REGISTERED NUMBER: 07408859 (England and Wales) |
Report of the Director and |
Unaudited |
Consolidated Financial Statements |
for the Year Ended 31 December 2022 |
for |
Krest Stone Limited |
REGISTERED NUMBER: 07408859 (England and Wales) |
Report of the Director and |
Unaudited |
Consolidated Financial Statements |
for the Year Ended 31 December 2022 |
for |
Krest Stone Limited |
Krest Stone Limited (Registered number: 07408859) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Consolidated Income Statement | 3 |
Consolidated Balance Sheet | 4 |
Company Balance Sheet | 6 |
Notes to the Consolidated Financial Statements | 8 |
Krest Stone Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unitec House |
2 Albert Place |
London |
N3 1QB |
Krest Stone Limited (Registered number: 07408859) |
Report of the Director |
for the Year Ended 31 December 2022 |
The director presents his report with the financial statements of the company and the group for the year ended 31 December 2022. |
DIRECTORS |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Krest Stone Limited (Registered number: 07408859) |
Consolidated Income Statement |
for the Year Ended 31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
TURNOVER | 61,186 | 197,323 |
Cost of sales | 40,109 | 57,612 |
GROSS PROFIT | 21,077 | 139,711 |
Administrative expenses | 213,855 | 229,046 |
OPERATING LOSS | 4 | (192,778 | ) | (89,335 | ) |
Profit/loss on sale of invest | 5 | - | 70,072 |
(192,778 | ) | (159,407 | ) |
Interest receivable and similar income | - | 34,873 |
(192,778 | ) | (124,534 | ) |
Interest payable and similar expenses | (2,135 | ) | 2,437 |
LOSS BEFORE TAXATION | (190,643 | ) | (126,971 | ) |
Tax on loss | (16,861 | ) | (5,138 | ) |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Loss attributable to: |
Owners of the parent | (173,782 | ) | (121,833 | ) |
Krest Stone Limited (Registered number: 07408859) |
Consolidated Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 | 3,546,356 | 3,574,121 |
Investments | 8 | - | - |
3,546,356 | 3,574,121 |
CURRENT ASSETS |
Debtors | 9 | 519,609 | 418,154 |
Investments | 10 | 170,539 | 168,987 |
Cash at bank | 136,554 | 292,962 |
826,702 | 880,103 |
CREDITORS |
Amounts falling due within one year | 11 | 579,751 | 487,135 |
NET CURRENT ASSETS | 246,951 | 392,968 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
3,793,307 |
3,967,089 |
CAPITAL AND RESERVES |
Called up share capital | 1,764,475 | 1,764,475 |
Retained earnings | 2,028,832 | 2,202,614 |
SHAREHOLDERS' FUNDS | 3,793,307 | 3,967,089 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges his responsibilities for: |
(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group. |
Krest Stone Limited (Registered number: 07408859) |
Consolidated Balance Sheet - continued |
31 December 2022 |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the director and authorised for issue on 30 November 2023 and were signed by: |
M Trape Viladomat - Director |
Krest Stone Limited (Registered number: 07408859) |
Company Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
Company's loss for the financial year | (18,524 | ) | (1,390 | ) |
The director acknowledges his 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. |
Krest Stone Limited (Registered number: 07408859) |
Company Balance Sheet - continued |
31 December 2022 |
The financial statements were approved by the director and authorised for issue on |
Krest Stone Limited (Registered number: 07408859) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Krest Stone Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date. |
Krest Stone Limited (Registered number: 07408859) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The average number of employees by undertakings that were proportionately consolidated during the year was 14 (2021 - 14 ) . |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
31.12.22 | 31.12.21 |
£ | £ |
Depreciation - owned assets | 49,520 | 66,526 |
5. | EXCEPTIONAL ITEMS |
31.12.22 | 31.12.21 |
£ | £ |
Profit/loss on sale of invest | - | (70,072 | ) |
6. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
Krest Stone Limited (Registered number: 07408859) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2022 |
7. | TANGIBLE FIXED ASSETS |
Group |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2022 | 2,906,683 | 886,655 | 3,793,338 |
Additions | - | 21,755 | 21,755 |
At 31 December 2022 | 2,906,683 | 908,410 | 3,815,093 |
DEPRECIATION |
At 1 January 2022 | 82,449 | 136,768 | 219,217 |
Charge for year | 22,193 | 27,327 | 49,520 |
At 31 December 2022 | 104,642 | 164,095 | 268,737 |
NET BOOK VALUE |
At 31 December 2022 | 2,802,041 | 744,315 | 3,546,356 |
At 31 December 2021 | 2,824,234 | 749,887 | 3,574,121 |
Company |
Land and |
buildings |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Krest Stone Limited (Registered number: 07408859) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2022 |
8. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakin |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiary |
Registered office: Unitec House 2 Albert Place London N3 1QB |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
Loss for the year | ( |
) | ( |
) |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.22 | 31.12.21 | 31.12.22 | 31.12.21 |
£ | £ | £ | £ |
Trade debtors | 108,267 | 70,406 |
Amounts owed by group undertakings | - | - |
Amounts owed by associates | 317,775 | 274,103 |
Other debtors | 93,567 | 73,645 |
519,609 | 418,154 |
Krest Stone Limited (Registered number: 07408859) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2022 |
10. | CURRENT ASSET INVESTMENTS |
Group |
31.12.22 | 31.12.21 |
£ | £ |
Unlisted investments | 170,539 | 168,987 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.22 | 31.12.21 | 31.12.22 | 31.12.21 |
£ | £ | £ | £ |
Trade creditors | 1,098 | 1,573 |
Taxation and social security | 3,598 | 4,258 |
Other creditors | 575,055 | 481,304 |
579,751 | 487,135 |