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REGISTERED NUMBER: 04646307 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2017

FOR

GLEBE STONE SALES LIMITED

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLEBE STONE SALES LIMITED

COMPANY INFORMATION
for the Year Ended 31st January 2017







DIRECTORS: T Smith
A M Smith





SECRETARY: T Smith





REGISTERED OFFICE: Heritage Barn
13 Main Street
Upton
Newark
Nottinghamshire
NG23 5ST





REGISTERED NUMBER: 04646307 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

BALANCE SHEET
31st January 2017

31/1/17 31/1/16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 20,000
Tangible assets 5 231,213 219,697
241,213 239,697

CURRENT ASSETS
Debtors 6 56,085 99,472
Cash at bank 43,760 48,161
99,845 147,633
CREDITORS
Amounts falling due within one year 7 115,509 133,147
NET CURRENT (LIABILITIES)/ASSETS (15,664 ) 14,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,549

254,183

CREDITORS
Amounts falling due after more than one
year

8

(57,741

)

(85,279

)

PROVISIONS FOR LIABILITIES 9 (41,628 ) (38,312 )
NET ASSETS 126,180 130,592

CAPITAL AND RESERVES
Called up share capital 10 997 997
Retained earnings 11 125,183 129,595
SHAREHOLDERS' FUNDS 126,180 130,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2017 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.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

BALANCE SHEET - continued
31st January 2017


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 21st April 2017 and were signed on its behalf by:




T Smith - Director



A M Smith - Director


GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2017

1. STATUTORY INFORMATION

Glebe Stone Sales 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.

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 2003, is being amortised evenly over its estimated useful life of fifteen 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 - 20% on cost and 10% on reducing balance
Fixtures and fittings - 50% on cost
Computer equipment - 33% on cost

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 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.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2017

2. ACCOUNTING POLICIES - continued

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.

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 4 (2016 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2016
and 31st January 2017 150,000
AMORTISATION
At 1st February 2016 130,000
Charge for year 10,000
At 31st January 2017 140,000
NET BOOK VALUE
At 31st January 2017 10,000
At 31st January 2016 20,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st February 2016 418,988 651 11,995 1,463 433,097
Additions 85,657 - - - 85,657
At 31st January 2017 504,645 651 11,995 1,463 518,754
DEPRECIATION
At 1st February 2016 205,110 651 6,512 1,127 213,400
Charge for year 72,541 - 1,371 229 74,141
At 31st January 2017 277,651 651 7,883 1,356 287,541
NET BOOK VALUE
At 31st January 2017 226,994 - 4,112 107 231,213
At 31st January 2016 213,878 - 5,483 336 219,697

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2017

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st February 2016 219,135
Transfer to ownership (44,245 )
At 31st January 2017 174,890
DEPRECIATION
At 1st February 2016 80,746
Charge for year 34,978
Transfer to ownership (44,245 )
At 31st January 2017 71,479
NET BOOK VALUE
At 31st January 2017 103,411
At 31st January 2016 138,389

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/17 31/1/16
£    £   
Trade debtors 45,207 92,002
Prepayments 10,878 7,470
56,085 99,472

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/17 31/1/16
£    £   
Hire purchase contracts 27,538 32,848
Trade creditors 7,511 4,186
Tax 1,393 4,791
Social security and other taxes 694 809
VAT 8,293 6,482
Other creditors 206 -
Directors' current accounts 64,262 78,919
Accrued expenses 5,612 5,112
115,509 133,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/17 31/1/16
£    £   
Hire purchase contracts 57,741 85,279

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2017

9. PROVISIONS FOR LIABILITIES
31/1/17 31/1/16
£    £   
Deferred tax 41,628 38,312

Deferred
tax
£   
Balance at 1st February 2016 38,312
Accelerated capital allowances 3,316
Balance at 31st January 2017 41,628

10. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 31/1/17 31/1/16
value: £    £   
996 Ordinary £1 996 996
1 Ordinary 'A' Non-Voting £1 1 1
997 997

11. RESERVES
Retained
earnings
£   

At 1st February 2016 129,595
Profit for the year 18,838
Dividends (23,250 )
At 31st January 2017 125,183

12. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 January 2017 or 31st January 2016.

13. CAPITAL COMMITMENTS
31/1/17 31/1/16
£    £   
Contracted but not provided for in the
financial statements - -

14. RELATED PARTY DISCLOSURES

During the year the director Mr T Smith charged the company £ 64 (2016 - £ 22) for business use of his private
car, using HM Revenue and Customs approved rates. The directors also charged £208 each (2016 - £208 each)
for business use of residences.

GLEBE STONE SALES LIMITED (REGISTERED NUMBER: 04646307)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2017

15. ULTIMATE CONTROLLING PARTY

Mr T Smith and his wife own 100% of the issued voting shares of the company.

16. FIRST TIME ADOPTION OF FINANCIAL REPORTING STANDARD 102

These financial statements are the first which the company has prepared in accordance with the provisions of
Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The
transition to FRS 102 has had no affect on any item included within the opening balance sheet of the comparative
period at 1st February 2015, the income statement for the comparative period ended 31st January 2016 or the
closing balance sheet of the comparative period at 31st January 2016.