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STONE CONSTRUCTION LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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STONE CONSTRUCTION LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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STONE CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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STONE CONSTRUCTION LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Business Advisers |
Oakhurst House |
57 Ashbourne Road |
Derby |
Derbyshire |
DE22 3FS |
STONE CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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BALANCE SHEET |
30 NOVEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Capital redemption reserve |
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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 CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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BALANCE SHEET - continued |
30 NOVEMBER 2018 |
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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 on
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STONE CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Stone Construction Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Work in progress is valued at cost plus attributable profits where appropriate, less foreseeable losses. This is |
the value of work done as reflected in turnover. For contracts where the value of work done exceeds progress |
payments, the excess is included in debtors as amounts recoverable on contracts. For contracts where |
progress payments exceed the value of work done, the excess is included in creditors as payments on account. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Long | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2017 |
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Additions |
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Disposals |
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At 30 November 2018 |
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DEPRECIATION |
At 1 December 2017 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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STONE CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 244,343 | 350,763 |
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The bank loan and overdraft are secured by way of floating charge over the property or undertaking of the |
company. |
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Assets financed under hire purchase contracts are secured against the assets concerned. |
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9. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 120,700 | 135,400 |
STONE CONSTRUCTION LTD (REGISTERED NUMBER: 02837246) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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9. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 December 2017 |
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Provided during year | ( |
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Balance at 30 November 2018 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
NIL | Ordinary | £1 | - | 2,000 |
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Ordinary B | £1 | 508 | 30 |
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Ordinary A | £1 | 1,218 | - |
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Ordinary D | £1 | 102 | - |
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Ordinary C | £1 | 202 | - |
2,030 | 2,030 |
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On 23rd June 2018, by Special Resolution, the company reclassified its issued share capital as follows: |
- 1,218 Ordinary shares of £1 each reclassified as 1,218 Ordinary A shares |
- 493 Ordinary shares of £1 each reclassified as 493 Ordinary B shares |
- 87 Ordinary shares of £1 each reclassified as 87 Ordinary C shares |
- 202 Ordinary shares of £1 each reclassified as 202 Ordinary D shares |
- 15 Ordinary B Shares of £1 each re-designated as 15 Ordinary C shares |