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REGISTERED NUMBER: 02680267 (England and Wales)









Financial Statements

for the Year Ended 30 April 2023

for

Stonewoods Limited

Stonewoods Limited (Registered number: 02680267)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Stonewoods Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: M Rust
A Baker





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 02680267 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Stonewoods Limited (Registered number: 02680267)

Statement of Financial Position
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 28,486 21,521

CURRENT ASSETS
Inventories 265,000 249,420
Debtors 5 142,422 131,251
Cash at bank and in hand 162,948 342,816
570,370 723,487
CREDITORS
Amounts falling due within one year 6 208,714 258,126
NET CURRENT ASSETS 361,656 465,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,142

486,882

CREDITORS
Amounts falling due after more than one
year

7

(91,200

)

(119,337

)

PROVISIONS FOR LIABILITIES (5,164 ) (3,786 )
NET ASSETS 293,778 363,759

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 293,677 363,658
SHAREHOLDERS' FUNDS 293,778 363,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:





A Baker - Director


Stonewoods Limited (Registered number: 02680267)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Stonewoods 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

Stonewoods Limited (Registered number: 02680267)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. PROPERTY, PLANT AND EQUIPMENT
Short Plant & Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2022 2,949 9,692 28,831 41,472
Additions - 11,934 - 11,934
At 30 April 2023 2,949 21,626 28,831 53,406
DEPRECIATION
At 1 May 2022 2,949 4,561 12,441 19,951
Charge for year - 2,510 2,459 4,969
At 30 April 2023 2,949 7,071 14,900 24,920
NET BOOK VALUE
At 30 April 2023 - 14,555 13,931 28,486
At 30 April 2022 - 5,131 16,390 21,521

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 124,681 125,250
Tax 8,204 -
Prepayments & accrued income 8,268 4,732
141,153 129,982

Amounts falling due after more than one year:
Rent deposit 1,269 1,269

Aggregate amounts 142,422 131,251

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 28,140 27,894
Hire purchase contracts - 589
Trade creditors 71,188 71,562
Tax - 35,119
Social security & other taxes 23,611 23,064
Value added tax 12,547 14,411
Other creditors 46,189 46,044
Directors' current accounts 23,139 36,243
Accruals & deferred income 3,900 3,200
208,714 258,126

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 76,061 86,031
Bank loans more 5 yr by instal 15,139 33,306
91,200 119,337

Stonewoods Limited (Registered number: 02680267)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,139 33,306