Company registration number 08806057 (England and Wales)
STONE EDGE NORTH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
STONE EDGE NORTH LIMITED
COMPANY INFORMATION
Directors
Mr R Denneny
Mrs A Denneny
Company number
08806057
Registered office
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Business address
Unit 5a
Millennium Road
Skipton
North Yorkshire
BD23 2TZ
STONE EDGE NORTH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
STONE EDGE NORTH LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
30,170
32,777
Current assets
Stocks
5,000
5,000
Debtors
5
385,140
547,414
Cash at bank and in hand
248,139
198,966
638,279
751,380
Creditors: amounts falling due within one year
6
(220,325)
(365,387)
Net current assets
417,954
385,993
Total assets less current liabilities
448,124
418,770
Creditors: amounts falling due after more than one year
7
-
0
(14,167)
Provisions for liabilities
8
(7,542)
(8,194)
Net assets
440,582
396,409
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
440,581
396,408
Total equity
440,582
396,409
STONE EDGE NORTH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 13 March 2025 and are signed on its behalf by:
Mrs A Denneny
Director
Company registration number 08806057 (England and Wales)
STONE EDGE NORTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Stone Edge North Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
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.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for goods and services provided net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently 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:

Plant and machinery
20% Reducing balance
Fixtures, fittings & equipment
33% Reducing balance

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.

1.5
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

STONE EDGE NORTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

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.

1.7
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 balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
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. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

STONE EDGE NORTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

1.9
Retirement benefits

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

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11

Retentions

Retentions held by customers and held for suppliers are recognised as the work is undertaken to the extent that they are considered recoverable and payable.

2
Employees

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

2024
2023
Number
Number
Total
14
15
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
304,803
Amortisation and impairment
At 1 January 2024 and 31 December 2024
304,803
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
STONE EDGE NORTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
95,173
Additions
10,200
At 31 December 2024
105,373
Depreciation and impairment
At 1 January 2024
62,396
Depreciation charged in the year
12,807
At 31 December 2024
75,203
Carrying amount
At 31 December 2024
30,170
At 31 December 2023
32,777
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
307,177
393,883
Amounts owed by group undertakings
32,762
-
0
Other debtors
45,201
153,531
385,140
547,414
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
14,167
34,000
Trade creditors
139,709
221,120
Amounts owed to group undertakings
-
0
60,938
Corporation tax
44,042
28,480
Other taxation and social security
15,813
14,503
Accruals and deferred income
6,594
6,346
220,325
365,387

The loan outstanding to the company's parent company Racad Limited of £nil (2023 - £60,938) is secured by a charge over the company's assets.

 

The bank loan is a loan provided under the Coronavirus Business Interruption Loan Scheme partially secured by the government.

STONE EDGE NORTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
14,167

The bank loan is a loan provided under the Coronavirus Business Interruption Loan Scheme partially secured by the government.

8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
7,542
8,194
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
46,215
19,848
2024-12-312024-01-01falsefalsefalse13 March 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr R DennenyMrs A Denneny088060572024-01-012024-12-3108806057bus:Director12024-01-012024-12-3108806057bus:Director22024-01-012024-12-3108806057bus:RegisteredOffice2024-01-012024-12-31088060572024-12-31088060572023-12-3108806057core:OtherPropertyPlantEquipment2024-12-3108806057core:OtherPropertyPlantEquipment2023-12-3108806057core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3108806057core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108806057core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3108806057core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3108806057core:CurrentFinancialInstruments2024-12-3108806057core:CurrentFinancialInstruments2023-12-3108806057core:ShareCapital2024-12-3108806057core:ShareCapital2023-12-3108806057core:RetainedEarningsAccumulatedLosses2024-12-3108806057core:RetainedEarningsAccumulatedLosses2023-12-3108806057core:ShareCapitalOrdinaryShareClass12024-12-3108806057core:ShareCapitalOrdinaryShareClass12023-12-3108806057core:PlantMachinery2024-01-012024-12-3108806057core:FurnitureFittings2024-01-012024-12-31088060572023-01-012023-12-3108806057core:NetGoodwill2023-12-3108806057core:NetGoodwill2024-12-3108806057core:NetGoodwill2023-12-3108806057core:OtherPropertyPlantEquipment2023-12-3108806057core:OtherPropertyPlantEquipment2024-01-012024-12-3108806057core:WithinOneYear2024-12-3108806057core:WithinOneYear2023-12-3108806057core:Non-currentFinancialInstruments2024-12-3108806057core:Non-currentFinancialInstruments2023-12-3108806057bus:OrdinaryShareClass12024-01-012024-12-3108806057bus:OrdinaryShareClass12024-12-3108806057bus:OrdinaryShareClass12023-12-3108806057bus:PrivateLimitedCompanyLtd2024-01-012024-12-3108806057bus:FRS1022024-01-012024-12-3108806057bus:AuditExemptWithAccountantsReport2024-01-012024-12-3108806057bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3108806057bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP