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REGISTERED NUMBER: 09700998 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Discover Stone Ltd

Discover Stone Ltd (Registered number: 09700998)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Discover Stone Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: K E Storey
Mrs L Storey



REGISTERED OFFICE: 23 Windermere Drive
Kingswinford
West Midlands
DY6 8AN



REGISTERED NUMBER: 09700998 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Santander
Bridle Road
Liverpool
L30 4GB

Discover Stone Ltd (Registered number: 09700998)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,485 56,393

CURRENT ASSETS
Debtors 5 124,556 92,446
Cash at bank 117,187 137,674
241,743 230,120
CREDITORS
Amounts falling due within one year 6 63,572 84,114
NET CURRENT ASSETS 178,171 146,006
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,656

202,399

CREDITORS
Amounts falling due after more than one
year

7

(36,745

)

(22,669

)

PROVISIONS FOR LIABILITIES (16,868 ) (11,742 )
NET ASSETS 196,043 167,988

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 195,943 167,888
SHAREHOLDERS' FUNDS 196,043 167,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Discover Stone Ltd (Registered number: 09700998)

Statement of Financial Position - continued
31 July 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2024 and were signed on its behalf by:





K E Storey - Director


Discover Stone Ltd (Registered number: 09700998)

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


1. STATUTORY INFORMATION

Discover Stone Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 5 years
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Discover Stone Ltd (Registered number: 09700998)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
Cost
At 1 August 2023 6,688 96,752 5,455 108,895
Additions - 41,921 1,728 43,649
Disposals - (12,999 ) - (12,999 )
At 31 July 2024 6,688 125,674 7,183 139,545
Depreciation
At 1 August 2023 1,338 46,985 4,179 52,502
Charge for year 1,337 21,893 1,214 24,444
Eliminated on disposal - (8,886 ) - (8,886 )
At 31 July 2024 2,675 59,992 5,393 68,060
Net book value
At 31 July 2024 4,013 65,682 1,790 71,485
At 31 July 2023 5,350 49,767 1,276 56,393

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
Cost
At 1 August 2023 47,135
Additions 33,625
At 31 July 2024 80,760
Depreciation
At 1 August 2023 14,239
Charge for year 16,630
At 31 July 2024 30,869
Net book value
At 31 July 2024 49,891
At 31 July 2023 32,896

Discover Stone Ltd (Registered number: 09700998)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 50,430 39,786
Other debtors 74,126 52,660
124,556 92,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Hire purchase contracts (see note 8) 17,307 10,582
Trade creditors 2,141 775
Taxation and social security 39,589 42,623
Other creditors 4,535 30,134
63,572 84,114

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/24 31/7/23
£    £   
Hire purchase contracts (see note 8) 36,745 22,669

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/7/24 31/7/23
£    £   
Net obligations repayable:
Within one year 17,307 10,582
Between one and five years 36,745 22,669
54,052 33,251

Non-cancellable operating leases
31/7/24 31/7/23
£    £   
Within one year 25,568 4,000
Between one and five years 33,557 -
59,125 4,000

Discover Stone Ltd (Registered number: 09700998)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


9. RELATED PARTY DISCLOSURES

Discover Stone Properties Ltd
A company under common control

Included in other debtors is a loan to Discover Stone Properties Ltd of £46,218 (2023 - £46,218). The loan is interest free and has no fixed repayment terms.

K E Storey
Director

At 31 July 2024, the company owed the director £3,605 (2023 - £29,230). The loan balance is interest free and repayable to the director on demand.

10. ULTIMATE CONTROLLING PARTY

From 8 November 2023, the ultimate parent undertaking is KS & LS Holdings Ltd, a company registered in England and Wales. The company is controlled by K E Storey and Mrs L Storey, directors of Discover Stone Ltd. KS & LS Holdings Ltd, which shares the same registered office as Discover Stone Ltd, has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.