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REGISTERED NUMBER: 03731821 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

STONEMAN FUNERAL SERVICE LIMITED

STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 141,334 133,536

CURRENT ASSETS
Stocks 88,448 97,647
Debtors 6 3,104,958 3,154,600
Cash at bank and in hand 125,620 240,720
3,319,026 3,492,967
CREDITORS
Amounts falling due within one year 7 1,189,846 1,276,865
NET CURRENT ASSETS 2,129,180 2,216,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,270,514

2,349,638

PROVISIONS FOR LIABILITIES 21,247 13,952
NET ASSETS 2,249,267 2,335,686

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,249,265 2,335,684
SHAREHOLDERS' FUNDS 2,249,267 2,335,686

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





Miss M R Stoneman - Director


STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Stoneman Funeral Service Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03731821

Registered office: Chancery House
3 Hatchlands Road
Redhill
Surrey
RH1 6AA

The presentation currency of the financial statements is the Pound Sterling (£).


All amounts in the financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the company's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. At each reporting period date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised when the company has satisfied its contractual obligation.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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 shorter.

Leasehold property- Over the life of the lease
Plant and machinery- 20% reducing balance, 25% on cost and 15% on reducing balance

Where buildings are maintained to such a standard that their expected residual value is not less than their cost, no depreciation is charged as it is not material. The carrying value of non-depreciated buildings is subject to an annual impairment review.

Stocks
Stock and work in progress are valued at lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include trade debtors, loans to fellow group companies, other debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors, loans from fellow group companies, bank loans and other creditors are initially recognised at transaction price and are subsequently recognised at amortised cost.

The company has no financial assets or financial liabilities measured at fair value, but the company does have external borrowings. The company is not exposed to risk arising from the interest rate benchmark reform as LIBOR is replaced with alternative benchmark interest rates.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the 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.

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.

Substance of transactions
In determining how amounts are presented within items in the profit and loss account and balance sheet, the directors had regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 27 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022 3,821 72,089 116,906
Additions - 8,059 29,672
Disposals - - (149 )
At 31 March 2023 3,821 80,148 146,429
DEPRECIATION
At 1 April 2022 3,056 55,456 76,286
Charge for year 382 2,812 8,959
Eliminated on disposal - - (42 )
At 31 March 2023 3,438 58,268 85,203
NET BOOK VALUE
At 31 March 2023 383 21,880 61,226
At 31 March 2022 765 16,633 40,620

STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 246,577 25,840 465,233
Additions - 1,008 38,739
Disposals (5,995 ) (400 ) (6,544 )
At 31 March 2023 240,582 26,448 497,428
DEPRECIATION
At 1 April 2022 174,566 22,333 331,697
Charge for year 13,913 1,669 27,735
Eliminated on disposal (2,896 ) (400 ) (3,338 )
At 31 March 2023 185,583 23,602 356,094
NET BOOK VALUE
At 31 March 2023 54,999 2,846 141,334
At 31 March 2022 72,011 3,507 133,536

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 327,289 269,149
Amounts owed by group undertakings 1,544,476 1,589,340
Other debtors 993,963 1,057,384
2,865,728 2,915,873

Amounts falling due after more than one year:
Other debtors 239,230 238,727

Aggregate amounts 3,104,958 3,154,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 173,761 213,047
Amounts owed to group undertakings 844,122 879,669
Taxation and social security 51,487 36,526
Other creditors 120,476 147,623
1,189,846 1,276,865

STONEMAN FUNERAL SERVICE LIMITED (REGISTERED NUMBER: 03731821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CONTINGENT LIABILITIES

A cross guarantee is in place with National Westminster Bank plc to secure the monies owed to it by Sherlock Funeral Service Limited, J Stoneman and Sons Limited and Stoneman Funeral Service Limited. As at 31 March 2023 the amounts due to the bank by Sherlock Funeral Service Limited was £nil (2022: £nil), by J Stoneman and Sons Limited was £378,692 (2022: £419,104) and by Stoneman Funeral Service Limited was £nil (2022: £nil).

9. OTHER COMMITMENTS

At 31 March 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £175,967 (2022: £243,622).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the amounts advanced to directors totalled £56,671 and the directors repaid amounts totalling £113,886. At the balance sheet date the company was owed £932,663 (2022: £989,878) by the directors. The amounts are provided interest free and are repayable on demand.

11. PARENT COMPANY

J Stoneman & Sons Limited, a company registered in England and Wales, is regarded by the directors as being the company's parent company. Stoneman Group Holdings Limited, a company registered in England and Wales, is regarded by the directors as being the company's ultimate parent company. The registered office of both J Stoneman & Sons Limited and Stoneman Group Holdings Limited is Doran Court, Shaw's Corner, Redhill, Surrey, RH1 6AZ.