Dorset Stone Company Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04884423 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

DORSET STONE COMPANY LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Intangible assets

4

5,207

7,811

Tangible assets

5

23,602

27,593

28,809

35,404

Current assets

Stocks

15,750

14,849

Debtors

6

18,671

23,602

Cash at bank and in hand

3,601

1,461

38,022

39,912

Creditors

Amounts falling due within one year

7

270,190

272,930

Net current liabilities

(232,168

)

(233,018

)

Total assets less current liabilities

(203,359

)

(197,614

)

Capital and reserves

Called up share capital

8

100

100

Retained earnings

(203,459

)

(197,714

)

Shareholders' funds

(203,359

)

(197,614

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 30 June 2017 and were signed by:

Mrs C Hoof - Director

1.	Statutory information

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

number is 04884423. The registered office is 7 & 8 Church Street, Wimborne, BH21 1JH and business address is 3 Dell Close,

Broadstone, BH18 9NL.

2.	Accounting policies

Basis of preparing the financial statements

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

There was a net deficiency of assets at the balance sheet date, however the director has confirmed continued support and

consider the company retains sufficient working capital to continue trading for the following 12 months.

Turnover

Turnover represents income received from stone quarrying net of VAT and trade discounts.

Licences

Licences for quarrying rights and their associated costs are amortised over the life of the licence obtained.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or

past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible

fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Dorset Stone Company Limited has taxable losses carried forward of £201,396 to offset against future trading profits.

Working capital requirements

The company made a loss during the year and has a deficiency of assets at the year end. The company is dependant upon

the continued support of its director's. The director's give their assurance that they will provide sufficient further finance as

may prove necessary to meet the company's working capital requirements.

3.	Employees and directors

The average number of employees during the year was 4 .

4.	Intangible fixed assets

Licences

£

Cost

At 1 October 2015

and 30 September 2016

10,415

Amortisation

At 1 October 2015

2,604

Amortisation for year

2,604

At 30 September 2016

5,208

Net book value

At 30 September 2016

5,207

At 30 September 2015

7,811

5.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 October 2015

20,462

52,469

2,200

1,100

76,231

Additions

-

125

-

-

125

At 30 September 2016

20,462

52,594

2,200

1,100

76,356

Depreciation

At 1 October 2015

5,115

41,305

1,943

275

48,638

Charge for year

1,024

2,822

64

206

4,116

At 30 September 2016

6,139

44,127

2,007

481

52,754

Net book value

At 30 September 2016

14,323

8,467

193

619

23,602

At 30 September 2015

15,347

11,164

257

825

27,593

6.

Debtors: amounts falling due within one year

2016

2015

£

£

Trade debtors

14,891

19,822

Other debtors

3,780

3,780

18,671

23,602

7.

Creditors: amounts falling due within one year

2016

2015

£

£

Trade creditors

13,871

7,548

PAYE

9,441

4,167

VAT

1,819

937

Net wages

-

925

Other creditors

51,947

51,947

Directors' current accounts

191,352

205,646

Accruals and deferred income

1,760

1,760

270,190

272,930

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

9.	Ultimate controlling party

The company is controlled by the director Mrs C Hoof who holds 67% of the company share capital.

10.	First year adoption

These financial statements for the year ended 30/09/2016 are the first financial statements that comply with FRS 102

Section 1A small entities. The date of transition is 01/10/2014.

The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those

previously used.

The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to

these financial statements.