62 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05497978 2022-04-01 2023-03-31 05497978 2023-03-31 05497978 2022-03-31 05497978 2021-04-01 2022-03-31 05497978 2022-03-31 05497978 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05497978 core:PlantMachinery 2022-04-01 2023-03-31 05497978 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 05497978 core:MotorVehicles 2022-04-01 2023-03-31 05497978 bus:Director3 2022-04-01 2023-03-31 05497978 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 05497978 core:PlantMachinery 2022-03-31 05497978 core:FurnitureFittingsToolsEquipment 2022-03-31 05497978 core:MotorVehicles 2022-03-31 05497978 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 05497978 core:PlantMachinery 2023-03-31 05497978 core:FurnitureFittingsToolsEquipment 2023-03-31 05497978 core:MotorVehicles 2023-03-31 05497978 core:WithinOneYear 2023-03-31 05497978 core:WithinOneYear 2022-03-31 05497978 core:AfterOneYear 2023-03-31 05497978 core:AfterOneYear 2022-03-31 05497978 core:ShareCapital 2023-03-31 05497978 core:ShareCapital 2022-03-31 05497978 core:SharePremium 2023-03-31 05497978 core:SharePremium 2022-03-31 05497978 core:CapitalRedemptionReserve 2023-03-31 05497978 core:CapitalRedemptionReserve 2022-03-31 05497978 core:RetainedEarningsAccumulatedLosses 2023-03-31 05497978 core:RetainedEarningsAccumulatedLosses 2022-03-31 05497978 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 05497978 core:PlantMachinery 2022-03-31 05497978 core:FurnitureFittingsToolsEquipment 2022-03-31 05497978 core:MotorVehicles 2022-03-31 05497978 bus:SmallEntities 2022-04-01 2023-03-31 05497978 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05497978 bus:FullAccounts 2022-04-01 2023-03-31 05497978 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05497978 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 05497978
BELLAGIO STONE LIMITED
Unaudited filleted financial statements
31 March 2023
BELLAGIO STONE LIMITED
Contents
Statement of financial position
Notes to the financial statements
BELLAGIO STONE LIMITED
Statement of financial position
31 March 2023
31/03/23 31/03/22
Note £ £ £ £
Fixed assets
Tangible assets 5 2,598,105 2,694,456
_______ _______
2,598,105 2,694,456
Current assets
Stocks 405,758 429,769
Debtors 6 1,543,962 1,508,782
Cash at bank and in hand 66,765 21,867
_______ _______
2,016,485 1,960,418
Creditors: amounts falling due
within one year 7 ( 1,881,068) ( 1,932,232)
_______ _______
Net current assets 135,417 28,186
_______ _______
Total assets less current liabilities 2,733,522 2,722,642
Creditors: amounts falling due
after more than one year 8 ( 1,335,323) ( 1,687,502)
Provisions for liabilities ( 180,389) ( 140,355)
_______ _______
Net assets 1,217,810 894,785
_______ _______
Capital and reserves
Called up share capital 845 845
Share premium account 19,889 19,889
Capital redemption reserve 266 266
Profit and loss account 1,196,810 873,785
_______ _______
Shareholders funds 1,217,810 894,785
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
Mr M Boyden
Director
Company registration number: 05497978
BELLAGIO STONE LIMITED
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Heathcote Way, Heathcote Industrial Estate, Warwick, Warwickshire, CV34 6TE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 1 % straight line
Plant and machinery - 10 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 62 (2022: 52 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2022 1,725,415 1,672,120 59,783 231,936 3,689,254
Additions 10,842 29,740 1,412 103,675 145,669
Disposals - - - ( 41,146) ( 41,146)
_______ _______ _______ _______ _______
At 31 March 2023 1,736,257 1,701,860 61,195 294,465 3,793,777
_______ _______ _______ _______ _______
Depreciation
At 1 April 2022 79,538 759,299 51,460 104,499 994,796
Charge for the year 17,274 150,908 6,031 67,809 242,022
Disposals - - - ( 41,146) ( 41,146)
_______ _______ _______ _______ _______
At 31 March 2023 96,812 910,207 57,491 131,162 1,195,672
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2023 1,639,445 791,653 3,704 163,303 2,598,105
_______ _______ _______ _______ _______
At 31 March 2022 1,645,877 912,821 8,323 127,437 2,694,458
_______ _______ _______ _______ _______
6. Debtors
31/03/23 31/03/22
£ £
Trade debtors 1,345,872 1,289,789
Other debtors 198,090 218,993
_______ _______
1,543,962 1,508,782
_______ _______
7. Creditors: amounts falling due within one year
31/03/23 31/03/22
£ £
Bank loans and overdrafts 680,121 449,520
Trade creditors 778,113 1,206,283
Corporation tax 101,378 -
Social security and other taxes 59,364 46,514
Other creditors 262,092 229,915
_______ _______
1,881,068 1,932,232
_______ _______
Bank loans and overdrafts includes an invoice discounting loan of £553,307 (2022:£342,063) and bank loans due for repayment within one year of £126,814 (2022:£107,457). The company has an invoice discounting facility with its bankers that provides for an advancement of the company's trade debtors. Drawdown up to a maximum of 80% of approved debtors is permitted subject to a cap of £850,000. Interest on the discounting loan is charged at 2% over bank base rate. Bank loans are secured by a first legal charge over the company's freehold premises.
8. Creditors: amounts falling due after more than one year
31/03/23 31/03/22
£ £
Bank loans and overdrafts 1,065,399 1,211,571
Other creditors 269,924 475,931
_______ _______
1,335,323 1,687,502
_______ _______
Bank loans due after more than one year are secured on the company's freehold premises.
Included within creditors amounts falling due after more than one year is an amount of £704,808 (2022 :£848,413) in respect of liabilities payable by instalments which fall due for payment more than five years from the reporting date.
9. Directors advances, credits and guarantees
As at 31 March 2023 the company owed one of its directors, R Wilkinson,an amount of £10,811.
10. Related party transactions
Durng the period the year made purchases on an arms length basis from Marble Ideas Lmited, a company which is also a subsidary of Bellagio Marble Ideas Limited. These purchases totalled £1,680,357 and as at 31 March 2023 the company owed £77,835 to Marble Ideas Limited.
11. Controlling party
The ultimate parent company is Bellagio Marble Ideas Limited (company number:13646733). Thecompany is controlled by R Wilkinson, who is a director and shareholder of Bellagio Marble IdeasLimited.