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Company registration number: 06216351
A to Z Stone Repairs Limited
Unaudited filleted financial statements
30 April 2024
A to Z Stone Repairs Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
A to Z Stone Repairs Limited
Directors and other information
Director Mr Michael Edward Raine
Secretary Mrs Hayley Raine
Company number 06216351
Registered office 5 Underwood Street
London
N1 7LY
A to Z Stone Repairs Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 38,829 40,687
_______ _______
38,829 40,687
Current assets
Debtors 6 537,636 156,171
Cash at bank and in hand 147,960 340,570
_______ _______
685,596 496,741
Creditors: amounts falling due
within one year 7 ( 198,676) ( 121,115)
_______ _______
Net current assets 486,920 375,626
_______ _______
Total assets less current liabilities 525,749 416,313
Creditors: amounts falling due
after more than one year - ( 1,396)
_______ _______
Net assets 525,749 414,917
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 525,747 414,915
_______ _______
Shareholder funds 525,749 414,917
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Mr Michael Edward Raine
Director
Company registration number: 06216351
A to Z Stone Repairs Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Underwood Street, London, N1 7LY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when: - The amount of revenue can be reliably measured; - It is probable that future economic benefits will flow to the entity; and - Specific criteria have been met for each of the company's activities.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Hire purchase and finance leases
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 4,999 4,187 54,968 64,154
Additions - - 19,495 19,495
Disposals - - ( 5,000) ( 5,000)
_______ _______ _______ _______
At 30 April 2024 4,999 4,187 69,463 78,649
_______ _______ _______ _______
Depreciation
At 1 May 2023 1,250 3,475 18,742 23,467
Charge for the year 1,250 237 19,866 21,353
Disposals - - ( 5,000) ( 5,000)
_______ _______ _______ _______
At 30 April 2024 2,500 3,712 33,608 39,820
_______ _______ _______ _______
Carrying amount
At 30 April 2024 2,499 475 35,855 38,829
_______ _______ _______ _______
At 30 April 2023 3,749 712 36,226 40,687
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 287,240 103,068
Other debtors 250,396 53,103
_______ _______
537,636 156,171
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 86,168 64,529
Corporation tax 106,813 45,842
Other creditors 5,695 10,744
_______ _______
198,676 121,115
_______ _______
8. Obligations under finance leases
Company lessee
The total future minimum lease payments under finance lease agreements are as follows:
2024 2023
£ £
Not later than 1 year 1,396 5,558
Later than 1 year and not later than 5 years - 1,396
_______ _______
1,396 6,954
_______ _______
Present value of minimum lease payments 1,396 6,954
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 34,651 5,955
Later than 1 year and not later than 5 years 13,178 3,206
_______ _______
47,829 9,161
_______ _______