Station Yard Joinery Limited 31/10/2022 iXBRL

Station Yard Joinery Limited 31/10/2022 iXBRL

STATION YARD JOINERY LIMITED - Company Information

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3 31/10/2022 2022-10-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-11-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09150159 2021-11-01 2022-10-31 09150159 2022-10-31 09150159 2021-10-31 09150159 2020-11-01 2021-10-31 09150159 2021-10-31 09150159 core:PlantMachinery 2021-11-01 2022-10-31 09150159 core:MotorVehicles 2021-11-01 2022-10-31 09150159 bus:Director1 2021-11-01 2022-10-31 09150159 core:PlantMachinery 2021-10-31 09150159 core:MotorVehicles 2021-10-31 09150159 core:PlantMachinery 2022-10-31 09150159 core:MotorVehicles 2022-10-31 09150159 core:WithinOneYear 2022-10-31 09150159 core:WithinOneYear 2021-10-31 09150159 core:ShareCapital 2022-10-31 09150159 core:ShareCapital 2021-10-31 09150159 core:RetainedEarningsAccumulatedLosses 2022-10-31 09150159 core:RetainedEarningsAccumulatedLosses 2021-10-31 09150159 core:PlantMachinery 2021-10-31 09150159 core:MotorVehicles 2021-10-31 09150159 bus:SmallEntities 2021-11-01 2022-10-31 09150159 bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 09150159 bus:FullAccounts 2021-11-01 2022-10-31 09150159 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 09150159 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31
Company registration number: 09150159
Station Yard Joinery Limited
Unaudited filleted financial statements
31 October 2022
Station Yard Joinery Limited
Contents
Statement of financial position
Notes to the financial statements
Station Yard Joinery Limited
Statement of financial position
31 October 2022
31/10/22 31/10/21
Note £ £ £ £
Fixed assets
Tangible assets 5 46,528 34,985
_______ _______
46,528 34,985
Current assets
Stocks 1,700 4,350
Debtors 6 49,508 37,013
Cash at bank and in hand 15,734 2,357
_______ _______
66,942 43,720
Creditors: amounts falling due
within one year 7 ( 77,594) ( 40,751)
_______ _______
Net current (liabilities)/assets ( 10,652) 2,969
_______ _______
Total assets less current liabilities 35,876 37,954
Provisions for liabilities ( 6,647) ( 6,647)
_______ _______
Net assets 29,229 31,307
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,129 31,207
_______ _______
Shareholders funds 29,229 31,307
_______ _______
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 June 2023 , and are signed on behalf of the board by:
Mr M Conboy
Director
Company registration number: 09150159
Station Yard Joinery Limited
Notes to the financial statements
Year ended 31 October 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation 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
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 1 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 November 2021 20,155 24,295 44,450
Additions 21,286 - 21,286
_______ _______ _______
At 31 October 2022 41,441 24,295 65,736
_______ _______ _______
Depreciation
At 1 November 2021 1,873 7,592 9,465
Charge for the year 5,567 4,176 9,743
_______ _______ _______
At 31 October 2022 7,440 11,768 19,208
_______ _______ _______
Carrying amount
At 31 October 2022 34,001 12,527 46,528
_______ _______ _______
At 31 October 2021 18,282 16,703 34,985
_______ _______ _______
6. Debtors
31/10/22 31/10/21
£ £
Trade debtors 40,174 33,374
Other debtors 9,334 3,639
_______ _______
49,508 37,013
_______ _______
7. Creditors: amounts falling due within one year
31/10/22 31/10/21
£ £
Bank loans and overdrafts 1,625 -
Trade creditors 10,549 8,614
Social security and other taxes 21,232 8,221
Other creditors 44,188 23,916
_______ _______
77,594 40,751
_______ _______