Registered number
02004367
Stoneway Contracting Co. Limited
Filleted Accounts
31 March 2024
Stoneway Contracting Co. Limited
Registered number: 02004367
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 222,843 223,370
Current assets
Stocks 486 463
Debtors 4 92,326 46,092
Cash at bank and in hand 137,687 227,359
230,499 273,914
Creditors: amounts falling due within one year 5 (150,855) (199,416)
Net current assets 79,644 74,498
Total assets less current liabilities 302,487 297,868
Provisions for liabilities (291) (391)
Net assets 302,196 297,477
Capital and reserves
Called up share capital 100 100
Profit and loss account 302,096 297,377
Shareholders' funds 302,196 297,477
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 members have 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.
A. Pitts
Director
Approved by the board on 12 August 2024
Stoneway Contracting Co. Limited
Notes to the Accounts
for the year ended 31 March 2024
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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment 25% on reducing balance pa
Motor vehicles 25% on reducing balance pa
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 221,310 27,689 17,462 266,461
At 31 March 2024 221,310 27,689 17,462 266,461
Depreciation
At 1 April 2023 - 26,442 16,649 43,091
Charge for the year - 323 204 527
At 31 March 2024 - 26,765 16,853 43,618
Net book value
At 31 March 2024 221,310 924 609 222,843
At 31 March 2023 221,310 1,247 813 223,370
4 Debtors 2024 2023
£ £
Trade debtors 92,070 45,738
Other debtors 256 354
92,326 46,092
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,327 24,525
Corporation tax 8,245 12,442
Other taxes and social security costs 19,536 (215)
Other creditors 105,747 162,664
150,855 199,416
6 Contingent liabilities
There were no contingent liabilities at 31st March 2024 or 31st March 2023.
7 Related party transactions
A. Pitts, the director, has made unsecured interest free loans to the company.
8 Controlling party
The ultimate controlling party is the director A Pitts.
9 Other information
Stoneway Contracting Co. Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Sudley Terrace
High Street
Bognor Regis
West Sussex
PO21 1EY
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