30/11/2021
2021-11-30
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No description of principal activities is disclosed
2021-01-01
Sage Accounts Production 21.0 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
05497978
2021-01-01
2021-11-30
05497978
2021-11-30
05497978
2020-12-31
05497978
2020-01-01
2020-12-31
05497978
2020-12-31
05497978
2019-12-31
05497978
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-01-01
2021-11-30
05497978
core:PlantMachinery
2021-01-01
2021-11-30
05497978
core:FurnitureFittingsToolsEquipment
2021-01-01
2021-11-30
05497978
core:MotorVehicles
2021-01-01
2021-11-30
05497978
bus:Director1
2021-01-01
2021-11-30
05497978
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
05497978
core:PlantMachinery
2020-12-31
05497978
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2020-12-31
05497978
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2020-12-31
05497978
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core:OwnedOrFreeholdAssets
2021-11-30
05497978
core:PlantMachinery
2021-11-30
05497978
core:FurnitureFittingsToolsEquipment
2021-11-30
05497978
core:MotorVehicles
2021-11-30
05497978
core:WithinOneYear
2021-11-30
05497978
core:WithinOneYear
2020-12-31
05497978
core:AfterOneYear
2021-11-30
05497978
core:AfterOneYear
2020-12-31
05497978
core:RetainedEarningsAccumulatedLosses
2020-01-01
2020-12-31
05497978
core:ShareCapital
2021-01-01
2021-11-30
05497978
core:CapitalRedemptionReserve
2021-01-01
2021-11-30
05497978
core:RetainedEarningsAccumulatedLosses
2021-01-01
2021-11-30
05497978
core:ShareCapital
2021-11-30
05497978
core:ShareCapital
2020-12-31
05497978
core:SharePremium
2021-11-30
05497978
core:SharePremium
2020-12-31
05497978
core:CapitalRedemptionReserve
2021-11-30
05497978
core:RetainedEarningsAccumulatedLosses
2021-11-30
05497978
core:RetainedEarningsAccumulatedLosses
2020-12-31
05497978
core:ShareCapital
2019-12-31
05497978
core:SharePremium
2019-12-31
05497978
core:RetainedEarningsAccumulatedLosses
2019-12-31
05497978
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
05497978
core:PlantMachinery
2020-12-31
05497978
core:FurnitureFittingsToolsEquipment
2020-12-31
05497978
core:MotorVehicles
2020-12-31
05497978
bus:SmallEntities
2021-01-01
2021-11-30
05497978
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2021-11-30
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2021-11-30
05497978
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-11-30
Company registration number:
05497978
BELLAGIO STONE LIMITED
Filleted financial statements
30 November 2021
BELLAGIO STONE LIMITED
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
BELLAGIO STONE LIMITED
Statement of financial position
30 November 2021
|
|
|
30/11/21 |
|
|
|
31/12/20 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
2,728,960 |
|
|
|
2,549,318 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
2,728,960 |
|
|
|
2,549,318 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
422,737 |
|
|
|
340,114 |
|
|
Debtors |
|
6 |
1,252,054 |
|
|
|
1,220,725 |
|
|
Cash at bank and in hand |
|
|
25,578 |
|
|
|
15,517 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,700,369 |
|
|
|
1,576,356 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
1,603,584) |
|
|
|
(
1,264,579) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
96,785 |
|
|
|
311,777 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
2,825,745 |
|
|
|
2,861,095 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
1,795,566) |
|
|
|
(
1,721,134) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
160,814) |
|
|
|
(
89,753) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
869,365 |
|
|
|
1,050,208 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
845 |
|
|
|
1,111 |
Share premium account |
|
|
|
|
19,889 |
|
|
|
19,889 |
Capital redemption reserve |
|
|
|
|
266 |
|
|
|
- |
Profit and loss account |
|
|
|
|
848,365 |
|
|
|
1,029,208 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
869,365 |
|
|
|
1,050,208 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the period ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 August 2022
, and are signed on behalf of the board by:
Mr R Wilkinson
Director
BELLAGIO STONE LIMITED
Statement of changes in equity
Period ended 30 November 2021
|
|
Called up share capital |
Share premium account |
|
Capital redemption reserve |
|
Profit and loss account |
Total |
|
|
|
|
£ |
£ |
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2020 |
|
1,111 |
19,889 |
|
- |
|
940,892 |
961,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
|
|
|
|
225,816 |
225,816 |
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
Total comprehensive income for the period |
|
- |
- |
|
- |
|
225,816 |
225,816 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
|
|
|
(
137,500) |
(
137,500) |
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
Total investments by and distributions to owners |
|
- |
- |
|
- |
|
(
137,500) |
(
137,500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
At 31 December 2020 and 1 January 2021 |
|
1,111 |
19,889 |
|
- |
|
1,029,208 |
1,050,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
|
|
|
|
117,157 |
117,157 |
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
Total comprehensive income for the period |
|
- |
- |
|
- |
|
117,157 |
117,157 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
|
|
|
(
100,000) |
(
100,000) |
|
|
Purchase of own shares |
|
(
266) |
- |
|
266 |
|
(
198,000) |
(
198,000) |
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
Total investments by and distributions to owners |
|
(
266) |
- |
|
266 |
|
(
298,000) |
(
298,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
At 30 November 2021 |
|
845 |
19,889 |
|
266 |
|
848,365 |
869,365 |
|
|
|
|
_______ |
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
BELLAGIO STONE LIMITED
Notes to the financial statements
Period ended 30 November 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Heathcote Way, Heathcote Industrial Estate, Warwick, Warwickshire, CV34 6TE.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
1 % |
straight line |
|
Plant and machinery |
- |
10 % |
straight line |
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured 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 the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
49
(2020:
46
).
5.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2021 |
1,715,515 |
1,411,463 |
58,732 |
109,792 |
3,295,502 |
|
|
|
Additions |
- |
260,657 |
1,051 |
94,466 |
356,174 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 November 2021 |
1,715,515 |
1,672,120 |
59,783 |
204,258 |
3,651,676 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2021 |
58,086 |
585,825 |
38,614 |
63,660 |
746,185 |
|
|
|
Charge for the year |
15,726 |
123,598 |
10,501 |
26,706 |
176,531 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 November 2021 |
73,812 |
709,423 |
49,115 |
90,366 |
922,716 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 November 2021 |
1,641,703 |
962,697 |
10,668 |
113,892 |
2,728,960 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2020 |
1,657,429 |
825,638 |
20,118 |
46,132 |
2,549,317
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
30/11/21 |
31/12/20 |
|
|
|
£ |
£ |
|
Trade debtors |
|
1,109,014 |
1,055,362 |
|
Other debtors |
|
143,040 |
165,363 |
|
|
|
_______ |
_______ |
|
|
|
1,252,054 |
1,220,725 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
30/11/21 |
31/12/20 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
370,231 |
174,825 |
|
Trade creditors |
|
947,926 |
808,950 |
|
Corporation tax |
|
- |
38,645 |
|
Social security and other taxes |
|
44,124 |
39,554 |
|
Other creditors |
|
241,303 |
202,605 |
|
|
|
_______ |
_______ |
|
|
|
1,603,584 |
1,264,579 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Bank loans and overdrafts includes an invoice discounting loan of £237,542 (31 December 2020:£85, 318) and bank loans due for repayment within one year of £132,689 (31 December 2020:£89,507). The company has an invoice discounting facility with its bankers that provides for an advancement of the company's trade debtors. Drawdown up to a maximum of 80% of approved debtors is permitted subject to a cap of £850,000. Interest on the discounting loan is charged at 2% over bank base rate. Bank loans are secured by a first legal charge over the company's freehold premises.
8.
Creditors: amounts falling due after more than one year
|
|
|
30/11/21 |
31/12/20 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
1,222,157 |
1,353,638 |
|
Other creditors |
|
573,409 |
367,496 |
|
|
|
_______ |
_______ |
|
|
|
1,795,566 |
1,721,134 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Bank loans due after more than one year are secured on the company's freehold premises.
Included within creditors amounts falling due after more than one year is an amount of £731,400 (31 December 2020:£862,279) in respect of liabilities payable by instalments which fall due for payment more than five years from the reporting date.
9.
Events after the end of the reporting period
On 7 December 2021 the shares of Bellagio Stone Limited were acquired by Bellagio Marble Ideas Limited (company number 13645733) in exchange for a new issue of shares in Bellagio Marble Ideas Limited. This transaction formed part of a reorganisation in which Bellagio Stone Limited and Marble Ideas Limited (company number 02710610) were brought into a group under a newly formed company, Bellagio Marble Ideas Limited.
10.
Directors advances, credits and guarantees
As at 30 November 2021 the company owed one of its directors, Mr Robert Wilkinson, an amount of £162,241 (31 December 2020:£7,156). This amount is included in creditors:amounts falling due after more than one year.