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Registration number: 04393050

Stonecutters Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

Stonecutters Limited

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 9

 

Stonecutters Limited

Company Information

Directors

Mr Michael William Murphy

Mrs Linda Rose Murphy

Company secretary

Mrs Linda Rose Murphy

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Stonecutters Limited

(Registration number: 04393050)
Statement of financial position as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

3,450

4,166

Other financial assets

6

98,480

99,252

 

101,930

103,418

Current assets

 

Stocks

7

86,621

75,861

Debtors

8

114,466

142,352

Cash at bank and in hand

 

322,901

288,765

 

523,988

506,978

Creditors: Amounts falling due within one year

9

(85,991)

(41,829)

Net current assets

 

437,997

465,149

Total assets less current liabilities

 

539,927

568,567

Provisions for liabilities

(647)

(827)

Net assets

 

539,280

567,740

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

539,180

567,640

Shareholders' funds

 

539,280

567,740

For the financial year ending 30 April 2025 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 Statement of comprehensive income.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 

.........................................
Mr Michael William Murphy
Director

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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:
19 King Street
King's Lynn
Norfolk
PE30 1HB

The principal place of business is:
The Shooting Box
Church Street
North Creake
Fakenham
Norfolk
NR21 9JQ

These financial statements were authorised for issue by the Board on 12 June 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Reducing balance

Motor vehicles

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4

Intangible assets

Cost or valuation

Amortisation

Carrying amount

At 30 April 2025

5

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2024

37,268

15,823

53,091

Additions

433

-

433

At 30 April 2025

37,701

15,823

53,524

Depreciation

At 1 May 2024

33,181

15,744

48,925

Charge for the year

1,129

20

1,149

At 30 April 2025

34,310

15,764

50,074

Carrying amount

At 30 April 2025

3,391

59

3,450

At 30 April 2024

4,087

79

4,166

6

Other financial assets (current and non-current)

General Investment Fund
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2024

98,480

98,480

At 30 April 2025

98,480

98,480

Impairment

Carrying amount

At 30 April 2025

98,480

98,480

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Stocks

2025
£

2024
£

Other inventories

86,621

75,861

8

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

4,650

32,290

Amounts owed by related parties

11

109,604

109,604

Prepayments

 

212

458

   

114,466

142,352

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

9

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

2,396

527

Amounts due to related parties

11

7,584

7,584

Social security and other taxes

 

4,040

3,596

Other payables

 

60,680

3,109

Accruals

 

1,705

1,670

Tax liability

9,315

16,906

Gross amount due to customers for contract work

 

271

8,437

 

85,991

41,829

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary A of £1 each

45

45

45

45

Ordinary B of £1 each

45

45

45

45

Ordinary C of £1 each

10

10

10

10

100

100

100

100

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

11

Related party transactions

Summary of transactions with all entities with joint control or significant interest

Kitchens etc Goods and services

Income and receivables from related parties

2025

Entities with joint control or significant influence
£

Sale of goods

69,280

 

Stonecutters Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

2024

Entities with joint control or significant influence
£

Sale of goods

107,360

Loans to related parties

2025

Entities with joint control or significant influence
£

Total
£

At start of period

109,605

109,605

At end of period

109,605

109,605

2024

Entities with joint control or significant influence
£

Total
£

At start of period

86,862

86,862

Advanced

22,743

22,743

At end of period

109,605

109,605