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REGISTERED NUMBER: 00326384 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

J STONEMAN AND SONS LIMITED

J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 711,953 704,597
Investments 6 989 989
712,942 705,586

CURRENT ASSETS
Debtors 7 1,781,412 1,686,488
Cash at bank 10,816 122,242
1,792,228 1,808,730
CREDITORS
Amounts falling due within one year 8 1,635,889 1,698,637
NET CURRENT ASSETS 156,339 110,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

869,281

815,679

CREDITORS
Amounts falling due after more than one
year

9

(664,221

)

(717,168

)

PROVISIONS FOR LIABILITIES (2,788 ) -
NET ASSETS 202,272 98,511

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Share premium 1,000 1,000
Capital redemption reserve 1,000 1,000
Retained earnings 170,272 66,511
SHAREHOLDERS' FUNDS 202,272 98,511

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.

J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

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:





M R Stoneman - Director


J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

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

1. STATUTORY INFORMATION

J Stoneman and Sons 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: 00326384

Registered office: Doran Court
Shaws Corner
Reigate Road
Redhill
Surrey
RH1 6AZ

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


All amounts in the financial statements have been 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.

Preparation of consolidated financial statements
The financial statements contain information about J Stoneman and Sons Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

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

3. ACCOUNTING POLICIES - continued

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.

Turnover and revenue recognition
Turnover represents rent and management charges receivable 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
Fixtures and fittings- 20% straight line

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, which include other debtors, loans to fellow group companies 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 bank loans and overdrafts, loans from fellow group companies 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.

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.

Investments
Investments held as fixed assets are stated at cost less provision for permanent diminution in value. Dividends are brought to account in the profit and loss account when received.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses classified within interest payable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 710,666 375,879 1,086,545
Additions 23,391 - 23,391
At 31 March 2023 734,057 375,879 1,109,936
DEPRECIATION
At 1 April 2022 52,315 329,633 381,948
Charge for year 6,786 9,249 16,035
At 31 March 2023 59,101 338,882 397,983
NET BOOK VALUE
At 31 March 2023 674,956 36,997 711,953
At 31 March 2022 658,351 46,246 704,597

All the above fixed assets are held for use in operating leases.

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 102 887 989
NET BOOK VALUE
At 31 March 2023 102 887 989
At 31 March 2022 102 887 989

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,390,768 1,326,713
Other debtors 390,644 359,775
1,781,412 1,686,488

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,336 63,759
Amounts owed to group undertakings 1,544,476 1,589,340
Taxation and social security 4,310 34,857
Other creditors 28,767 10,681
1,635,889 1,698,637

J STONEMAN AND SONS LIMITED (REGISTERED NUMBER: 00326384)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 664,221 717,168

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 394,472 443,780

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 378,692 419,104

The Bank loan is secured by cross guarantee between J Stoneman and Sons Limited, Sherlock Funeral Service Limited and Stoneman Funeral Service Limited. The company's bankers hold a legal charge over the properties at Doran Court, 49 Bell Street, 11 Shelvers Hill and 47A High Street, Godstone in respect of all monies due or to become due by the company.