Company Registration No. 04939065 (England and Wales)
Natural Stone and Timber Ltd
Unaudited accounts
for the year ended 31 October 2024
Natural Stone and Timber Ltd
Unaudited accounts
Contents
Natural Stone and Timber Ltd
Company Information
for the year ended 31 October 2024
Directors
Mr B E Taylor
Mr B A Taylor
Company Number
04939065 (England and Wales)
Registered Office
Voyager Park North
Portfield Road
Portsmouth
Hampshire
PO3 5FX
Accountants
Babcock Tax & Accountancy Services Ltd
The Florins, 8 Lulworth Close
Hayling Island
Hampshire
PO11 0NY
Natural Stone and Timber Ltd
Statement of financial position
as at 31 October 2024
Intangible assets
380,300
409,749
Tangible assets
405,080
399,778
Inventories
1,408,882
1,276,498
Cash at bank and in hand
399,438
570,609
Creditors: amounts falling due within one year
(510,229)
(524,205)
Net current assets
1,565,628
1,577,825
Total assets less current liabilities
2,351,008
2,387,352
Creditors: amounts falling due after more than one year
(40,135)
(78,049)
Provisions for liabilities
Deferred tax
(85,215)
(73,465)
Net assets
2,225,658
2,235,838
Called up share capital
100
100
Profit and loss account
2,225,558
2,235,738
Shareholders' funds
2,225,658
2,235,838
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by
Mr B E Taylor
Director
Company Registration No. 04939065
Natural Stone and Timber Ltd
Notes to the Accounts
for the year ended 31 October 2024
Natural Stone and Timber Ltd is a private company, limited by shares, registered in England and Wales, registration number 04939065. The registered office is Voyager Park North, Portfield Road, Portsmouth, Hampshire, PO3 5FX.
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.
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:
Short leasehold - 5% straight line
Improvements to leasehold property - 5% straight line
Plant & machinery - 10% on reducing balance
Fixtures & fittings - 25% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. 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.
Natural Stone and Timber Ltd
Notes to the Accounts
for the year ended 31 October 2024
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 twenty years.
Hire purchase and leasing committments
Assets obtained under hire purchase contracts or finance leases are capitalised. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
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.
4
Intangible fixed assets
Goodwill
At 1 November 2023
588,999
At 31 October 2024
588,999
At 1 November 2023
179,250
Charge for the year
29,449
At 31 October 2024
208,699
At 31 October 2024
380,300
At 31 October 2023
409,749
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 November 2023
187,954
320,733
671,834
63,658
25,256
1,269,435
Additions
-
-
78,000
-
-
78,000
At 31 October 2024
187,954
320,733
749,834
63,658
25,256
1,347,435
At 1 November 2023
114,458
167,854
505,592
56,697
25,056
869,657
Charge for the year
9,275
15,288
44,810
3,126
199
72,698
At 31 October 2024
123,733
183,142
550,402
59,823
25,255
942,355
At 31 October 2024
64,221
137,591
199,432
3,835
1
405,080
At 31 October 2023
73,496
152,879
166,242
6,961
200
399,778
Natural Stone and Timber Ltd
Notes to the Accounts
for the year ended 31 October 2024
Amounts falling due within one year
Trade debtors
234,663
217,600
Accrued income and prepayments
16,024
15,576
Other debtors
16,850
21,747
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
32,419
15,752
Trade creditors
232,452
165,613
Taxes and social security
62,823
111,991
Other creditors
75,024
82,361
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
37,010
20,758
Other creditors
3,125
57,291
The ultimate controlling party is B E Taylor
10
Average number of employees
During the year the average number of employees was 29 (2023: 32).