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REGISTERED NUMBER: 05400059 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024

FOR

WHITE HALL FLAGSTONES LTD

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


WHITE HALL FLAGSTONES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







Director: R E Rogers





Registered office: Network House
Thorn Office Centre
Rotherwas
Hereford
HR2 6JT





Registered number: 05400059 (England and Wales)

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 29,289 18,704
29,289 18,704

Current assets
Stocks 6 594,684 698,415
Debtors 7 176,246 420,219
Cash at bank and in hand 321,840 68,747
1,092,770 1,187,381
Creditors
Amounts falling due within one year 8 501,163 565,996
Net current assets 591,607 621,385
Total assets less current liabilities 620,896 640,089

Creditors
Amounts falling due after more than one
year

9

-

(3,500

)

Provisions for liabilities 11 (6,500 ) (4,700 )
Net assets 614,396 631,889

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

BALANCE SHEET - continued
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
Capital and reserves
Called up share capital 12 1 1
Retained earnings 614,395 631,888
Shareholders' funds 614,396 631,889

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

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

The director acknowledges his 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th November 2024 and were signed by:





R E Rogers - Director


WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. Statutory information

White Hall Flagstones 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are included in the balance sheet at cost less depreciation.
Depreciation is provided to write off the cost of fixed assets over their useful lives at the following rates:

Improvements to property20% on cost
Plant & machinery 20% on cost
Fixtures & fittings20% on cost
Motor vehicles25% on cost
Computer equipment33.33% on cost


Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.










WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued
Classification of financial liabilities
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 deducing all of its liabilities. Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued

Hire purchase & 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.

Pension costs & 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 (including officers)

The average number of employees during the year was 10 (2023 - 8 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1st April 2023
and 31st March 2024 30,000
Amortisation
At 1st April 2023
and 31st March 2024 30,000
Net book value
At 31st March 2024 -
At 31st March 2023 -

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. Tangible fixed assets
Improvements Plant & Fixtures &
to property machinery fittings
£ £ £
Cost
At 1st April 2023 16,557 31,002 11,628
Additions - 1,623 16,262
At 31st March 2024 16,557 32,625 27,890
Depreciation
At 1st April 2023 16,557 19,742 4,572
Charge for year - 3,665 5,580
At 31st March 2024 16,557 23,407 10,152
Net book value
At 31st March 2024 - 9,218 17,738
At 31st March 2023 - 11,260 7,056

Motor Computer
vehicles equipment Totals
£ £ £
Cost
At 1st April 2023 14,883 7,529 81,599
Additions - 3,199 21,084
At 31st March 2024 14,883 10,728 102,683
Depreciation
At 1st April 2023 14,883 7,141 62,895
Charge for year - 1,254 10,499
At 31st March 2024 14,883 8,395 73,394
Net book value
At 31st March 2024 - 2,333 29,289
At 31st March 2023 - 388 18,704

The net book value of tangible fixed assets includes £ 4,200 (2023 - £ 6,300 ) in respect of assets held under hire purchase contracts.

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. Stocks
31.3.24 31.3.23
£ £
Stocks 594,684 698,415

7. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 45,573 78,000
Other debtors 43,566 17,452
s455 tax 87,107 28,431
Director's loan account - 296,336
176,246 420,219

8. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Hire purchase contracts (see note 10) 3,500 3,500
Trade creditors 131,701 181,902
Corporation tax 18,100 102,047
Social security & other taxes 92,137 52,643
Other creditors 252,601 225,904
Director's loan account 3,124 -
501,163 565,996

9. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Hire purchase contracts (see note 10) - 3,500

10. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£ £
Net obligations repayable:
Within one year 3,500 3,500
Between one and five years - 3,500
3,500 7,000

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


11. Provisions for liabilities
31.3.24 31.3.23
£ £
Deferred tax 6,500 4,700

Deferred tax
£
Balance at 1st April 2023 4,700
Accelerated capital allowances 1,800
Balance at 31st March 2024 6,500

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
1 Ordinary A £1 1 1

100% of the share capital was acquired by Flagstone Holdings Ltd by share for share exchange on 13th July 2023.

13. Contingent liabilities

There were no contingent liabilities as at 31st March 2024.

14. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The Director
During the year, the director used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £91,110 and repayments totalling £387,446 were made during the year. The balance at the year end was £3,124 owed by the company (2023: £296,336 owed to the company).

The loans and advances were made interest free and were repayable on demand.

WHITE HALL FLAGSTONES LTD (REGISTERED NUMBER: 05400059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


15. Ultimate controlling party

The Company is a wholly owned subsidiary of Flagstone Holdings Ltd.
Company registration number:14920485
Company registration address:Network House
Thorn Business Park
Rotherwas
Hereford
HR2 6JT