Company Registration No. 01177928 (England and Wales)
Stone Dam Mills Limited
Financial Statements
for the year ended 30 June 2018
Stone Dam Mills Limited
Company Information
Directors
P N Rawnsley
S M Rawnsley
D N Rawnsley
(Appointed 4 October 2018)
Secretary
S M Rawnsley
Company number
01177928
Registered office
Stone Dam Mills
Well Lane
Halifax
HX1 1SG
Accountants
B M Howarth Ltd
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
Business address
Stone Dam Mills
Well Lane
Halifax
HX1 1SG
Stone Dam Mills Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Stone Dam Mills Limited
Statement of financial position
as at 30 June 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
111,038
109,655
Current assets
Stocks
381,551
399,017
Debtors
4
43,455
37,167
Cash at bank and in hand
-
200
425,006
436,384
Creditors: amounts falling due within one year
5
(184,041)
(188,864)
Net current assets
240,965
247,520
Total assets less current liabilities
352,003
357,175
Capital and reserves
Called up share capital
6
7,900
7,900
Profit and loss reserves
344,103
349,275
Total equity
352,003
357,175

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 24 October 2018 and are signed on its behalf by:
P N Rawnsley
Director
Company Registration No. 01177928
Stone Dam Mills Limited
Notes to the financial statements
for the year ended 30 June 2018
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Turnover is recognised on supply of goods.

 

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% per annum straight line basis
Fixtures, fittings & equipment
25% per annum reducing balance basis
Motor vehicles
25% per annum reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Stone Dam Mills Limited
Notes to the financial statements (continued)
for the year ended 30 June 2018
1
Accounting policies
(continued)
- 3 -
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 15 (2017 - 14).

3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2017
120,410
306,277
426,687
Additions
-
16,800
16,800
Disposals
-
(22,905)
(22,905)
At 30 June 2018
120,410
300,172
420,582
Depreciation and impairment
At 1 July 2017
36,821
280,211
317,032
Depreciation charged in the year
2,408
9,952
12,360
Eliminated in respect of disposals
-
(19,848)
(19,848)
At 30 June 2018
39,229
270,315
309,544
Carrying amount
At 30 June 2018
81,181
29,857
111,038
At 30 June 2017
83,589
26,066
109,655
Stone Dam Mills Limited
Notes to the financial statements (continued)
for the year ended 30 June 2018
- 4 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
11,795
5,869
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,256
2,256
Other debtors
29,404
29,042
43,455
37,167
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
28,169
30,466
Trade creditors
34,194
46,800
Amounts due to group undertakings and undertakings in which the company has a participating interest
44,976
44,976
Other taxation and social security
30,447
36,991
Other creditors
46,255
29,631
184,041
188,864
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
7,900 Ordinary of £1 each
7,900
7,900
7,900
7,900
7
Company information

Stone Dam Mills Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stone Dam Mills, Well Lane, Halifax, HX1 1SG.

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