Company registration number 00459627 (England and Wales)
STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Information for management
-
STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
467,881
429,813
Current assets
Stocks
167,661
153,961
Debtors
4
240,009
203,889
Cash at bank and in hand
33
16,005
407,703
373,855
Creditors: amounts falling due within one year
5
(254,156)
(237,600)
Net current assets
153,547
136,255
Total assets less current liabilities
621,428
566,068
Creditors: amounts falling due after more than one year
6
(98,995)
(14,128)
Provisions for liabilities
(7,961)
(10,267)
Net assets
514,472
541,673
Capital and reserves
Called up share capital
7
5,000
5,000
Revaluation reserve
8
221,798
227,617
Profit and loss reserves
287,674
309,056
Total equity
514,472
541,673

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
C G Stonehouse
Mrs C J Stonehouse
Director
Director
S C Stonehouse
Director
Company registration number 00459627 (England and Wales)
STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Stonehouse Tablet Manufacturing Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nottingham Road, Attenborough, Nottinghamshire, NG9 6DT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the manufacture of tablets provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% per annum of cost
Plant and machinery
25% per annum of net book value
Fixtures, fittings & equipment
25% per annum of cost
Computer equipment
33% per annum of cost
Motor vehicles
25% per annum of net book value

The company adopted the transition exemption under FRS 102 paragraph 35.10 (d) and elected to use a previous valuation as the deemed cost for the freehold property held at the date of transition to FRS 102.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

1.6
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.8
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in the profit and loss account .

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
3
Tangible fixed assets
Freehold land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 October 2023
432,301
838,362
1,270,663
Additions
22,370
58,379
80,749
Disposals
-
0
(237)
(237)
At 30 September 2024
454,671
896,504
1,351,175
Depreciation and impairment
At 1 October 2023
51,146
789,704
840,850
Depreciation charged in the year
9,093
33,588
42,681
Eliminated in respect of disposals
-
0
(237)
(237)
At 30 September 2024
60,239
823,055
883,294
Carrying amount
At 30 September 2024
394,432
73,449
467,881
At 30 September 2023
381,155
48,658
429,813

The company adopted the transition exemption under FRS 102 paragraph 35.10 (d) and elected to use a previous valuation as the deemed cost for the freehold property held at the date of transition to FRS 102. The freehold property was revalued in 2017 on the basis of existing use value by Mather Jamie Chartered Surveyors, independent qualified valuers. The resulting valuation adjustments were taken to the revaluation reserve.

STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
3
Tangible fixed assets
(Continued)
- 6 -

The comparable historic cost of the freehold property that has been valued using the deemed cost exemption at the date of transition to FRS 102 is as follows:

2024
2023
£
£
Cost
254,055
224,384
Accumulated depreciation
(93,434)
(93,288)
Carrying value
160,621
131,096
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
223,809
192,063
Other debtors
25
-
0
Prepayments and accrued income
16,175
11,826
240,009
203,889
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21,933
3,353
Obligations under finance leases
17,029
12,406
Trade creditors
128,404
111,215
Corporation tax
28,784
36,078
Other taxation and social security
47,737
56,244
Other creditors
1,911
9,596
Accruals and deferred income
8,358
8,708
254,156
237,600

All bank borrowings are secured by a fixed and floating charge over the assets of the company. Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate. The aggregate amount of creditors included above for which security has been given amounted to £38,962 (2023 - £15,759).

STONEHOUSE TABLET MANUFACTURING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
64,660
-
0
Obligations under finance leases
34,335
14,128
98,995
14,128

All bank borrowings are secured by a fixed and floating charge over the assets of the company . Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate. The aggregate amount of creditors included above for which security has been given amounted to £98,995 (2023 - £14,128).

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4,997
4,997
4,997
4,997
Ordinary 'A' share of £1 each
1
1
1
1
Ordinary 'B' share of £1 each
1
1
1
1
Ordinary 'C' share of £1 each
1
1
1
1
5,000
5,000
5,000
5,000
8
Revaluation reserve
2024
2023
£
£
At the beginning of the year
227,617
233,436
Transfer to retained earnings
(5,819)
(5,819)
At the end of the year
221,798
227,617
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