Hayter & Smythe Joinery Limited,Ltd - AccountsLtd - Accounts

Hayter & Smythe Joinery Limited,Ltd - AccountsLtd - Accounts

HAYTER & SMYTHE JOINERY LIMITED - Company Information

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Hayter & Smythe Joinery Limited
Registered Number:08440774
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2020
Hayter & Smythe Joinery Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08440774
As at 31 March 2020
Hayter & Smythe Joinery Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
11,327
15,103
2
11,327
15,103
Current assets
Trade and other receivables
10,344
13,303
3
5,456
Cash and cash equivalents
810
14,113
15,800
Trade and other payables: amounts falling due within one
year
(23,473)
(21,623)
4
(7,673)
(7,510)
Net current liabilities
Total assets less current liabilities
3,817
7,430
Trade and other payables: amounts falling due after more
than one year
(4,848)
(1,906)
5
(1,006)
(1,472)
Provisions for liabilities
905
Net assets
1,110
Capital and reserves
Called up share capital
100
100
Retained earnings
805
1,010
905
1,110
Shareholders' funds
For the year ended 31 March 2020 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 of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Paul Hayter Director
These financial statements were approved and authorised for issue by the Board on 17 August 2020 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2020
Hayter & Smythe Joinery Limited
Notes to the Financial Statements
Statutory Information
Hayter & Smythe Joinery Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 08440774.
Registered address:
17d Hobbs Industrial Park
New Chapel
Surrey
RH7 6HN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including the disclosure and
presentation requirements of Section 1A, and the Companies Act 2006. These financial statements have been
prepared under the historical cost convention.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
25% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Going Concern
The financial statements are prepared on a going concern basis based upon the continued support of the
company's bankers and the director.
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5
For the year ended 31 March 2020
Hayter & Smythe Joinery Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
41,590
2,068
5,890
33,632
Additions
At 31 March 2020
33,632
5,890
2,068
41,590
Provision for depreciation and impairment
At 01 April 2019
26,487
1,048
2,577
22,862
Charge for year
3,776
255
828
2,693
At 31 March 2020
30,263
1,303
3,405
25,555
At 31 March 2020
Net book value
8,077
2,485
765
11,327
3. Trade and other receivables
2019
2020
£
£
Trade debtors
2,158
10,344
Other debtors
11,145
-
10,344
13,303
4. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Bank loans and overdraft (secured)
3,130
2,996
Bank loans and overdraft
8,681
9,891
Trade creditors
1,305
3,101
Taxation and social security
7,507
6,002
Other creditors
1,000
1,483
21,623
23,473
The bank loan is secured by a personal guarantee given by the director.
5. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft (secured)
1,906
4,848
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6
For the year ended 31 March 2020
Hayter & Smythe Joinery Limited
Notes to the Financial Statements Continued
6. Directors advances and guarantees
The company made loans to the director of £11,145 (2019 - £nil) during the year. At 31 March 2020 £11,145 (2019 -
£nil) was outstanding and was repaid in full by 30 June 2020.
7. Subsequent events
Since the year end there have been global impacts on businesses as a result of COVID19. Whilst revenue has been impacted with effect from 24 March 2020, the company has continued to trade and there is no impairment of the assets and liabilities as at 31 March 2020. The director has taken advantage of the government support available to small companies where applicable in order to assist in meeting liabilities and obligations to employees and creditors. Although it is likely that trade will be affected in the year to 31 March 2021 the company is in a position to meet its liabilities as they fall due for the foreseeable future.
8. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2).
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