Registered number
10756746
Sussex Stoneworks Ltd
Filleted Accounts
31 May 2023
Sussex Stoneworks Ltd
Registered number: 10756746
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 50,948 5,570
Current assets
Debtors 4 14,301 16,214
Cash at bank and in hand 10,023 41,971
24,324 58,185
Creditors: amounts falling due within one year 5 (75,857) (55,178)
Net current (liabilities)/assets (51,533) 3,007
Total assets less current liabilities (585) 8,577
Creditors: amounts falling due after more than one year 6 (897) (8,461)
Net (liabilities)/assets (1,482) 116
Capital and reserves
Share premium 2 2
Profit and loss account (1,484) 114
Shareholders' funds (1,482) 116
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Dale
Director
Approved by the board on 2 October 2023
Sussex Stoneworks Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 3 to 4 years
Fixtures, fittings, tools and equipment over 3 to 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 19,051 11,550 30,601
Additions 2,411 50,781 53,192
Disposals - (7,050) (7,050)
At 31 May 2023 21,462 55,281 76,743
Depreciation
At 1 June 2022 17,031 8,000 25,031
Charge for the year 1,931 3,458 5,389
On disposals - (4,625) (4,625)
At 31 May 2023 18,962 6,833 25,795
Net book value
At 31 May 2023 2,500 48,448 50,948
At 31 May 2022 2,020 3,550 5,570
4 Debtors 2023 2022
£ £
Trade debtors 10,426 11,866
Other debtors 3,875 4,348
14,301 16,214
5 Creditors: amounts falling due within one year 2023 2022
£ £
Loans 7,950 7,950
Obligations under finance lease and hire purchase contracts 13,944 -
Trade creditors 55,947 45,646
Taxation and social security costs (14,254) 344
Accrued expenses 686 686
Other creditors 11,584 552
75,857 55,178
6 Creditors: amounts falling due after one year 2023 2022
£ £
Loans 13,419 21,490
Obligations under finance lease and hire purchase contracts 33,778 -
Directors Loan Accounts (46,300) (13,029)
897 8,461
7 Other information
Sussex Stoneworks Ltd is a private company limited by shares and incorporated in England. Its registered office is:
45 Western Road
Hurstpierpoint
West Sussex
BN6 9SU
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