Bowkirk Joinery Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08403197 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

BOWKIRK JOINERY SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P A Bowery

J M Kirk

REGISTERED OFFICE:

Suite 1

54a High Street

Normanton

Wakefield

West Yorkshire

WF6 2AQ

REGISTERED NUMBER:

08403197 (England and Wales)

ACCOUNTANTS:

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

FIXED ASSETS

Tangible assets

4

9,143

11,028

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

5

562,744

402,206

Cash at bank

74,188

39,919

638,932

444,125

CREDITORS

Amounts falling due within one year

6

508,825

327,151

NET CURRENT ASSETS

130,107

116,974

TOTAL ASSETS LESS CURRENT LIABILITIES

139,250

128,002

PROVISIONS FOR LIABILITIES

1,245

1,499

NET ASSETS

138,005

126,503

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

137,905

126,403

138,005

126,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 18 October 2019 and were signed on its behalf by:

P A Bowery - Director

J M Kirk - Director

1.	STATUTORY INFORMATION

Bowkirk Joinery Solutions 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 relates to the provision of joinery and related services and 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance fo obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

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 6 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 March 2018

19,042

3,436

3,577

26,055

Additions

-

-

504

504

At 28 February 2019

19,042

3,436

4,081

26,559

DEPRECIATION

At 1 March 2018

11,569

1,524

1,934

15,027

Charge for year

1,750

382

257

2,389

At 28 February 2019

13,319

1,906

2,191

17,416

NET BOOK VALUE

At 28 February 2019

5,723

1,530

1,890

9,143

At 28 February 2018

7,473

1,912

1,643

11,028

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade debtors

420,010

283,928

Other debtors

142,734

118,278

562,744

402,206

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade creditors

125,025

73,704

Taxation and social security

160,183

173,878

Other creditors

223,617

79,569

508,825

327,151

7.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.19

28.2.18

£

£

Debt factor account

164,724

67,949

Amounts due to the debt factor service are secured against the company's sales ledger.

8.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £56,744 (2018 - £35,788).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2019 and

28 February 2018:

28.2.19

28.2.18

£

£

J M Kirk

Balance outstanding at start of year

72,008

46,762

Amounts advanced

53,904

63,243

Amounts repaid

(44,587

)

(37,997

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

81,325

72,008

P A Bowery

Balance outstanding at start of year

33,303

(879

)

Amounts advanced

57,022

75,293

Amounts repaid

(44,211

)

(41,111

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

46,114

33,303

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 Balance Sheet. 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

financial statements of Bowkirk Joinery Solutions Ltd for the year ended 28 February 2019 which comprise the

Statement of Income and Retained Earnings, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bowkirk Joinery Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bowkirk Joinery Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Bowkirk Joinery Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bowkirk Joinery Solutions Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bowkirk Joinery Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bowkirk Joinery Solutions Ltd. You consider that Bowkirk Joinery Solutions Ltd 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 financial statements of Bowkirk Joinery Solutions Ltd. 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 financial statements.

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

18 October 2019