8 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06199291 2024-04-01 2025-03-31 06199291 2025-03-31 06199291 2024-03-31 06199291 2023-04-01 2024-03-31 06199291 2024-03-31 06199291 2023-03-31 06199291 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 06199291 core:FurnitureFittings 2024-04-01 2025-03-31 06199291 core:MotorVehicles 2024-04-01 2025-03-31 06199291 bus:Director1 2024-04-01 2025-03-31 06199291 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06199291 core:PlantMachinery 2024-03-31 06199291 core:FurnitureFittings 2024-03-31 06199291 core:MotorVehicles 2024-03-31 06199291 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 06199291 core:PlantMachinery 2025-03-31 06199291 core:FurnitureFittings 2025-03-31 06199291 core:MotorVehicles 2025-03-31 06199291 core:PlantMachinery 2024-04-01 2025-03-31 06199291 core:WithinOneYear 2025-03-31 06199291 core:WithinOneYear 2024-03-31 06199291 core:AfterOneYear 2025-03-31 06199291 core:AfterOneYear 2024-03-31 06199291 core:ShareCapital 2025-03-31 06199291 core:ShareCapital 2024-03-31 06199291 core:RetainedEarningsAccumulatedLosses 2025-03-31 06199291 core:RetainedEarningsAccumulatedLosses 2024-03-31 06199291 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06199291 core:PlantMachinery 2024-03-31 06199291 core:FurnitureFittings 2024-03-31 06199291 core:MotorVehicles 2024-03-31 06199291 bus:Director1 2024-03-31 06199291 bus:Director1 2023-03-31 06199291 bus:SmallEntities 2024-04-01 2025-03-31 06199291 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 06199291 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06199291 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06199291 bus:FullAccounts 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 06199291
Stonerite Ltd
Filleted Unaudited Financial Statements
31 March 2025
Stonerite Ltd
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
615,055
515,108
Current assets
Stocks
79,558
140,000
Debtors
6
137,592
127,448
Cash at bank and in hand
176,104
138,327
---------
---------
393,254
405,775
Creditors: amounts falling due within one year
7
( 86,128)
( 129,493)
---------
---------
Net current assets
307,126
276,282
---------
---------
Total assets less current liabilities
922,181
791,390
Creditors: amounts falling due after more than one year
8
( 245,295)
( 191,455)
Provisions
Taxation including deferred tax
( 50,748)
( 41,787)
---------
---------
Net assets
626,138
558,148
---------
---------
Stonerite Ltd
Statement of Financial Position (continued)
31 March 2025
2025
2024
Note
£
£
£
Capital and reserves
Called up share capital
20,850
20,850
Profit and loss account
605,288
537,298
---------
---------
Shareholders funds
626,138
558,148
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:
N J Hinchly
Director
Company registration number: 06199291
Stonerite Ltd
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6a, Greenway, Bedwas House Industrial Estate, Caerphilly, CF83 8DW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, and the amount of revenue can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Buildings
-
2% straight line
Plant and Machinery
-
10%/20% straight line
Fixtures and Fittings
-
20% straight line
Motor Vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
358,459
591,697
15,321
53,985
1,019,462
Additions
152,500
152,500
---------
---------
--------
--------
------------
At 31 March 2025
358,459
744,197
15,321
53,985
1,171,962
---------
---------
--------
--------
------------
Depreciation
At 1 April 2024
21,000
432,638
14,471
36,245
504,354
Charge for the year
3,500
36,569
325
12,159
52,553
---------
---------
--------
--------
------------
At 31 March 2025
24,500
469,207
14,796
48,404
556,907
---------
---------
--------
--------
------------
Carrying amount
At 31 March 2025
333,959
274,990
525
5,581
615,055
---------
---------
--------
--------
------------
At 31 March 2024
337,459
159,059
850
17,740
515,108
---------
---------
--------
--------
------------
6. Debtors
2025
2024
£
£
Trade debtors
88,706
78,562
Other debtors
48,886
48,886
---------
---------
137,592
127,448
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
26,057
23,783
Trade creditors
259
21,258
Corporation tax
2,613
30,554
Social security and other taxes
33,444
50,033
Other creditors
23,755
3,865
--------
---------
86,128
129,493
--------
---------
Bank loans of £14,023 (2024: £13,600) are secured on the assets of the company. Included in other creditors is an amount of £19,962 (2024: £NIL) owed under hire purchase agreements.
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
166,853
191,455
Other creditors
78,442
---------
---------
245,295
191,455
---------
---------
Bank loans of £1164,191 (2024: £178,353) are secured on the assets of the company.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2025
2024
£
£
N J Hinchly
35,000
35,000
--------
--------