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Registered number: 10700768









STONEOFOY LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
STONEOFOY LIMITED
 
 
COMPANY INFORMATION


Directors
Mr P J Maskell 
Mrs C A Maskell 




Registered number
10700768



Registered office
Brierly Place
New London Road

Chelmsford

Essex

CM2 0AP




Accountants
Lakin Rose Limited

Cambridge House

Camboro Business Park

Girton

Cambridge

CB3 0QH




Investment managers
Evelyn Partners Investment Management Services Limited

London

EC2V 7BG




Solicitors
Birketts LLP
Brierly Place

New London Road

Chelmsford

Essex

CM2 0AP





 
STONEOFOY LIMITED
 

CONTENTS



Page
Accountants' report
 
1
Balance sheet
 
2 - 3
Statement of changes in equity
 
4
Notes to the financial statements
 
5 - 8


 
STONEOFOY LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STONEOFOY LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stoneofoy Limited for the year ended 31 March 2024 which comprise  the balance sheet, the statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the board of directors of Stoneofoy Limited, as a body, in accordance with the terms of our engagement letter dated 10 December 2018Our work has been undertaken solely to prepare for your approval the financial statements of Stoneofoy Limited and state those matters that we have agreed to state to the board of directors of Stoneofoy Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stoneofoy Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Stoneofoy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stoneofoy Limited. You consider that Stoneofoy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Stoneofoy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Lakin Rose Limited
 
Cambridge House
Camboro Business Park
Girton
Cambridge
CB3 0QH
26 March 2025
Page 1

 
STONEOFOY LIMITED
REGISTERED NUMBER: 10700768

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
72,511
1,904

Current asset investments
 5 
3,838,723
3,954,846

Cash at bank and in hand
 6 
18,146
198,281

  
3,929,380
4,155,031

Creditors: amounts falling due within one year
 7 
(3,870,883)
(4,204,418)

Net current assets/(liabilities)
  
 
 
58,497
 
 
(49,387)

Total assets less current liabilities
  
58,497
(49,387)

Provisions for liabilities
  

Deferred tax
  
(140,398)
(57,816)

  
 
 
(140,398)
 
 
(57,816)

Net liabilities
  
(81,901)
(107,203)


Capital and reserves
  

Called up share capital 
  
1,200
1,200

Profit and loss account
 8 
(83,101)
(108,403)

  
(81,901)
(107,203)


Page 2

 
STONEOFOY LIMITED
REGISTERED NUMBER: 10700768
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 comprehensive income 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 on 25 March 2025.




Mr P J Maskell
Director

The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
STONEOFOY LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
1,200
161,825
163,025



Loss for the year
-
(270,228)
(270,228)



At 1 April 2023
1,200
(108,403)
(107,203)



Profit for the year
-
25,302
25,302


At 31 March 2024
1,200
(83,101)
(81,901)


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
STONEOFOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales.  The registered office is Brierly Place, New London Road, Chelmsford, Essex, CM2 0AP.

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

Going concern

The financial statements have been prepared on the going concern basis which assumes the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the company’s unsecured loans not being called in by the company’s creditors. The directors currently hold these loan notes and have no intention of calling them in for the foreseeable future, and accordingly they believe it appropriate to prepare the financial statements on the going concern basis.

 
2.3

Revenue recognition

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:

Investment income
Interest income from listed investments is recognised using the effective interest method.
Dividend income from listed investments is recognised on the date at which the right to receive payment is established.

 
2.4

Interest income

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

 
2.5

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.

Page 5

 
STONEOFOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Page 6

 
STONEOFOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
2023
£
£


Trade debtors
-
174

Other debtors
72,511
1,730

72,511
1,904



5.


Current asset investments

2024
2023
£
£

Listed investments
3,838,723
3,954,846

3,838,723
3,954,846



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
18,146
198,281

18,146
198,281



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Unsecured loan notes
2,993,827
3,623,827

Trade creditors
3,030
1,980

Corporation tax
8,656
926

Other creditors
-
9,486

Accruals and deferred income
865,370
568,199

3,870,883
4,204,418


Page 7

 
STONEOFOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Reserves

Profit and loss account

At the year end the profit and loss account consists of a realised loss amounting to £522,934 (2023 - £281,164 loss) and an unrealised profit amounting to £439,834 (2023 - £172,761).

 
Page 8