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Registered number: 07370046
Britannicus Stone Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Quest Accounting Services Limited
Suite 110, The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Britannicus Stone Limited for the year ended year which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the director of Britannicus Stone Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Britannicus Stone Limited and state those matters that we have agreed to state to the director of Britannicus Stone Limited in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Britannicus Stone Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Britannicus Stone Limited . You consider that Britannicus Stone Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Britannicus Stone Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
6th November 2024
Quest Accounting Services Limited
Suite 110, The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Page 1
Page 2
Balance Sheet
Registered number: 07370046
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,362 3,333
3,362 3,333
CURRENT ASSETS
Stocks 5 200,000 216,543
Debtors 6 368,196 114,763
Cash at bank and in hand 135,737 84,710
703,933 416,016
Creditors: Amounts Falling Due Within One Year 7 (155,265 ) (61,668 )
NET CURRENT ASSETS (LIABILITIES) 548,668 354,348
TOTAL ASSETS LESS CURRENT LIABILITIES 552,030 357,681
Creditors: Amounts Falling Due After More Than One Year 8 (1,789,477 ) (1,799,144 )
NET LIABILITIES (1,237,447 ) (1,441,463 )
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account (1,238,447 ) (1,442,463 )
SHAREHOLDERS' FUNDS (1,237,447) (1,441,463)
Page 2
Page 3
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Hunter
Director
6th November 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Britannicus Stone Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07370046 . The registered office is Unit 24 Chelsea Wharf, Lots Road, London, SW10 0QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 32,828 2,755 35,583
Additions 2,308 225 2,533
As at 31 March 2024 35,136 2,980 38,116
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 April 2023 30,183 2,067 32,250
Provided during the period 1,759 745 2,504
As at 31 March 2024 31,942 2,812 34,754
Net Book Value
As at 31 March 2024 3,194 168 3,362
As at 1 April 2023 2,645 688 3,333
5. Stocks
2024 2023
£ £
Stock 200,000 216,543
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 272,196 60,296
Due after more than one year
Other debtors 65,000 15,000
Amounts owed by group undertakings 31,000 39,467
96,000 54,467
368,196 114,763
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 86,581 41,173
Bank loans and overdrafts 5,385 5,385
VAT 49,053 8,374
Other creditors 14,246 6,736
155,265 61,668
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,353 33,654
Other creditors 26,474 1,743,758
Directors loan account 1,735,650 21,732
1,789,477 1,799,144
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5