Company Registration No. 11522769 (England and Wales)
Great British Stone Limited
Unaudited accounts
for the year ended 31 August 2024
Great British Stone Limited
Unaudited accounts
Contents
Great British Stone Limited
Company Information
for the year ended 31 August 2024
Company Number
11522769 (England and Wales)
Registered Office
Charton Vale
Eglantine Lane
Farningham
Dartford
Kent
DA4 0LD
England
Great British Stone Limited
Statement of financial position
as at 31 August 2024
Tangible assets
168,458
206,047
Cash at bank and in hand
(3,742)
12,608
Creditors: amounts falling due within one year
(75,425)
(64,791)
Net current (liabilities)/assets
(52,044)
74,839
Total assets less current liabilities
116,414
280,886
Creditors: amounts falling due after more than one year
(28,256)
(37,922)
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
88,156
203,812
Shareholders' funds
88,157
203,813
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 December 2024 and were signed on its behalf by
Mr L Boynton
Director
Company Registration No. 11522769
Great British Stone Limited
Notes to the Accounts
for the year ended 31 August 2024
Great British Stone Limited is a private company, limited by shares, registered in England and Wales, registration number 11522769. The registered office is Charton Vale, Eglantine Lane, Farningham, Dartford, Kent, DA4 0LD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost and at variable rates on reducing balance
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Great British Stone Limited
Notes to the Accounts
for the year ended 31 August 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2023
220,816
18,999
82,454
9,892
332,161
Additions
3,384
-
-
-
3,384
At 31 August 2024
224,200
18,999
82,454
9,892
335,545
At 1 September 2023
99,962
9,310
12,193
4,649
126,114
Charge for the year
30,214
2,422
7,026
1,311
40,973
At 31 August 2024
130,176
11,732
19,219
5,960
167,087
At 31 August 2024
94,024
7,267
63,235
3,932
168,458
At 31 August 2023
120,854
9,689
70,261
5,243
206,047
Amounts falling due within one year
Trade debtors
15,559
19,724
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
18,034
7,365
Trade creditors
24,884
20,025
Taxes and social security
6,434
11,476
Other creditors
8,199
11,263
Loans from directors
16,374
37
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
3,240
5,399
Great British Stone Limited
Notes to the Accounts
for the year ended 31 August 2024
8
Average number of employees
During the year the average number of employees was 4 (2023: 4).