Registration number: 5783507

Elliott & Stone Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Elliott & Stone Limited

Company Information

Director

Mrs Joanne Stone

Registered office

Castle Mania Coquet Enterprise Park Amble Morpeth Northumberland NE65 0PE

Accountants

AMT Business (Northumbria) Ltd Ground Floor Lion House Willowburn Trading Estate Alnwick Northumberland NE66 2PF

Elliott & Stone Limited

(Registration number: 5783507)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	360,653	357,329
Current assets
Stocks	6	2,000	2,000
Debtors	7	-	8,420
Cash at bank and in hand		11,137	2,011
		13,137	12,431
Creditors: Amounts falling due within one year	8	(54,484)	(55,471)
Net current liabilities		(41,347)	(43,040)
Total assets less current liabilities		319,306	314,289
Creditors: Amounts falling due after more than one year	8	(212,265)	(204,747)
Net assets		107,041	109,542
Capital and reserves
Called up share capital	9	100	100
Retained earnings		106,941	109,442
Shareholders' funds		107,041	109,542

For the financial 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.

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 31 August 2025
 

......................................... Mrs Joanne Stone Director

Elliott & Stone Limited

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

1	General information

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

The address of its registered office is:
Castle Mania
Coquet Enterprise Park
Amble
Morpeth
Northumberland
NE65 0PE
United Kingdom

These financial statements were authorised for issue by the director on 31 August 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Tax

The tax expense for the period comprises current 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.

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.

Elliott & Stone Limited

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

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
Fixture & Fittings	10% RB

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 Years

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.

Elliott & Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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.

Elliott & Stone Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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 11 (2024 - 11).

Elliott & Stone Limited

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

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 June 2024	40,000	40,000
At 31 May 2025	40,000	40,000
Amortisation
At 1 June 2024	40,000	40,000
At 31 May 2025	40,000	40,000
Carrying amount
At 31 May 2025	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 June 2024	328,434	139,669	3,832	471,935
Additions	-	6,898	-	6,898
At 31 May 2025	328,434	146,567	3,832	478,833
Depreciation
At 1 June 2024	-	112,666	1,940	114,606
Charge for the year	-	2,808	766	3,574
At 31 May 2025	-	115,474	2,706	118,180
Carrying amount
At 31 May 2025	328,434	31,093	1,126	360,653
At 31 May 2024	328,434	27,003	1,892	357,329

Included within the net book value of land and buildings above is £328,434 (2024 - £328,434) in respect of freehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Other inventories	2,000	2,000

Elliott & Stone Limited

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

7

Debtors

Current	2025 £	2024 £
Other debtors	-	8,420
	-	8,420

Elliott & Stone Limited

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	15,000	15,000
Trade creditors		6,106	3,686
Taxation and social security		23,728	30,913
Accruals and deferred income		1,275	1,200
Other creditors		4,629	4,672
Amounts due to related parties		3,746	-
		54,484	55,471