Factory Stone Ltd - Accounts to registrar (filleted) - small 18.1
Factory Stone Ltd - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2017 |
| for |
| Factory Stone Ltd |
| Factory Stone Ltd (Registered number: 08170641) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Factory Stone Ltd |
| Company Information |
| for the Year Ended 31 August 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Cloth Hall |
| 150 Drake Street |
| Rochdale |
| Lancashire |
| OL16 1PX |
| Factory Stone Ltd (Registered number: 08170641) |
| Balance Sheet |
| 31 August 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 |
| Factory Stone Ltd (Registered number: 08170641) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2017 |
| 1. | STATUTORY INFORMATION |
| Factory Stone Ltd is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Due to a poor trading period between February 2017 and August 2017, the company incurred significant losses, resulting in |
| the company's Balance Sheet showing a deficit at 31 August 2017 of £17,928. However, a return to profitability is expected. |
| The director considers that in preparing the financial statements all information that could reasonably expected to be |
| available has been taken into account. On this basis the director considers it is appropriate to prepare the financial statements |
| on a going concern basis. |
| 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 2012, has been amortised over its |
| estimated useful life of five 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 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. |
| Factory Stone Ltd (Registered number: 08170641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2016 |
| and 31 August 2017 |
| AMORTISATION |
| At 1 September 2016 |
| Amortisation for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2016 |
| Additions |
| At 31 August 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Loan to Roylemac 10 Ltd |
| Loan to Domeo Ltd | 17,361 | - |
| Employee loans | 9,062 | 4,470 |
| Directors' loan accounts | 34,082 | 40,346 |
| Corporation tax |
| VAT |
| Prepayments |
| Factory Stone Ltd (Registered number: 08170641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Invoice finance creditor |
| Trade creditors |
| Loan from Domeo Ltd | - | 20,972 |
| Corporation tax |
| Social security and other taxes |
| VAT | - | 5,139 |
| Other creditors |
| Employee loan | - | 1,792 |
| Accrued expenses |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Invoice finance creditor |
| The invoice finance creditor is secured on the book debts of the company. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2016 | ( |
) |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2017 | ( |
) |
| 11. | OTHER FINANCIAL COMMITMENTS |
| The company had outstanding commitments in respect of operating leases as at 31 August 2017 of £13,037. |
| Factory Stone Ltd (Registered number: 08170641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2017 and 31 August 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 13. | RELATED PARTY DISCLOSURES |
| Included within debtors due within one year are interest free unsecured loans to the director as disclosed in note 12. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr LJ Royle by virtue of his ownership of 90% of the issued ordinary share capital in the company. |