Stone Property Solutions Limited 06222205 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is letting of property Digita Accounts Production Advanced 6.30.9574.0 true 06222205 2023-04-01 2024-03-31 06222205 2024-03-31 06222205 bus:Director1 1 2024-03-31 06222205 bus:OrdinaryShareClass1 2024-03-31 06222205 core:CurrentFinancialInstruments 2024-03-31 06222205 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06222205 core:Non-currentFinancialInstruments 2024-03-31 06222205 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06222205 core:FurnitureFittingsToolsEquipment 2024-03-31 06222205 bus:SmallEntities 2023-04-01 2024-03-31 06222205 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06222205 bus:FilletedAccounts 2023-04-01 2024-03-31 06222205 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06222205 bus:RegisteredOffice 2023-04-01 2024-03-31 06222205 bus:Director1 2023-04-01 2024-03-31 06222205 bus:Director1 1 2023-04-01 2024-03-31 06222205 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06222205 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06222205 core:OfficeEquipment 2023-04-01 2024-03-31 06222205 countries:EnglandWales 2023-04-01 2024-03-31 06222205 2023-03-31 06222205 bus:Director1 1 2023-03-31 06222205 core:FurnitureFittingsToolsEquipment 2023-03-31 06222205 2022-04-01 2023-03-31 06222205 2023-03-31 06222205 bus:Director1 1 2023-03-31 06222205 bus:OrdinaryShareClass1 2023-03-31 06222205 core:CurrentFinancialInstruments 2023-03-31 06222205 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06222205 core:Non-currentFinancialInstruments 2023-03-31 06222205 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06222205 bus:Director1 1 2022-04-01 2023-03-31 06222205 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06222205

Stone Property Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Stone Property Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Stone Property Solutions Limited

Company Information

Director

JP Stone

Registered office

College Street
St Helens
Merseyside
WA10 1TY

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Stone Property Solutions Limited

(Registration number: 06222205)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

440,969

424,906

Current assets

 

Debtors

6

3,758

13,008

Cash at bank and in hand

 

645

131

 

4,403

13,139

Creditors: Amounts falling due within one year

7

(160,470)

(153,707)

Net current liabilities

 

(156,067)

(140,568)

Total assets less current liabilities

 

284,902

284,338

Creditors: Amounts falling due after more than one year

7

(257,942)

(263,078)

Provisions for liabilities

(3,979)

(1,800)

Net assets

 

22,981

19,460

Capital and reserves

 

Called up share capital

8

1

1

Revaluation reserve

(7,782)

(7,782)

Retained earnings

30,762

27,241

Shareholders' funds

 

22,981

19,460

 

Stone Property Solutions Limited

(Registration number: 06222205)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 October 2024
 

.........................................
JP Stone
Director

 

Stone Property Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
College Street
St Helens
Merseyside
WA10 1TY

These financial statements were authorised for issue by the director on 29 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.

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 sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises 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 income 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.

 

Stone Property Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 Property Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,276

1,276

At 31 March 2024

1,276

1,276

Depreciation

At 1 April 2023

1,276

1,276

At 31 March 2024

1,276

1,276

Carrying amount

At 31 March 2024

-

-

5

Investment properties

2024
£

At 1 April

424,906

Additions

10,146

Fair value adjustments

5,917

At 31 March

440,969

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Other debtors

3,758

13,008

 

3,758

13,008

 

Stone Property Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,189

4,259

Accruals and deferred income

1,500

1,250

Other creditors

155,781

148,198

160,470

153,707

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

257,942

263,078

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

257,942

263,078

 

Stone Property Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

JP Stone

Director's loan account

(9,298)

7,370

(2,115)

(4,043)

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

JP Stone

Director's loan account

15,167

13,572

(38,036)

(9,298)