We have audited the financial statements of Rockstone Surfacing Limited for the year ended 31 August 2016, set out on pages 7 to 22. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland."
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditor
As explained more fully in the Statement of Directors' Responsibilities (set out on page 4), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors to the financial statements.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on the financial statements
In our opinion the financial statements:
• |
give a true and fair view of the state of the company's affairs as at 31 August 2016 and of its profit for the year then ended; |
• |
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• |
have been prepared in accordance with the requirements of the Companies Act 2006. |
Page 5 |
Rockstone Surfacing Limited
Independent Auditor's Report to the Members of Rockstone Surfacing Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• |
the financial statements are not in agreement with the accounting records and returns; or |
• |
certain disclosures of directors’ remuneration specified by law are not made; or |
• |
we have not received all the information and explanations we require for our audit. |
......................................
For and on behalf of
Paradise Farm
High Street
Kempsford
Gloucestershire
GL7 4EU
Page 6 |
Rockstone Surfacing Limited
Profit and Loss Account for the Year Ended 31 August 2016
Note |
Total |
Total |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
- |
|
Operating profit |
|
|
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
(770) |
(10,829) |
||
Profit before tax |
|
|
|
Taxation |
( |
( |
|
Profit for the financial year and total comprehensive income for the year |
|
|
Page 7 |
Rockstone Surfacing Limited
(Registration number: 01933766)
Balance Sheet as at 31 August 2016
Note |
2016 |
2015 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
Investment property |
|
- |
|
|
|
||
Current assets |
|||
Stocks |
- |
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
Approved and authorised by the
.........................................
S M Dziubinski
Director
Page 8 |
Rockstone Surfacing Limited
Statement of Changes in Equity for the Year Ended 31 August 2016
Share capital |
Profit and loss account |
Total |
|
At 1 September 2015 |
|
|
|
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
At 31 August 2016 |
|
|
|
Share capital |
Profit and loss account |
Total |
|
At 1 September 2014 |
|
|
|
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
At 31 August 2015 |
|
|
|
Page 9 |
Rockstone Surfacing Limited
Statement of Cash Flows for the Year Ended 31 August 2016
Note |
2016 |
2015 |
|
Cash flows from operating activities |
|||
Profit for the year |
|
|
|
Adjustments to cash flows from non-cash items |
|||
Depreciation and amortisation |
|
|
|
(Profit)/loss on disposal of tangible assets |
( |
|
|
Finance income |
( |
( |
|
Finance costs |
|
|
|
Income tax expense |
|
|
|
|
|
||
Working capital adjustments |
|||
Decrease in stocks |
|
|
|
Decrease in trade debtors |
|
|
|
Increase/(decrease) in trade creditors |
|
( |
|
Cash generated from operations |
|
|
|
Income taxes paid |
( |
( |
|
Net cash flow from operating activities |
|
|
|
Cash flows from investing activities |
|||
Interest received |
|
|
|
Acquisitions of tangible assets |
( |
( |
|
Proceeds from sale of tangible assets |
|
|
|
Acquisition of investment properties |
( |
- |
|
Net cash flows from investing activities |
( |
( |
|
Cash flows from financing activities |
|||
Interest paid |
( |
( |
|
Proceeds from other borrowing draw downs |
- |
|
|
Repayment of other borrowing |
( |
- |
|
Dividends paid |
( |
( |
|
Net cash flows from financing activities |
( |
( |
|
Net increase in cash and cash equivalents |
|
|
|
Cash and cash equivalents at 1 September |
|
|
|
Cash and cash equivalents at 31 August |
2,244,100 |
1,810,335 |
Page 10 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
The principal activity of the company is disclosed in the Strategice Report.
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 were prepared in accordance with Companies Act 2006 and with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
This is the first year that FRS102 has been adopted. No transitional adjustments were required in the coversion to FRS 102.
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.
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 current and 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 11 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
Freehold land |
Not depreciated |
Freehold buildings |
2% straight line basis |
Plant and machinery |
20% straight line basis |
Motor vehicles |
20% straight line basis |
Office equipment |
20% straight line basis |
Investment property
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
20% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 12 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Page 13 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Revenue |
The analysis of the company's revenue for the year from continuing operations is as follows:
2016 |
2015 |
|
Rendering of services |
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
2016 |
2015 |
|
Sub lease rental income |
|
- |
Page 14 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Operating profit |
Arrived at after charging/(crediting)
2016 |
2015 |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Operating lease expense - plant and machinery |
|
|
(Profit)/loss on disposal of property, plant and equipment |
( |
|
Other interest receivable and similar income |
2016 |
2015 |
|
Interest income on financial assets |
|
|
Interest payable and similar expenses |
2016 |
2015 |
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2016 |
2015 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
Pension costs, defined benefit scheme |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2016 |
2015 |
|
Production |
|
|
Administration and support |
|
|
Other departments |
|
|
|
|
Page 15 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Directors' remuneration |
The directors' remuneration for the year was as follows:
2016 |
2015 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
21,353 |
29,363 |
Auditors' remuneration |
2016 |
2015 |
|
Audit of the financial statements |
|
|
Page 16 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Taxation |
Tax charged/(credited) in the income statement
2016 |
2015 |
|
Current taxation |
||
UK corporation tax |
|
|
UK corporation tax adjustment to prior periods |
( |
- |
212,751 |
208,000 |
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2015 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2016 |
2015 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
Other tax effects for reconciliation between accounting profit and tax expense (income) |
( |
- |
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
2016 |
Liability |
Difference between accumulated depreciation and capital allowances |
|
2015 |
Liability |
Difference between accumulated depreciation and capital allowances |
|
Page 17 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
At 1 September 2015 |
|
|
At 31 August 2016 |
|
|
Amortisation |
||
At 1 September 2015 |
|
|
Amortisation charge |
|
|
At 31 August 2016 |
|
|
Carrying amount |
||
At 31 August 2016 |
|
|
At 31 August 2015 |
|
|
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
Cost or valuation |
||||
At 1 September 2015 |
|
|
|
|
Additions |
- |
|
|
|
Disposals |
- |
- |
( |
( |
At 31 August 2016 |
|
|
|
|
Depreciation |
||||
At 1 September 2015 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
At 31 August 2016 |
|
|
|
|
Carrying amount |
||||
At 31 August 2016 |
|
|
|
|
At 31 August 2015 |
|
|
|
|
Included within the net book value of land and buildings above is £172,617 (2015 - £175,709) in respect of freehold land and buildings.
The carrying value of freehold land was £154,575 (2015 - £ 154,575).
Page 18 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
2016 |
2015 |
|
Furniture fittings and equipment |
238,016 |
325,064 |
Investment properties |
2016 |
|
Additions |
|
The investment property was acquired shortly before the year end and the acquisition cost was deemed to be the fair value.
There has been no valuation of investment property by an independent valuer.
Stocks |
2016 |
2015 |
|
Raw materials and consumables |
- |
|
Debtors |
2016 |
2015 |
|
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
|
Less non-current portion |
( |
- |
Total current trade and other debtors |
|
|
Details of non-current trade and other debtors
£6,164 (2015 -£Nil) of Trade debtors is classified as non current. Non current trade debtors are made up of retentions receivable after a contractually defined maintenance period.
Page 19 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Cash and cash equivalents |
2016 |
2015 |
|
Cash on hand |
|
|
Cash at bank |
|
|
|
|
|
Bank overdrafts |
( |
- |
Cash and cash equivalents in statement of cash flows |
2,244,100 |
1,810,335 |
Creditors |
Note |
2016 |
2015 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Other payables |
|
|
|
Accrued expenses |
|
|
|
Income tax liability |
213,408 |
211,025 |
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Deferred tax and other provisions |
Deferred tax |
Total |
|
At 1 September 2015 |
|
|
Additional provisions |
|
|
At 31 August 2016 |
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Page 20 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Rights, preferences and restrictions
Ordinary shares have the following rights, preferences and restrictions: |
Loans and borrowings |
2016 |
2015 |
|
Non-current loans and borrowings |
||
Finance lease liabilities |
|
|
2016 |
2015 |
|
Current loans and borrowings |
||
Bank overdrafts |
|
- |
Finance lease liabilities |
|
|
|
|
Dividends |
Interim dividends paid
2016 |
2015 |
|
Interim dividend of £5,236 (2015 - £1,536) per each ordinary share |
523,600 |
153,600 |
Page 21 |
Rockstone Surfacing Limited
Notes to the Financial Statements for the Year Ended 31 August 2016
Related party transactions |
Key management compensation
2016 |
2015 |
|
Salaries and other short term employee benefits |
|
|
Post-employment benefits |
|
|
|
|
Transactions with directors |
2016 |
At 1 September 2015 |
Advances to directors |
Repayments by director |
At 31 August 2016 |
S M Dziubinski |
||||
Directors current account |
137,957 |
|
( |
- |
L J Dziubinski |
||||
Directors current account |
137,957 |
|
( |
- |
2015 |
At 1 September 2014 |
Advances to directors |
At 31 August 2015 |
S M Dziubinski |
|||
Directors current account |
131,906 |
|
|
L J Dziubinski |
|||
Directors current account |
131,906 |
|
|
Dividends paid to directors |
2016 |
2015 |
|||
S M Dziubinski |
||||
Dividends paid |
261,800 |
76,800 |
||
L J Dziubinski |
||||
Dividend paid |
261,800 |
76,800 |
||
Control |
The company is controlled by the directors who own 100% of the called up share capital.
Page 22 |