Woodcraft Joinery Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02443322 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

WOODCRAFT JOINERY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Peters

T M Hale

I Walker

J C E Westwood

M Peters

P Cooper

SECRETARY:

J C E Westwood

REGISTERED OFFICE:

Unit 1B

Talbots Lane

Brierley Hill

West Midlands

DY5 2YX

REGISTERED NUMBER:

02443322 (England and Wales)

ACCOUNTANTS:

Crombies Accountants Limited

Chartered Accountants

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

FIXED ASSETS

Tangible assets

4

79,763

44,789

CURRENT ASSETS

Stocks

306,761

257,300

Debtors

5

316,592

533,561

Cash at bank and in hand

601,049

237,871

1,224,402

1,028,732

CREDITORS

Amounts falling due within one year

6

692,890

441,090

NET CURRENT ASSETS

531,512

587,642

TOTAL ASSETS LESS CURRENT LIABILITIES

611,275

632,431

CREDITORS

Amounts falling due after more than one year

7

98,100

166,227

NET ASSETS

513,175

466,204

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

513,173

466,202

SHAREHOLDERS' FUNDS

513,175

466,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 May 2023 and were signed on its behalf by:

I Walker - Director

1.	STATUTORY INFORMATION

Woodcraft Joinery 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2022

268,908

20,671

96,508

386,087

Additions

-

3,880

41,500

45,380

Disposals

-

-

(34,388

)

(34,388

)

At 31 January 2023

268,908

24,551

103,620

397,079

DEPRECIATION

At 1 February 2022

228,075

16,793

96,430

341,298

Charge for year

8,950

1,378

20

10,348

Eliminated on disposal

-

-

(34,330

)

(34,330

)

At 31 January 2023

237,025

18,171

62,120

317,316

NET BOOK VALUE

At 31 January 2023

31,883

6,380

41,500

79,763

At 31 January 2022

40,833

3,878

78

44,789

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

169

56,486

Amounts owed by group undertakings

280,100

447,249

Other debtors

36,323

29,826

316,592

533,561

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

68,128

56,773

Trade creditors

484,126

332,345

Taxation and social security

122,098

38,399

Other creditors

18,538

13,573

692,890

441,090

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

98,100

166,227

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

9.	ULTIMATE HOLDING COMPANY

The company's ultimate holding company is Talbot Lane Holdings Limited, a company registered in England and Wales whose registered office is located at 34 Waterloo Road, Wolverhampton WV1 4DG.