2022-12-012023-11-302023-11-30false06225682Firestone Surfacing 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Firestone Surfacing Limited

Registered Number
06225682
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Firestone Surfacing Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Evans, Graham
Francis, Christina

Company Secretary

FRANCIS, Christina

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Place of Business

181 Ilchester Road

Yeovil

BA21 3BQ


Registered Number

06225682 (England and Wales)
Firestone Surfacing Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets444,42756,449
44,42756,449
Current assets
Debtors545,31519,644
Cash at bank and on hand121,961109,473
167,276129,117
Creditors amounts falling due within one year6(83,091)(78,903)
Net current assets (liabilities)84,18550,214
Total assets less current liabilities128,612106,663
Provisions for liabilities(8,441)(10,725)
Net assets120,17195,938
Capital and reserves
Called up share capital1010
Profit and loss account120,16195,928
Shareholders' funds120,17195,938
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
Francis, Christina
Director
Registered Company No. 06225682
Firestone Surfacing Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. At the year end the goodwill has fully been written off.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery etc - 25% on reducing balance and 15% on reducing balance
2.Average number of employees
The following average number of employees includes a director.

20232022
Average number of employees during the year22
3.Intangible assets

Total

£
Cost or valuation
At 01 December 2225,000
At 30 November 2325,000
Amortisation and impairment
At 01 December 2225,000
At 30 November 2325,000
Net book value
At 30 November 23-
At 30 November 22-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 22105,640
Additions895
At 30 November 23106,535
Depreciation and impairment
At 01 December 2249,191
Charge for year12,918
Other adjustments(1)
At 30 November 2362,108
Net book value
At 30 November 2344,427
At 30 November 2256,449
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables35,0426,946
Other debtors7,66110,123
Prepayments and accrued income2,6122,575
Total45,31519,644
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7,5326,779
Amounts owed to related parties60,40664,168
Taxation and social security13,4276,915
Other creditors591-
Accrued liabilities and deferred income1,1351,041
Total83,09178,903
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.