Company Registration No. 01324257 (England and Wales)
Treeway Fencing Limited
Unaudited accounts
for the year ended 31 March 2021
Treeway Fencing Limited
Unaudited accounts
Contents
Treeway Fencing Limited
Company Information
for the year ended 31 March 2021
Directors
K D Greenaway
T D Greenaway
Company Number
01324257 (England and Wales)
Registered Office
528 Walsall Road
Landywood
Nr Walsall
Staffordshire
WS6 6AG
Accountants
Helen J Senior
The Azaleas
Norchard, Crossway Green
Stourport
Worcs
DY13 9SN
Treeway Fencing Limited
Statement of financial position
as at 31 March 2021
Tangible assets
654,705
515,124
Inventories
700,000
550,000
Cash at bank and in hand
900,948
122,765
Creditors: amounts falling due within one year
(1,828,290)
(1,309,816)
Net current assets
947,067
354,978
Total assets less current liabilities
1,601,772
870,102
Creditors: amounts falling due after more than one year
(354,189)
(75,751)
Provisions for liabilities
Deferred tax
(94,000)
(61,000)
Net assets
1,153,583
733,351
Called up share capital
10,000
10,000
Profit and loss account
1,143,583
723,351
Shareholders' funds
1,153,583
733,351
For the year ending 31 March 2021 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 10 September 2021 and were signed on its behalf by
K D Greenaway
Director
Company Registration No. 01324257
Treeway Fencing Limited
Notes to the Accounts
for the year ended 31 March 2021
Treeway Fencing Limited is a private company, limited by shares, registered in England and Wales, registration number 01324257. The registered office is 528 Walsall Road, Landywood, Nr Walsall, Staffordshire, WS6 6AG.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
varying rates on cost over useful life
Plant & machinery
15% reducing balance method
Motor vehicles
25% reducing balance method
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Treeway Fencing Limited
Notes to the Accounts
for the year ended 31 March 2021
Hire purchase and leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
212,875
1,655,702
427,284
2,295,861
Additions
-
-
267,975
267,975
Disposals
-
(27,856)
(176,583)
(204,439)
At 31 March 2021
212,875
1,627,846
518,676
2,359,397
At 1 April 2020
48,924
1,434,713
297,100
1,780,737
Charge for the year
2,460
32,379
53,757
88,596
On disposals
-
(21,648)
(142,993)
(164,641)
At 31 March 2021
51,384
1,445,444
207,864
1,704,692
At 31 March 2021
161,491
182,402
310,812
654,705
At 31 March 2020
163,951
220,989
130,184
515,124
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
42,611
50,125
- Motor vehicles
241,878
70,266
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
1,063,193
890,186
Accrued income and prepayments
111,216
93,255
Treeway Fencing Limited
Notes to the Accounts
for the year ended 31 March 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
12,780
12,780
Obligations under finance leases and hire purchase contracts
74,298
43,278
Trade creditors
1,131,762
754,378
Taxes and social security
136,589
56,016
Other creditors
290,846
206,597
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
140,846
29,956
Loans from directors
27,133
-
Allotted, called up and fully paid:
10,000 Ordinary shares of £1 each
10,000
10,000
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £25,455 (2020: £26,848).
10
Operating lease commitments
2021
2020
At 31 March 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
182,500
134,500
11
Transactions with related parties
The company has in the past contributed to a small self-administered pension scheme (SSAS) for the benefit of the Directors who are also the Managing Trustees of the SSAS.
No contributions were made to the SSAS during the year (2019: Nil) and no further contributions into the SSAS will be made under Fixed Protection 2016.
The SSAS owns the land and buildings from which the company trades. These are leased to the company at a normal commercial rent.
Mr K D Greenaway and Mr T D Greenaway have made loans to the company which are being repaid as cash flow allows.
Treeway Fencing Limited
Notes to the Accounts
for the year ended 31 March 2021
The company is controlled by the directors who own 100% of the called up share capital.
13
Average number of employees
During the year the average number of employees was 66 (2020: 60).
