Registered number
09689816
ADL Granite and Marble Ltd
Filleted Accounts
31 July 2024
ADL Granite and Marble Ltd
Registered number: 09689816
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 40,667 28,763
Current assets
Stocks 50,000 50,000
Debtors 4 52,084 17,090
Cash at bank and in hand 32,928 33,464
135,012 100,554
Creditors: amounts falling due within one year 5 (218,751) (153,939)
Net current liabilities (83,739) (53,385)
Total assets less current liabilities (43,072) (24,622)
Creditors: amounts falling due after more than one year 6 (42,078) (21,296)
Net liabilities (85,150) (45,918)
Capital and reserves
Called up share capital 100 100
Profit and loss account (85,250) (46,018)
Shareholders' funds (85,150) (45,918)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Wheatley
Director
Approved by the board on 12 January 2025
ADL Granite and Marble Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Plant and machinery 15% straight line
Fixtures, fittings, tools and equipment 15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 11,835 121,304 20,645 153,784
Additions - 6,317 23,000 29,317
At 31 July 2024 11,835 127,621 43,645 183,101
Depreciation
At 1 August 2023 - 101,254 23,767 125,021
Charge for the year - 14,787 2,626 17,413
At 31 July 2024 - 116,041 26,393 142,434
Net book value
At 31 July 2024 11,835 11,580 17,252 40,667
At 31 July 2023 11,835 20,050 (3,122) 28,763
4 Debtors 2024 2023
£ £
Trade debtors 21,318 13,324
Other debtors 30,766 3,766
52,084 17,090
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,984 10,648
Obligations under finance lease and hire purchase contracts 6,478 939
Trade creditors 71,325 24,277
Taxation and social security costs 22,215 18,063
Accruals 1,244 1,082
Other creditors 97,505 98,930
218,751 153,939
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,562 21,296
Obligations under finance lease and hire purchase contracts 13,516 -
42,078 21,296
7 Controlling party
The company is controlled by the director, who together with her partner, owns 100% of the issued share capital.
8 Other information
ADL Granite and Marble Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Units A & B, The Works
Presthope
Much Wenlock
Shropshire
TF13 6DQ
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