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Abbreviated Accounts for the Year Ended 30 November 2015 |
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Southern Gravel Limited |
REGISTERED NUMBER:
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Abbreviated Accounts for the Year Ended 30 November 2015 |
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Southern Gravel Limited |
Southern Gravel Limited (Registered number: 04957939) |
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Contents of the Abbreviated Accounts |
for the Year Ended 30 November 2015 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Southern Gravel Limited |
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Company Information |
for the Year Ended 30 November 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Southern Gravel Limited (Registered number: 04957939) |
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Abbreviated Balance Sheet |
30 November 2015 |
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30/11/15 | 30/11/14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Share premium |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Southern Gravel Limited (Registered number: 04957939) |
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Abbreviated Balance Sheet - continued |
30 November 2015 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Southern Gravel Limited (Registered number: 04957939) |
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Notes to the Abbreviated Accounts |
for the Year Ended 30 November 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company's quarry was not operational during the year under review. As at the date of approval of |
the financial statements and following the review and renewal of the company's permits and licences, |
it is anticipated that quarry operations would shortly recommence. |
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The company has reported a net loss for the year of £441,754. At the Balance Sheet date the |
company's liabilities exceeded its assets by £2,390,964. Of the company's total liabilities at the year |
end approximately £2.1m represented loans from the its shareholders and directors. In May 2016 the |
entire issued share capital of the company was acquired by a corporate entity unconnected with the |
previous shareholders. In connection with the acquisition the new sole shareholder assumed |
ownership of the existing shareholders' and directors' loans and has given an undertaking to continue |
to make these loans available to the company for the foreseeable future and, if necessary, provide |
additional funding to enable the company to pay its debts as they fall due. |
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Given the above the directors are of the view that the company would have adequate resources to |
continue in operational existence for at least twelve months from the date of approval of the financial |
statements and therefore continue to adopt the going concern basis in its preparation. |
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The financial statements do not include any adjustments that might be necessary should the company's |
financier withdraw its support and the company is unable to secure alternative funding. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover relates to income from quarry operations net of value added tax. |
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Tangible fixed assets |
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Plant & machinery | - |
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Fixtures & fittings | - |
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Computer equipment | - |
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Southern Gravel Limited (Registered number: 04957939) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 November 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 December 2014 |
and 30 November 2015 |
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DEPRECIATION |
At 1 December 2014 |
and 30 November 2015 |
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NET BOOK VALUE |
At 30 November 2015 |
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At 30 November 2014 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/11/15 | 30/11/14 |
value: | £ | £ |
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Ordinary A | £0.01 |
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Ordinary 8 | £1 |
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Ordinary | £1 |
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51,500 | 51,500 |