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Registration number: 10471085

Stonedale Construction Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Stonedale Construction Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Stonedale Construction Limited

Balance Sheet

as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

333,818

255,054

Current assets

 

Debtors

5

238,854

720,102

Cash at bank and in hand

 

750,842

526,082

 

989,696

1,246,184

Creditors: Amounts falling due within one year

6

(796,478)

(1,067,178)

Net current assets

 

193,218

179,006

Total assets less current liabilities

 

527,036

434,060

Creditors: Amounts falling due after more than one year

6

(145,155)

(127,667)

Provisions for liabilities

(80,450)

(48,460)

Net assets

 

301,431

257,933

Capital and reserves

 

Allotted, called up and fully paid share capital

10

10

Profit and loss account

301,421

257,923

Shareholders' funds

 

301,431

257,933

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 25 July 2024 and signed on its behalf by:
 

.........................................
Mr N P West
Director

 

Stonedale Construction Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 October 2023

1

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:
Unit 1 Scandinavia Court
Chain Bar Road
Cleckheaton
West Yorkshire
BD19 3QW

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2022 - 3).

 

Stonedale Construction Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 October 2023 (continued)

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost

At 1 November 2022

6,385

120,213

196,959

323,557

Additions

6,140

101,192

126,245

233,577

Disposals

(1,022)

(40,385)

(79,400)

(120,807)

At 31 October 2023

11,503

181,020

243,804

436,327

Depreciation

At 1 November 2022

2,793

23,809

41,901

68,503

Charge for the year

1,881

27,979

47,786

77,646

Eliminated on disposal

(828)

(8,664)

(34,148)

(43,640)

At 31 October 2023

3,846

43,124

55,539

102,509

Net book value

At 31 October 2023

7,657

137,896

188,265

333,818

At 31 October 2022

3,592

96,404

155,058

255,054

5

Debtors

Current

2023
£

2022
£

Trade debtors

116,676

136,641

Prepayments

122,178

568,942

Other debtors

-

14,519

 

238,854

720,102

 

Stonedale Construction Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 October 2023 (continued)

6

Creditors

2023
£

2022
£

Due within one year

 

Trade creditors

 

441,126

813,889

Loans and borrowings

81,582

66,140

Taxation and social security

 

185,506

125,710

Corporation tax liability

 

47,254

26,648

Accruals and deferred income

 

16,571

28,950

Other creditors

 

4,572

5,841

Directors loan accounts

 

19,867

-

 

796,478

1,067,178

Due after one year

 

Bank loans and overdrafts

145,155

127,667

7

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 £123,402 (2022 - £3,500).

8

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to directors
£

Repayments by directors
£

At 31 October 2023
£

Interest free loan

14,519

3,843

(18,362)

-