Registered number
09471496
Wood Hutch Joinery Limited
Unaudited Filleted Accounts
For the Year Ended
31 March 2022
Wood Hutch Joinery Limited
Registered number: 09471496
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 36,145 20,162
Current assets
Stocks 1,200 1,800
Debtors 4 6,103 2,604
Cash at bank and in hand 81,741 69,185
89,044 73,589
Creditors: amounts falling due within one year 5 (76,184) (59,567)
Net current assets 12,860 14,022
Total assets less current liabilities 49,005 34,184
Creditors: amounts falling due after more than one year 6 (27,647) (16,838)
Provisions for liabilities (6,868) (3,831)
Net assets 14,490 13,515
Capital and reserves
Called up share capital 2 2
Profit and loss account 14,488 13,513
Shareholders' funds 14,490 13,515
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Martin
Director
Approved by the board on 12 August 2022
Wood Hutch Joinery Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2021 14,108 20,445 34,553
Additions 1,468 34,287 35,755
Disposals - (12,995) (12,995)
At 31 March 2022 15,576 41,737 57,313
Depreciation
At 1 April 2021 5,460 8,931 14,391
Charge for the year 1,012 9,014 10,026
On disposals - (3,249) (3,249)
At 31 March 2022 6,472 14,696 21,168
Net book value
At 31 March 2022 9,104 27,041 36,145
At 31 March 2021 8,648 11,514 20,162
4 Debtors 2022 2021
£ £
Trade debtors 5,171 2,159
Other debtors 932 445
6,103 2,604
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts - 3,162
Obligations under finance lease and hire purchase contracts 6,420 -
Trade creditors 3,853 4,937
Corporation tax 4,293 4,900
Other taxes and social security costs 11,119 5,912
Other creditors 50,499 40,656
76,184 59,567
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans - 16,838
Obligations under finance lease and hire purchase contracts 27,647 -
27,647 16,838
7 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years - 708
8 Other information
Wood Hutch Joinery Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Burrow Rural Workshop
Woodman Lane
Burrow
Carnforth
LA6 2RL
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