Registered number
06581853
K J Stoneman & Co Limited
Unaudited Filleted Accounts
30 June 2025

K J Stoneman & Co Limited
Registered number: | 06581853
Balance Sheet
as at 30 June 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Intangible assets | 3 |  |  | 13,500 |  |  | 18,000
Tangible assets | 4 |  |  | 20,109 |  |  | 27,784
|  |  |  | 33,609 |  |  | 45,784
Current assets
Stocks |  |  | 418,645 |  |  | 353,625
Debtors | 5 |  | 124,632 |  |  | 125,471
Cash at bank and in hand |  |  | 428,980 |  |  | 370,169
|  |  | 972,257 |  |  | 849,265
Creditors: amounts falling due within one year | 6 |  | (284,438) |  |  | (208,294)
Net current assets |  |  |  | 687,819 |  |  | 640,971
Total assets less current liabilities |  |  |  | 721,428 |  |  | 686,755
Provisions for liabilities |  |  |  | (4,778) |  |  | (6,750)
Net assets |  |  |  | 716,650 |  |  | 680,005
Capital and reserves
Called up share capital |  |  |  | 50 |  |  | 66
Profit and loss account |  |  |  | 716,600 |  |  | 679,939
Shareholders' funds |  |  |  | 716,650 |  |  | 680,005
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Heard
Director
Approved by the board on 9 March 2026

K J Stoneman & Co Limited
Notes to the Accounts
for the year ended 30 June 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
| Turnover
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
| Intangible fixed assets
| Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
| Tangible fixed assets
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Plant and machinery | 15% Reducing Balance
| Motor Vehicles | 25% Reducing Balance
| Stocks
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
| Debtors and creditors receivable/payable within one year
| Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
| Provisions
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
| Pensions
| Contributions to defined contribution plans are expensed in the period to which they relate.
2 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 7 |  | 7
3 | Intangible fixed assets | £
| Goodwill:
| Cost
| At 1 July 2024 | 90,000
| At 30 June 2025 | 90,000
| Amortisation
| At 1 July 2024 | 72,000
| Provided during the year | 4,500
| At 30 June 2025 | 76,500
| Net book value
| At 30 June 2025 | 13,500
| At 30 June 2024 | 18,000
| Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 | Tangible fixed assets
|  |  |  | Plant and machinery etc |  | Motor vehicles |  | Total
£ | £ | £
| Cost
| At 1 July 2024 | 53,769 |  | 54,890 |  | 108,659
| Additions | 542 |  | - |  | 542
| Disposals | (13,664) |  | - |  | (13,664)
| At 30 June 2025 | 40,647 |  | 54,890 |  | 95,537
| Depreciation
| At 1 July 2024 | 36,820 |  | 44,055 |  | 80,875
| Charge for the year | 2,114 |  | 2,707 |  | 4,821
| On disposals | (10,268) |  | - |  | (10,268)
| At 30 June 2025 | 28,666 |  | 46,762 |  | 75,428
| Net book value
| At 30 June 2025 | 11,981 |  | 8,128 |  | 20,109
| At 30 June 2024 | 16,949 |  | 10,835 |  | 27,784
5 | Debtors | 2025 |  | 2024
£ | £
| Trade debtors | 113,532 |  | 112,176
| Other debtors | 11,100 |  | 13,295
|  |  |  |  |  | 124,632 |  | 125,471
6 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Trade creditors | 211,646 |  | 114,546
| Taxation and social security costs | 46,614 |  | 76,142
| Other creditors | 26,178 |  | 17,606
|  |  |  |  |  | 284,438 |  | 208,294
7 | Other information
| K J Stoneman & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
| Copplestone
| Crediton
| Devon
| EX17 5NW

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