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Unaudited Financial Statements for the Year Ended 31 October 2019 |
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Stone Enterprises Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2019 |
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for |
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Stone Enterprises Limited |
Stone Enterprises Limited (Registered number: 00729860) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2019 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Stone Enterprises Limited (Registered number: 00729860) |
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Balance Sheet |
31 October 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
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Investment property | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 8 |
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Fair value reserve | 9 |
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Retained earnings |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Stone Enterprises Limited (Registered number: 00729860) |
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Balance Sheet - continued |
31 October 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Stone Enterprises Limited (Registered number: 00729860) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2019 |
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1. | Statutory information |
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Stone Enterprises Limited is a
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The company's registered number and registered office address are as below: |
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Registered number: | 00729860 |
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Registered office: | 85 Church Road |
Hove |
East Sussex |
BN3 2BB |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Stone Enterprises Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are initially recognised at cost and subsequently recorded at |
cost less impairment. |
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Investment property |
The investment property is carried at fair value at the balance sheet date. Adjustments in the fair value |
are recognised in the profit and loss account. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss |
account, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Stone Enterprises Limited (Registered number: 00729860) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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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. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 November 2018 |
and 31 October 2019 |
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Net book value |
At 31 October 2019 |
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At 31 October 2018 |
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5. | Investment property |
Total |
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Fair value |
At 1 November 2018 |
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Revaluations | 100,000 |
At 31 October 2019 |
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Net book value |
At 31 October 2019 |
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At 31 October 2018 |
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The investment property's fair value at the balance sheet date was determined by a director, based on |
the open market value of similar properties. |
Stone Enterprises Limited (Registered number: 00729860) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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6. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Other creditors |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary A shares | £1 | 24,311 | 24,311 |
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Ordinary B shares | £1 | 11,440 | 11,440 |
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Ordinary C shares | £1 | 11,917 | 11,917 |
47,668 | 47,668 |
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9. | Reserves |
Fair |
value |
reserve |
£ |
At 1 November 2018 |
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Transfer | 100,000 |
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At 31 October 2019 |
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10. | Directors' advances, credits and guarantees |
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During the year, the company advanced the directors £32,948 (2018: £nil) and they repaid £27,194 |
(2018: £nil). At the year end, the directors owed the company £5,754 (2018: £nil). The advances were |
interest-free, unsecured and repayable on demand. |