Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31truetrue2022-11-01falsearable farming22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04556673 2022-11-01 2023-10-31 04556673 2021-11-01 2022-10-31 04556673 2023-10-31 04556673 2022-10-31 04556673 c:Director1 2022-11-01 2023-10-31 04556673 d:Buildings 2022-11-01 2023-10-31 04556673 d:Buildings 2023-10-31 04556673 d:Buildings 2022-10-31 04556673 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04556673 d:PlantMachinery 2022-11-01 2023-10-31 04556673 d:PlantMachinery 2023-10-31 04556673 d:PlantMachinery 2022-10-31 04556673 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04556673 d:MotorVehicles 2022-11-01 2023-10-31 04556673 d:MotorVehicles 2023-10-31 04556673 d:MotorVehicles 2022-10-31 04556673 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04556673 d:OfficeEquipment 2022-11-01 2023-10-31 04556673 d:OfficeEquipment 2023-10-31 04556673 d:OfficeEquipment 2022-10-31 04556673 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04556673 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04556673 d:CurrentFinancialInstruments 2023-10-31 04556673 d:CurrentFinancialInstruments 2022-10-31 04556673 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 04556673 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 04556673 d:ShareCapital 2023-10-31 04556673 d:ShareCapital 2022-10-31 04556673 d:RetainedEarningsAccumulatedLosses 2023-10-31 04556673 d:RetainedEarningsAccumulatedLosses 2022-10-31 04556673 c:OrdinaryShareClass1 2022-11-01 2023-10-31 04556673 c:OrdinaryShareClass1 2023-10-31 04556673 c:OrdinaryShareClass2 2022-11-01 2023-10-31 04556673 c:OrdinaryShareClass2 2023-10-31 04556673 c:OrdinaryShareClass3 2022-11-01 2023-10-31 04556673 c:OrdinaryShareClass3 2023-10-31 04556673 c:FRS102 2022-11-01 2023-10-31 04556673 c:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 04556673 c:FullAccounts 2022-11-01 2023-10-31 04556673 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04556673 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-01 2023-10-31 04556673 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-31 04556673 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-31 04556673 2 2022-11-01 2023-10-31 04556673 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04556673










R E STONE & SONS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
R E STONE & SONS LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 7


 
R E STONE & SONS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF R E STONE & SONS LTD
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R E Stone & Sons Ltd for the year ended 31 October 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of R E Stone & Sons Ltd, as a body, in accordance with the terms of our engagement letter dated 01 July 2022Our work has been undertaken solely to prepare for your approval the financial statements of R E Stone & Sons Ltd and state those matters that we have agreed to state to the Board of Directors of R E Stone & Sons Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R E Stone & Sons Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that R E Stone & Sons Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R E Stone & Sons Ltd. You consider that R E Stone & Sons Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of R E Stone & Sons Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
26 July 2024
Page 1

 
R E STONE & SONS LTD
REGISTERED NUMBER: 04556673

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
57,529
56,761

  
57,529
56,761

Current assets
  

Stocks
  
2,342
81,947

Debtors: amounts falling due within one year
 5 
50,793
13,581

Cash at bank and in hand
  
602,642
502,240

  
655,777
597,768

Creditors: amounts falling due within one year
 6 
(140,166)
(128,026)

Net current assets
  
 
 
515,611
 
 
469,742

Total assets less current liabilities
  
573,140
526,503

Provisions for liabilities
  

Deferred tax
  
(13,776)
(14,118)

  
 
 
(13,776)
 
 
(14,118)

Net assets
  
559,364
512,385


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
559,164
512,185

  
559,364
512,385


Page 2

 
R E STONE & SONS LTD
REGISTERED NUMBER: 04556673
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2024.




Mr K E Stone
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
R E STONE & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The company is a private United Kingdom company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.  The trading address is Lower Stow Bedon, Norfolk.
The company's principle activity is that of arable farming. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but 
not reversed by the balance sheet date. 
Current and deferred tax is determined using tax rates and laws that have been enacted or 
substantively enacted by the balance sheet date. 

Page 4

 
R E STONE & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.  Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.


Buildings
-
15%
Reducing balance
Plant and equipment
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.  Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in profit or loss.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
R E STONE & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Buildings
Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
7,454
315,814
18,500
689
342,457


Additions
-
23,737
-
383
24,120


Disposals
-
(80,260)
-
(368)
(80,628)



At 31 October 2023

7,454
259,291
18,500
704
285,949



Depreciation


At 1 November 2022
7,165
269,833
8,094
605
285,697


Charge for the year on owned assets
43
8,673
2,602
109
11,427


Disposals
-
(68,363)
-
(341)
(68,704)



At 31 October 2023

7,208
210,143
10,696
373
228,420



Net book value



At 31 October 2023
246
49,148
7,804
331
57,529



At 31 October 2022
289
45,981
10,406
85
56,761

Page 6

 
R E STONE & SONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
36,792
1,924

Other debtors
9,330
10,251

Prepayments and accrued income
4,671
1,406

50,793
13,581



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
906
372

Other taxation and social security
32,048
13,004

Other creditors
107,212
114,650

140,166
128,026



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares shares of £1.00 each
100
100
55 "A" Ordinary shares shares of £1.00 each
55
55
45 "B" Ordinary shares shares of £1.00 each
45
45

200

200



8.


Related party transactions

As at  31 October 2023 the company owed the directors £ 99,533 (2022: £ 104,792), as included within other creditors in note 6 to the financial statements.  The loan is interest free and repayable on demand.

Page 7