Registration number: 02026164

Southern Counties Marble and Granite Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Southern Counties Marble and Granite Limited

(Registration number: 02026164)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	681,105	734,837
Current assets
Stocks	5	139,998	135,331
Debtors	6	89,900	79,489
Cash at bank and in hand		443,222	519,798
		673,120	734,618
Creditors: Amounts falling due within one year	7	(281,710)	(286,712)
Net current assets		391,410	447,906
Total assets less current liabilities		1,072,515	1,182,743
Creditors: Amounts falling due after more than one year	7	(252,383)	(287,296)
Provisions for liabilities		(60,225)	(74,083)
Net assets		759,907	821,364
Capital and reserves
Called up share capital		50	50
Other reserves		50	50
Retained earnings		759,807	821,264
Shareholders' funds		759,907	821,364

Southern Counties Marble and Granite Limited

(Registration number: 02026164)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

......................................... Mrs K L Turner Company secretary and director

Southern Counties Marble and Granite Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Southern Counties Marble and Granite Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum of net book value
Motor vehicles	25% per annum of net book value
Property improvements	10% per annum of cost
Freehold property	2% per annum of cost

Debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Southern Counties Marble and Granite Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 13).

4	Tangible assets

	Land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	462,407	688,672	200,218	1,351,297
Additions	3,700	1,289	29,000	33,989
Disposals	-	-	(44,960)	(44,960)
At 31 December 2024	466,107	689,961	184,258	1,340,326
Depreciation
At 1 January 2024	23,901	454,115	138,444	616,460
Charge for the year	1,998	63,010	21,916	86,924
Eliminated on disposal	-	-	(44,163)	(44,163)
At 31 December 2024	25,899	517,125	116,197	659,221
Carrying amount
At 31 December 2024	440,208	172,836	68,061	681,105
At 31 December 2023	438,506	234,557	61,774	734,837

Included within the net book value of land and buildings above is £440,208 (2023 - £438,506) in respect of freehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Other inventories	139,998	135,331

6

Debtors

Southern Counties Marble and Granite Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Current	Note	2024 £	2023 £
Trade debtors		61,554	49,694
Amounts owed by related parties	10	17,819	17,819
Prepayments		10,414	11,274
Other debtors		113	702
		89,900	79,489

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	48,568	41,525
Trade creditors		69,833	153,450
Taxation and social security		123,506	46,821
Other creditors		39,803	44,916
		281,710	286,712