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REGISTERED NUMBER: 06111732 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STONETOOLS LIMITED

STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

STONETOOLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S Latimer





REGISTERED OFFICE: Unit 8 Kingstanding Business Park
Kingstanding Way
TUNBRIDGE WELLS
Kent
TN2 3UP





REGISTERED NUMBER: 06111732 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 62,302 72,685
Tangible assets 5 9,778 19,289
72,080 91,974

CURRENT ASSETS
Stocks 497,161 624,368
Debtors 6 318,804 292,775
Cash at bank and in hand 87 7,617
816,052 924,760
CREDITORS
Amounts falling due within one year 7 637,618 830,645
NET CURRENT ASSETS 178,434 94,115
TOTAL ASSETS LESS CURRENT LIABILITIES 250,514 186,089

CREDITORS
Amounts falling due after more than one year 8 (124,223 ) (25,000 )

PROVISIONS FOR LIABILITIES 10 (2,445 ) (3,046 )
NET ASSETS 123,846 158,043

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 11 123,744 157,941
SHAREHOLDERS' FUNDS 123,846 158,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





S Latimer - Director


STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Stonetools Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In preparing the financial statements, the director is required to make an assessment of the ability of the company to continue as a going concern. The director has considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. The director has paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company.

On the basis of this consideration, the director is satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion he considers that no material uncertainty exists. As a result, the director has concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover
Turnover represents net invoiced sales of machine tools, excluding value added tax. Turnover is recognised at the point at which an invoice is raised.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 207,665
AMORTISATION
At 1 January 2023 134,980
Charge for year 10,383
At 31 December 2023 145,363
NET BOOK VALUE
At 31 December 2023 62,302
At 31 December 2022 72,685

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 176,735
Additions 692
At 31 December 2023 177,427
DEPRECIATION
At 1 January 2023 157,446
Charge for year 10,203
At 31 December 2023 167,649
NET BOOK VALUE
At 31 December 2023 9,778
At 31 December 2022 19,289

STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 185,217 224,237
Other debtors 112,771 21,024
Prepayments 20,816 47,514
318,804 292,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,817 10,000
Other loans 33,333 -
Trade creditors 195,422 498,822
Tax 78,047 68,110
Social security and other taxes 19,922 13,130
VAT 143,965 51,320
Other creditors 151,987 180,635
Directors' current accounts 126 126
Accrued expenses 3,999 8,502
637,618 830,645

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 8,624 15,000
Other loans - 1-2 years 33,333 -
Other loans - 2-5 years 37,266 -
Other creditors 35,000 -
124,223 25,000

9. SECURED DEBTS

There is a rent deposit deed over the company. The amount secured is all monies due or to become due from the company to the chargee Hargreaves Properties Limited.

There is also a fixed and floating charge over the company. The amount secured is all monies due or to become due from the company to the chargee Barclays Bank PLC on any account whatsoever.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 2,445 3,046

STONETOOLS LIMITED (REGISTERED NUMBER: 06111732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 3,046
Accelerated capital allowances (601 )
Balance at 31 December 2023 2,445

11. RESERVES
Retained
earnings
£   

At 1 January 2023 157,941
Profit for the year 124,652
Dividends (158,849 )
At 31 December 2023 123,744

12. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £127 (2022 - £127) to Mr S Latimer. The loan is interest free and has no terms attached to it.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
STONETOOLS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stonetools Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Stonetools Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stonetools Limited and state those matters that we have agreed to state to the director of Stonetools Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stonetools Limited and its director for our work or for this report.

It is your duty to ensure that Stonetools 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 Stonetools Limited. You consider that Stonetools Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stonetools 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.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


31 October 2024