Company registration number 10137379 (England and Wales)
Halestone Masonry Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 April 2024
PAGES FOR FILING WITH REGISTRAR
Halestone Masonry Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Halestone Masonry Ltd
Statement of financial position
as at 30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,003
8,003
Tangible assets
4
79,016
69,418
86,019
77,421
Current assets
Stocks
89,997
89,997
Debtors
75,806
44,540
Cash at bank and in hand
835
1,450
166,638
135,987
Creditors: amounts falling due within one year
(130,474)
(78,582)
Net current assets
36,164
57,405
Total assets less current liabilities
122,183
134,826
Creditors: amounts falling due after more than one year
(37,172)
(51,672)
Provisions for liabilities
5
(15,013)
(13,189)
Net assets
69,998
69,965
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
69,898
69,865
Total equity
69,998
69,965
Halestone Masonry Ltd
Statement of financial position (continued)
as at 30 April 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 4 October 2024
J N Haley
Director
Company Registration No. 10137379
Halestone Masonry Ltd
Notes to the Financial Statements
for the year ended 30 April 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised upon the provision of services.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% Reducing balance
Fixtures and fittings
15% Reducing balance
Motor vehicles
25% Reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Halestone Masonry Ltd
Notes to the Financial Statements (continued)
for the year ended 30 April 2024
1
Accounting policies
(continued)
- 4 -
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
10,003
Amortisation and impairment
At 1 May 2023
2,000
Amortisation charged for the year
1,000
At 30 April 2024
3,000
Carrying amount
At 30 April 2024
7,003
At 30 April 2023
8,003
Halestone Masonry Ltd
Notes to the Financial Statements (continued)
for the year ended 30 April 2024
- 5 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
45,105
40,804
12,954
98,863
Additions
21,500
21,500
At 30 April 2024
66,605
40,804
12,954
120,363
Depreciation and impairment
At 1 May 2023
11,040
9,592
8,813
29,445
Depreciation charged in the year
6,185
4,682
1,035
11,902
At 30 April 2024
17,225
14,274
9,848
41,347
Carrying amount
At 30 April 2024
49,380
26,530
3,106
79,016
At 30 April 2023
34,065
31,212
4,141
69,418
5
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
15,013
13,189
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
100
100
100
100
7
Company information
Halestone Masonry Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.