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REGISTERED NUMBER: 07420186 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

AFFORDABLE GRANITE SURREY LIMITED

AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4

Chartered accountants' report 9

AFFORDABLE GRANITE SURREY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mrs H C Phillips
Mr A R Phillips





REGISTERED OFFICE: Unit 5 Charlwood Place
Norwood Hill Road Charlwood
Horley
Surrey
RH6 0EB





REGISTERED NUMBER: 07420186 (England and Wales)





ACCOUNTANTS: Z group
Suite LU.231
The Light Bulb
1 Filament Walk
Wandsworth
London
SW18 4GQ

AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 257,311 295,548
Tangible assets 5 412,157 332,723
Investments 6 620 620
670,088 628,891

CURRENT ASSETS
Stocks 132,320 191,486
Debtors 7 71,400 102,957
Cash at bank 78,531 81,831
282,251 376,274
CREDITORS
Amounts falling due within one year 8 430,190 356,734
NET CURRENT (LIABILITIES)/ASSETS (147,939 ) 19,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

522,149

648,431

CREDITORS
Amounts falling due after more than one
year

9

(159,047

)

(193,593

)

PROVISIONS FOR LIABILITIES (77,541 ) (61,328 )
NET ASSETS 285,561 393,510

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 285,461 393,410
SHAREHOLDERS' FUNDS 285,561 393,510

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

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

AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

BALANCE SHEET - continued
31 JANUARY 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Mr A R Phillips - Director


AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Affordable Granite Surrey 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 AND GOING CONCERN
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 2010, is being amortised evenly over its estimated useful life of twenty 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.

Computer software is being amortised evenly over its estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 50% on cost, 25% on cost and 20% on cost

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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


AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability."

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 20 ) .

AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 739,008 6,279 745,287
AMORTISATION
At 1 February 2023 449,320 419 449,739
Charge for year 36,982 1,255 38,237
At 31 January 2024 486,302 1,674 487,976
NET BOOK VALUE
At 31 January 2024 252,706 4,605 257,311
At 31 January 2023 289,688 5,860 295,548

5. TANGIBLE FIXED ASSETS
Tenants Plant and Motor Computer
improvements machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 60,620 531,426 257,282 74,153 923,481
Additions - 191,725 - 435 192,160
At 31 January 2024 60,620 723,151 257,282 74,588 1,115,641
DEPRECIATION
At 1 February 2023 43,812 368,149 125,400 53,397 590,758
Charge for year 6,062 7,199 110,088 4,345 127,694
Eliminated on disposal - (14,968 ) - - (14,968 )
At 31 January 2024 49,874 360,380 235,488 57,742 703,484
NET BOOK VALUE
At 31 January 2024 10,746 362,771 21,794 16,846 412,157
At 31 January 2023 16,808 163,277 131,882 20,756 332,723

AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 260,379 217,719 478,098
Additions 167,800 - 167,800
At 31 January 2024 428,179 217,719 645,898
DEPRECIATION
At 1 February 2023 112,562 56,923 169,485
Charge for year - 45,061 45,061
At 31 January 2024 112,562 101,984 214,546
NET BOOK VALUE
At 31 January 2024 315,617 115,735 431,352
At 31 January 2023 147,817 160,796 308,613

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 620
NET BOOK VALUE
At 31 January 2024 620
At 31 January 2023 620

The company's investments at the Balance sheet date in the share capital of companies include the following:

Affordable Granite Ltd
Registered office: Unit 5 Charlwood Place, Norwood Hill, Charlwood, Horley, Surrey RH6 0EB
Nature of business: Dormant
%
Class of shares: holding
Ordinary £1 shares 100.00
31.1.24 31.1.23
£    £   
Aggregate capital and reserves 620 620

AFFORDABLE GRANITE SURREY LIMITED (REGISTERED NUMBER: 07420186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 50,243 57,711
Other debtors 5,719 25,234
Prepayments 15,438 20,012
71,400 102,957

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 140,681 90,912
Trade creditors 128,275 109,243
Amounts owed to group undertakings 620 620
Social security and other taxes 17,859 13,009
VAT 61,660 67,294
Other creditors 73,647 70,078
Directors' current accounts 108 158
Accruals and deferred income 7,340 5,420
430,190 356,734

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years - 18,636
Hire purchase contracts 159,047 174,957
159,047 193,593

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AFFORDABLE GRANITE SURREY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Affordable Granite Surrey Limited for the year ended 31 January 2024 which comprise the Income statement, Balance sheet, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Affordable Granite Surrey Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Affordable Granite Surrey Limited and state those matters that we have agreed to state to the Board of Directors of Affordable Granite Surrey Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Affordable Granite Surrey Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Affordable Granite Surrey Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Affordable Granite Surrey Limited. You consider that Affordable Granite Surrey Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Affordable Granite Surrey Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Z group
Suite LU.231
The Light Bulb
1 Filament Walk
Wandsworth
London
SW18 4GQ


24 July 2024