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COMPANY REGISTRATION NUMBER: 08745449
STONE & WEBB LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
29 September 2024
STONE & WEBB LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 29 SEPTEMBER 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
STONE & WEBB LIMITED
STATEMENT OF FINANCIAL POSITION
29 September 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
44,848
59,264
CURRENT ASSETS
Stocks
1,242
1,242
Debtors
6
101,177
80,749
Cash at bank and in hand
91,524
187,326
---------
---------
193,943
269,317
CREDITORS: amounts falling due within one year
7
98,962
109,142
---------
---------
NET CURRENT ASSETS
94,981
160,175
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
139,829
219,439
CREDITORS: amounts falling due after more than one year
8
36,998
56,791
PROVISIONS
11,212
14,816
---------
---------
NET ASSETS
91,619
147,832
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
150
150
Profit and loss account
91,469
147,682
--------
---------
SHAREHOLDERS FUNDS
91,619
147,832
--------
---------
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 29 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
STONE & WEBB LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 September 2024
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mr I M Webb
Mr R P Stone
Director
Director
Company registration number: 08745449
STONE & WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 SEPTEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment
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:
Plant & Machinery
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% reducing balance
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 30 September 2023 and 29 September 2024
25,500
68,178
689
94,367
--------
--------
----
--------
Depreciation
At 30 September 2023
17,401
17,044
658
35,103
Charge for the year
1,621
12,784
11
14,416
--------
--------
----
--------
At 29 September 2024
19,022
29,828
669
49,519
--------
--------
----
--------
Carrying amount
At 29 September 2024
6,478
38,350
20
44,848
--------
--------
----
--------
At 29 September 2023
8,099
51,134
31
59,264
--------
--------
----
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
101,177
57,030
Other debtors
23,719
---------
--------
101,177
80,749
---------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
14,523
Trade creditors
20,282
1,187
Corporation tax
35,818
51,143
Social security and other taxes
16,346
26,866
Other creditors
16,516
15,423
--------
---------
98,962
109,142
--------
---------
Included within other creditors are amounts totalling £9,818 (2023 - £9,811) relating to hire purchase agreements which are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,000
20,000
Other creditors
26,998
36,791
--------
--------
36,998
56,791
--------
--------
Included within other creditors are amounts totalling £26,998 (2023 - £36,791) relating to hire purchase agreements which are secured by the company.
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr I M Webb
11,968
19,896
( 31,914)
( 50)
Mr R P Stone
11,751
20,039
( 31,840)
( 50)
--------
--------
--------
----
23,719
39,935
( 63,754)
( 100)
--------
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr I M Webb
( 541)
16,602
( 4,093)
11,968
Mr R P Stone
( 758)
16,602
( 4,093)
11,751
-------
--------
-------
--------
( 1,299)
33,204
( 8,186)
23,719
-------
--------
-------
--------
The loan was repaid within 9 months.