ESTATE JOINERY LTD

ESTATE JOINERY LTD - Company Information

2022-04-012023-03-312023-03-31falseSC540522ESTATE JOINERY 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ESTATE JOINERY LTD

Registered Number
SC540522
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2023

ESTATE JOINERY LTD

Company Information
for the year from 1 April 2022 to 31 March 2023


Director	BALAMS, Armands


Registered Address	36 Angusfield Avenue
	Aberdeen
	AB15 6AQ


Registered Number	SC540522 (Scotland)

ESTATE JOINERY LTD

Balance Sheet as at
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	5		116,608		133,441
			116,608		133,441
Current assets
Stocks	6	3,890		3,890
Debtors	7	5,528		34,043
Cash at bank and on hand		2,327		32,569
		11,745		70,502
Creditors amounts falling due within one year	8	(13,849)		(21,173)
Net current assets (liabilities)			(2,104)		49,329
Total assets less current liabilities			114,504		182,770
Creditors amounts falling due after one year	9		(47,891)		(57,057)
Net assets			66,613		125,713
Capital and reserves
Called up share capital			100		100
Profit and loss account			66,513		125,613
Shareholders' funds			66,613		125,713

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 15 December 2023, and are signed on its behalf by:

BALAMS, Armands
Director
Registered Company No. SC540522

ESTATE JOINERY LTD

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15
	Vehicles	25
	Office Equipment	33

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	Employee information


		2023		2022
	Average number of employees during the year	5		9

5.	Property, plant and equipment

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 22	140,308	32,932	3,528	176,768
Additions	1,875	-	-	1,875
At 31 March 23	142,183	32,932	3,528	178,643
Depreciation and impairment
At 01 April 22	29,528	12,095	1,704	43,327
Charge for year	12,897	5,209	602	18,708
At 31 March 23	42,425	17,304	2,306	62,035
Net book value
At 31 March 23	99,758	15,628	1,222	116,608
At 31 March 22	110,780	20,837	1,824	133,441

6.	Stocks

	2023	2022
	£	£
Raw materials and consumables	3,890	3,890
Total	3,890	3,890

7.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	-	3,516
Other debtors	5,528	30,527
Total	5,528	34,043


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

8.	Creditors within one year

	2023	2022
	£	£
Bank borrowings and overdrafts	8,000	8,000
Finance lease and HP contracts	3,200	3,200
Other creditors	2,649	7,376
Accrued liabilities and deferred income	-	2,597
Total	13,849	21,173


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

9.	Creditors after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	19,391	26,667
Amounts owed to related parties	21,300	20,000
Other creditors	7,200	10,390
Total	47,891	57,057

10.	Finance lease and HP contracts after one year

		2023		2022
		£		£
	Finance lease and HP contracts	7,200		10,390