Registered number
10582552
STONEBLACK DEVELOPMENTS LIMITED
Unaudited Filleted Accounts
31 January 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
STONEBLACK DEVELOPMENTS LIMITED
Registered number: 10582552
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 61,863 32,739
Cash at bank and in hand 12,385 13,306
74,248 46,045
Creditors: amounts falling due within one year 4 (90,957) (65,254)
Net current liabilities (16,709) (19,209)
Net liabilities (16,709) (19,209)
Capital and reserves
Called up share capital 100 100
Profit and loss account (16,809) (19,309)
Shareholders' funds (16,709) (19,209)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sanjay Raisinghani
Director
Approved by the board on 22 August 2024
STONEBLACK DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discount. Turnover includes revenue earned from the rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 13,087 -
Other debtors 48,776 32,739
61,863 32,739
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 897 310
Other creditors 90,060 64,944
90,957 65,254
5 Related party transactions
a) Futurecourt Developments Limited
At the year end the company was owed £5,000 (2022-£5,000) by Futurecourt Developments Limited, a company in which Mr S Raisinghani is a shareholder and a Director. This amount is disclosed under other debtors in notes 3 above.
b) Stone Black Limited
At the year end the company owed £52,625 (2022 -£41,625) to Stone Black Limited a company in which both Mr S Raisinghani is a shareholder and a Director. This amount is disclosed under other creditors in notes 4 above.
c) Directors' Loan Account
At the year end the Directors' loan account was overdrawn by £46,236 (2021- £27,305 ) and this is disclosed under other debtors in note 3 above.
The loan is repayable on demand. An interest rate of 3% was charged on the amount overdrawn.
6 Controlling party
There is no untimate controlling party.
7 Other information
STONEBLACK DEVELOPMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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