General Information
Norton Masonry Limited is a private company, limited by shares, registered in England and Wales, registration number 03703309, registration address Sunnyridge, 14 Orchard Close, Westfield, Radstock, BA3 3RF. The trading address of the company is 8 Pickford Fields, Chilcompton, Radstock, Somerset, BA3 4XU.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Computer Equipment |
15% Reducing Balance
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are carried at fair value and the changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 6 (2025 : 5).
|
| 3. |
Financial Commitments, Guarantees and Contingencies
At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £13,711 (2025 - £20,567).
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 March 2025 |
113,494 |
|
832 |
|
114,326 |
| Additions |
85,410 |
|
- |
|
85,410 |
| Disposals |
(79,653) |
|
- |
|
(79,653) |
| At 28 February 2026 |
119,251 |
|
832 |
|
120,083 |
| Depreciation |
| At 01 March 2025 |
35,268 |
|
398 |
|
35,666 |
| Charge for year |
23,152 |
|
65 |
|
23,217 |
| On disposals |
(8,625) |
|
- |
|
(8,625) |
| At 28 February 2026 |
49,795 |
|
463 |
|
50,258 |
| Net book values |
| Closing balance as at 28 February 2026 |
69,456 |
|
369 |
|
69,825 |
| Opening balance as at 01 March 2025 |
78,226 |
|
434 |
|
78,660 |
|
| 5. |
Stocks
|
2026
£ |
|
2025
£ |
| Stocks |
800 |
|
800 |
|
800 |
|
800 |
|
| 6. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Debtors |
63,911 |
|
84,172 |
|
63,911 |
|
84,172 |
|
| 7. |
Investments
|
2026
£ |
|
2025
£ |
| Other Investments - Listed - Cost b/fwd |
121,048 |
|
113,302 |
|
121,048 |
|
113,302 |
|
| 8. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Creditors |
99,201 |
|
129,182 |
| Corporation Tax |
89,265 |
|
37,084 |
| PAYE & Social Security |
7,894 |
|
11,158 |
| Accrued Expenses |
3,399 |
|
3,264 |
| Obligations under HP/Financial Leases |
15,528 |
|
13,208 |
| Director: Mr D T Mounty |
1,000 |
|
0 |
| VAT |
74,180 |
|
70,853 |
|
290,467 |
|
264,749 |
|
| 9. |
Creditors: amount falling due after more than one year
|
2026
£ |
|
2025
£ |
| Obligations Under HP/Financial Leases |
64,454 |
|
76,413 |
|
64,454 |
|
76,413 |
|
| 10. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
17,456 |
|
17,663 |
|
17,456 |
|
17,663 |
|
| 11. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
15
Class A shares of £0.10 each |
2 |
|
2 |
|
5
Class B shares of £0.10 each |
1 |
|
1 |
|
2 |
|
2 |
|
| 12. |
Revaluation Reserves
|
2026
£ |
|
2025
£ |
| Revaluation Reserve b/fwd |
11,585 |
|
6,482 |
| Revaluation of Fixed Assets |
7,746 |
|
5,103 |
|
19,331 |
|
11,585 |
|
| 13. |
Capital Redemption Reserve
|
2026
£ |
|
2025
£ |
| Capital Redemption Reserve b/fwd |
2 |
|
2 |
|
2 |
|
2 |
|
2
|