N Turner Joinery Contractors Limited Filleted accounts for Companies House (small and micro)

N TURNER JOINERY CONTRACTORS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03552178

N TURNER JOINERY CONTRACTORS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

6 April 2022

N TURNER JOINERY CONTRACTORS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 6 APRIL 2022

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 5

N TURNER JOINERY CONTRACTORS LIMITED

BALANCE SHEET

6 April 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	7,971	9,752

Current assets

Debtors	6	21,114	14,281
Cash at bank and in hand		13,999	29,023
		------------	------------
		35,113	43,304

Creditors: amounts falling due within one year	7	( 18,117)	( 21,238)
		------------	------------
Net current assets		16,996	22,066
		------------	------------
Total assets less current liabilities		24,967	31,818

Provisions

Taxation including deferred tax	( 1,515)	( 1,853)
	------------	------------
Net assets	23,452	29,965
	------------	------------

Capital and reserves

Called up share capital	9	1	1
Profit and loss account		23,451	29,964
		------------	------------
Shareholders funds		23,452	29,965
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 6 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 September 2022 , and are signed on behalf of the board by:

N G Turner Director

Company registration number: 03552178

N TURNER JOINERY CONTRACTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 6 APRIL 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Mushroom Farm, Penistone Road, Hade Edge, Holmfirth, West Yorkshire, HD9 2JG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the value of work done in the year, including estimates of amounts not invoiced at the year end by reference to the stage of completion.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost
At 7 April 2021 and 6 April 2022	15,920	17,865	1,471	35,256
	------------	------------	------------	------------
Depreciation
At 7 April 2021	9,348	14,685	1,471	25,504
Charge for the year	986	795	–	1,781
	------------	------------	------------	------------
At 6 April 2022	10,334	15,480	1,471	27,285
	------------	------------	------------	------------
Carrying amount
At 6 April 2022	5,586	2,385	–	7,971
	------------	------------	------------	------------
At 6 April 2021	6,572	3,180	–	9,752
	------------	------------	------------	------------

6. Debtors

	2022	2021
	£	£
Prepayments and accrued income	238	710
CIS recoverable	20,876	13,571
	------------	------------
	21,114	14,281
	------------	------------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Accruals and deferred income	1,104	2,916
Corporation tax	1,699	3,541
Director's loan account	15,314	14,781
	------------	------------
	18,117	21,238
	------------	------------

8. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2022	2021
	£	£
Included in provisions	1,515	1,853
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2022	2021
	£	£
Accelerated capital allowances	1,515	1,853
	------------	------------

9. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	------------	------------	------------	------------

10. Related party transactions

Included within creditors is an amount of £15,314 (2021: £14,781) in respect of a loan from the director to the company. This amount is unsecured, repayable on demand and currently interest-free.