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REGISTERED NUMBER: 04646307 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

GLEBE STONE SALES LIMITED

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLEBE STONE SALES LIMITED

COMPANY INFORMATION
for the Year Ended 31st May 2023







DIRECTORS: T Smith
A M Smith





SECRETARY: T Smith





REGISTERED OFFICE: Heritage Barn
13 Main Street
Upton
Newark
Nottinghamshire
NG23 5ST





REGISTERED NUMBER: 04646307 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

BALANCE SHEET
31st May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 236,358 199,079
236,358 199,079

CURRENT ASSETS
Debtors 6 92,229 63,362
Cash at bank 51,377 76,893
143,606 140,255
CREDITORS
Amounts falling due within one year 7 75,705 96,997
NET CURRENT ASSETS 67,901 43,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

304,259

242,337

CREDITORS
Amounts falling due after more than one
year

8

-

(6,379

)

PROVISIONS FOR LIABILITIES 9 (43,857 ) (36,543 )
NET ASSETS 260,402 199,415

CAPITAL AND RESERVES
Called up share capital 10 997 997
Retained earnings 259,405 198,418
SHAREHOLDERS' FUNDS 260,402 199,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

BALANCE SHEET - continued
31st May 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th October 2023 and were signed on its behalf by:




T Smith - Director



A M Smith - Director


GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

Glebe Stone Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and 10% on reducing balance
Fixtures and fittings - 50% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022
and 31st May 2023 150,000
AMORTISATION
At 1st June 2022
and 31st May 2023 150,000
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st June 2022 804,244 807 11,995 2,008 819,054
Additions 54,497 - 22,660 - 77,157
Disposals - - (11,995 ) - (11,995 )
At 31st May 2023 858,741 807 22,660 2,008 884,216
DEPRECIATION
At 1st June 2022 606,343 755 11,128 1,749 619,975
Charge for year 37,564 35 1,246 166 39,011
Eliminated on disposal - - (11,128 ) - (11,128 )
At 31st May 2023 643,907 790 1,246 1,915 647,858
NET BOOK VALUE
At 31st May 2023 214,834 17 21,414 93 236,358
At 31st May 2022 197,901 52 867 259 199,079

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st June 2022
and 31st May 2023 41,380
DEPRECIATION
At 1st June 2022 13,794
Charge for year 11,035
At 31st May 2023 24,829
NET BOOK VALUE
At 31st May 2023 16,551
At 31st May 2022 27,586

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 72,185 50,358
Other debtors 500 -
Prepayments 19,544 13,004
92,229 63,362

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Hire purchase contracts 6,379 12,759
Trade creditors 12,213 8,976
Tax 14,563 11,401
Social security and other taxes 409 589
VAT 3,839 5,936
Other creditors 187 187
Directors' current accounts 22,065 41,441
Accrued expenses 16,050 15,708
75,705 96,997

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Hire purchase contracts - 6,379

9. PROVISIONS FOR LIABILITIES
31/5/23 31/5/22
£    £   
Deferred tax 43,857 36,543

Deferred
tax
£   
Balance at 1st June 2022 36,543
Accelerated capital allowances 7,314
Balance at 31st May 2023 43,857

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
996 Ordinary £1 996 996
1 Ordinary 'A' Non-Voting £1 1 1
997 997

11. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 May 2023 or 31st May 2022.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023

12. CAPITAL COMMITMENTS
31/5/23 31/5/22
£    £   
Contracted but not provided for in the
financial statements - -

13. ULTIMATE CONTROLLING PARTY

Mr T Smith and his wife own 100% of the issued voting shares of the company.