REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
ROCKSTONE SURFACING LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
ROCKSTONE SURFACING LIMITED |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Statement of Income and Retained Earnings | 8 |
Statement of Financial Position | 9 |
Statement of Cash Flows | 10 |
Notes to the Statement of Cash Flows | 11 |
Notes to the Financial Statements | 12 |
ROCKSTONE SURFACING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Old Station House |
Station Approach |
Swindon |
Wiltshire |
SN1 3DU |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 AUGUST 2022 |
The directors present their strategic report for the year ended 31 August 2022. |
REVIEW OF BUSINESS |
Summary of year-end 31/08/2022 |
The Company has continued to increase turnover year on year, achieving a highlight performance of £12.7M and net profit of £0.5M, certifying a significant post-covid recovery, resilience to international economic uncertainties and a proven increased market share in the region's growing new build housing sector. |
Continued investment in the company has ensured robust development of the management team and supportive and operational roles, ensuring operational strength for the future. Sustained investment in plant and vehicles continues to ensure business continuity. Nationally recognised Quality Management System accreditations for ISO:9001 and National Highways Sector Scheme 16 have been awarded. |
2022/23 Outlook |
The Company will build upon the previous year's successful performance focusing attention towards the developed quality management system, customer satisfaction and solidifying our position with existing key clients whilst also pursuing a newly emerging customer base, available through both accreditation and marketing streams. Focusing on these key aspects will ensure a strong position is maintained in the face of economic uncertainty as it develops both in Europe and Internationally. This continues to affect both raw material prices and the certainty of continued investment in key sectors. The Company remains optimistic for another successful year and will continue to develop new and effective solutions to emerging challenges. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Whilst well documented, the full impact of leaving the European Union 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. |
ON BEHALF OF THE BOARD: |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
The directors present their report with the financial statements of the company for the year ended 31 August 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the company is the provision of sub-contract civil engineering, macadam and resinous surfacing in the South of England and South Wales. |
DIVIDENDS |
Interim dividends per share were paid as follows: |
896 | - 31 March 2022 |
464 | - 12 April 2022 |
640 | - 31 August 2022 |
The directors recommend that no final dividend be paid. |
The total distribution of dividends for the year ended 31 August 2022 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 September 2021 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 then 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. |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROCKSTONE SURFACING LIMITED |
Opinion |
We have audited the financial statements of Rockstone Surfacing Limited (the 'company') for the year ended 31 August 2022 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 August 2022 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. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters 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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROCKSTONE SURFACING LIMITED |
Matters on which we are required to report by exception |
In the light of the 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 or the Report of the Directors. |
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. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We obtained an understanding of the legal and regulatory framework applicable to both the company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102) and relevant tax legislation. |
We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included: |
- making enquires of directors and management as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud; |
- obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; |
- assessing the design effectiveness of the controls in place to prevent and detect fraud; |
- assessing the risk of management override including identifying and testing journal entries; and |
- challenging the assumptions and judgements made by management in its significant accounting estimates. |
Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROCKSTONE SURFACING LIMITED |
Use of our report |
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 a Report of the Auditors 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. |
for and on behalf of |
Chartered Accountants & Statutory Auditors |
Old Station House |
Station Approach |
Swindon |
Wiltshire |
SN1 3DU |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
STATEMENT OF INCOME AND |
RETAINED EARNINGS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
31/8/22 | 31/8/21 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
411,882 | 444,194 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
Dividends | 6 | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2022 |
31/8/22 | 31/8/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
Tangible assets | 8 |
Investment property | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 13 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 14 |
Retained earnings | 15 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
31/8/22 | 31/8/21 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Amount introduced by directors | 53,783 | - |
Amount withdrawn by directors | - | (1,427 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
920,967 |
Cash and cash equivalents at end of year |
2 |
1,125,146 |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
1. | RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS |
31/8/22 | 31/8/21 |
£ | £ |
Profit for the financial year |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Gain on revaluation of fixed assets | (39,500 | ) | (115,353 | ) |
Finance income | (185 | ) | (94 | ) |
Taxation |
737,110 | 701,092 |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
Year ended 31 August 2022 |
31/8/22 | 1/9/21 |
£ | £ |
Cash and cash equivalents | 1,201,355 | 1,125,146 |
Bank overdrafts | ( |
) |
1,191,837 | 1,125,146 |
Year ended 31 August 2021 |
31/8/21 | 1/9/20 |
£ | £ |
Cash and cash equivalents | 1,125,146 | 920,967 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/9/21 | Cash flow | At 31/8/22 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 1,125,146 | 76,209 | 1,201,355 |
Bank overdrafts | - | (9,518 | ) | (9,518 | ) |
1,125,146 | 1,191,837 |
Total | 1,125,146 | 66,691 | 1,191,837 |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
1. | STATUTORY INFORMATION |
Rockstone Surfacing Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
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 |
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. |
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 statement of financial position date. |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
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 |
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. |
3. | EMPLOYEES AND DIRECTORS |
31/8/22 | 31/8/21 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
31/8/22 | 31/8/21 |
Production | 47 | 43 |
Admin | 11 | 11 |
Other | 4 | 4 |
31/8/22 | 31/8/21 |
£ | £ |
Directors' remuneration |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31/8/22 | 31/8/21 |
£ | £ |
Hire of plant and machinery |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Auditor's remuneration |
The total cost of other services provided by the auditors was £5,742 (2021: £7,590). |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31/8/22 | 31/8/21 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
31/8/22 | 31/8/21 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) | ( |
) |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Utilisation of tax losses | ( |
) |
Adjustments to tax charge in respect of previous periods |
accounting profit and tax |
Deferred tax movement | 47,699 | 36,567 |
disposal |
Total tax charge | 133,703 | 89,259 |
6. | DIVIDENDS |
31/8/22 | 31/8/21 |
£ | £ |
Ordinary shares of 1 each |
Interim |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
7. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2021 |
and 31 August 2022 |
AMORTISATION |
At 1 September 2021 |
and 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
8. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings | Other |
Freehold | and | Motor | tangible |
property | equipment | vehicles | assets | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2021 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
9. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2021 |
Revaluations | 39,500 |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
9. | INVESTMENT PROPERTY - continued |
Fair value at 31 August 2022 is represented by: |
£ |
Valuation in 2022 | 39,500 |
Valuation in 2021 | 115,353 |
Valuation in 2020 | 127,755 |
Valuation in 2019 | 92,500 |
Valuation in 2018 | (55,105 | ) |
Cost | 1,689,997 |
2,010,000 |
Valuations are based on sales value in an open market. The properties were valued by a property expert. |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/22 | 31/8/21 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current account | - | 7,383 |
Tax |
VAT |
Prepayments and accrued income |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/22 | 31/8/21 |
£ | £ |
Bank loans and overdrafts (see note 12) |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current account | 46,400 | - |
Accruals and deferred income |
12. | LOANS |
An analysis of the maturity of loans is given below: |
31/8/22 | 31/8/21 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
13. | PROVISIONS FOR LIABILITIES |
31/8/22 | 31/8/21 |
£ | £ |
Deferred tax | 221,151 | 173,452 |
ROCKSTONE SURFACING LIMITED (REGISTERED NUMBER: 01933766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
13. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 September 2021 |
Fixed assets | 23,446 |
Investment property | 26,705 |
General bad debt provision | (2,452 | ) |
Balance at 31 August 2022 |
14. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/8/22 | 31/8/21 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
15. | RESERVES |
Retained |
earnings |
£ |
At 1 September 2021 |
Profit for the year |
Dividends | ( |
) |
At 31 August 2022 |
16. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 August 2022 and 31 August 2021: |
31/8/22 | 31/8/21 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced | ( |
) |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |