Registration number:
Stonedale Construction Limited
for the
Year Ended 31 October 2023
Stonedale Construction Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Stonedale Construction Limited
Balance Sheet
as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Allotted, called up and fully paid share capital |
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Profit and loss account |
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Shareholders' funds |
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Registration number: 10471085
Stonedale Construction Limited
Balance Sheet
as at 31 October 2023 (continued)
For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Stonedale Construction Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 October 2023
General information |
The company is a private company limited by shares incorporated in England within the United Kingdom.
The company's registration number is 10471085.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A – ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Stonedale Construction Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 October 2023
(continued)
2 |
Accounting policies (continued) |
Contract revenue recognition
In respect of building contracts, revenue is recognised when all the following conditions are satisfied:
- The stage of completion of the contract at the end of the reporting period can be reliably measured and therefore the amount of revenue due to the company can be accurately determined;
- It is probable that the economic benefits associated with the contract will flow to the entity;
- The costs incurred on the contract to the end of the reporting period and the costs to complete the contract can be reliably measured.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% per annum on a reducing balance basis |
Motor vehicles |
25% per annum on a reducing balance basis |
Office equipment |
25% per annum on a reducing balance basis |
Stonedale Construction Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 October 2023
(continued)
2 |
Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Hire purchase agreements are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Stonedale Construction Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 October 2023
(continued)
Tangible assets |
Office equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost |
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At 1 November 2022 |
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Additions |
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Disposals |
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( |
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At 31 October 2023 |
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Depreciation |
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At 1 November 2022 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
( |
( |
At 31 October 2023 |
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Net book value |
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At 31 October 2023 |
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At 31 October 2022 |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
- |
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Stonedale Construction Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 October 2023
(continued)
Creditors |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Loans and borrowings |
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Taxation and social security |
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Corporation tax liability |
47,254 |
26,648 |
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Accruals and deferred income |
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Other creditors |
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Directors loan accounts |
19,867 |
- |
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Due after one year |
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Bank loans and overdrafts |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Transactions with directors |
2023 |
At 1 November 2022 |
Advances to directors |
Repayments by directors |
At 31 October 2023 |
Interest free loan |
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( |
- |