Registered number
02951627
Pinestone Ltd
Unaudited Filleted Accounts
31 December 2024
Pinestone Ltd
Registered number: 02951627
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 193,967 201,530
Current assets
Debtors 5 1,150,291 1,004,659
Cash at bank and in hand 260,695 259,777
1,410,986 1,264,436
Creditors: amounts falling due within one year 6 (170,070) (151,950)
Net current assets 1,240,916 1,112,486
Total assets less current liabilities 1,434,883 1,314,016
Provisions for liabilities (5,780) (6,024)
Net assets 1,429,103 1,307,992
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,429,101 1,307,990
Shareholders' funds 1,429,103 1,307,992
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs. S Turner
Director
Approved by the board on 16 May 2025
Pinestone Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 50 years
Fixtures and equipment 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 36 38
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 185,000
At 31 December 2024 185,000
Amortisation
At 1 January 2024 185,000
At 31 December 2024 185,000
Net book value
At 31 December 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Fixtures and equipment Total
£ £ £
Cost
At 1 January 2024 329,264 316,968 646,232
Additions - 6,707 6,707
At 31 December 2024 329,264 323,675 652,939
Depreciation
At 1 January 2024 151,829 292,873 444,702
Charge for the year 6,585 7,685 14,270
At 31 December 2024 158,414 300,558 458,972
Net book value
At 31 December 2024 170,850 23,117 193,967
At 31 December 2023 177,435 24,095 201,530
5 Debtors 2024 2023
£ £
Trade debtors 35,160 31,629
Heathercliffe Residential Holdings Ltd 1,115,131 973,030
1,150,291 1,004,659
6 Creditors: amounts falling due within one year 2024 2023
£ £
Director's account 172 172
Taxation and social security costs 88,967 69,052
Trade creditors and accrued expenses 80,931 82,726
170,070 151,950
7 Controlling party
The parent undertaking is Heathercliffe Residential Holdings Ltd, a company registered in the UK.
Heatherclffe Residential Holdings Ltd is jointly controlled by Mrs. S. Turner and L. Turner.
8 Other information
Pinestone Ltd is a private company limited by shares and incorporated in England. Its registered office is:
23 Old Hall Road
Salford
M7 4JJ
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