Flagstone Paving Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04741896 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st May 2020

for

Flagstone Paving Limited

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

475,680

489,573

CURRENT ASSETS

Stocks

7,075

5,349

Debtors

3,383

5,693

Cash at bank

2,044,569

1,659,987

2,055,027

1,671,029

CREDITORS

Amounts falling due within one year

638,908

609,309

NET CURRENT ASSETS

1,416,119

1,061,720

TOTAL ASSETS LESS CURRENT LIABILITIES

1,891,799

1,551,293

PROVISIONS FOR LIABILITIES

18,080

21,549

NET ASSETS

1,873,719

1,529,744

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,873,619

1,529,644

SHAREHOLDERS' FUNDS

1,873,719

1,529,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th May 2021 and were signed by:

Mr J L Carter - Director

1.	STATUTORY INFORMATION

Flagstone Paving Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04741896

Registered office:

Kings Lodge

London Road

West Kingsdown

Sevenoaks

Kent

TN15 6AR

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

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

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2019

542,402

Additions

22,234

Disposals

(15,080

)

At 31st May 2020

549,556

DEPRECIATION

At 1st June 2019

52,829

Charge for year

27,002

Eliminated on disposal

(5,955

)

At 31st May 2020

73,876

NET BOOK VALUE

At 31st May 2020

475,680

At 31st May 2019

489,573