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REGISTERED NUMBER: 10115174 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Stone Carpets (Sussex) Ltd

Stone Carpets (Sussex) Ltd (Registered number: 10115174)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 12,400 18,600
Tangible fixed assets 5 12,145 14,017
24,545 32,617

Current assets
Stocks 49,399 43,801
Debtors 6 27,917 26,619
Cash at bank 609,521 532,594
686,837 603,014
Creditors: amounts falling due within
one year

7

234,005

174,351
Net current assets 452,832 428,663
Total assets less current liabilities 477,377 461,280

Provisions for liabilities 2,141 2,416
Net assets 475,236 458,864

Capital and reserves
Called up share capital 8 10,000 10,000
Retained earnings 465,236 448,864
Shareholders' funds 475,236 458,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Balance Sheet - continued
31 October 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 29 January 2025 and were signed on its behalf by:





E L Stone - Director


Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. Statutory information

Stone Carpets (Sussex) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10115174

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Intangible fixed assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Goodwill is initially recorded at cost and subsequently recorded at cost less accumulated amortisation and impairment.

Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 33% straight line
Motor vehicles - 25% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Stock is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.

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.

Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. Accounting policies - continued

Hire purchase and leasing commitments
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 5 (2023 - 5 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2023
and 31 October 2024 62,000
Amortisation
At 1 November 2023 43,400
Amortisation for year 6,200
At 31 October 2024 49,600
Net book value
At 31 October 2024 12,400
At 31 October 2023 18,600

Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 November 2023 7,290 18,858 11,766 3,569 41,483
Additions - - - 860 860
At 31 October 2024 7,290 18,858 11,766 4,429 42,343
Depreciation
At 1 November 2023 4,953 9,286 10,046 3,181 27,466
Charge for year 350 1,435 430 517 2,732
At 31 October 2024 5,303 10,721 10,476 3,698 30,198
Net book value
At 31 October 2024 1,987 8,137 1,290 731 12,145
At 31 October 2023 2,337 9,572 1,720 388 14,017

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 26,507 25,369
Prepayments and accrued income 1,410 1,250
27,917 26,619

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 76,281 51,309
Amounts owed to group undertakings 60,181 30,112
Taxation and social security 93,476 89,320
Other creditors 4,067 3,610
234,005 174,351

Stone Carpets (Sussex) Ltd (Registered number: 10115174)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary shares £1 10,000 10,000