Registration number:
Huddersfield Joinery Limited
for the
Year Ended 31 March 2020
Huddersfield Joinery Limited
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Huddersfield Joinery Limited
Company Information
Directors |
C Wilkes A Birkhead |
Registered office |
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Accountants |
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Page 1 |
Huddersfield Joinery Limited
Directors' Report
for the
Year Ended 31 March 2020
The directors present their report and the financial statements for the year ended 31 March 2020.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is joinery.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Director
Page 2 |
Huddersfield Joinery Limited
(Registration number:
05286212
)
Balance Sheet
as at
31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
Huddersfield Joinery Limited
(Registration number:
05286212
)
Balance Sheet
as at
31 March 2020
Approved and authorised by the
.........................................
Director
Page 4 |
Huddersfield Joinery Limited
Notes to the Financial Statements
for the
Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover
Turnover represents the net sales of goods, excluding value added tax.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 5 |
Huddersfield Joinery Limited
Notes to the Financial Statements
for the
Year Ended 31 March 2020
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Tools and equipment |
25% on reducing balance |
Motor vehicles |
25% on reducing balance |
Office equipment |
25% on reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Evenly over 5 years |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Page 6 |
Huddersfield Joinery Limited
Notes to the Financial Statements
for the
Year Ended 31 March 2020
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2019 |
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At 31 March 2020 |
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Amortisation |
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At 1 April 2019 |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
- |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2019 - £Nil).
Page 7 |
Huddersfield Joinery Limited
Notes to the Financial Statements
for the
Year Ended 31 March 2020
Tangible assets |
Improvements to property |
Tools and equipment |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2019 |
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Additions |
- |
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- |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
- |
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Charge for the year |
- |
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At 31 March 2020 |
- |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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Stocks |
2020 |
2019 |
Debtors |
2020 |
2019 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Page 8 |
Huddersfield Joinery Limited
Notes to the Financial Statements
for the
Year Ended 31 March 2020
Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Page 9 |