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Registration number: 13627056

Stone Alliance Ltd

Annual Report and Financial Statements

for the Year Ended 31 January 2024

 

Stone Alliance Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Stone Alliance Ltd

(Registration number: 13627056)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

90

90

Current assets

 

Debtors

5

1,092,024

10

Creditors: Amounts falling due within one year

6

(1,092,014)

-

Net current assets

 

10

10

Net assets

 

100

100

Capital and reserves

 

Called up share capital

100

100

Shareholders' funds

 

100

100

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

Mr J Dowdall
Director

   
     
 

Stone Alliance Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5C Castle Road
Chelston Business Park
Wellington
Somerset
TA21 9JQ

These financial statements were authorised for issue by the Board on 30 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Summary of disclosure exemptions

The company has taken advantage of the disclosure exemption given by Financial Reporting Standard 102 1A to not disclose transactions with with its wholly owned subsidiary.

Group accounts not prepared

The company has taken advanatage of the exemption from having to prepare consoldiated financial statements due to it being the parent of a small group.

Going concern

The financial statements have been prepared on a going concern basis.

 

Stone Alliance Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 October 2024 was Mr Robert Cadwallader, who signed for and on behalf of Milsted Langdon LLP.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Stone Alliance Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

90

90

Subsidiaries

£

Cost or valuation

At 1 February 2023

90

Carrying amount

At 31 January 2024

90

At 31 January 2023

90

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Mayflowerstone Limited

C/O Mayflower Kitchens Ltd, 5 Chelston Business Park, Castle Road, Wellington, Somerset, TA21 9JQ

England

B Ordinary shares

100%

100%

Subsidiary undertakings

Mayflowerstone Limited

The principal activity of Mayflowerstone Limited is the production and fitting of stone worktops. The loss for the financial period of Mayflowerstone Limited was £141,904 and the aggregate amount of Capital and reserves at the end of the period was £1,608,135.

 

Stone Alliance Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Debtors

2024
£

2023
£

Other debtors

1,092,024

10

1,092,024

10

6

Creditors

Due within one year

Note

2024
£

2023
£

 

Amounts due to related parties

7

1,092,014

-

7

Related party transactions

Summary of transactions with other related parties

Employee ownership
 On 23 May 2023 the issued share capital of the company was acquired by the Stone Alliance Employee Ownership Trust ("the Trust"). The Trust holds shares for the future benefit of the group's employees.
 The aquisition included a deferred consideration of £7,164,287 for which the Trust has issued loan notes. The company will, in due course, make gifts to the Trust as required to enable the Trust to periodically redeem the loan notes. At the balance sheet date the deferred consideration payable by the Trust was £6,734,406. At the balance sheet date, the amount owed to the company by the Trust was £1,092,014.
 

8

Parent and ultimate parent undertaking

Prior to 23 May 2023, the company's immediate parent was Mayflower Group Limited, a company incorporated in England and Wales. On 23 May 2023 the issued share capital of the company was aquired by the Stone Alliance Employee Ownership Trust, as described above.