Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31142023-06-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05264504 2023-06-01 2024-05-31 05264504 2022-06-01 2023-05-31 05264504 2024-05-31 05264504 2023-05-31 05264504 2022-06-01 05264504 c:Director2 2023-06-01 2024-05-31 05264504 d:Buildings 2023-06-01 2024-05-31 05264504 d:Buildings 2024-05-31 05264504 d:Buildings 2023-05-31 05264504 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05264504 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 05264504 d:PlantMachinery 2023-06-01 2024-05-31 05264504 d:PlantMachinery 2024-05-31 05264504 d:PlantMachinery 2023-05-31 05264504 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05264504 d:MotorVehicles 2023-06-01 2024-05-31 05264504 d:MotorVehicles 2024-05-31 05264504 d:MotorVehicles 2023-05-31 05264504 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05264504 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05264504 d:CurrentFinancialInstruments 2024-05-31 05264504 d:CurrentFinancialInstruments 2023-05-31 05264504 d:Non-currentFinancialInstruments 2024-05-31 05264504 d:Non-currentFinancialInstruments 2023-05-31 05264504 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 05264504 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05264504 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 05264504 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 05264504 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 05264504 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 05264504 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 05264504 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 05264504 d:ShareCapital 2023-06-01 2024-05-31 05264504 d:ShareCapital 2024-05-31 05264504 d:ShareCapital 2022-06-01 2023-05-31 05264504 d:ShareCapital 2023-05-31 05264504 d:ShareCapital 2022-06-01 05264504 d:CapitalRedemptionReserve 2023-06-01 2024-05-31 05264504 d:CapitalRedemptionReserve 2024-05-31 05264504 d:CapitalRedemptionReserve 2023-05-31 05264504 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 05264504 d:RetainedEarningsAccumulatedLosses 2024-05-31 05264504 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 05264504 d:RetainedEarningsAccumulatedLosses 2023-05-31 05264504 d:RetainedEarningsAccumulatedLosses 2022-06-01 05264504 c:OrdinaryShareClass1 2023-06-01 2024-05-31 05264504 c:OrdinaryShareClass1 2024-05-31 05264504 c:OrdinaryShareClass1 2023-05-31 05264504 c:FRS102 2023-06-01 2024-05-31 05264504 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05264504 c:FullAccounts 2023-06-01 2024-05-31 05264504 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05264504 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 05264504 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 05264504 2 2023-06-01 2024-05-31 05264504 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-05-31 05264504 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-31 05264504 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 05264504 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 05264504 d:LeasedAssetsHeldAsLessee 2024-05-31 05264504 d:LeasedAssetsHeldAsLessee 2023-05-31 05264504 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05264504










STONE WORX LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
STONE WORX LIMITED
REGISTERED NUMBER: 05264504

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
113,325
143,177

  
113,325
143,177

Current assets
  

Stocks
  
93,065
96,065

Debtors: amounts falling due within one year
 5 
113,756
181,826

Cash at bank and in hand
  
123,820
71,241

  
330,641
349,132

Creditors: amounts falling due within one year
 6 
(178,299)
(202,705)

Net current assets
  
 
 
152,342
 
 
146,427

Total assets less current liabilities
  
265,667
289,604

Creditors: amounts falling due after more than one year
 7 
(44,014)
(38,372)

Provisions for liabilities
  

Deferred tax
 9 
(26,249)
(33,030)

Net assets
  
195,404
218,202


Capital and reserves
  

Called up share capital 
  
1
2

Capital redemption reserve
  
1
-

Profit and loss account
  
195,402
218,200

  
195,404
218,202


Page 1

 
STONE WORX LIMITED
REGISTERED NUMBER: 05264504
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Spearing
Director

Date: 25 February 2025

The notes on pages 5 to 12 form part of these financial statements.

Page 2

 
STONE WORX LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 June 2023
2
-
218,200
218,202


Comprehensive income for the year

Profit for the year

-
-
81,202
81,202


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
81,202
81,202


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(4,000)
(4,000)

Purchase of own shares
-
1
(100,000)
(99,999)

Shares cancelled during the year
(1)
-
-
(1)


Total transactions with owners
(1)
1
(104,000)
(104,000)


At 31 May 2024
1
1
195,402
195,404


The notes on pages 5 to 12 form part of these financial statements.

Page 3

 
STONE WORX LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2022
2
164,233
164,235


Comprehensive income for the year

Profit for the year

-
112,123
112,123


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
112,123
112,123


Contributions by and distributions to owners

Dividends: Equity capital
-
(58,156)
(58,156)


Total transactions with owners
-
(58,156)
(58,156)


At 31 May 2023
2
218,200
218,202


The notes on pages 5 to 12 form part of these financial statements.

Page 4

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Stone Worx Limited (05264504), is a private company limited by shares. It is incorporated in England & Wales. The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
25% reducing balance
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 14).

Page 8

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





L/Term Leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 June 2023
11,960
644,114
100,430
756,504


Additions
-
10,952
-
10,952


Disposals
-
-
(22,688)
(22,688)



At 31 May 2024

11,960
655,066
77,742
744,768



Depreciation


At 1 June 2023
10,747
542,844
59,736
613,327


Charge for the year on owned assets
303
28,056
10,047
38,406


Disposals
-
-
(20,290)
(20,290)



At 31 May 2024

11,050
570,900
49,493
631,443



Net book value



At 31 May 2024
910
84,166
28,249
113,325



At 31 May 2023
1,213
101,270
40,694
143,177

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
19,552
26,069

Motor vehicles
18,551
24,735

38,103
50,804

Page 9

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
110,059
180,507

Other debtors
751
-

Prepayments and accrued income
2,946
1,319

113,756
181,826



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
36,087
9,935

Trade creditors
68,885
104,040

Corporation tax
31,823
26,570

Other taxation and social security
17,850
18,165

Obligations under finance lease and hire purchase contracts
10,073
28,292

Other creditors
11,081
13,203

Accruals and deferred income
2,500
2,500

178,299
202,705



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
42,885
23,289

Net obligations under finance leases and hire purchase contracts
1,129
15,083

44,014
38,372


Page 10

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
36,087
9,935


36,087
9,935

Amounts falling due 1-2 years

Bank loans
38,995
10,191


38,995
10,191

Amounts falling due 2-5 years

Bank loans
3,891
13,098


3,891
13,098


78,973
33,224


Page 11

 
STONE WORX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024


£






At beginning of year
(33,030)


Charged to profit or loss
6,781



At end of year
(26,249)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(26,249)
(33,030)

(26,249)
(33,030)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 2) Ordinary share of £1.00
1
2

During the year the company purchased and cancelled 1 share. 



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,407 (2023 - £29,036).

 
Page 12