Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Mr P Stone 11/01/2007 Mrs J Stone 11/01/2007 09 June 2025 The principal activity of the company continued to be that of the manufacture of doors and bespoke joinery. 06048379 2024-11-30 06048379 bus:Director1 2024-11-30 06048379 bus:Director2 2024-11-30 06048379 2023-11-30 06048379 core:CurrentFinancialInstruments 2024-11-30 06048379 core:CurrentFinancialInstruments 2023-11-30 06048379 core:Non-currentFinancialInstruments 2024-11-30 06048379 core:Non-currentFinancialInstruments 2023-11-30 06048379 core:ShareCapital 2024-11-30 06048379 core:ShareCapital 2023-11-30 06048379 core:RetainedEarningsAccumulatedLosses 2024-11-30 06048379 core:RetainedEarningsAccumulatedLosses 2023-11-30 06048379 core:Goodwill 2023-11-30 06048379 core:Goodwill 2024-11-30 06048379 core:OtherPropertyPlantEquipment 2023-11-30 06048379 core:OtherPropertyPlantEquipment 2024-11-30 06048379 bus:OrdinaryShareClass1 2024-11-30 06048379 bus:OrdinaryShareClass2 2024-11-30 06048379 2023-12-01 2024-11-30 06048379 bus:FilletedAccounts 2023-12-01 2024-11-30 06048379 bus:SmallEntities 2023-12-01 2024-11-30 06048379 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 06048379 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 06048379 bus:Director1 2023-12-01 2024-11-30 06048379 bus:Director2 2023-12-01 2024-11-30 06048379 core:Goodwill core:TopRangeValue 2023-12-01 2024-11-30 06048379 core:Goodwill 2023-12-01 2024-11-30 06048379 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 06048379 2022-12-01 2023-11-30 06048379 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 06048379 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 06048379 bus:OrdinaryShareClass2 2023-12-01 2024-11-30 06048379 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06048379 (England and Wales)

J P STONE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

J P STONE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024

Contents

J P STONE LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
J P STONE LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
DIRECTORS Mr P Stone
Mrs J Stone
SECRETARY Mrs J Stone
REGISTERED OFFICE 2nd Floor
201 Great Portland Street
Marylebone
London
W1W 5AB
United Kingdom
COMPANY NUMBER 06048379 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
2nd Floor
201 Great Portland Street
Marylebone
London
W1W 5AB
United Kingdom
J P STONE LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2024
J P STONE LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 44,845 53,085
44,845 53,085
Current assets
Stocks 69,239 61,002
Debtors 6 97,798 66,601
Cash at bank and in hand 21,573 25,129
188,610 152,732
Creditors: amounts falling due within one year 7 ( 119,141) ( 85,020)
Net current assets 69,469 67,712
Total assets less current liabilities 114,314 120,797
Creditors: amounts falling due after more than one year 8 ( 24,747) ( 34,430)
Provision for liabilities ( 8,521) ( 10,087)
Net assets 81,046 76,280
Capital and reserves
Called-up share capital 9 1,176 1,176
Profit and loss account 79,870 75,104
Total shareholders' funds 81,046 76,280

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J P Stone Limited (registered number: 06048379) were approved and authorised for issue by the Board of Directors on 09 June 2025. They were signed on its behalf by:

Mrs J Stone
Director
J P STONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
J P STONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J P Stone Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, 201 Great Portland Street, Marylebone, London, W1W 5AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 9

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2023 25,000 25,000
At 30 November 2024 25,000 25,000
Accumulated amortisation
At 01 December 2023 25,000 25,000
At 30 November 2024 25,000 25,000
Net book value
At 30 November 2024 0 0
At 30 November 2023 0 0

5. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2023 145,864 145,864
At 30 November 2024 145,864 145,864
Accumulated depreciation
At 01 December 2023 92,779 92,779
Charge for the financial year 8,239 8,239
At 30 November 2024 101,019 101,019
Net book value
At 30 November 2024 44,845 44,845
At 30 November 2023 53,085 53,085

6. Debtors

2024 2023
£ £
Trade debtors 97,600 63,558
Other debtors 198 3,043
97,798 66,601

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 12,180 10,014
Trade creditors 61,167 46,222
Corporation tax 3,016 2,038
Other taxation and social security 30,120 24,018
Other creditors 12,658 2,728
119,141 85,020

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,091 23,274
Other creditors 11,656 11,156
24,747 34,430

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100,000 Ordinary A shares of £ 0.01 each 1,000 1,000
17,646 Ordinary B shares of £ 0.01 each 176 176
1,176 1,176