Company registration number 10137379 (England and Wales)
Halestone Masonry Ltd
Unaudited financial statements
financial statements
for the year ended 30 April 2023
PAGES FOR FILING WITH REGISTRAR
Halestone Masonry Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Halestone Masonry Ltd
Statement of financial position
as at 30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,003
9,003
Tangible assets
4
69,418
82,259
77,421
91,262
Current assets
Stocks
89,997
49,997
Debtors
5
44,540
90,483
Cash at bank and in hand
1,450
469
135,987
140,949
Creditors: amounts falling due within one year
6
(78,582)
(79,689)
Net current assets
57,405
61,260
Total assets less current liabilities
134,826
152,522
Creditors: amounts falling due after more than one year
7
(51,672)
(68,333)
Provisions for liabilities
8
(13,189)
(13,222)
Net assets
69,965
70,967
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
69,865
70,867
Total equity
69,965
70,967
Halestone Masonry Ltd
Statement of financial position (continued)
as at 30 April 2023
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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 and signed by the director and authorised for issue on 2 October 2023
J N Haley
Director
Company Registration No. 10137379
Halestone Masonry Ltd
Notes to the Financial Statements
for the year ended 30 April 2023
- 3 -
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.
Turnover is recognised upon the provision of services.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% Reducing balance
Fixtures and fittings
15% Reducing balance
Motor vehicles
25% Reducing balance
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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Halestone Masonry Ltd
Notes to the Financial Statements (continued)
for the year ended 30 April 2023
1
Accounting policies
(continued)
- 4 -
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
7
5
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
10,003
Amortisation and impairment
At 1 May 2022
1,000
Amortisation charged for the year
1,000
At 30 April 2023
2,000
Carrying amount
At 30 April 2023
8,003
At 30 April 2022
9,003
Halestone Masonry Ltd
Notes to the Financial Statements (continued)
for the year ended 30 April 2023
- 5 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022
60,105
40,804
12,954
113,863
Disposals
(15,000)
(15,000)
At 30 April 2023
45,105
40,804
12,954
98,863
Depreciation and impairment
At 1 May 2022
20,087
4,084
7,433
31,604
Depreciation charged in the year
3,012
5,508
1,380
9,900
Eliminated in respect of disposals
(12,059)
(12,059)
At 30 April 2023
11,040
9,592
8,813
29,445
Carrying amount
At 30 April 2023
34,065
31,212
4,141
69,418
At 30 April 2022
40,018
36,720
5,521
82,259
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,420
28,412
Amounts owed by connected company
20,672
39,028
Other debtors
12,448
23,043
44,540
90,483
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
22,000
22,000
Trade creditors
1,834
2,141
Corporation tax
3,473
Other taxation and social security
8,264
10,357
Other creditors
28,023
33,637
Accruals and deferred income
14,988
11,554
78,582
79,689
The bank loan is secured.
Halestone Masonry Ltd
Notes to the Financial Statements (continued)
for the year ended 30 April 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
51,672
68,333
The bank loan is secured.
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
13,189
13,222
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
100
100
100
100
10
Company information
Halestone Masonry Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.