Registered number
09312422
Stone Cross Services (Midlands) Ltd
Filleted Accounts
30 November 2023
Stone Cross Services (Midlands) Ltd
Registered number: 09312422
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 145,231 72,013
Current assets
Debtors 4 158,767 137,866
Cash at bank and in hand 71,754 37,562
230,521 175,428
Creditors: amounts falling due within one year 5 (147,850) (128,325)
Net current assets 82,671 47,103
Total assets less current liabilities 227,902 119,116
Creditors: amounts falling due after more than one year 6 (5,681) (4,700)
Provisions for liabilities (30,940) (13,230)
Net assets 191,281 101,186
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 190,281 100,186
Shareholder's funds 191,281 101,186
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
W Cowley
Director
Approved by the board on 30 August 2024 and signed on its behalf
Stone Cross Services (Midlands) Ltd
Notes to the Accounts
for the year ended 30 November 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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 62,089 55,015 117,104
Additions 20,860 98,753 119,613
Disposals - (14,700) (14,700)
At 30 November 2023 82,949 139,068 222,017
Depreciation
At 1 December 2022 29,991 15,100 45,091
Charge for the year 12,392 26,432 38,824
On disposals - (7,129) (7,129)
At 30 November 2023 42,383 34,403 76,786
Net book value
At 30 November 2023 40,566 104,665 145,231
At 30 November 2022 32,098 39,915 72,013
4 Debtors 2023 2022
£ £
Trade debtors 59,648 66,679
Other debtors 99,119 71,187
158,767 137,866
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,015 2,350
Trade creditors - 6,380
Amounts owed to group undertakings and undertakings in which the company has a participating interest 63,949 41,449
Taxation and social security costs 42,039 55,539
Other creditors 36,847 22,607
147,850 128,325
Of the creditors falling due within and after more than one year, the net obligations under finance leases and hire purchase contracts totalling £10,696 (2022 - £7,050) are secured on the assets concerned.
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,681 4,700
7 Controlling party
The company is controlled by its director.
8 Other information
Stone Cross Services (Midlands) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Pitchers Rest
Dog Lane
Upton Warren
Bromsgrove
B61 9HB
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