Headstone Associates Limited

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

1	General information

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

The address of its registered office is:
1st Floor 8 Chancerygate Close
Stonefield Way
Ruslip
Middlesex
HA4 0JA
United Kingdom

These financial statements were authorised for issue by the director on 26 October 2026.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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 turnover 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 and deferred 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.

Headstone Associates Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Depreciation method and rate for tangible assets
Asset class	Depreciation method and rate
Plant and machinery	20% on reducing balance method
Fixture and fittings	20% on reducing balance method

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 stocks 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.

Headstone Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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. Trade creditors 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 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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2024 - 3).

4

Taxation

Tax charged/(credited) in the profit and loss account

Headstone Associates Limited

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

	2025 £	2024 £
Current taxation
UK corporation tax	25,614	88,399
Deferred taxation
Arising from origination and reversal of timing differences	6,426	-
Tax expense in the income statement	32,040	88,399

Headstone Associates Limited

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

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2025	16,635	4,314	20,949
Additions	13,352	2,750	16,102
At 31 December 2025	29,987	7,064	37,051
Depreciation
At 1 January 2025	3,523	1,396	4,919
Charge for the year	5,293	1,132	6,425
At 31 December 2025	8,816	2,528	11,344
Carrying amount
At 31 December 2025	21,171	4,536	25,707
At 31 December 2024	13,112	2,918	16,030

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	3,148,385	2,804,173

7

Debtors

Current	2025 £	2024 £
Trade debtors	50,625	58,000
Prepayments	30,236	-
Other debtors	17,491	1,577
Other loan	830,485	63,954
Accrued income	200,000	200,000
VAT Control account	71,946	119,715
	1,200,783	443,246

8

Creditors

Creditors: amounts falling due within one year

Headstone Associates Limited

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

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	1,764,646	92,935
Trade creditors		94,009	1,583,644
Taxation and social security		-	808
Accruals and deferred income		1,502	11,960
Other creditors		243,608	653,521
Wages and salaries control		11,970	-
Credit card account		5,472	8,229
Director loan account		73,445	35
		2,194,652	2,351,132

Headstone Associates Limited

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

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	1,568,528	590,919

9	Provisions for liabilities

	Deferred tax £	Total £
Increase (decrease) in existing provisions	6,426	6,426
At 31 December 2025	6,426	6,426

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	1,568,528	590,919

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,787	14,443
Hire purchase contracts	619,853	-
Other borrowings	1,138,006	78,492
	1,764,646	92,935

11

Dividends

Final dividends paid

		2025 £		2024 £
Final dividend of £Nil (2024 - £52,100.00) per each Ordinary		-		52,100

12	Share capital

Allotted, called up and fully paid shares

Headstone Associates Limited

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

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1