Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Mrs L J Jackson 19/05/1999 Mr N C Jackson Deceased 18/03/2024 19/05/1999 07 November 2024 The principal activity of the Company during the financial year is that of architects and builders. 03774280 2024-05-31 03774280 bus:Director1 2024-05-31 03774280 bus:Director2 2024-05-31 03774280 2023-05-31 03774280 core:CurrentFinancialInstruments 2024-05-31 03774280 core:CurrentFinancialInstruments 2023-05-31 03774280 core:ShareCapital 2024-05-31 03774280 core:ShareCapital 2023-05-31 03774280 core:RevaluationReserve 2024-05-31 03774280 core:RevaluationReserve 2023-05-31 03774280 core:RetainedEarningsAccumulatedLosses 2024-05-31 03774280 core:RetainedEarningsAccumulatedLosses 2023-05-31 03774280 core:LandBuildings 2023-05-31 03774280 core:Vehicles 2023-05-31 03774280 core:FurnitureFittings 2023-05-31 03774280 core:LandBuildings 2024-05-31 03774280 core:Vehicles 2024-05-31 03774280 core:FurnitureFittings 2024-05-31 03774280 core:CostValuation 2023-05-31 03774280 core:CostValuation 2024-05-31 03774280 bus:OrdinaryShareClass1 2024-05-31 03774280 2023-06-01 2024-05-31 03774280 bus:FilletedAccounts 2023-06-01 2024-05-31 03774280 bus:SmallEntities 2023-06-01 2024-05-31 03774280 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03774280 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03774280 bus:Director1 2023-06-01 2024-05-31 03774280 bus:Director2 2023-06-01 2024-05-31 03774280 core:LandBuildings core:TopRangeValue 2023-06-01 2024-05-31 03774280 core:Vehicles core:TopRangeValue 2023-06-01 2024-05-31 03774280 core:FurnitureFittings core:TopRangeValue 2023-06-01 2024-05-31 03774280 2022-06-01 2023-05-31 03774280 core:LandBuildings 2023-06-01 2024-05-31 03774280 core:Vehicles 2023-06-01 2024-05-31 03774280 core:FurnitureFittings 2023-06-01 2024-05-31 03774280 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 03774280 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03774280 (England and Wales)

STONEWATER DESIGN AND BUILD LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

STONEWATER DESIGN AND BUILD LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

STONEWATER DESIGN AND BUILD LIMITED

BALANCE SHEET

As at 31 May 2024
STONEWATER DESIGN AND BUILD LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 30,391 46,445
Investment property 4 1,200,000 994,483
Investments 5 50,250 50,250
1,280,641 1,091,178
Current assets
Stocks 309,617 321,073
Debtors 6 2,685 2,701
Cash at bank and in hand 26,354 4,593
338,656 328,367
Creditors: amounts falling due within one year 7 ( 109,887) ( 118,981)
Net current assets 228,769 209,386
Total assets less current liabilities 1,509,410 1,300,564
Provision for liabilities ( 30,124) 7,611
Net assets 1,479,286 1,308,175
Capital and reserves
Called-up share capital 8 2 2
Revaluation reserve 163,316 0
Profit and loss account 1,315,968 1,308,173
Total shareholders' funds 1,479,286 1,308,175

For the financial year ending 31 May 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 financial statements of Stonewater Design and build Limited (registered number: 03774280) were approved and authorised for issue by the Director on 07 November 2024. They were signed on its behalf by:

Mrs L J Jackson
Director
STONEWATER DESIGN AND BUILD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
STONEWATER DESIGN AND BUILD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stonewater Design and build Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Studio, Breakwater Court, Berry Head, Road, Brixham, TQ5 9AG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Interest income

Interest income is recognised over time based on the amount outstanding and the effective interest rate.

Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 June 2023 19,964 71,295 6,983 98,242
Additions 0 0 625 625
At 31 May 2024 19,964 71,295 7,608 98,867
Accumulated depreciation
At 01 June 2023 5,769 39,045 6,983 51,797
Charge for the financial year 398 16,125 156 16,679
At 31 May 2024 6,167 55,170 7,139 68,476
Net book value
At 31 May 2024 13,797 16,125 469 30,391
At 31 May 2023 14,195 32,250 0 46,445

4. Investment property

Investment property
£
Valuation
As at 01 June 2023 994,483
Additions 3,892
Fair value movement 201,625
As at 31 May 2024 1,200,000

Valuation

A full market valuation of investment property was completed during the year. The fair value of the Group’s residential investment property at 31 May 2024 have been arrived at on the basis of valuations carried out by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued.

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 June 2023 50,250 50,250
At 31 May 2024 50,250 50,250
Carrying value at 31 May 2024 50,250 50,250
Carrying value at 31 May 2023 50,250 50,250

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.05.2024
Ownership
31.05.2023
Held
Kammbronn Homes Limited 12 Tresprison Business Park, Helston, Cornwall, United Kingdom, TR13 0QD Property development Ordinary 10.00% 10.00% Direct

6. Debtors

2024 2023
£ £
Prepayments 1,145 0
VAT recoverable 1,540 2,701
2,685 2,701

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 101,665 76,546
Accruals 3,330 2,842
Taxation and social security 4,892 39,593
109,887 118,981

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2