Certainly Wood Limited - Accounts to registrar (filleted) - small 18.2
Certainly Wood Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2021 |
| for |
| Certainly Wood Limited |
| Certainly Wood Limited (Registered number: 05473995) |
| Contents of the Financial Statements |
| for the year ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Certainly Wood Limited |
| Company Information |
| for the year ended 31 March 2021 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Unit 2 Foley Works |
| Foley Industrial Estate |
| Hereford |
| Herefordshire |
| HR1 2SF |
| Certainly Wood Limited (Registered number: 05473995) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium | 12 |
| Capital redemption reserve | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Certainly Wood Limited (Registered number: 05473995) |
| Balance Sheet - continued |
| 31 March 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Certainly Wood Limited (Registered number: 05473995) |
| Notes to the Financial Statements |
| for the year ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Certainly Wood Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Office equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as 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. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Certainly Wood Limited (Registered number: 05473995) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 |
| Rentals 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 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Patents |
| and | Website |
| Goodwill | licences | development | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| Amortisation |
| At 1 April 2020 |
| Amortisation for year |
| At 31 March 2021 |
| Net book value |
| At 31 March 2021 |
| At 31 March 2020 |
| Certainly Wood Limited (Registered number: 05473995) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2021 |
| 6. | TANGIBLE FIXED ASSETS |
| Land and | Plant and | Motor | Office |
| buildings | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 April 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2021 |
| Depreciation |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| Net book value |
| At 31 March 2021 |
| At 31 March 2020 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Other creditors |
| Certainly Wood Limited (Registered number: 05473995) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2021 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| There is also a debenture including a Fixed Equitable Charge over all present and future freehold and leasehold property and Fixed and Floating Charges over all assets and undertaking both present and future to be given by Certainly Wood Limited. |
| Bank loans and overdrafts are secured on the personal assets of Mr S G Snell and by personal guarantee for £50,000. In addition Mr N H Snell has given a personal guarantee limited to £100,000. |
| In addition to the above, the directors have provided various sums that total £120,922 to secure bank borrowings. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary (subdivided into four |
| different classes) | £1 | 27,260 | 29,038 |
| The ordinary shares are subdivided into four classes that carry full voting rights but can receive different levels of dividend. The classes of ordinary share are split as follows:- |
| Ordinary "A" | 11,408 |
| Ordinary "B" | 11,408 |
| Ordinary "C" | 1,185 |
| Ordinary "D" | 3,259 |
| During the year, the company re-purchased 1,778 Ordinary C shares for £150,000. |
| 12. | RESERVES |
| Capital |
| Retained | Share | redemption |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 April 2020 | 739,070 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Purchase of own shares | (150,000 | ) | - | 1,778 | (148,222 | ) |
| At 31 March 2021 | 1,216,827 |