Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31false112023-09-01falseNo description of principal activity9trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12785132 2023-09-01 2024-08-31 12785132 2022-09-01 2023-08-31 12785132 2024-08-31 12785132 2023-08-31 12785132 c:Director1 2023-09-01 2024-08-31 12785132 d:PlantMachinery 2023-09-01 2024-08-31 12785132 d:PlantMachinery 2024-08-31 12785132 d:PlantMachinery 2023-08-31 12785132 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12785132 d:MotorVehicles 2023-09-01 2024-08-31 12785132 d:MotorVehicles 2024-08-31 12785132 d:MotorVehicles 2023-08-31 12785132 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12785132 d:OfficeEquipment 2023-09-01 2024-08-31 12785132 d:OfficeEquipment 2024-08-31 12785132 d:OfficeEquipment 2023-08-31 12785132 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12785132 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12785132 d:CurrentFinancialInstruments 2024-08-31 12785132 d:CurrentFinancialInstruments 2023-08-31 12785132 d:Non-currentFinancialInstruments 2024-08-31 12785132 d:Non-currentFinancialInstruments 2023-08-31 12785132 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12785132 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12785132 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 12785132 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12785132 d:ShareCapital 2024-08-31 12785132 d:ShareCapital 2023-08-31 12785132 d:RetainedEarningsAccumulatedLosses 2024-08-31 12785132 d:RetainedEarningsAccumulatedLosses 2023-08-31 12785132 c:FRS102 2023-09-01 2024-08-31 12785132 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12785132 c:FullAccounts 2023-09-01 2024-08-31 12785132 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12785132 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 12785132 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 12785132 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 12785132 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 12785132 2 2023-09-01 2024-08-31 12785132 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 12785132









THE STONE AND FUEL COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
THE STONE AND FUEL COMPANY LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE STONE AND FUEL COMPANY LIMITED
FOR THE YEAR ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of THE STONE AND FUEL COMPANY LIMITED for the year ended 31 August 2024 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the director of THE STONE AND FUEL COMPANY LIMITED in accordance with the terms of our engagement letter dated 24 May 2022Our work has been undertaken solely to prepare for your approval the financial statements of THE STONE AND FUEL COMPANY LIMITED and state those matters that we have agreed to state to the director of THE STONE AND FUEL COMPANY LIMITED in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than THE STONE AND FUEL COMPANY LIMITED and its director for our work or for this report. 

It is your duty to ensure that THE STONE AND FUEL COMPANY 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 profit of THE STONE AND FUEL COMPANY LIMITED. You consider that THE STONE AND FUEL COMPANY LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of THE STONE AND FUEL COMPANY 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.

  



The Woodstock Accountancy Practice Limited
3a Market Place
Woodstock
OX20 1SY
29 October 2024
Page 1

 
THE STONE AND FUEL COMPANY LIMITED
REGISTERED NUMBER: 12785132

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
514,496
406,875

  
514,496
406,875

Current assets
  

Stocks
 5 
915,132
848,284

Debtors: amounts falling due within one year
 6 
928,259
1,023,722

Cash at bank and in hand
 7 
709,298
515,665

  
2,552,689
2,387,671

Creditors: amounts falling due within one year
 8 
(1,103,980)
(1,031,506)

Net current assets
  
 
 
1,448,709
 
 
1,356,165

Total assets less current liabilities
  
1,963,205
1,763,040

Creditors: amounts falling due after more than one year
 9 
(45,199)
(86,409)

  

Net assets
  
1,918,006
1,676,631


Capital and reserves
  

Called up share capital 
  
600
600

Profit and loss account
  
1,917,406
1,676,031

  
1,918,006
1,676,631


Page 2

 
THE STONE AND FUEL COMPANY LIMITED
REGISTERED NUMBER: 12785132
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 October 2024.




J Bagnall
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
THE STONE AND FUEL COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The Stone and Fuel Company Limited, Company Registration: 12785132. A private limited company limited by shares incorporated in England and Wales.
Registered office address: The Freight Terminal, Bicester Road, Enstone, Chipping Norton, OX7 4NP.
The principal activity of the company is that of import and distribution of fuels, timber and building materials.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
THE STONE AND FUEL COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
THE STONE AND FUEL COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing
Motor vehicles
-
25%
Reducing
Office equipment
-
25%
Reducing

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
THE STONE AND FUEL COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 9).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2023
423,423
225,721
1,880
651,024


Additions
249,652
40,394
734
290,780


Disposals
-
(27,625)
-
(27,625)



At 31 August 2024

673,075
238,490
2,614
914,179



Depreciation


At 1 September 2023
166,381
76,980
788
244,149


Charge for the year on owned assets
126,678
46,313
456
173,447


Disposals
-
(17,913)
-
(17,913)



At 31 August 2024

293,059
105,380
1,244
399,683



Net book value



At 31 August 2024
380,016
133,110
1,370
514,496



At 31 August 2023
257,042
148,741
1,092
406,875


5.


Stocks

2024
2023
£
£

Raw materials and consumables
915,132
848,284

915,132
848,284


Page 7

 
THE STONE AND FUEL COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
874,382
912,097

Other debtors
4,418
206

Prepayments and accrued income
49,459
111,419

928,259
1,023,722



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
709,298
515,665

709,298
515,665



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
591,450
529,951

Corporation tax
55,771
121,345

Other taxation and social security
6,645
10,383

Obligations under finance lease and hire purchase contracts
41,340
45,187

Other creditors
285,814
293,546

Accruals and deferred income
122,960
31,094

1,103,980
1,031,506



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
45,199
86,409

45,199
86,409


Page 8

 
THE STONE AND FUEL COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
41,340
45,187

Between 1-5 years
45,199
86,409

86,539
131,596


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. 
The pension cost charge represents contributions payable by the Company to the fund and amounted to  £65,851 (2023; £4,430). 
Contributions totalling £1,298 (2023; £737) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

The director of the company, J Bagnall, had advanced funds to the company, interest free and unsecured. Details of the balance are set out below and disclosed with Other Creditors; Amounts falling due within one year.
The father of the director of the company, Jonathan Bagnall, had advanced funds to the company, interest free and unsecured. Details of the balance are set out below and disclosed with Other Creditors; Amounts falling due within one year.


2024
2023
£
£

J Bagnall
918
5,870
Jonathan Bagnall
283,172
283,172
284,090
289,042

 
Page 9