Strata Stones Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05219395 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

STRATA STONES LIMITED

Page

Company Information

1

Report of the Accountants

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

S Agrawal

N D Williams

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

BUSINESS ADDRESS:

Strata Stones Limited

Raeburn Road South

Ipswich

Suffolk

IP3 OET

REGISTERED NUMBER:

05219395 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

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, we have prepared for your approval the

accounts of Strata Stones Limited (Company Number: 05219395) for the year ended 31st March 2018 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising 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 www.icaew.com/membershandbook.

This report is made solely to the Board of Director of Strata Stones Limited, as a body, in accordance with the terms of

our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Strata Stones

Limited and state those matters that we have agreed to state to them in accordance with AAF 2/10 as detailed at

www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than Strata Stones Limited and its Board of Director, as a body, for our work or for this report.

It is your duty to ensure that Strata Stones 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/loss of Strata Stones Limited.

You consider that Strata Stones 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 Strata Stones 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.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

19 December 2018

FIXED ASSETS

Tangible assets

4

693,888

546,833

Investments

5

100

-

693,988

546,833

CURRENT ASSETS

Stocks

6

2,149,507

1,487,516

Debtors

7

1,316,142

1,489,506

Cash at bank and in hand

4,432

47,021

3,470,081

3,024,043

CREDITORS

Amounts falling due within one year

8

3,953,628

3,250,331

NET CURRENT LIABILITIES

(483,547

)

(226,288

)

TOTAL ASSETS LESS CURRENT LIABILITIES

210,441

320,545

CREDITORS

Amounts falling due after more than one year

9

(104,437

)

(138,650

)

PROVISIONS FOR LIABILITIES

11

(53,488

)

(21,850

)

NET ASSETS

52,516

160,045

CAPITAL AND RESERVES

Called up share capital

10,496

10,496

Undistributable reserve

12

203,717

93,150

Retained earnings

12

(161,697

)

56,399

SHAREHOLDERS' FUNDS

52,516

160,045

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 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 Board of Directors on 19 December 2018 and were signed on its behalf by:

N D Williams - Director

1.	STATUTORY INFORMATION

Strata Stones Limited 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 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Strata Stones Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

life.

Long leasehold

- 2% on cost

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Computer equipment

- 50% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals paid under operating lease are charged to the profit and loss account 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 20 (2017 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2017

588,304

20,746

17,853

Additions

-

-

1,882

Revaluations

166,515

-

-

At 31 March 2018

754,819

20,746

19,735

DEPRECIATION

At 1 April 2017

48,203

19,082

17,853

Charge for year

15,799

1,628

424

At 31 March 2018

64,002

20,710

18,277

NET BOOK VALUE

At 31 March 2018

690,817

36

1,458

At 31 March 2017

540,101

1,664

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2017

3,314

69,807

700,024

Additions

1

2,468

4,351

Revaluations

-

-

166,515

At 31 March 2018

3,315

72,275

870,890

DEPRECIATION

At 1 April 2017

3,314

64,739

153,191

Charge for year

1

5,959

23,811

At 31 March 2018

3,315

70,698

177,002

NET BOOK VALUE

At 31 March 2018

-

1,577

693,888

At 31 March 2017

-

5,068

546,833

Long leasehold property was revalued on an open market basis on the 31st March 2018 by the directors. Any

unrealised gains/losses on the revaluation of property is shown as an undistributable reserve on the Statement of

Changes in Equity.

Cost or valuation at 31 March 2018 is represented by:

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

Valuation in 2017

588,304

20,746

17,853

Valuation in 2018

166,515

-

-

Cost

-

-

1,882

754,819

20,746

19,735

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2017

3,314

69,807

700,024

Valuation in 2018

-

-

166,515

Cost

1

2,468

4,351

3,315

72,275

870,890

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 March 2018

100

NET BOOK VALUE

At 31 March 2018

100

During the year the company acquired 100% of the share capital of Strata Stones Ltd, a company incorporated in

Ireland.

6.

STOCKS

2018

2017

£

£

Goods for resale

2,149,507

1,487,516

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,084,999

1,280,132

Other debtors

231,143

209,374

1,316,142

1,489,506

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

939,638

853,134

Trade creditors

2,467,130

1,740,348

Taxation and social security

49,615

77,290

Other creditors

497,245

579,559

3,953,628

3,250,331

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

104,437

138,650

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,799

1,799

There exists fixed and floating charges over the assets of the company.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

964,650

991,784

11.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred taxation

53,488

21,850

Deferred

tax

£

Balance at 1 April 2017

21,850

Provided during year

31,638

Balance at 31 March 2018

53,488

12.

RESERVES

Retained

Undistributable

earnings

reserve

Totals

£

£

£

At 1 April 2017

56,399

93,150

149,549

Deficit for the year

(83,219

)

-

(83,219

)

Transfer

(134,877

)

134,877

-

Prior year adjustment

-

(24,310

)

(24,310

)

At 31 March 2018

(161,697

)

203,717

42,020

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

2018

2017

£

£

S Agrawal

Balance outstanding at start of year

84,477

83,343

Amounts advanced

-

1,134

Amounts repaid

(22,366

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

62,111

84,477

Interest has been charged on a daily basis on directors' loans and advances at the statutory rate of 4% per annum.

The directors' loans and advances have no set repayment dates.

14.	RELATED PARTY DISCLOSURES

The company owes its Parent undertaking Christianborg Ltd £336,519 (2017: £336,519). This loan has been

granted free of interest but is subject to repayment on demand.