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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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Stone Enterprises Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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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 2021 |
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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 2021 |
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2021 | 2020 |
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 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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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 2021 |
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1. | Statutory information |
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Stone Enterprises Limited is a
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Registered number: |
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Registered office: |
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The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 2021 |
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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 (2020 - NIL). |
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 November 2020 |
and 31 October 2021 |
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Net book value |
At 31 October 2021 |
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At 31 October 2020 |
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5. | Investment property |
Total |
£ |
Fair value |
At 1 November 2020 |
and 31 October 2021 |
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Net book value |
At 31 October 2021 |
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At 31 October 2020 |
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The investment property fair value of £1,250,000 (2020 - £1,250,000) was determined by the directors based on the market value of similar properties in the area. |
Stone Enterprises Limited (Registered number: 00729860) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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6. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
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Directors' current accounts | 50,187 | 5,939 |
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7. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Other creditors |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary A | £1 | 24,311 | 24,311 |
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Ordinary B | £1 | 11,440 | 11,440 |
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Ordinary C | £1 | 11,917 | 11,917 |
47,668 | 47,668 |
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9. | Reserves |
Fair |
value |
reserve |
£ |
At 1 November 2020 |
and 31 October 2021 |
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10. | Directors' advances, credits and guarantees |
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Advances were made in the year to the directors in the sum of £73,334 (2020 £128,125) with repayments being received of £29,086 (2020 £128,000) resulting in a balance owed to the company at the year end of £50,187 (2020 £5,939). This loan was unsecured, repayable on demand and non-interest bearing. |