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REGISTERED NUMBER: 08539551 (England and Wales)













PENARTH STONE MASONRY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023






PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENARTH STONE MASONRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: Mr J F Denning





REGISTERED OFFICE: Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ





REGISTERED NUMBER: 08539551 (England and Wales)





ACCOUNTANTS: Davies Williams Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,794 44,765
34,794 44,765

CURRENT ASSETS
Debtors 6 34,760 36,123
Cash at bank 5,172 10,486
39,932 46,609
CREDITORS
Amounts falling due within one year 7 45,459 43,397
NET CURRENT (LIABILITIES)/ASSETS (5,527 ) 3,212
TOTAL ASSETS LESS CURRENT LIABILITIES 29,267 47,977

CREDITORS
Amounts falling due after more than one
year

8

(18,147

)

(28,355

)

PROVISIONS FOR LIABILITIES 9 (6,611 ) (8,505 )
NET ASSETS 4,509 11,117

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,409 11,017
SHAREHOLDERS' FUNDS 4,509 11,117

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

BALANCE SHEET - continued
31ST MAY 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th February 2024 and were signed by:





Mr J F Denning - Director


PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. STATUTORY INFORMATION

Penarth Stone Masonry Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% straight line on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022
and 31st May 2023 30,000
AMORTISATION
At 1st June 2022
and 31st May 2023 30,000
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st June 2022 63,452 73,087 1,583 138,122
Additions - 9,000 - 9,000
Disposals - (26,331 ) - (26,331 )
At 31st May 2023 63,452 55,756 1,583 120,791
DEPRECIATION
At 1st June 2022 41,879 50,244 1,234 93,357
Charge for year 8,578 6,022 150 14,750
Eliminated on disposal - (22,110 ) - (22,110 )
At 31st May 2023 50,457 34,156 1,384 85,997
NET BOOK VALUE
At 31st May 2023 12,995 21,600 199 34,794
At 31st May 2022 21,573 22,843 349 44,765

PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 2,469
Other debtors 34,760 33,654
34,760 36,123

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,764 7,589
Trade creditors 7,179 7,184
Taxation and social security 21,394 20,078
Other creditors 9,122 8,546
45,459 43,397

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,147 26,086
Other creditors - 2,269
18,147 28,355

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,611 8,505

Deferred
tax
£   
Balance at 1st June 2022 8,505
Provided during year (1,894 )
Balance at 31st May 2023 6,611

PENARTH STONE MASONRY LIMITED (REGISTERED NUMBER: 08539551)

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


10. DIRECTORS' TRANSACTIONS

The following advances and credits to a director subsisted during the years ended 31st May 2023 and 31st May 2022:

2023 2022
£    £   
Mr J F Denning
Balance outstanding at start of year 33,523 40,795
Amounts advanced 33,732 39,332
Amounts repaid (32,740 ) (46,604 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,515 33,523