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REGISTERED NUMBER: 09622540 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ORESTONE CONTROLS LIMITED

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ORESTONE CONTROLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr S W Burton
Mrs J M Donovan
Mr R D J Mullen
Mr W G Potter





SECRETARY: Mr W G Potter





REGISTERED OFFICE: Unit 59 Tempus Business Centre
Kingsclere Road
Basingstoke
RG21 6XG





REGISTERED NUMBER: 09622540 (England and Wales)





ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,268 124,708

CURRENT ASSETS
Stocks 5 95,509 140,986
Debtors 6 784,292 519,231
Cash at bank 614 86,167
880,415 746,384
CREDITORS
Amounts falling due within one year 7 853,650 648,554
NET CURRENT ASSETS 26,765 97,830
TOTAL ASSETS LESS CURRENT LIABILITIES 161,033 222,538

CREDITORS
Amounts falling due after more than
one year

8

(76,584

)

(126,685

)

PROVISIONS FOR LIABILITIES (9,639 ) (13,221 )
NET ASSETS 74,810 82,632

CAPITAL AND RESERVES
Called up share capital 52 52
Capital redemption reserve 60 60
Retained earnings 74,698 82,520
SHAREHOLDERS' FUNDS 74,810 82,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:





Mr W G Potter - Director


ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Orestone Controls 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks 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 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.

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


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 22 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 - 38,496 195,038 233,534
Additions 48,888 17,837 - 66,725
Disposals - - (27,000 ) (27,000 )
At 30 June 2024 48,888 56,333 168,038 273,259
DEPRECIATION
At 1 July 2023 - 23,296 85,530 108,826
Charge for year 9,778 11,468 24,528 45,774
Eliminated on disposal - - (15,609 ) (15,609 )
At 30 June 2024 9,778 34,764 94,449 138,991
NET BOOK VALUE
At 30 June 2024 39,110 21,569 73,589 134,268
At 30 June 2023 - 15,200 109,508 124,708

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 195,038
Disposals (27,000 )
At 30 June 2024 168,038
DEPRECIATION
At 1 July 2023 85,530
Charge for year 24,528
Eliminated on disposal (15,609 )
At 30 June 2024 94,449
NET BOOK VALUE
At 30 June 2024 73,589
At 30 June 2023 109,508

5. STOCKS
2024 2023
as restated
£    £   
Stocks 95,509 140,986

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 451,069 473,501
Other debtors 214,512 35,227
Directors' current accounts - 2,521
Tax 41,705 -
Prepayments 77,006 7,982
784,292 519,231

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 30,677 20,000
Hire purchase contracts 27,752 29,601
Trade creditors 422,270 235,629
Tax 108,603 68,281
Social security and other taxes 64,015 3,993
VAT 26,124 40,189
Other creditors 18,051 8,150
Directors' current accounts 37,095 215,246
Accrued expenses 119,063 27,465
853,650 648,554

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans - 2-5 years 23,841 46,190
Hire purchase contracts 52,743 80,495
76,584 126,685

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
as restated
£    £   
Mr W G Potter
Balance outstanding at start of year (204,038 ) (79,078 )
Amounts advanced 226,547 9,540
Amounts repaid (54,000 ) (134,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (31,491 ) (204,038 )

Mr R D J Mullen
Balance outstanding at start of year 2,521 5
Amounts advanced 20,000 2,521
Amounts repaid (22,521 ) (5 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,521

ORESTONE CONTROLS LIMITED (REGISTERED NUMBER: 09622540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr S W Burton
Balance outstanding at start of year (5,604 ) -
Amounts advanced 34,604 11,000
Amounts repaid (34,604 ) (16,604 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,604 ) (5,604 )

Mrs J M Donovan
Balance outstanding at start of year (5,604 ) -
Amounts advanced 25,963 11,000
Amounts repaid (20,359 ) (16,604 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (5,604 )

Loans are unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £88,880 (2023 - £40,708) were paid to the directors .

During the year dividends to a Director's wife were paid of £37,000. (2023 £67,000).

11. GOVERNMENT GUARANTEED LOAN

The bank loan of £45,016 (2023: £55,629) is a COVID-19 CBILS, guaranteed by the government. Term runs to September 2026.