REGISTERED NUMBER: 01627562 (England and Wales)

STONE FOUNDRIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

J C Langham

J Townsend

A D Deves

SECRETARY:

A D Deves

REGISTERED OFFICE:

Binghams Melcombe

Dorchester

Dorset

DT2 7PZ

REGISTERED NUMBER:

01627562 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Argyle BSc ACA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Property, plant and equipment

3

7,506

13,459

Investments

4

330,000

330,000

337,506

343,459

CURRENT ASSETS

Debtors

5

175,064

262,419

Cash at bank

265,392

284,872

440,456

547,291

CREDITORS

Amounts falling due within one year

6

324,958

499,694

NET CURRENT ASSETS

115,498

47,597

TOTAL ASSETS LESS CURRENT LIABILITIES

453,004

391,056

CAPITAL AND RESERVES

Called up share capital

7

250,000

250,000

Retained earnings

203,004

141,056

SHAREHOLDERS' FUNDS

453,004

391,056

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

J C Langham - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is subsidiary of Langham Industries Limited. Consolidated financial statements of Langham Industries Limited can be obtained from:

Companies House

Crown Way

Cardiff

CF14 3UZ

Revenue

Revenue represents sales at invoice value less trade discounts allowed and excluding value added tax. Revenue is recognised upon despatch of goods.

Property, plant and equipment

Property, plant and equipment assets are held at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life.

Leasehold improvements

- 10% on cost

Plant and equipment

- 10% to 20% on cost

Vehicles

- 20% on cost

The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. The estimated useful lives, residual values and depreciation methods are reviewed, and adjustment as appropriate, at the end of each financial year.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the financial reporting date. Transactions in foreign currencies are converted to sterling at the exchange rates ruling at the date of transaction. Gains and losses arising in the normal course of trade are included in the income statement.

Leasing commitments

Assets acquired under finance leases are capitalised, with finance charges being written off to the profit and loss account over the term of the agreement. Payments under operating leases are written off to the profit and loss account over the life of the lease.

Pension costs and other post-retirement benefits

The company is a member of the Langham Industries Group Personal Pension Plan. This Plan is a money purchase scheme and contributions payable for the year are charged to the income statement. Assets for the Plan are held in separate trustee administered funds.

Investments

Fixed asset investments are stated at cost less impairment. Entities are not consolidated where the company does not have control.

Amounts recoverable on contract

Revenue is recognised on contracts when the company has obtained a right to consideration. Revenue recognised in this manner is based on an assessment of the fair value of the goods and services provided at the financial reporting date as a proportion of the total value of the contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

3.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

29,546

DEPRECIATION

At 1 January 2024

16,087

Charge for year

5,953

At 31 December 2024

22,040

NET BOOK VALUE

At 31 December 2024

7,506

At 31 December 2023

13,459

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

330,000

NET BOOK VALUE

At 31 December 2024

330,000

At 31 December 2023

330,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

131,612

187,947

Other debtors and prepayments

7,570

35,765

Amounts owed by related undertakings

7,743

5,578

Deferred tax asset

Accelerated capital allowances

28,139

33,129

175,064

262,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

134

608

Amounts owed to group undertakings

217,962

406,111

Amounts owed to related undertakings

39,437

42,100

Corporation tax

15,498

11,709

Other taxes and social security

14,376

16,154

Other creditors and accruals

37,551

23,012

324,958

499,694

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

250,000

Ordinary

£1

250,000

250,000

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

9.	CONTINGENT LIABILITIES

There are unlimited inter-company guarantees given by the company, nine fellow subsidiary companies and the parent company, in favour of Barclays plc. The total amount secured in respect of fellow group companies as at 31 December 2024, excluding this company, was £181,035 (2023 - £124,578).

There is a contingent liability in respect of warranty claims arising in the normal course of business.

10.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments as shown below.

Minimum lease payments under non-cancellable operating leases fall due as follows :

2024

2023

£

£

Within one year

18,000

18,000

Between two and five year

23,940

41,940

In more than five years

-

-

41,940

59,940

11.	RELATED PARTY DISCLOSURES

During the year Stone Foundries Limited made sales of £63,493 (2023 - £63,066) to a company in which they have a significant interest and made purchases from this company of £662,252 (2023 - £653,125). Stone Foundries Limited received dividends of £100,000 (2023 - £60,000) from the company. At the year end £31,694 (2023 - £36,522) was due to the related company. The balance due is unsecured and repayable on demand.

12.	EVENTS AFTER THE REPORTING PERIOD

A dividend of 70p per Ordinary A share (totalling £175,000) was declared on 17 July 2025. These financial statements do not reflect the dividends payable, which will be accounted for in shareholder's equity as an appropriation of retained earnings in the year ended 31 December 2025.

13.	ULTIMATE PARENT COMPANY

The ultimate parent company is Langham Industries Limited which is registered in England and Wales. The ultimate parent company's registered office is the same as that shown on the company information page.

The ultimate controlling party of Langham Industries Limited is the Langham family.