Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mrs Clare Whitham 28/08/2018 Mr Ian Whitham 22/05/2007 18 February 2024 The principal activity of the company continued to be that of a specialised haulier. 06249204 2023-05-31 06249204 bus:Director1 2023-05-31 06249204 bus:Director2 2023-05-31 06249204 2022-05-31 06249204 core:CurrentFinancialInstruments 2023-05-31 06249204 core:CurrentFinancialInstruments 2022-05-31 06249204 core:ShareCapital 2023-05-31 06249204 core:ShareCapital 2022-05-31 06249204 core:RetainedEarningsAccumulatedLosses 2023-05-31 06249204 core:RetainedEarningsAccumulatedLosses 2022-05-31 06249204 core:LandBuildings 2022-05-31 06249204 core:PlantMachinery 2022-05-31 06249204 core:Vehicles 2022-05-31 06249204 core:LandBuildings 2023-05-31 06249204 core:PlantMachinery 2023-05-31 06249204 core:Vehicles 2023-05-31 06249204 2022-06-01 2023-05-31 06249204 bus:FullAccounts 2022-06-01 2023-05-31 06249204 bus:SmallEntities 2022-06-01 2023-05-31 06249204 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 06249204 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06249204 bus:Director1 2022-06-01 2023-05-31 06249204 bus:Director2 2022-06-01 2023-05-31 06249204 core:LandBuildings core:TopRangeValue 2022-06-01 2023-05-31 06249204 core:PlantMachinery core:BottomRangeValue 2022-06-01 2023-05-31 06249204 core:PlantMachinery core:TopRangeValue 2022-06-01 2023-05-31 06249204 core:Vehicles 2022-06-01 2023-05-31 06249204 2021-06-01 2022-05-31 06249204 core:LandBuildings 2022-06-01 2023-05-31 06249204 core:PlantMachinery 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 06249204 (England and Wales)

DUNSTONE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

DUNSTONE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

DUNSTONE LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
DUNSTONE LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
DIRECTORS Mrs Clare Whitham
Mr Ian Whitham
SECRETARY Mrs Clare Whitham
REGISTERED OFFICE 7 Ridge Road
Todmorden
Lancashire
OL14 7AX
United Kingdom
COMPANY NUMBER 06249204 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
DUNSTONE LTD

BALANCE SHEET

AS AT 31 MAY 2023
DUNSTONE LTD

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 67,922 77,417
67,922 77,417
Current assets
Debtors 4 329,876 315,007
Cash at bank and in hand 33,221 35,000
363,097 350,007
Creditors: amounts falling due within one year 5 ( 232,646) ( 255,807)
Net current assets 130,451 94,200
Total assets less current liabilities 198,373 171,617
Provision for liabilities ( 10,358) ( 11,995)
Net assets 188,015 159,622
Capital and reserves
Called-up share capital 100 100
Profit and loss account 187,915 159,522
Total shareholders' funds 188,015 159,622

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dunstone Ltd (registered number: 06249204) were approved and authorised for issue by the Board of Directors on 18 February 2024. They were signed on its behalf by:

Mrs Clare Whitham
Director
DUNSTONE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
DUNSTONE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dunstone Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7 Ridge Road, Todmorden, Lancashire, OL14 7AX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 4 - 10 years straight line
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 16

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 June 2022 40,931 10,811 119,965 171,707
Additions 0 332 0 332
At 31 May 2023 40,931 11,144 119,965 172,040
Accumulated depreciation
At 01 June 2022 11,256 10,673 72,361 94,290
Charge for the financial year 4,093 155 5,580 9,829
At 31 May 2023 15,349 10,828 77,941 104,118
Net book value
At 31 May 2023 25,582 316 42,024 67,922
At 31 May 2022 29,675 138 47,604 77,417

4. Debtors

2023 2022
£ £
Trade debtors 328,876 314,007
Other debtors 1,000 1,000
329,876 315,007

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 1,980
Trade creditors 104,969 111,788
Corporation tax 31,222 23,331
Other taxation and social security 88,236 88,997
Other creditors 8,219 29,711
232,646 255,807

6. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 1,735,039 908,499