Stonar Developments Limited - Period Ending 2014-10-31

Registration number: 03265959

Stonar Developments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

Batchelor Coop Ltd Chartered Accountants
The New Barn Mill Lane Eastry Sandwich Kent CT13 0JW

Stonar Developments Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Stonar Developments Limited
for the Year Ended 31 October 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stonar Developments Limited for the year ended 31 October 2014 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Stonar Developments Limited, as a body, in accordance with the terms of our engagement letter dated 13 September 2005. Our work has been undertaken solely to prepare for your approval the accounts of Stonar Developments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stonar Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Stonar Developments 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 of Stonar Developments Limited. You consider that Stonar Developments 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 Stonar Developments 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.

......................................

Batchelor Coop Ltd
Chartered Accountants
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

25 March 2015

Page 1

Stonar Developments Limited
(Registration number: 03265959)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					4,568			5,544
Current assets
Stocks					167,115			346,671
Debtors					2,554			2,658
Cash at bank and in hand					134,163			91
					303,832			349,420
Creditors: Amounts falling due within one year					(290,605)			(361,001)
Net current assets/(liabilities)					13,227			(11,581)
Net assets/(liabilities)					17,795			(6,037)
Capital and reserves
Called up share capital		4			10			10
Profit and loss account					17,785			(6,047)
Shareholders' funds/(deficit)					17,795			(6,037)

For the year ending 31 October 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 March 2015 and signed on its behalf by:

.........................................
JE Barrett
Director

.........................................
EM Barrett
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Stonar Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised when goods are supplied, irrespective of the date the goods were invoiced.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% written down value
Motor vehicles	25% written down value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		25,060			25,060
At 31 October 2014		25,060			25,060
Depreciation
At 1 November 2013		19,516			19,516
Charge for the year		976			976
At 31 October 2014		20,492			20,492
Net book value
At 31 October 2014		4,568			4,568
At 31 October 2013		5,544			5,544

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 3

Stonar Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014......... continued

		2014 £			2013 £
Amounts falling due within one year		-			20,067

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

5	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
JE Barrett
Advances throughout the year.	2,137	-	-	-

Page 4