L M Stone Limited 11833945 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property ownership. Digita Accounts Production Advanced 6.30.9574.0 true 11833945 2023-04-01 2024-03-31 11833945 2024-03-31 11833945 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 11833945 core:CurrentFinancialInstruments 2024-03-31 11833945 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11833945 bus:SmallEntities 2023-04-01 2024-03-31 11833945 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11833945 bus:FilletedAccounts 2023-04-01 2024-03-31 11833945 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11833945 bus:RegisteredOffice 2023-04-01 2024-03-31 11833945 bus:Director1 2023-04-01 2024-03-31 11833945 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 11833945 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11833945 countries:AllCountries 2023-04-01 2024-03-31 11833945 2023-03-31 11833945 2022-04-01 2023-03-31 11833945 2023-03-31 11833945 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 11833945 core:CurrentFinancialInstruments 2023-03-31 11833945 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11833945

L M Stone Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

L M Stone Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

L M Stone Limited

Company Information

Director

Mrs Eileen Teresa Malkin

Registered office

3 The Spinney
Little Aston
Sutton Coldfield
West Midlands
B74 3BL

 

L M Stone Limited

(Registration number: 11833945)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

442,347

442,347

Current assets

 

Cash at bank and in hand

 

7,295

49

Creditors: Amounts falling due within one year

5

(347,093)

(362,830)

Net current liabilities

 

(339,798)

(362,781)

Net assets

 

102,549

79,566

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

102,548

79,565

Shareholders' funds

 

102,549

79,566

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 her 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 directors' report and the Profit and Loss Account.

Approved and authorised by the director on 22 November 2024
 

.........................................
Mrs Eileen Teresa Malkin
Director

 

L M Stone 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 & Wales.

The address of its registered office is:
3 The Spinney
Little Aston
Sutton Coldfield
West Midlands
B74 3BL
United Kingdom

These financial statements were authorised for issue by the director on 22 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.

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

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use 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.

 

L M Stone Limited

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

2

Accounting policies (continued)

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 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.

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.

3

Staff numbers

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

4

Investment properties

2024
£

At 1 April

442,347

At 31 March

442,347

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

 

L M Stone Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

5.1

333,054

351,464

Taxation and social security

 

6,914

6,491

Accruals and deferred income

 

7,125

4,875

 

347,093

362,830

5.1

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

333,054

351,464

Other borrowings

The carrying amount of Other loan at year end is £Nil (2023 - £Nil).

First charge over the freehold land at 69 High Street, Stone, Staffordshire, ST15 8AD.

The carrying amount of Secured Loans at year end is £333,054 (2023 - £351,464).

Second charge over freehold land at 69 High Street, Stone, Staffordshire, ST15 8AD

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1