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Registration number: 08424461

Stonebuild Contracts Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Stonebuild Contracts Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Stonebuild Contracts Limited

Company Information

Directors

J S Wilson

R Fleming

L V Whitehouse

S D Wolff

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Stonebuild Contracts Limited

(Registration number: 08424461)
Balance Sheet
30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

762

1,144

Current assets

 

Stocks

5

66,000

65,000

Debtors

6

118,193

279,106

Cash at bank and in hand

 

555,763

857,007

 

739,956

1,201,113

Creditors: Amounts falling due within one year

7

(14,472)

(390,172)

Net current assets

 

725,484

810,941

Total assets less current liabilities

 

726,246

812,085

Provisions for liabilities

(145)

(217)

Net assets

 

726,101

811,868

Capital and reserves

 

Called up share capital

4

4

Retained earnings

726,097

811,864

Shareholders' funds

 

726,101

811,868

 

Stonebuild Contracts Limited

(Registration number: 08424461)
Balance Sheet
30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 September 2024 and signed on its behalf by:
 

.........................................
J S Wilson
Director

.........................................
S D Wolff
Director

.........................................
R Fleming
Director

.........................................
L V Whitehouse
Director

     
 

Stonebuild Contracts Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

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

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Stonebuild Contracts Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumlated depreciation and subsequent accumulated impairment losses.

The cost of tanigble assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of the assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade 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. 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.

 

Stonebuild Contracts Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recorded at transaction price. Accounts payable 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 0).

 

Stonebuild Contracts Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

1,527

1,527

At 30 April 2024

1,527

1,527

Depreciation

At 1 May 2023

383

383

Charge for the year

382

382

At 30 April 2024

765

765

Carrying amount

At 30 April 2024

762

762

At 30 April 2023

1,144

1,144

5

Stocks

2024
£

2023
£

Work in progress

66,000

65,000

6

Debtors

2024
£

2023
£

Trade debtors

104,200

204,620

Other debtors

13,993

73,284

Prepayments

-

1,202

118,193

279,106

 

Stonebuild Contracts Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

322

356,896

Taxation and social security

-

31,316

Accruals and deferred income

2,150

1,960

Other creditors

12,000

-

14,472

390,172