Strata Stones Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05219395 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

STRATA STONES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

S Agrawal

N D Williams

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

BUSINESS ADDRESS:

Strata Stones Limited

Raeburn Road South

Ipswich

Suffolk

IP3 OET

REGISTERED NUMBER:

05219395 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

accounts of Strata Stones Limited (Company Number: 05219395) for the year ended 31st March 2018 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at www.icaew.com/membershandbook.

This report is made solely to the Board of Director of Strata Stones Limited, as a body, in accordance with the terms of

our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Strata Stones

Limited and state those matters that we have agreed to state to them in accordance with AAF 2/10 as detailed at

www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than Strata Stones Limited and its Board of Director, as a body, for our work or for this report.

It is your duty to ensure that Strata Stones Limited has kept adequate accounting records and to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and profit/loss of Strata Stones Limited.

You consider that Strata Stones Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Strata Stones Limited. For this reason,

we have not verified the accuracy or completeness of the accounting records or information and explanations you have

given to us and we do not, therefore, express any opinion on the statutory accounts.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

5 December 2019

FIXED ASSETS

Tangible assets

4

886,141

693,888

Investments

5

100

100

886,241

693,988

CURRENT ASSETS

Stocks

1,683,104

2,149,507

Debtors

6

1,339,665

1,316,142

Cash at bank and in hand

3,593

4,432

3,026,362

3,470,081

CREDITORS

Amounts falling due within one year

7

3,613,789

3,953,628

NET CURRENT LIABILITIES

(587,427

)

(483,547

)

TOTAL ASSETS LESS CURRENT LIABILITIES

298,814

210,441

CREDITORS

Amounts falling due after more than one year

8

(70,225

)

(104,437

)

PROVISIONS FOR LIABILITIES

(82,972

)

(53,488

)

NET ASSETS

145,617

52,516

CAPITAL AND RESERVES

Called up share capital

10,496

10,496

Undistributable reserve

10

329,414

203,717

Retained earnings

(194,293

)

(161,697

)

SHAREHOLDERS' FUNDS

145,617

52,516

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 December 2019 and were signed on its behalf by:

N D Williams - Director

1.	STATUTORY INFORMATION

Strata Stones Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Strata Stones 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual

value, over their expected useful lives at the following rates:

Long leasehold

- 2% on cost

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Computer equipment

- 50% on cost

Improvements to property

- 2% on cost

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets

to determine whether there is any indication that any items have suffered an impairment loss. If any such

indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the

impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company

estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable

value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of

inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net

realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the

related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of

stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any

reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an

expense in the period in which the reversal occurs.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets

acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets

acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where

substantially all of the benefits and risks of ownership are assumed by the company. 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.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged to the profit and loss account on a straight-line basis.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2018 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2018

754,819

116,071

870,890

Additions

-

64,868

64,868

Revaluations

155,181

-

155,181

At 31 March 2019

910,000

180,939

1,090,939

DEPRECIATION

At 1 April 2018

64,002

113,000

177,002

Charge for year

16,774

11,022

27,796

At 31 March 2019

80,776

124,022

204,798

NET BOOK VALUE

At 31 March 2019

829,224

56,917

886,141

At 31 March 2018

690,817

3,071

693,888

Long leasehold property was revalued on an open market basis on the 31st March 2019 by the directors. Any

unrealised gains/losses on the revaluation of property is shown as an undistributable reserve on the Statement of

Changes in Equity.

Cost or valuation at 31 March 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

588,304

120,374

708,678

Valuation in 2018

166,515

-

166,515

Valuation in 2019

155,181

60,565

215,746

910,000

180,939

1,090,939

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

100

NET BOOK VALUE

At 31 March 2019

100

At 31 March 2018

100

In March 2018, the company acquired 100% of the share capital of Strata Stones Ltd, a company incorporated in

Ireland.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

865,717

1,084,999

Other debtors

473,948

231,143

1,339,665

1,316,142

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

588,644

939,638

Trade creditors

2,278,557

2,467,130

Taxation and social security

14,390

49,615

Other creditors

732,198

497,245

3,613,789

3,953,628

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

70,225

104,437

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,799

There exists fixed and floating charges over the assets of the company.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

609,883

964,650

10.

RESERVES

Undistributable

reserve

£

At 1 April 2018

203,717

Transfer

125,697

At 31 March 2019

329,414

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

S Agrawal

Balance outstanding at start of year

62,111

84,477

Amounts repaid

(7,660

)

(22,366

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

54,451

62,111

Interest has been charged on a daily basis on directors' loans and advances at the statutory rate of 4% per annum.

The directors' loans and advances have no set repayment dates.

12.	RELATED PARTY DISCLOSURES

The company owes its Parent undertaking Christianborg Ltd £669,935 (2018: £336,519). This loan has been

granted free of interest but is subject to repayment on demand.