Future Carpentry Contractors Limited - Accounts to registrar (filleted) - small 18.2

Future Carpentry Contractors Limited - Accounts to registrar (filleted) - small 18.2

FUTURE CARPENTRY CONTRACTORS LIMITED - Company Information

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REGISTERED NUMBER: 05918173 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

FUTURE CARPENTRY CONTRACTORS LIMITED
FUTURE CARPENTRY CONTRACTORS LIMITED (REGISTERED NUMBER: 05918173)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FUTURE CARPENTRY CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2021







Director: S Robertson





Registered office: 21 New Walk
Leicester
LE1 6TE





Registered number: 05918173 (England and Wales)





Accountants: Sturgess Hutchinson
Chartered Certified Accountants
21 New Walk
Leicester
LE1 6TE
1
FUTURE CARPENTRY CONTRACTORS LIMITED (REGISTERED NUMBER: 05918173)

BALANCE SHEET
31 AUGUST 2021

2021 2020
Notes £    £    £    £   
Fixed assets
Tangible assets 4 85,928 63,078

Current assets
Stocks 72,500 7,000
Debtors 5 40,665 72,496
Cash at bank and in hand 101,386 181,512
214,551 261,008
Creditors
Amounts falling due within one year 6 78,673 112,134
Net current assets 135,878 148,874
Total assets less current liabilities 221,806 211,952

Creditors
Amounts falling due after more than one
year
7
(36,690
)
(51,250
)

Provisions for liabilities (16,327 ) (11,985 )
Net assets 168,789 148,717

Capital and reserves
Called up share capital 1 1
Retained earnings 168,788 148,716
168,789 148,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 March 2022 and were signed by:





S Robertson - Director


The notes form part of these financial statements

2
FUTURE CARPENTRY CONTRACTORS LIMITED (REGISTERED NUMBER: 05918173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

1. Statutory information

Future Carpentry Contractors Limited 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.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. Employees and directors

The average number of employees during the year was 1 (2020 - 1 ) .

3
FUTURE CARPENTRY CONTRACTORS LIMITED (REGISTERED NUMBER: 05918173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 September 2020 165,264
Additions 88,416
Disposals (57,630 )
At 31 August 2021 196,050
Depreciation
At 1 September 2020 102,186
Charge for year 28,639
Eliminated on disposal (20,703 )
At 31 August 2021 110,122
Net book value
At 31 August 2021 85,928
At 31 August 2020 63,078

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

Plant and
machinery
etc
£   
Cost
At 1 September 2020
and 31 August 2021 57,240
Depreciation
At 1 September 2020 25,041
Charge for year 8,049
At 31 August 2021 33,090
Net book value
At 31 August 2021 24,150
At 31 August 2020 32,199

5. Debtors: amounts falling due within one year
2021 2020
£    £   
Trade debtors 22,623 22,027
Other debtors 18,042 50,469
40,665 72,496

6. Creditors: amounts falling due within one year
2021 2020
£    £   
Bank loans and overdrafts 10,648 -
Hire purchase contracts 833 7,917
Trade creditors 24,192 17,207
Taxation and social security 15,135 47,079
Other creditors 27,865 39,931
78,673 112,134

4
FUTURE CARPENTRY CONTRACTORS LIMITED (REGISTERED NUMBER: 05918173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021

7. Creditors: amounts falling due after more than one year
2021 2020
£    £   
Bank loans 36,690 50,000
Hire purchase contracts - 1,250
36,690 51,250

8. Director's advances, credits and guarantees

Other creditors includes the amount of £1,006 owed by the company to the director (2020: £1,672)

9. Ultimate controlling party

The ultimate controlling party is S Robertson.

5