Lapicida Stone Group Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07540165

Lapicida Stone Group Limited

Filleted Unaudited Financial Statements

31 March 2025

Lapicida Stone Group Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6	587,262	366,287
Investments	7	804,004	804,004
		------------	------------
		1,391,266	1,170,291

Current assets

Stocks		2,219,562	1,913,718
Debtors	8	1,794,025	1,717,719
Cash at bank and in hand		144,678	328,774
		------------	------------
		4,158,265	3,960,211

Creditors: amounts falling due within one year	9	1,795,894		1,418,151
		------------		------------
Net current assets			2,362,371	2,542,060
			------------	------------
Total assets less current liabilities			3,753,637	3,712,351

Creditors: amounts falling due after more than one year	10		2,560,810	2,670,586

Provisions

Taxation including deferred tax	( 32,872)	( 32,872)
	------------	------------
Net assets	1,225,699	1,074,637
	------------	------------

Capital and reserves

Called up share capital	11	1,239,029	1,239,029
Share premium account		11,155,818	11,155,818
Capital redemption reserve		233	233
Profit and loss account		( 11,169,381)	( 11,320,443)
		-------------	-------------
Shareholders funds		1,225,699	1,074,637
		-------------	-------------

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 income statement has not been delivered.

Lapicida Stone Group Limited

Statement of Financial Position (continued)

31 March 2025

For the 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.

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 12 December 2025 , and are signed on behalf of the board by:

Mr J D Cherrington

Director

Company registration number: 07540165

Lapicida Stone Group Limited

Notes to the Financial Statements

Year ended 31 March 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 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.

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

Going Concern The financial statements have been prepared on the going concern basis. This basis is deemed appropriate following the continued support of the group and entities under common control. The directors are confident that the group support will continue for the foreseeable future. Therefore on this basis the directors are confident that the going concern basis of preparing the accounts is appropriate.

Revenue recognition

Turnover comprises the invoiced cost of goods sold during the year, excluding value added tax, and net of trade discounts. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Trademark	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Leasehold Property	-	10% straight line
Leasehold Improvements	-	10% straight line
Plant & Machinery	-	15% straight line
Fixtures & Fittings	-	20% straight line

Motor Vehicles	-	20% straight line
Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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.

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 26 (2024: 30 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 April 2024 and 31 March 2025	30,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	30,000
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	512,568	717,996	377,267	–	1,607,831
Additions	–	4,000	257,046	81,367	342,413
Disposals	–	( 40)	–	( 20,417)	( 20,457)
	---------	---------	---------	--------	------------
At 31 March 2025	512,568	721,956	634,313	60,950	1,929,787
	---------	---------	---------	--------	------------
Depreciation
At 1 April 2024	335,269	560,276	345,999	–	1,241,544
Charge for the year	25,694	29,466	43,789	5,434	104,383
Disposals	–	–	–	( 3,402)	( 3,402)
	---------	---------	---------	--------	------------
At 31 March 2025	360,963	589,742	389,788	2,032	1,342,525
	---------	---------	---------	--------	------------
Carrying amount
At 31 March 2025	151,605	132,214	244,525	58,918	587,262
	---------	---------	---------	--------	------------
At 31 March 2024	177,299	157,720	31,268	–	366,287
	---------	---------	---------	--------	------------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	804,004
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	804,004
	---------
At 31 March 2024	804,004
	---------

The company owns 100% of the share capital of Trade Price Stone Limited, Lapicida Stone Limited, Lapicida (Stone Productions) Limited, Lapicida Home Limited and Lapicida Limited.

All subsidiary companies were incorporated in England and Wales.

8. Debtors

	2025	2024
	£	£
Trade debtors	330,436	197,720
Amounts owed by group undertakings and undertakings in which the company has a participating interest	663,141	533,206
Other debtors	800,448	986,793
	------------	------------
	1,794,025	1,717,719
	------------	------------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	951,789	1,186,124
Amounts owed to group undertakings and undertakings in which the company has a participating interest	125,979	30,991
Social security and other taxes	224,850	160,250
Other creditors	493,276	40,786
	------------	------------
	1,795,894	1,418,151
	------------	------------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	2,560,810	2,670,586
	------------	------------

11. Called up share capital

Issued, called up and fully paid

2025		2024
No.	£	No.	£

Amounts presented in equity:

A Ordinary shares of £ 0.0004 each	37,800	15	37,800	15
B Ordinary shares of £ 0.0001 each	48,200	5	48,200	5
C Ordinary (non-voting) shares of £ 0.0001 each	9,333	1	9,333	1
Preferred ordinary shares of £ 1 each	1,239,008	1,239,008	1,239,008	1,239,008
	------------	------------	------------	------------
	1,334,341	1,239,029	1,334,341	1,239,029
	------------	------------	------------	------------

Amounts presented in liabilities:

Preference shares of £ 1 each	500,000	500,000	500,000	500,000
	---------	---------	---------	---------

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	432,500	429,000
Later than 1 year and not later than 5 years	375,000	429,000
Later than 5 years	256,250	–
	------------	---------
	1,063,750	858,000
	------------	---------

13. Directors' advances, credits and guarantees

The directors loan account remained in credit throughout the current year. There were no guarantees in the year.

14. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under the FRS 102.

15. Controlling party

The company is under the control of Lapicida Group Limited. The ultimate parent company is Harwood Developments Limited a company registered in England and Wales.