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REGISTERED NUMBER: 04646203 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

STONE MASTERS LIMITED

STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STONE MASTERS LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A Patel



SECRETARY:



REGISTERED OFFICE: Pegasus House
5 Winckley Court
Mount Street
Preston
Lancashire
PR1 8BU



REGISTERED NUMBER: 04646203 (England and Wales)



BANKERS: Barclays
38 Fishergate
Preston
Lancashire
PR1 2DD

STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 863,473 978,195
863,473 978,195

CURRENT ASSETS
Inventories 1,505,000 1,432,334
Debtors 6 1,011,308 1,397,212
Cash at bank and in hand 739,167 491,098
3,255,475 3,320,644
CREDITORS
Amounts falling due within one year 7 1,826,578 1,818,444
NET CURRENT ASSETS 1,428,897 1,502,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,292,370

2,480,395

CREDITORS
Amounts falling due after more than one
year

8

463,881

714,489
NET ASSETS 1,828,489 1,765,906

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,828,389 1,765,806
SHAREHOLDERS' FUNDS 1,828,489 1,765,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Balance Sheet - continued
31 DECEMBER 2023



The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





A Patel - Director


STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Stone Masters Limited 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and 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 and 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 AND DIRECTORS

The average number of employees during the year was 85 (2022 - 84 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 146,273 1,993,227 249,185
Additions 27,237 75,412 16,582
At 31 December 2023 173,510 2,068,639 265,767
DEPRECIATION
At 1 January 2023 38,129 1,281,934 118,271
Charge for year 31,690 180,286 20,280
At 31 December 2023 69,819 1,462,220 138,551
NET BOOK VALUE
At 31 December 2023 103,691 606,419 127,216
At 31 December 2022 108,144 711,293 130,914

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 59,641 107,620 2,555,946
Additions - 6,317 125,548
At 31 December 2023 59,641 113,937 2,681,494
DEPRECIATION
At 1 January 2023 54,058 85,359 1,577,751
Charge for year 1,280 6,734 240,270
At 31 December 2023 55,338 92,093 1,818,021
NET BOOK VALUE
At 31 December 2023 4,303 21,844 863,473
At 31 December 2022 5,583 22,261 978,195

STONE MASTERS LIMITED (REGISTERED NUMBER: 04646203)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to
property
£   
COST
At 1 January 2023
DEPRECIATION
At 1 January 2023 34,700
Charge for year 31,690
At 31 December 2023 66,390
NET BOOK VALUE
At 31 December 2023 (66,390 )
At 31 December 2022 (34,700 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 956,108 1,345,933
Other debtors 55,200 51,279
1,011,308 1,397,212

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 200,013 200,013
Hire purchase contracts 121,222 128,908
Trade creditors 890,832 881,646
Corporation Tax 679 36
Social security and other taxes (21,094 ) 43,561
VAT 206,661 215,828
Other creditors 209,230 171,189
Directors' current accounts 211,525 169,663
Accrued expenses 7,510 7,600
1,826,578 1,818,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 230,868 390,821
Hire purchase contracts 233,013 323,668
463,881 714,489