Sutton Stone & Ceramics Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09012129 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Sutton Stone & Ceramics Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountant's Report

8

DIRECTORS:

G Hughes

T E Willmore

REGISTERED OFFICE:

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

REGISTERED NUMBER:

09012129 (England and Wales)

ACCOUNTANT:

Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

22,119

9,247

22,119

9,247

CURRENT ASSETS

Stocks

6

7,500

-

Debtors

7

180,872

149,093

Cash at bank and in hand

247

37,485

188,619

186,578

CREDITORS

Amounts falling due within one year

8

195,584

166,558

NET CURRENT (LIABILITIES)/ASSETS

(6,965

)

20,020

TOTAL ASSETS LESS CURRENT LIABILITIES

15,154

29,267

CREDITORS

Amounts falling due after more than one year

9

(9,286

)

(2,889

)

PROVISIONS FOR LIABILITIES

(4,203

)

(1,757

)

NET ASSETS

1,665

24,621

CAPITAL AND RESERVES

Called up share capital

10

4

4

Retained earnings

1,661

24,617

SHAREHOLDERS' FUNDS

1,665

24,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 and authorised for issue on 13 September 2022 and were signed on its behalf by:

G Hughes - Director

1.	STATUTORY INFORMATION

Sutton Stone & Ceramics Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

at variable rates on reducing balance

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2021

and 30 April 2022

50,000

AMORTISATION

At 1 May 2021

and 30 April 2022

50,000

NET BOOK VALUE

At 30 April 2022

-

At 30 April 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2021

3,015

4,065

29,092

36,172

Additions

567

-

17,281

17,848

Disposals

-

-

(10,549

)

(10,549

)

At 30 April 2022

3,582

4,065

35,824

43,471

DEPRECIATION

At 1 May 2021

2,900

3,100

20,925

26,925

Charge for year

188

242

1,208

1,638

Eliminated on disposal

-

-

(7,211

)

(7,211

)

At 30 April 2022

3,088

3,342

14,922

21,352

NET BOOK VALUE

At 30 April 2022

494

723

20,902

22,119

At 30 April 2021

115

965

8,167

9,247

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2021

29,092

Additions

17,281

Disposals

(10,549

)

At 30 April 2022

35,824

DEPRECIATION

At 1 May 2021

20,925

Charge for year

1,208

Eliminated on disposal

(7,211

)

At 30 April 2022

14,922

NET BOOK VALUE

At 30 April 2022

20,902

At 30 April 2021

8,167

6.

STOCKS

30.4.22

30.4.21

£

£

Finished goods

7,500

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Trade debtors

151,420

121,430

Other debtors

2,500

-

VAT

26,952

27,663

180,872

149,093

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans and overdrafts

63,544

50,000

Hire purchase contracts

8,437

5,736

Trade creditors

72,112

61,277

Tax

26,737

40,015

Other creditors

24,617

9,299

Directors' current accounts

137

231

195,584

166,558

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.22

30.4.21

£

£

Hire purchase contracts

9,286

2,889

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.22

30.4.21

value:

£

£

2

Ordinary

2

2

2

1

Ordinary A

1

1

1

1

Ordinary B

1

1

1

4

4

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, I have prepared for your approval the financial statements of Sutton Stone & Ceramics Ltd for the year ended 30 April 2022 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sutton Stone & Ceramics Ltd, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Sutton Stone & Ceramics Ltd and state those matters that I have agreed to state to the Board of Directors of Sutton Stone & Ceramics Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Sutton Stone & Ceramics Ltd and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Sutton Stone & Ceramics Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sutton Stone & Ceramics Ltd. You consider that Sutton Stone & Ceramics Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Sutton Stone & Ceramics Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

13 September 2022