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REGISTERED NUMBER: 03135406 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Warmsworth Stone Limited

Warmsworth Stone Limited (Registered number: 03135406)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Warmsworth Stone Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs S Frith
S J Frith
Mrs H M Frith





SECRETARY: Mrs S Frith





REGISTERED OFFICE: 1-3 Sheffield Road
Warmsworth
Doncaster
South Yorkshire
DN4 9QH





REGISTERED NUMBER: 03135406 (England and Wales)





ACCOUNTANT: L Green & Co
Chartered Certified Accountants
Unit 7 Shaw Wood Way
Doncaster
South Yorkshire
DN2 5TB

Warmsworth Stone Limited (Registered number: 03135406)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 1,413,756 799,171
1,413,757 799,172

CURRENT ASSETS
Stocks 409,378 325,661
Debtors 6 34,536 65,392
443,914 391,053
CREDITORS
Amounts falling due within one year 7 993,788 880,792
NET CURRENT LIABILITIES (549,874 ) (489,739 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

863,883

309,433

CREDITORS
Amounts falling due after more than one
year

8

(239,433

)

(259,073

)

PROVISIONS FOR LIABILITIES (194,247 ) (74,547 )
NET ASSETS/(LIABILITIES) 430,203 (24,187 )

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 828,199 317,899
Retained earnings (398,096 ) (342,186 )
SHAREHOLDERS' FUNDS 430,203 (24,187 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Warmsworth Stone Limited (Registered number: 03135406)

Balance Sheet - continued
29 February 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Mrs S Frith - Director S J Frith - Director




Mrs H M Frith - Director


Warmsworth Stone Limited (Registered number: 03135406)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Warmsworth Stone 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods or services, excluding value added tax. Goods are invoiced upon delivery to site or collection from showroom. Services for remodelling stone are invoiced on completion of job and delivery to customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, 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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued by the directors at the year end based upon the volume of stock onsite at this point at an estimate of current cost.

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.


Warmsworth Stone Limited (Registered number: 03135406)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

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 16 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023
and 29 February 2024 9,999
NET BOOK VALUE
At 29 February 2024 1
At 28 February 2023 1

Warmsworth Stone Limited (Registered number: 03135406)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 March 2023 770,000 640,204 6,554 51,245 1,468,003
Disposals - - - (15,000 ) (15,000 )
Revaluations 630,000 - - - 630,000
At 29 February 2024 1,400,000 640,204 6,554 36,245 2,083,003
DEPRECIATION
At 1 March 2023 - 633,706 6,421 28,705 668,832
Charge for year - 1,019 30 6,866 7,915
Eliminated on disposal - - - (7,500 ) (7,500 )
At 29 February 2024 - 634,725 6,451 28,071 669,247
NET BOOK VALUE
At 29 February 2024 1,400,000 5,479 103 8,174 1,413,756
At 28 February 2023 770,000 6,498 133 22,540 799,171

Cost or valuation at 29 February 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2016 392,446 - - - 392,446
Valuation in 2024 630,000 - - - 630,000
Cost 377,554 640,204 6,554 36,245 1,060,557
1,400,000 640,204 6,554 36,245 2,083,003

If freehold property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 377,544 377,544

Warmsworth Stone Limited (Registered number: 03135406)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 34,045
DEPRECIATION
At 1 March 2023 24,206
Charge for year 2,703
At 29 February 2024 26,909
NET BOOK VALUE
At 29 February 2024 7,136
At 28 February 2023 9,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 17,799 20,367
Other debtors 9,720 9,720
Prepayments 7,017 35,305
34,536 65,392

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 33,703 37,081
Other loans 14,568 14,568
Hire purchase contracts - 4,635
Trade creditors 33,561 50,332
Tax 1,030 1,030
Social security and other taxes 25,305 6,136
VAT 180,794 194,145
Other creditors 46,588 63,383
Directors' current accounts 459,341 319,042
Accrued expenses 198,898 190,440
993,788 880,792

Included within creditors less than one year is an amount for the bank overdraft. This is an amalgamation of loans and some other financial obligations that the bank have converted into an overdraft temporarily.

Warmsworth Stone Limited (Registered number: 03135406)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 12,930 12,930
Bank loans - 2-5 years 51,720 51,720
Bank loans more 5 yr by instal 109,451 125,033
Other loans - 1-2 years 14,568 14,568
Other loans - 2-5 years 50,764 54,822
239,433 259,073

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 109,451 125,033

Included within creditors more than one year is an amount for the bank overdraft. This is an amalgamation of loans and some other financial obligations that the bank have converted into an overdraft temporarily.

9. RESERVES
Revaluation
reserve
£   
At 1 March 2023 317,899
Property revaluation 510,300

At 29 February 2024 828,199

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
S J Frith and Mrs H M Frith
Balance outstanding at start of year (86,829 ) (60,407 )
Amounts advanced 51,284 57,977
Amounts repaid (182,889 ) (84,399 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (218,434 ) (86,829 )

Warmsworth Stone Limited (Registered number: 03135406)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs S Frith
Balance outstanding at start of year (232,213 ) (237,159 )
Amounts advanced 6,450 7,247
Amounts repaid (15,146 ) (2,301 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (240,909 ) (232,213 )