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Registered number: 02861555 STONEBLOCK UK LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2023
STONEBLOCK UK LIMITED REGISTERED NUMBER: 02861555 BALANCE SHEET AS AT 31 MARCH 2023
|  | 2023 |  | 2022
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | - |  | 288,073
|  |  | - |  | 288,073
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 288,431 |  | - |
|  | 288,431 |  | - |
Creditors: amounts falling due within one year | 6 | (324,497) |  | (302,064) |
Net current liabilities |  |  | (36,066) |  | (302,064)
Total assets less current liabilities |  |  | (36,066) |  | (13,991)
Net liabilities |  |  | (36,066) |  | (13,991)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (36,166) |  | (14,091)
|  |  | (36,066) |  | (13,991)
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2023.
S Houri
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STONEBLOCK UK LIMITED REGISTERED NUMBER: 02861555 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023
Director
The notes on pages 3 to 5 form part of these financial statements. Page 2
STONEBLOCK UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. | General information
Stoneblock UK Limited is a company limited by shares, incorporated in England and Wales. The principal acitivites of the company was that of property investment, development and management. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Going concern
The director considers that the company has sufficient funding for the foreseeable future in the form of director and connected party support. The financial statements have therefore been prepared as a going concern on the basis that the company is expected to continue in operational existence for the foreseeable future.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services 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 when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 3
STONEBLOCK UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2.Accounting policies (continued)
| 2.5 | Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of comprehensive income.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.8 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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STONEBLOCK UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. | Investment property
|  | Freehold investment property
|  | £
| At 1 April 2022 | 288,073
| Additions at cost | 358
| Disposals | (288,431)
| At 31 March 2023 | -
The 2023 valuations were made by the director, on an open market value for existing use basis.
5. | Debtors
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Other debtors | 288,431 | -
|  | 288,431 | -
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Other creditors | 322,697 | 300,264
| Accruals and deferred income | 1,800 | 1,800
|  | 324,497 | 302,064
7. | Creditors: Amounts falling due after more than one year
8. | Related party transactions
| During the year the company was charged interest on loans totalling £17,073 (2022: £11,598) from companies under common directorship. At the balance sheet date the company owed £34,266 (2022: £300,263) to these companies.
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