K Lue Carpentry Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05102984 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

K Lue Carpentry Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Lue

J Lue

SECRETARY:

J Lue

REGISTERED OFFICE:

1 Parsons Close

Horn Street

Winslow

Buckinghamshire

MK18 3AL

REGISTERED NUMBER:

05102984 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

7,483

13,497

CURRENT ASSETS

Debtors

5

53,583

26,577

Cash at bank

9,246

-

62,829

26,577

CREDITORS

Amounts falling due within one year

6

(20,037

)

(34,606

)

NET CURRENT ASSETS/(LIABILITIES)

42,792

(8,029

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,275

5,468

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

(692

)

NET ASSETS

275

4,776

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

175

4,676

SHAREHOLDERS' FUNDS

275

4,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 13 December 2021 and were signed on its behalf by:

J Lue - Director

1.	STATUTORY INFORMATION

K Lue Carpentry 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

Revenue 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

-

15% on cost and 10% on reducing balance

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 2 (2020 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 May 2020

45,480

Disposals

(10,272

)

At 30 April 2021

35,208

DEPRECIATION

At 1 May 2020

31,983

Charge for year

3,084

Eliminated on disposal

(7,342

)

At 30 April 2021

27,725

NET BOOK VALUE

At 30 April 2021

7,483

At 30 April 2020

13,497

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

Plant and

machinery

etc

£

COST

At 1 May 2020

and 30 April 2021

6,985

DEPRECIATION

At 1 May 2020

2,096

Charge for year

1,397

At 30 April 2021

3,493

NET BOOK VALUE

At 30 April 2021

3,492

At 30 April 2020

4,889

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

20,296

26,177

Other debtors

33,287

400

53,583

26,577

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

-

20,514

Hire purchase contracts

692

1,662

Taxation and social security

15,795

8,439

Other creditors

3,550

3,991

20,037

34,606

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

50,000

-

Hire purchase contracts

-

692

50,000

692

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Bank overdraft

-

20,514

The bank overdraft is secured by a debenture on the assets of the company.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is K Lue.