0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 01891669 2024-06-01 2025-05-31 01891669 2025-05-31 01891669 2024-05-31 01891669 2023-06-01 2024-05-31 01891669 2024-05-31 01891669 2023-05-31 01891669 core:PlantMachinery 2024-06-01 2025-05-31 01891669 core:MotorVehicles 2024-06-01 2025-05-31 01891669 bus:Director4 2024-06-01 2025-05-31 01891669 core:PlantMachinery 2024-05-31 01891669 core:MotorVehicles 2024-05-31 01891669 core:LandBuildings 2025-05-31 01891669 core:PlantMachinery 2025-05-31 01891669 core:MotorVehicles 2025-05-31 01891669 core:WithinOneYear 2025-05-31 01891669 core:WithinOneYear 2024-05-31 01891669 core:AfterOneYear 2024-05-31 01891669 core:ShareCapital 2025-05-31 01891669 core:ShareCapital 2024-05-31 01891669 core:OtherReservesSubtotal 2025-05-31 01891669 core:OtherReservesSubtotal 2024-05-31 01891669 core:RetainedEarningsAccumulatedLosses 2025-05-31 01891669 core:RetainedEarningsAccumulatedLosses 2024-05-31 01891669 core:LandBuildings 2024-05-31 01891669 core:PlantMachinery 2024-05-31 01891669 core:MotorVehicles 2024-05-31 01891669 bus:SmallEntities 2024-06-01 2025-05-31 01891669 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 01891669 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 01891669 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 01891669 bus:FullAccounts 2024-06-01 2025-05-31
COMPANY REGISTRATION NUMBER: 01891669
Stonestile Limited
Filleted Unaudited Financial Statements
31 May 2025
Stonestile Limited
Statement of Financial Position
31 May 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
4
481,247
481,520
Current assets
Debtors
5
334
333
Cash at bank and in hand
210,049
307,285
----------
----------
210,383
307,618
Creditors: amounts falling due within one year
6
72,223
127,631
----------
----------
Net current assets
138,160
179,987
----------
----------
Total assets less current liabilities
619,407
661,507
Creditors: amounts falling due after more than one year
7
54,015
Provisions
Taxation including deferred tax
69,704
69,756
----------
----------
Net assets
549,703
537,736
----------
----------
Stonestile Limited
Statement of Financial Position (continued)
31 May 2025
2025
2024
Note
£
£
Capital and reserves
Called up share capital
1,000
1,000
Other reserves
281,860
281,860
Profit and loss account
266,843
254,876
----------
----------
Shareholders funds
549,703
537,736
----------
----------
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 comprehensive income has not been delivered.
For the year ending 31 May 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 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 .
These financial statements were approved by the board of directors and authorised for issue on 19 August 2025 , and are signed on behalf of the board by:
David Dyer
Director
Company registration number: 01891669
Stonestile Limited
Notes to the Financial Statements
Year ended 31 May 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 6 Clinton Avenue, Nottingham, NG5 1AW.
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.
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 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
15% reducing balance
Motor Vehicles
-
25% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2024 and 31 May 2025
480,000
8,500
8,500
497,000
----------
-------
-------
----------
Depreciation
At 1 June 2024
7,428
8,052
15,480
Charge for the year
161
112
273
----------
-------
-------
----------
At 31 May 2025
7,589
8,164
15,753
----------
-------
-------
----------
Carrying amount
At 31 May 2025
480,000
911
336
481,247
----------
-------
-------
----------
At 31 May 2024
480,000
1,072
448
481,520
----------
-------
-------
----------
5. Debtors
2025
2024
£
£
Other debtors
334
333
----
----
6. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
3,211
52,603
Director's loan account
67,524
73,324
Other creditors
1,488
1,704
---------
----------
72,223
127,631
---------
----------
7. Creditors: amounts falling due after more than one year
2025
2024
£
£
Director's loan account
54,015
----
---------
8. Related party transactions
The company is controlled by the directors. The directors have lent money to the company during the year on an interest free unsecured basis. The amount outstanding on this loan at the year end was £67,524 (2024 : £127,339).