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Registration number: 10844597

Stoneguard (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Stoneguard (Holdings) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Stoneguard (Holdings) Limited

Company Information

Directors

N A Constantinou

A N Constantinou

R Hadjivassiliou

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes
Palmers Green
London
N13 5RY

 

Stoneguard (Holdings) Limited

(Registration number: 10844597)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,535,772

1,557,102

Investments

5

100

100

 

1,535,872

1,557,202

Current assets

 

Debtors

6

398,003

1,371,801

Cash at bank and in hand

 

95,741

170,352

 

493,744

1,542,153

Creditors: Amounts falling due within one year

7

(1,778,641)

(1,563,371)

Net current liabilities

 

(1,284,897)

(21,218)

Total assets less current liabilities

 

250,975

1,535,984

Creditors: Amounts falling due after more than one year

7

(216,182)

(287,037)

Net assets

 

34,793

1,248,947

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

34,693

1,248,847

Shareholders' funds

 

34,793

1,248,947

For the financial year ending 30 September 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 and 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 13 May 2025 and signed on its behalf by:
 

.........................................
A N Constantinou
Director

 

Stoneguard (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
590 Green Lanes
Palmers Green
London
N13 5RY

These financial statements were authorised for issue by the Board on 13 May 2025.

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.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group..

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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:

 

Stoneguard (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Freehold Property

Over 50 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Stoneguard (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2023

1,599,762

1,599,762

At 30 September 2024

1,599,762

1,599,762

Depreciation

At 1 October 2023

42,660

42,660

Charge for the year

21,330

21,330

At 30 September 2024

63,990

63,990

Carrying amount

At 30 September 2024

1,535,772

1,535,772

At 30 September 2023

1,557,102

1,557,102

Included within the net book value of land and buildings above is £1,535,772 (2023 - £1,557,102) in respect of freehold land and buildings.
 

 

Stoneguard (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 October 2023

100

Provision

Carrying amount

At 30 September 2024

100

At 30 September 2023

100

 

Stoneguard (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Stoneguard Projects Ltd

590 Green Lanes,
London,
N13 5RY

Ordinary shares

100%

100%

 

UK

     

The principal activity of Stoneguard Projects Ltd is the provision of specialist building contractor services. The profit for the financial period of Stoneguard Projects Ltd was £444,937 and the aggregate amount of capital and reserves at the end of the period was £2,723,215.



 

6

Debtors

2024
£

2023
£

Other debtors

398,003

1,371,801

398,003

1,371,801

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

116

116

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,429,889

1,496,428

Director loan account

17,393

-

Other loans

71,243

66,827

Other creditors

260,000

-

1,778,641

1,563,371


The loan is secured by a fixed and floating charge over the assets of the company.

 

Stoneguard (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Other loans

216,182

287,037


The loan is secured by a fixed and floating charge over the assets of the company.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Dividends

2024

2023

£

£

Interim dividend of £13,000.00 (2023 - £1,700.00) per ordinary share

1,300,000

170,000

 

 

10

Related party transactions

Summary of transactions with other related parties


Included in creditors is an amount of £1,429,889 (2023: £1,496,428) owed to Stoneguard Projects Ltd, a wholly owned subsidiary.