THE JOINERY BARN LTD

THE JOINERY BARN LTD

NEW FOREST SIPS LTD - Company Information

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THE JOINERY BARN LTD

Company Registration Number:
07950749 (England and Wales)

Unaudited abridged accounts for the year ended 29 February 2020

Period of accounts

Start date: 01 March 2019

End date: 29 February 2020

THE JOINERY BARN LTD

Contents of the Financial Statements

for the Period Ended 29 February 2020

Balance sheet
Notes

THE JOINERY BARN LTD

Balance sheet

As at 29 February 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 51,412 63,356
Total fixed assets: 51,412 63,356
Current assets
Stocks: 5,000 7,000
Debtors:   17,819 22,065
Cash at bank and in hand: 51 51
Total current assets: 22,870 29,116
Creditors: amounts falling due within one year: 4 (172,955) (104,973)
Net current assets (liabilities): (150,085) (75,857)
Total assets less current liabilities: (98,673) (12,501)
Creditors: amounts falling due after more than one year: 5 (9,745) (22,795)
Provision for liabilities:   (5,829)
Total net assets (liabilities): (108,418) (41,125)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (108,419) (41,126)
Shareholders funds: (108,418) (41,125)

The notes form part of these financial statements

THE JOINERY BARN LTD

Balance sheet statements

For the year ending 29 February 2020 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 28 February 2021
and signed on behalf of the board by:

Name: Max Abbott
Status: Director

The notes form part of these financial statements

THE JOINERY BARN LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated usefullife.Plant and machinery etc - 2 5% on reducing balance, 20% on reducing balance and 15% on reducing balance

Other accounting policies

StocksStocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.TaxationTaxation 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 statement of financial position date.Deferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 & leasing commitmentsRentals 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 benefitsThe 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.

THE JOINERY BARN LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

2. Employees

2020 2019
Average number of employees during the period 4 3

THE JOINERY BARN LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

3. Tangible Assets

Total
Cost £
At 01 March 2019 133,049
Additions 5,192
At 29 February 2020 138,241
Depreciation
At 01 March 2019 69,693
Charge for year 17,136
At 29 February 2020 86,829
Net book value
At 29 February 2020 51,412
At 28 February 2019 63,356

THE JOINERY BARN LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

4. Creditors: amounts falling due within one year note

Bank loans & overdrafts £18440 (2019: £9818)Hire purchase contracts £14197 (2019: £10281)Trade creditors £39719 (2019: £49902)Taxation & social security £45446 (2019: £17406)Other creditors £55153 (2019: £17566)Total £172955 (2019: £104973)

THE JOINERY BARN LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

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

Hire purchase contracts £9745 (2019: £22795)