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COMPANY REGISTRATION NUMBER: 06851579
Stonewell Design & Build Limited
Filleted Unaudited Financial Statements
31 December 2023
Stonewell Design & Build Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Stonewell Design & Build Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
5,397
2,226
Current assets
Stocks
90,000
75,000
Debtors
6
1,784
3,998
Cash at bank and in hand
9,410
13,030
---------
--------
101,194
92,028
Creditors: amounts falling due within one year
7
( 76,370)
( 52,298)
---------
--------
Net current assets
24,824
39,730
--------
--------
Total assets less current liabilities
30,221
41,956
Creditors: amounts falling due after more than one year
8
( 14,583)
( 21,383)
Provisions
Taxation including deferred tax
( 76)
( 234)
--------
--------
Net assets
15,562
20,339
--------
--------
Stonewell Design & Build Limited
Balance Sheet (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
15,462
20,239
--------
--------
Shareholders funds
15,562
20,339
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr N J McDonald
Director
Company registration number: 06851579
Stonewell Design & Build Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Going concern
The directors acknowledge the losses during the year and with their ongoing support believe the company is a going concern.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% straight line
Motor Vehicles
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
20,221
20,988
41,209
Additions
781
3,500
4,281
Disposals
( 10,541)
( 10,541)
--------
--------
--------
At 31 December 2023
21,002
13,947
34,949
--------
--------
--------
Depreciation
At 1 January 2023
17,995
20,988
38,983
Charge for the year
1,001
109
1,110
Disposals
( 10,541)
( 10,541)
--------
--------
--------
At 31 December 2023
18,996
10,556
29,552
--------
--------
--------
Carrying amount
At 31 December 2023
2,006
3,391
5,397
--------
--------
--------
At 31 December 2022
2,226
2,226
--------
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
1,784
3,998
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,800
6,800
Trade creditors
1,435
1,364
Social security and other taxes
5,592
2,360
Other creditors
62,543
41,774
--------
--------
76,370
52,298
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,633
16,433
Other creditors
4,950
4,950
--------
--------
14,583
21,383
--------
--------
9. Directors' advances, credits and guarantees
During the year, the directors had interest free, repayable on demand loans with the company. At the start of the year the directors were owed £39,174, and at the end of the year the directors were owed £59,842.