2-T JOINERS LIMITED

2-T JOINERS LIMITED

2-T JOINERS LIMITED - Company Information

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2-T JOINERS LIMITED

Company Registration Number:
SC475778 (Scotland)

Unaudited abridged accounts for the year ended 30 April 2019

Period of accounts

Start date: 01 May 2018

End date: 30 April 2019

2-T JOINERS LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2019

Balance sheet
Notes

2-T JOINERS LIMITED

Balance sheet

As at 30 April 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 14,472 19,296
Total fixed assets: 14,472 19,296
Current assets
Stocks: 274,994 292,086
Debtors:   115,282 160,121
Cash at bank and in hand: 34,740 50,441
Total current assets: 425,016 502,648
Creditors: amounts falling due within one year: 4 (257,495) (297,736)
Net current assets (liabilities): 167,521 204,912
Total assets less current liabilities: 181,993 224,208
Creditors: amounts falling due after more than one year: 5 (53,759) (71,256)
Provision for liabilities: (2,750) (3,313)
Total net assets (liabilities): 125,484 149,639
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 125,384 149,539
Shareholders funds: 125,484 149,639

The notes form part of these financial statements

2-T JOINERS LIMITED

Balance sheet statements

For the year ending 30 April 2019 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 January 2020
and signed on behalf of the board by:

Name: Mr Raymond Clark
Status: Director

The notes form part of these financial statements

2-T JOINERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values overtheir useful lives on the following bases:Plant and machinery 25% Reducing balanceComputer equipment 25% Reducing balanceMotor vehicles 25% Reducing balanceThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

2-T JOINERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

2. Employees

2019 2018
Average number of employees during the period 7 11

2-T JOINERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

3. Tangible Assets

Total
Cost £
At 01 May 2018 34,307
At 30 April 2019 34,307
Depreciation
At 01 May 2018 15,011
Charge for year 4,824
At 30 April 2019 19,835
Net book value
At 30 April 2019 14,472
At 30 April 2018 19,296

2-T JOINERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

4. Creditors: amounts falling due within one year note

Bank loans and overdrafts: £131,115 (2018: £139,677)Trade creditors: £57,102 (2018: £75,200)Corporation tax: £10,736 (2018: £13,184)Other taxation and social security: £49,106 (2018: £50,849)Other creditors: £9,436 (2018: £18,826)

2-T JOINERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

5. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts: £49,962 (2018: £60,162)Other creditors: £3,797 (2018: £11,094)