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REGISTERED NUMBER: 04357466 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Traditional Stone & Slate Supplies
Limited

Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Traditional Stone & Slate Supplies
Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr J N S Hunter





REGISTERED OFFICE: Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ





REGISTERED NUMBER: 04357466 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 12,016 13,364
Tangible assets 5 484,577 487,239
496,593 500,603

CURRENT ASSETS
Stocks 6 654,052 666,583
Debtors 7 169,118 230,269
Cash at bank 337,926 309,546
1,161,096 1,206,398
CREDITORS
Amounts falling due within one year 8 503,127 441,846
NET CURRENT ASSETS 657,969 764,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,154,562

1,265,155

CREDITORS
Amounts falling due after more than one
year

9

(15,779

)

(28,214

)

PROVISIONS FOR LIABILITIES (82,668 ) (96,596 )
NET ASSETS 1,056,115 1,140,345

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 13 19,200 19,200
Retained earnings 1,036,815 1,121,045
SHAREHOLDERS' FUNDS 1,056,115 1,140,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 31 July 2024 and were signed by:





Mr J N S Hunter - Director


Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Traditional Stone & Slate Supplies 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

At each reporting date the company assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property improvements- 10% on cost
Plant and machinery- 20% reducing balance
Fixtures and fittings- 25% reducing balance
Motor vehicles- 25% reducing balance

Stocks
Stocks 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 balance sheet date.


Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 June 2023
and 31 May 2024 13,476
AMORTISATION
At 1 June 2023 112
Amortisation for year 1,348
At 31 May 2024 1,460
NET BOOK VALUE
At 31 May 2024 12,016
At 31 May 2023 13,364

Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Property Plant and and Motor
improvements machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 June 2023 310,919 684,876 16,523 374,393 1,386,711
Additions 6,146 98,160 3,212 12,225 119,743
Disposals - (5,455 ) (1,310 ) - (6,765 )
At 31 May 2024 317,065 777,581 18,425 386,618 1,499,689
DEPRECIATION
At 1 June 2023 196,700 415,858 9,424 277,490 899,472
Charge for year 31,394 59,587 2,135 26,263 119,379
Eliminated on disposal - (3,063 ) (676 ) - (3,739 )
At 31 May 2024 228,094 472,382 10,883 303,753 1,015,112
NET BOOK VALUE
At 31 May 2024 88,971 305,199 7,542 82,865 484,577
At 31 May 2023 114,219 269,018 7,099 96,903 487,239

At the balance sheet date, included within the fixed assets above were assets held on hire purchase with NBV of £47,304 (2023 - £66,667). The depreciation charge on these assets were £19,363 (2023 - £22,370).

6. STOCKS
31.5.24 31.5.23
£ £
Stocks 654,052 666,583

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade debtors 109,633 185,954
Other debtors 59,485 44,315
169,118 230,269

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Bank loans and overdrafts (see note 10) 10,000 10,000
Hire purchase contracts (see note 11) 2,502 25,083
Trade creditors 234,546 189,124
Taxation and social security 101,814 156,557
Other creditors 154,265 61,082
503,127 441,846

Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£ £
Bank loans (see note 10) 15,779 25,646
Hire purchase contracts (see note 11) - 2,568
15,779 28,214

10. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£ £
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,779 15,646

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£ £
Net obligations repayable:
Within one year 2,502 25,083
Between one and five years - 2,568
2,502 27,651

Non-cancellable
operating leases
31.5.24 31.5.23
£ £
Within one year 3,418 9,174
Between one and five years - 3,418
3,418 12,592

Traditional Stone & Slate Supplies
Limited (Registered number: 04357466)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£ £
Bank loans 25,779 35,646
Hire purchase contracts 2,502 27,651
28,281 63,297

13. RESERVES
Revaluation
reserve
£
At 1 June 2023
and 31 May 2024 19,200

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors: amounts due within one year is a loan from the director of £nil (2023 - £18,548). The loan is interest free and repayable on demand.

15. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J N S Hunter.