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Registration number: 08492256

London Stonemasonry Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

London Stonemasonry Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

London Stonemasonry Limited

Company Information

Director

Mr William David Horn

Registered office

Silver Rose
Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

Accountants

Paul Winston Limited
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

London Stonemasonry Limited

(Registration number: 08492256)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

32,641

20,169

Current assets

 

Debtors

5

85,003

185,547

Cash at bank and in hand

 

204,614

198,687

 

289,617

384,234

Creditors: Amounts falling due within one year

6

(86,139)

(99,226)

Net current assets

 

203,478

285,008

Total assets less current liabilities

 

236,119

305,177

Creditors: Amounts falling due after more than one year

6

(32,805)

(33,411)

Provisions for liabilities

(73,921)

(62,955)

Net assets

 

129,393

208,811

capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

129,293

208,711

Shareholders' funds

 

129,393

208,811

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.

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.

 

London Stonemasonry Limited

(Registration number: 08492256)
Balance Sheet as at 30 April 2024

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 19 November 2024
 

.........................................
Mr William David Horn
Director

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Silver Rose
Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS
England

These financial statements were authorised for issue by the director on 19 November 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 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 current 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.

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Plant and machinery

25% net book value

Fixtures and fittings

25% net book value

Motor vehicles

25% net book value

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

19,502

41,620

61,122

Additions

603

22,750

23,353

At 30 April 2024

20,105

64,370

84,475

Depreciation

At 1 May 2023

12,643

28,310

40,953

Charge for the year

1,866

9,015

10,881

At 30 April 2024

14,509

37,325

51,834

Carrying amount

At 30 April 2024

5,596

27,045

32,641

At 30 April 2023

6,859

13,310

20,169

5

Debtors

Current

2024
£

2023
£

Trade debtors

82,503

54,571

Other debtors

2,500

130,976

 

85,003

185,547

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

7,258

3,520

trade creditors

 

52,218

52,406

Taxation and social security

 

23,341

43,300

Other creditors

 

2,493

-

Directors' loan accounts

 

829

-

 

86,139

99,226

Due after one year

 

Loans and borrowings

8

32,805

33,411

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

32,805

33,411

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary W of £1 each

99

99

99

99

Ordinary A of £1 each

1

1

1

1

Ordinary J of £1 each

1

1

1

1

101

101

101

101

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

19,830

30,478

Hire purchase contracts

12,975

2,933

32,805

33,411

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,258

3,520

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £707.07 (2023 - £141.41) per each Ordinary W

70,000

14,000

Interim dividend of £70,000.00 (2023 - £2,000.00) per each Ordinary A

70,000

2,000

Interim dividend of £Nil (2023 - £2,000.00) per each Ordinary J

-

2,000

140,000

18,000

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

 

London Stonemasonry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,503

12,081