REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
FOR |
N STONES BUILDERS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
FOR |
N STONES BUILDERS LIMITED |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
N STONES BUILDERS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
Bank Street |
Mexborough |
Doncaster |
South Yorkshire |
S64 9QE |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
BALANCE SHEET |
31 MARCH 2018 |
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
BALANCE SHEET - continued |
31 MARCH 2018 |
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 |
(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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors on |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
1. | STATUTORY INFORMATION |
N Stones Builders Limited is a |
The company's registered number and registered office address can be found on the Company |
Information page. |
The financial statements are presented in sterling which is the functional currency of the company |
and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have |
had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation |
uncertainty at the reporting date that have a significant risk of causing material adjustment to the |
carrying amount of assets and liabilities within the next financial year. |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
When the outcome of a construction contract can be estimated reliably, contract costs and turnover |
are recognised by reference to the stage of completion at the balance sheet date. Stage of |
completion is measured by reference to performance of contractual obligations and services |
rendered. |
Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the |
period in which they are incurred and contract turnover is recognised to the extent of costs incurred |
that it is probable will be recoverable. |
When it is probable that contract costs will exceed the total contract turnover, the expected loss is |
recognised as an expense immediately, with a corresponding provision. |
Goodwill |
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the |
Balance Sheet and amortised over its estimated useful life up to a maximum of 20 years. This length |
of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to |
make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full |
financial year following each acquisition and subsequently as and when necessary if circumstances |
emerge that indicate that the carrying value may not be recoverable. |
Amortisation |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, |
over the useful economic life of that asset as follows: |
Goodwill - over 20 years on a straight line basis. |
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 property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
capable of operating as intended. |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
Investment properties are included in the financial statements at historical cost. This treatment |
does not comply with the requirements of the Financial Reporting Standards 102 which requires |
investment properties to be stated at market value. It is the view of the directors that a formal |
revaluation of the investment properties would not be commercially justifiable. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. |
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to |
its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is |
made for damaged, obsolete and slow-moving stock where appropriate. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet 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. |
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. |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual |
arrangement, as either financial assets, financial liabilities or equity instruments. An equity |
instrument is any contract that evidences a residual interest in the assets of the company after |
deducting all of its liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
AMORTISATION |
At 1 April 2017 |
Amortisation for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2017 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2017 |
and 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
7. | STOCKS |
31.3.18 | 31.3.17 |
£ | £ |
Stocks |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Directors' current accounts | 191,579 | 174,151 |
Prepayments and accrued income |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
Other creditors | 5,267 | 5,267 |
Corporation tax |
PAYE and NIC |
VAT | 7,283 | 38,212 |
Accruals and deferred income |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2017 |
Profit for the year |
Dividends | ( |
) |
At 31 March 2018 |
N STONES BUILDERS LIMITED (REGISTERED NUMBER: 04666713) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2018 |
and 31 March 2017: |
31.3.18 | 31.3.17 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr N and Mrs J Stones. |
The company was under the control of Mr N and Mrs J Stones throughout the current year. |