Company Registration No. 03480867 (England and Wales)
Major Timber Limited
Unaudited accounts
for the year ended 31 December 2019
Major Timber Limited
Unaudited accounts
Contents
Major Timber Limited
Company Information
for the year ended 31 December 2019
Directors
M Robinson
M Steinhart
Company Number
03480867 (England and Wales)
Registered Office
Churchill House
137-139 Brent Street
London
NW4 4DJ
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Major Timber Limited
Statement of financial position
as at 31 December 2019
Tangible assets
1,567
1,843
Cash at bank and in hand
70,953
25,199
Creditors: amounts falling due within one year
(909,343)
(1,002,487)
Net current assets
54,409
27,684
Called up share capital
100
100
Profit and loss account
55,876
29,427
Shareholders' funds
55,976
29,527
For the year ending 31 December 2019 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2020 and were signed on its behalf by
M Steinhart
Director
Company Registration No. 03480867
Major Timber Limited
Notes to the Accounts
for the year ended 31 December 2019
Major Timber Limited is a private company, limited by shares, registered in England and Wales, registration number 03480867. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Major Timber Limited
Notes to the Accounts
for the year ended 31 December 2019
4
Tangible fixed assets
Fixtures & fittings
Trade debtors
890,705
999,073
Accrued income and prepayments
2,094
5,899
6
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
59,337
281,424
Trade creditors
23,516
136,197
Taxes and social security
9,569
18,879
Other creditors
802,484
546,626
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Average number of employees
During the year the average number of employees was 3 (2018: 3).
