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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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STONE CONNECTION (UK) LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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STONE CONNECTION (UK) LIMITED |
STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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STONE CONNECTION (UK) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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13 Yorkersgate |
Malton |
North Yorkshire |
YO17 7AA |
STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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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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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement 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 CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Stone Connection (UK) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The principal accounting policies adopted in the presentation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts. |
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The financial statements have been prepared under the historical cost convention. |
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Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
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Tangible fixed assets and depreciation |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
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Plant and machinery | 20% - reducing balance |
Fixtures, fittings & equipment | 20% - reducing balance |
Motor vehicles | 25% - reducing balance |
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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 statement of financial position date. |
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STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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3. | ACCOUNTING POLICIES - continued |
Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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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Leasing and hire purchase commitments |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
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Revenue recognition |
Income represents revenue earned under a wide variety of contracts to provide goods and services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, excluding value added tax. |
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Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors. |
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Employer financed retirement benefit schemes (efrbs) |
On 7 August 2013, the Company established an EFRBS for the benefit of its officers, employees and their wider families, The Stone Connection (UK) Limited 2013 EFRBS ('the Scheme'). |
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No additions were made to the Scheme during the current accounting period. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2019 |
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Additions |
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Disposals | ( |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Hire purchase contracts |
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Payments on account |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Hire purchase contracts | 4,367 | 9,131 |
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Hire purchase contracts are secured against the asset to which the relevant finance agreement relates. |
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10. | OTHER FINANCIAL COMMITMENTS |
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The company had total guarantees and commitments at the balance sheet date of £136,801 (2019 £160,062). |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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The above loan is unsecured, interest free and repayable on demand. |
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Included in other creditors is an amount of £267,149 (2019 £92,145) due to Mr C J Ingledew and Mrs A Ingledew, in respect of their joint director's loan account. |
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12. | RELATED PARTY DISCLOSURES |
STONE CONNECTION (UK) LIMITED (REGISTERED NUMBER: 05298496) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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12. | RELATED PARTY DISCLOSURES - continued |
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The parent company is Stone Connection Group Limited. |
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Stone Connection Group Limited's registered office address and principle place of business is Millfield Industrial Estate, Wheldrake, York, North Yorkshire, England, YO19 6NA. |