Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31falsefalse2023-02-01Property development11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07898011 2023-02-01 2024-01-31 07898011 2022-02-01 2023-01-31 07898011 2024-01-31 07898011 2023-01-31 07898011 c:Director1 2023-02-01 2024-01-31 07898011 d:PlantMachinery 2023-02-01 2024-01-31 07898011 d:PlantMachinery 2024-01-31 07898011 d:PlantMachinery 2023-01-31 07898011 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07898011 d:MotorVehicles 2023-02-01 2024-01-31 07898011 d:MotorVehicles 2024-01-31 07898011 d:MotorVehicles 2023-01-31 07898011 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07898011 d:FurnitureFittings 2023-02-01 2024-01-31 07898011 d:FurnitureFittings 2024-01-31 07898011 d:FurnitureFittings 2023-01-31 07898011 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07898011 d:OfficeEquipment 2023-02-01 2024-01-31 07898011 d:OfficeEquipment 2024-01-31 07898011 d:OfficeEquipment 2023-01-31 07898011 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07898011 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07898011 d:CurrentFinancialInstruments 2024-01-31 07898011 d:CurrentFinancialInstruments 2023-01-31 07898011 d:Non-currentFinancialInstruments 2024-01-31 07898011 d:Non-currentFinancialInstruments 2023-01-31 07898011 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07898011 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07898011 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07898011 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07898011 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 07898011 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 07898011 d:ShareCapital 2024-01-31 07898011 d:ShareCapital 2023-01-31 07898011 d:RetainedEarningsAccumulatedLosses 2024-01-31 07898011 d:RetainedEarningsAccumulatedLosses 2023-01-31 07898011 c:OrdinaryShareClass1 2023-02-01 2024-01-31 07898011 c:OrdinaryShareClass1 2024-01-31 07898011 c:OrdinaryShareClass1 2023-01-31 07898011 c:FRS102 2023-02-01 2024-01-31 07898011 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07898011 c:FullAccounts 2023-02-01 2024-01-31 07898011 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07898011 2 2023-02-01 2024-01-31 07898011 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07898011









STONE CREST HOMES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
STONE CREST HOMES LIMITED
REGISTERED NUMBER: 07898011

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
38,213
19,950

  
38,213
19,950

Current assets
  

Stocks
  
2,806,971
1,897,454

Debtors: amounts falling due within one year
 6 
183,663
163,269

Cash at bank and in hand
 7 
79,586
279,627

  
3,070,220
2,340,350

Creditors: amounts falling due within one year
 8 
(1,101,579)
(935,906)

Net current assets
  
 
 
1,968,641
 
 
1,404,444

Total assets less current liabilities
  
2,006,854
1,424,394

Creditors: amounts falling due after more than one year
 9 
(599,934)
-

  

Net assets
  
1,406,920
1,424,394


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,406,820
1,424,294

  
1,406,920
1,424,394


Page 1

 
STONE CREST HOMES LIMITED
REGISTERED NUMBER: 07898011
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 comprehensive income 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 31 October 2024.




D J Allison Esq
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
STONE CREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Stone Crest Homes Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA. The company's principal activity is specialised property development and refurbishment.

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:

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.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
STONE CREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% straight line
Office equipment
-
25% straight line

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.

Page 4

 
STONE CREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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 first in, first out 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

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
STONE CREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
18,750
23,754
-
1,767
44,271


Additions
26,877
9,000
3,000
-
38,877


Disposals
(18,750)
-
-
-
(18,750)



At 31 January 2024

26,877
32,754
3,000
1,767
64,398



Depreciation


At 1 February 2023
4,750
18,875
-
696
24,321


Charge for the year on owned assets
3,234
2,813
125
442
6,614


Disposals
(4,750)
-
-
-
(4,750)



At 31 January 2024

3,234
21,688
125
1,138
26,185



Net book value



At 31 January 2024
23,643
11,066
2,875
629
38,213



At 31 January 2023
14,000
4,879
-
1,071
19,950


5.


Stocks

2024
2023
£
£

Work in progress
2,806,971
1,897,454

2,806,971
1,897,454



6.


Debtors

2024
2023
£
£


Other debtors
177,590
140,952

Prepayments and accrued income
6,073
22,317
Page 6

 
STONE CREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.Debtors (continued)


183,663
163,269



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
79,586
279,627

79,586
279,627



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
60,711

Other taxation and social security
4,595
7,026

Other creditors
1,092,434
863,619

Accruals and deferred income
4,550
4,550

1,101,579
935,906



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
599,934
-

599,934
-


Page 7

 
STONE CREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
599,934
-



599,934
-



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

Included within creditors due within one year is an amount of £889,799 (2023 - £855,202) owed to the director of the company and an amount of £208,762 due to a close family member of the director. The director has an interest in dividends declared of £Nil (2023 - £2,000).

Page 8