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REGISTERED NUMBER: 04646307 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024

FOR

GLEBE STONE SALES LIMITED

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLEBE STONE SALES LIMITED

COMPANY INFORMATION
for the Year Ended 31st May 2024







DIRECTORS: T Smith
A M Smith





SECRETARY: T Smith





REGISTERED OFFICE: Heritage Barn
13 Main Street
Upton
Newark
Nottinghamshire
NG23 5ST





REGISTERED NUMBER: 04646307 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

BALANCE SHEET
31st May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 170,556 236,358
170,556 236,358

CURRENT ASSETS
Debtors 6 55,021 92,229
Cash at bank 42,980 51,377
98,001 143,606
CREDITORS
Amounts falling due within one year 7 53,080 75,705
NET CURRENT ASSETS 44,921 67,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,477

304,259

PROVISIONS FOR LIABILITIES 8 31,927 43,857
NET ASSETS 183,550 260,402

CAPITAL AND RESERVES
Called up share capital 9 997 997
Retained earnings 182,553 259,405
SHAREHOLDERS' FUNDS 183,550 260,402

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

BALANCE SHEET - continued
31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th August 2024 and were signed on its behalf by:




T Smith - Director



A M Smith - Director


GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Glebe Stone Sales 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of fifteen years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and 10% on reducing balance
Fixtures and fittings - 50% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 150,000
AMORTISATION
At 1st June 2023
and 31st May 2024 150,000
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 -

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st June 2023 858,741 807 22,660 2,008 884,216
Additions 14,797 - - 766 15,563
At 31st May 2024 873,538 807 22,660 2,774 899,779
DEPRECIATION
At 1st June 2023 643,907 790 1,246 1,915 647,858
Charge for year 74,122 9 7,067 167 81,365
At 31st May 2024 718,029 799 8,313 2,082 729,223
NET BOOK VALUE
At 31st May 2024 155,509 8 14,347 692 170,556
At 31st May 2023 214,834 17 21,414 93 236,358

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st June 2023
and 31st May 2024 41,380
DEPRECIATION
At 1st June 2023
and 31st May 2024 24,829
NET BOOK VALUE
At 31st May 2024 16,551
At 31st May 2023 16,551

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 38,209 72,185
Other debtors 695 500
Prepayments 16,117 19,544
55,021 92,229

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Hire purchase contracts - 6,379
Trade creditors 13,837 12,213
Tax 759 14,563
Social security and other taxes - 409
VAT 3,784 3,839
Other creditors 165 187
Directors' current accounts 22,750 22,065
Accrued expenses 11,785 16,050
53,080 75,705

8. PROVISIONS FOR LIABILITIES
31/5/24 31/5/23
£    £   
Deferred tax 31,927 43,857

Deferred
tax
£   
Balance at 1st June 2023 43,857
Accelerated capital allowances (11,930 )
Balance at 31st May 2024 31,927

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
996 Ordinary £1 996 996
1 Ordinary 'A' Non-Voting £1 1 1
997 997

10. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 May 2024 or 31st May 2023.

11. CAPITAL COMMITMENTS
31/5/24 31/5/23
£    £   
Contracted but not provided for in the
financial statements - -

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2024

12. ULTIMATE CONTROLLING PARTY

Mr T Smith and his wife own 100% of the issued voting shares of the company.