A. J. Ferguson And Company (Timber) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00909375 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

A. J. Ferguson And Company (Timber) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E Bluett

J L Bluett

SECRETARY:

E Bluett

REGISTERED OFFICE:

4-6 Keith Grove

Shepherds Bush

London

W12 9EZ

REGISTERED NUMBER:

00909375 (England and Wales)

ACCOUNTANTS:

R A McLeod and Co

Chartered Accountants

10 Portland Business Centre

Manor House Lane

Datchet

Berkshire

SL3 9EG

FIXED ASSETS

Tangible assets

4

178,542

188,063

CURRENT ASSETS

Stocks

241,440

243,435

Debtors

5

455,234

370,920

Cash at bank and in hand

77,467

44,871

774,141

659,226

CREDITORS

Amounts falling due within one year

6

400,848

262,700

NET CURRENT ASSETS

373,293

396,526

TOTAL ASSETS LESS CURRENT LIABILITIES

551,835

584,589

CREDITORS

Amounts falling due after more than one year

7

(49,417

)

(44,242

)

PROVISIONS FOR LIABILITIES

(29,810

)

(31,309

)

NET ASSETS

472,608

509,038

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

471,608

508,038

SHAREHOLDERS' FUNDS

472,608

509,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2020 and were signed on its behalf by:

J L Bluett - Director

1.	STATUTORY INFORMATION

A. J. Ferguson And Company (Timber) 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

4% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

moving items.

Taxation

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 12 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2019

11,363

43,566

305,637

Additions

-

-

-

Disposals

-

-

-

At 31 December 2019

11,363

43,566

305,637

DEPRECIATION

At 1 January 2019

-

31,649

215,558

Charge for year

-

1,743

22,519

Eliminated on disposal

-

-

-

At 31 December 2019

-

33,392

238,077

NET BOOK VALUE

At 31 December 2019

11,363

10,174

67,560

At 31 December 2018

11,363

11,917

90,079

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

101,982

98,307

65,524

626,379

Additions

-

49,255

829

50,084

Disposals

-

(45,418

)

-

(45,418

)

At 31 December 2019

101,982

102,144

66,353

631,045

DEPRECIATION

At 1 January 2019

71,112

69,420

50,577

438,316

Charge for year

7,718

18,154

3,944

54,078

Eliminated on disposal

-

(39,891

)

-

(39,891

)

At 31 December 2019

78,830

47,683

54,521

452,503

NET BOOK VALUE

At 31 December 2019

23,152

54,461

11,832

178,542

At 31 December 2018

30,870

28,887

14,947

188,063

Freehold property is the cost of the freehold of 133 South Ealing Road, London W5 4QS.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2019

189,840

52,889

242,729

Additions

-

49,255

49,255

At 31 December 2019

189,840

102,144

291,984

DEPRECIATION

At 1 January 2019

79,544

32,768

112,312

Charge for year

-

18,154

18,154

At 31 December 2019

79,544

50,922

130,466

NET BOOK VALUE

At 31 December 2019

110,296

51,222

161,518

At 31 December 2018

110,296

20,121

130,417

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

123,123

178,609

Other debtors

750

-

Staff loans

14,100

4,700

Directors' current accounts

263,116

135,372

S455 tax refund due

38,804

38,804

Prepayments

15,341

13,435

455,234

370,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Funding Circle loan

122,500

-

Hire purchase contracts

42,432

46,818

Trade creditors

185,392

160,645

Social security and other taxes

13,850

11,789

VAT

22,086

37,434

Accrued expenses

14,588

6,014

400,848

262,700

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Hire purchase contracts

49,417

44,242

8.	OTHER FINANCIAL COMMITMENTS

The lease of the company's premises can be terminated without notice by either party subject to statutory

commercial tenancy rights of occupation.The rent payable over the next 12 months is £87,504.

9.	DEFERRED TAX

The deferred tax provision is £29,830 (2018: £31,309)