Company registration number 15489451 (England and Wales)
PRECISION STONE SURFACES LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PRECISION STONE SURFACES LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
PRECISION STONE SURFACES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
Notes
£
£
Current assets
Trade and other receivables
4
100
Net current assets
100
Equity
-
Called up share capital
100

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Mr M J Milner
Director
Company registration number 15489451 (England and Wales)
PRECISION STONE SURFACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Precision Stone Surfaces Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 1 & 2, Walker Industrial Park, Frith Knoll Road, Chapel-En-Le-Frith, High Peak, Derbyshire, SK23 0PG.

1.1
Reporting period

The company has prepared its first financial statements from incorporation on 14th February 2024 to 30 September 2024 to bring it in line with its parent.

1.2
Accounting convention

These financial statements have been prepared in accordance with 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. The principal accounting policies adopted are set out below.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

All assets were acquired and disposed on the same day and therefore no depreciation was applied.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PRECISION STONE SURFACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

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

2024
Number
Total
5

All personnel providing services to the company are employed under contracts with another group company, Natural Stone Surfaces Limited.

3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 14 February 2024
-
0
Additions
276,010
Disposals
(276,010)
At 30 September 2024
-
0
Depreciation and impairment
At 14 February 2024 and 30 September 2024
-
0
Carrying amount
At 30 September 2024
-
0
4
Trade and other receivables
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
100
PRECISION STONE SURFACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Matthew Pace ACA
Statutory Auditor:
Josolyne LLP
Date of audit report:
28 March 2025
6
Acquisition

On 19 February 2024 the company acquired the trade and assets of Prescision Stone Limited.

Fair Value
£
Property, plant and equipment
276,010
Inventories
107,000
Trade and other receivables
22,562
Total identifiable net assets
405,572
Goodwill
168,002
Total consideration
573,574
Satisfied by:
£
Cash
573,574

The goodwill arising on the acquisition of the business is attributable to the anticipated profitability of the distribution of the company's products and the future operating synergies from the combination

All of the assets and goodwill purchased were hived up to the company's parent company NSS Holdings by way of intra-group transfer.

2024-09-302024-02-14false28 March 2025CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedMr M J MilnerMr D A RoyMr P  MelchionnoMr E  FarrellyMr C J Hillfalsefalse154894512024-02-142024-09-30154894512024-09-3015489451core:ShareCapital2024-09-3015489451bus:Director12024-02-142024-09-3015489451core:OtherPropertyPlantEquipment2024-02-1315489451core:OtherPropertyPlantEquipment2024-09-3015489451core:OtherPropertyPlantEquipment2024-02-142024-09-3015489451bus:PrivateLimitedCompanyLtd2024-02-142024-09-3015489451bus:SmallCompaniesRegimeForAccounts2024-02-142024-09-3015489451bus:FRS1022024-02-142024-09-3015489451bus:Audited2024-02-142024-09-3015489451bus:Director22024-02-142024-09-3015489451bus:Director32024-02-142024-09-3015489451bus:Director42024-02-142024-09-3015489451bus:Director52024-02-142024-09-3015489451bus:FullAccounts2024-02-142024-09-30xbrli:purexbrli:sharesiso4217:GBP