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Company Registration No. 04939065 (England and Wales)
Natural Stone and Timber Ltd Unaudited accounts for the year ended 31 October 2023
Natural Stone and Timber Ltd Unaudited accounts Contents
Page
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Natural Stone and Timber Ltd Company Information for the year ended 31 October 2023
Directors
Mr B E Taylor Mr B A Taylor
Secretary
B A Taylor
Company Number
04939065 (England and Wales)
Registered Office
Voyager Park North Portfield Road Portsmouth Hampshire PO3 5FX
Accountants
Babcock Tax & Accountancy Services Ltd The Florins, 8 Lulworth Close Hayling Island Hampshire PO11 0NY
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Natural Stone and Timber Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
409,749 
439,199 
Tangible assets
399,778 
501,558 
809,527 
940,757 
Current assets
Inventories
1,276,498 
1,231,194 
Debtors
254,923 
312,375 
Cash at bank and in hand
570,609 
557,778 
2,102,030 
2,101,347 
Creditors: amounts falling due within one year
(524,205)
(639,800)
Net current assets
1,577,825 
1,461,547 
Total assets less current liabilities
2,387,352 
2,402,304 
Creditors: amounts falling due after more than one year
(78,049)
(174,636)
Provisions for liabilities
Deferred tax
(73,465)
(79,570)
Net assets
2,235,838 
2,148,098 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,235,738 
2,147,998 
Shareholders' funds
2,235,838 
2,148,098 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by
Mr B E Taylor Director Company Registration No. 04939065
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Natural Stone and Timber Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Natural Stone and Timber Ltd is a private company, limited by shares, registered in England and Wales, registration number 04939065. The registered office is Voyager Park North, Portfield Road, Portsmouth, Hampshire, PO3 5FX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Short leasehold - in accordance with the property Improvements to leasehold property - in accordance with the property Plant & machinery - 10% on reducing balance Fixtures & fittings - 25% on cost Motor vehicles - 25% on reducing balance Computer equipment - 25% on cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
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 accounts. 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.
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Natural Stone and Timber Ltd Notes to the Accounts for the year ended 31 October 2023
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of twenty years.
Hire purchase and leasing committments
Assets obtained under hire purchase contracts or finance leases are capitalised. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2022
588,999 
At 31 October 2023
588,999 
Amortisation
At 1 November 2022
149,800 
Charge for the year
29,450 
At 31 October 2023
179,250 
Net book value
At 31 October 2023
409,749 
At 31 October 2022
439,199 
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Natural Stone and Timber Ltd Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 November 2022
187,954 
319,139 
741,618 
61,487 
25,256 
1,335,454 
Additions
- 
1,594 
- 
2,171 
- 
3,765 
Disposals
- 
- 
(69,784)
- 
- 
(69,784)
At 31 October 2023
187,954 
320,733 
671,834 
63,658 
25,256 
1,269,435 
Depreciation
At 1 November 2022
105,185 
151,009 
499,749 
53,265 
24,688 
833,896 
Charge for the year
9,273 
16,845 
56,623 
3,432 
368 
86,541 
On disposals
- 
- 
(50,780)
- 
- 
(50,780)
At 31 October 2023
114,458 
167,854 
505,592 
56,697 
25,056 
869,657 
Net book value
At 31 October 2023
73,496 
152,879 
166,242 
6,961 
200 
399,778 
At 31 October 2022
82,769 
168,130 
241,869 
8,222 
568 
501,558 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
217,600 
282,570 
Accrued income and prepayments
15,576 
15,055 
Other debtors
21,747 
14,750 
254,923 
312,375 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
130,607 
159,984 
Obligations under finance leases and hire purchase contracts
15,752 
15,752 
Trade creditors
165,613 
226,167 
Taxes and social security
111,991 
98,341 
Other creditors
82,361 
117,500 
Loans from directors
- 
1,424 
Accruals
17,881 
20,632 
524,205 
639,800 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
20,758 
36,510 
Other creditors
57,291 
138,126 
78,049 
174,636 
9
Controlling party
The ultimate controlling party is B E Taylor
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Natural Stone and Timber Ltd Notes to the Accounts for the year ended 31 October 2023
10
Average number of employees
During the year the average number of employees was 32 (2022: 26).
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