Cunningham Stone Limited NI694660 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Cutting, shaping and finishing of stone Digita Accounts Production Advanced 6.30.9574.0 true NI694660 2024-04-01 2025-03-31 NI694660 2025-03-31 NI694660 bus:Director1 1 2025-03-31 NI694660 bus:OrdinaryShareClass1 2025-03-31 NI694660 core:CurrentFinancialInstruments 2025-03-31 NI694660 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 NI694660 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 NI694660 core:FurnitureFittingsToolsEquipment 2025-03-31 NI694660 core:MotorVehicles 2025-03-31 NI694660 bus:SmallEntities 2024-04-01 2025-03-31 NI694660 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 NI694660 bus:FilletedAccounts 2024-04-01 2025-03-31 NI694660 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 NI694660 bus:RegisteredOffice 2024-04-01 2025-03-31 NI694660 bus:Director1 2024-04-01 2025-03-31 NI694660 bus:Director1 1 2024-04-01 2025-03-31 NI694660 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 NI694660 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 NI694660 bus:Agent1 2024-04-01 2025-03-31 NI694660 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 NI694660 core:MotorVehicles 2024-04-01 2025-03-31 NI694660 core:PlantMachinery 2024-04-01 2025-03-31 NI694660 countries:NorthernIreland 2024-04-01 2025-03-31 NI694660 bus:Director1 1 2024-03-31 NI694660 2023-02-17 2024-03-31 NI694660 2024-03-31 NI694660 bus:Director1 1 2024-03-31 NI694660 bus:OrdinaryShareClass1 2024-03-31 NI694660 core:CurrentFinancialInstruments 2024-03-31 NI694660 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI694660 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI694660 bus:Director1 1 2023-02-17 2024-03-31 NI694660 bus:Director1 1 2023-02-16 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI694660

Cunningham Stone Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Cunningham Stone Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Cunningham Stone Limited

Company Information

Director

Caroline Cunningham

Registered office

9 Thornhill Avenue
Lisburn
BT28 3EE

Bankers

The Co-Operative Bank
Central Commercial Branch

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Cunningham Stone Limited

(Registration number: NI694660)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

28,662

-

Current assets

 

Stocks

5

82,225

65,128

Debtors

6

39,790

43,484

Cash at bank and in hand

 

43,795

49,230

 

165,810

157,842

Creditors: Amounts falling due within one year

7

(105,012)

(110,294)

Net current assets

 

60,798

47,548

Total assets less current liabilities

 

89,460

47,548

Creditors: Amounts falling due after more than one year

7

(15,766)

-

Provisions for liabilities

(5,446)

-

Net assets

 

68,248

47,548

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

68,148

47,448

Shareholders' funds

 

68,248

47,548

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 June 2025
 

.........................................
Caroline Cunningham
Director

   
     
 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
9 Thornhill Avenue
Lisburn
BT28 3EE

These financial statements were authorised for issue by the director on 18 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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 balance sheet 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

Plant & Machinery

20% reducing balance

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.

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.

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 the director) during the year, was 8 (2024 - 5).

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

2,630

33,198

35,828

At 31 March 2025

2,630

33,198

35,828

Depreciation

Charge for the year

526

6,640

7,166

At 31 March 2025

526

6,640

7,166

Carrying amount

At 31 March 2025

2,104

26,558

28,662

5

Stocks

2025
£

2024
£

Other inventories

82,225

65,128

6

Debtors

Current

2025
£

2024
£

Trade debtors

11,162

4,038

Other debtors

28,628

39,446

 

39,790

43,484

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

7,568

-

Trade creditors

 

19,832

37,522

Taxation and social security

 

12,404

16,995

Accruals and deferred income

 

55,689

44,500

Other creditors

 

9,519

11,277

 

105,012

110,294

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

15,766

-

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Other borrowings

Hire purchase is denominated in Sterling with a nominal interest rate of 7.9%, and the final instalment is due on 30 April 2028. The carrying amount at year end is £23,333 (2024 - £Nil).

10

Dividends

2025

2024

£

£

Interim dividend of £Nil (2024 - £1,000.00) per ordinary share

19,000

1,000

 

 

11

Related party transactions

Key management compensation

2025
£

2024
£

Salaries and other short term employee benefits

31,197

64,038

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Transactions with the director

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Caroline Cunningham

Director's current account

(11,276)

68,833

(53,226)

4,331

2024

At 17 February 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Caroline Cunningham

Director's current account

-

67,142

(78,418)

(11,276)

 

Cunningham Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

31,197

64,038

Contributions paid to money purchase schemes

7,000

6,000

38,197

70,038

Dividends paid to the director

2025
£

2024
£

Caroline Cunningham

Interim diivdend in current year

19,000

1,000