Barkwall Joinery Limited Accounts

BARKWALL JOINERY LIMITED - Company Information






Barkwall Joinery Limited
	Company No. 06934478
		Information for Filing with The Registrar
		30 June 2018

The Director presents his report and the accounts for the year ended 30 June 2018.

Principal activities
The principal activity of the company during the year under review was specialist joinery installations.




Director

The Director who served at any time during the year was as follows:

D.M. Taylor



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D.M. Taylor
Director
26 March 2019

at	30 June 2018
Company No.		06934478	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		2	23,996	3,286


				23,996	3,286
Current assets
	Stocks			-	2,100
	Debtors			67,911	30,297

	Cash at bank and in hand			-	712
				67,911	33,109
Creditors: Amount falling due within one year				(55,069)	(16,059)
Net current assets				12,842	17,050
Total assets less current liabilities				36,838	20,336




Net assets				36,838	20,336

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		3	36,837	20,335

Total equity				36,838	20,336


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 June 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 30 June 2018 in accordance with the Companies Act 2006.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 26 March 2019
And signed on its behalf by:
D.M. Taylor
Director

for the year ended 30 June 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Tangible fixed assets
			Total
			£
		Cost or revaluation
		At 1 July 2017	5,111
		Additions	29,316



		At 30 June 2018	34,427
		Depreciation
		At 1 July 2017	1,825
		Charge for the year	8,606



		At 30 June 2018	10,431
		Net book values
		At 30 June 2018	23,996
		At 30 June 2017	3,286

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

4	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	2,000	5,000

			2,000	5,000

		Dividends by type:

		Equity dividends	2,000	5,000
			2,000	5,000

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

Its registered number is:

06934478

Its registered office is:

Seamount Business Services

Birch Suite Mamhilad House

Mamhilad Park Estate

Pontypool

NP4 0HZ