62
31/03/2023
2023-03-31
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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.