01 August 2017 31 July 2018 No principle activity is included 03665759 2017-08-01 03665759 2018-07-31 03665759 2017-08-01 2018-07-31 03665759 2017-07-31 03665759 2016-08-01 2017-07-31 03665759 uk-core:WithinOneYear 2018-07-31 03665759 uk-core:WithinOneYear 2017-07-31 03665759 uk-core:AfterOneYear 2018-07-31 03665759 uk-core:AfterOneYear 2017-07-31 03665759 uk-core:ShareCapital 2018-07-31 03665759 uk-core:ShareCapital 2017-07-31 03665759 uk-core:RetainedEarningsAccumulatedLosses 2018-07-31 03665759 uk-core:RetainedEarningsAccumulatedLosses 2017-07-31 03665759 uk-bus:Director1 2017-08-01 2018-07-31 03665759 uk-curr:PoundSterling 2017-08-01 2018-07-31 03665759 uk-core:PlantMachinery 2017-08-01 2018-07-31 03665759 uk-core:Vehicles 2017-08-01 2018-07-31 03665759 uk-core:FurnitureFittings 2017-08-01 2018-07-31 03665759 uk-core:OfficeEquipment 2017-08-01 2018-07-31 03665759 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2017-07-31 03665759 uk-core:VehiclesPlantMachinery 2017-07-31 03665759 uk-core:FurnitureFittingsToolsEquipment 2017-07-31 03665759 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2017-08-01 2018-07-31 03665759 uk-core:VehiclesPlantMachinery 2017-08-01 2018-07-31 03665759 uk-core:FurnitureFittingsToolsEquipment 2017-08-01 2018-07-31 03665759 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2018-07-31 03665759 uk-core:VehiclesPlantMachinery 2018-07-31 03665759 uk-core:FurnitureFittingsToolsEquipment 2018-07-31 03665759 uk-core:BetweenTwoFiveYears 2018-07-31 03665759 uk-core:BetweenTwoFiveYears 2017-07-31 03665759 uk-bus:FRS102 2017-08-01 2018-07-31 03665759 uk-bus:FullAccounts 2017-08-01 2018-07-31 03665759 uk-bus:AuditExempt-NoAccountantsReport 2017-08-01 2018-07-31 03665759 uk-bus:PrivateLimitedCompanyLtd 2017-08-01 2018-07-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  VALLEY JOINERY LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 JULY 2018
   
   
   
   
   
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  VALLEY JOINERY LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JULY 2018
       
       
  DIRECTORS
       
  Mr S W Haskins
  Mr W Graham
       
       
  SECRETARY
       
  Mr S W Haskins
       
  REGISTERED OFFICE
       
  25 Park Street West
Luton,
Beds. LU1 3BE.
       
       
  COMPANY REGISTERED NUMBER
       
  03665759
       
       
  BANKERS
       
  Handelsbanken
       
       
  ACCOUNTANTS
       
  Haartwells Limited
  Chartered Certified Accountants
  25 Park Street West,
Luton,
Beds.LU1 3BE.
       
  page 1
  VALLEY JOINERY LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JULY 2018
       
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  VALLEY JOINERY LIMITED
  Company registered number: 03665759
  STATEMENT OF FINANCIAL POSITION AT 31 July 2018
           
    Note 2018 2017
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 324,697 346,110
  CURRENT ASSETS    
  Inventories   16,686 20,284
  Debtors 4 163,858 395,889
  Cash at bank and in hand   131,675 178,536
      312,219 594,709
  CREDITORS: Amounts falling due within one year 5 82,289 210,845
  NET CURRENT ASSETS   229,930 383,864
  TOTAL ASSETS LESS CURRENT LIABILITIES   554,627 729,974
           
  CREDITORS: Amounts falling due after more than one year 6 (84,000) (95,216)
           
  PROVISIONS FOR LIABILITIES   (23,730) (26,661)
  NET ASSETS   £446,897 £608,097
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   446,797 607,997
  SHAREHOLDERS' FUNDS   £446,897 £608,097
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  VALLEY JOINERY LIMITED
  Company registered number: 03665759
  STATEMENT OF FINANCIAL POSITION AT 31 July 2018 (CONT.)
           
    Note 2018 2017
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 02 November 2018
 
  Signed on behalf of the board of directors
 
 
       
  Mr S W Haskins, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  VALLEY JOINERY LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 JULY 2018
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Valley Joinery Limited is a Private Limited Company incorporated in England and Wales..
         
  The company's registered number and registered office address can be found on the Company Information page.
         
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 August 2017.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
  Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
 
         
 
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  VALLEY JOINERY LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2018
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
       
1e. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Freehold buildings Reducing balance 2%  
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1h. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1i. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1j. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  VALLEY JOINERY LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2018
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2018 2017
    No. No.
  Management and administration 3 3
  Production and sales 14 14
    17 17
   
           
3. PROPERTY, PLANT AND EQUIPMENT
      Plant & Fixtures &  
    Freehold Machinery Equipment Total
    £ £ £ £
  Cost
           
  At 1 August 2017 302,148 303,955 899 607,002
  Additions other than through business combinations - 6,050 - 6,050
           
  At 31 July 2018 302,148 310,005 899 613,052
   
  Depreciation
           
  At 1 August 2017 96,313 164,066 513 260,892
  For the year 6,043 21,151 269 27,463
  At 31 July 2018 102,356 185,217 782 288,355
   
  Net Book Amounts
           
  At 31 July 2018 £199,792 £124,788 £117 £324,697
  At 31 July 2017 £205,835 £139,889 £386 £346,110
   
       
       
4. DEBTORS 2018 2017
    £ £
  Trade debtors 141,157 389,136
  Amounts owed by group company - 2,912
  UK Corporation tax 18,627 -
  Other debtors 4,074 3,841
    £163,858 £395,889
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  VALLEY JOINERY LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2018
       
       
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2018 2017
    £ £
  Bank loans and overdrafts 10,500 10,500
  Finance leases and hire purchase contracts 716 2,862
  Trade creditors 21,410 79,387
  Corporation tax - 51,834
  Other taxes and social security 39,811 57,287
  Other creditors 1 -
  Accruals and deferred income 9,851 8,975
    £82,289 £210,845
   
       
       
       
6. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2018 2017
    £ £
  Bank loans and overdrafts 84,000 94,500
  Finance leases and hire purchase contracts - 716
    £84,000 £95,216
   
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 10,500 10,500
  leases 716 2,862
  within 2-5 years
  bank 84,000 94,500
  leases - 716
    £95,216 £108,578
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8