Stuart Simpson Joinery Specialist Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04615635 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Stuart Simpson Joinery Specialist Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Simpson

SECRETARY:

Ms K L Simpson

REGISTERED OFFICE:

Lodge Farm

Mill Lane

Colne Engaine

Colchester

Essex

CO6 2HX

REGISTERED NUMBER:

04615635 (England and Wales)

ACCOUNTANTS:

Steven Burton & Co Limited

Broomfield Park

Coggeshall Road

Earls Colne

Colchester

Essex

CO6 2JX

FIXED ASSETS

Tangible assets

4

8,208

9,821

CURRENT ASSETS

Stocks

5,000

2,000

Debtors

5

68,042

47,982

Cash at bank

5

5

73,047

49,987

CREDITORS

Amounts falling due within one year

6

79,513

57,232

NET CURRENT LIABILITIES

(6,466

)

(7,245

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,742

2,576

PROVISIONS FOR LIABILITIES

1,396

1,666

NET ASSETS

346

910

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

345

909

SHAREHOLDERS' FUNDS

346

910

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 25 September 2019 and were signed by:

S Simpson - Director

1.	STATUTORY INFORMATION

Stuart Simpson Joinery Specialist Ltd. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amounts, excluding Value Added Tax, derived from the supply of timber household

fitments.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets

and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related

parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in

profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the

asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

44,295

Additions

3,546

At 31 December 2018

47,841

DEPRECIATION

At 1 January 2018

34,474

Charge for year

5,159

At 31 December 2018

39,633

NET BOOK VALUE

At 31 December 2018

8,208

At 31 December 2017

9,821

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

16,103

17,843

Other debtors

51,939

30,139

68,042

47,982

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

18,476

24,249

Trade creditors

20,741

8,250

Taxation and social security

39,105

23,226

Other creditors

1,191

1,507

79,513

57,232

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31 December 2017:

31.12.18

31.12.17

£

£

S Simpson

Balance outstanding at start of year

28,674

15,543

Amounts advanced

51,536

64,864

Amounts repaid

(29,024

)

(51,733

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

51,186

28,674

Interest is charged on the loan to the director at a commercial rate and is repayable on demand.