Registered number: 05084205 | ||||||||
FOR THE YEAR ENDED 31/03/2022 | ||||||||
Marthwaite Joinery Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2022 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 2 | |||||||
Notes To The Accounts | 3 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Marthwaite Joinery Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2022 | 2021 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
907,598 | 893,301 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 603,463 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 36,008 | 50,000 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Revaluation reserve | 1f,11 | - | (25,562) | |||||||
Profit and loss account | 848,071 | 777,249 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Marthwaite Joinery Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2022 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Commercial Vehicles | reducing balance 25% | |||||||
Equipment | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Investments | ||||||||
Fixed asset investments are shown at fair value. Revaluations in the year are taken to the profit and loss account. |
1f. Profit and Loss Reserve - Non Distributable | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 11). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
Marthwaite Joinery Limited | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||
Land And | Plant and | |||||
Buildings | Machinery Etc. | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/04/2021 | 143,858 | 295,009 | 438,867 | |||
Additions | - | 20,558 | 20,558 | |||
Disposals | - | (8,285) | (8,285) | |||
At 31/03/2022 | 143,858 | 307,282 | 451,140 | |||
Depreciation | ||||||
At 01/04/2021 | - | 223,075 | 223,075 | |||
Disposals | - | (7,490) | (7,490) | |||
For the year | - | 17,414 | 17,414 | |||
At 31/03/2022 | - | 232,999 | 232,999 | |||
Net Book Amounts | ||||||
At 31/03/2022 | 143,858 | 74,283 | 218,141 | |||
At 31/03/2021 | 143,858 | 71,934 | 215,792 | |||
3. FINANCIAL ASSETS | ||||||||
Cost | ||||||||
Amortisation | ||||||||
Net Book Amounts | ||||||||
Investments in listed companies have been restated to their fair value at the year end and any gains and losses have been recognised in the Non Distributable Profit and Loss Reserve. | ||||||||
The Director's have assessed the risk that any future fall in value of these investments would not have any material affect on the ongoing operation of the business. | ||||||||
4. STOCK | 2022 | 2021 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Work in progress | ||||||
Marthwaite Joinery Limited | ||||||||
5. DEBTORS | 2022 | 2021 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 110,368 | 202,521 | ||||||
Other debtors | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | 56,502 | 50,686 | ||||||
Taxation and social security | 104,560 | 122,211 | ||||||
Other creditors | 51,877 | 116,941 | ||||||
222,788 | 289,838 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | 36,008 | 50,000 | ||||||
36,008 | 50,000 | |||||||
8. EMPLOYEES | ||||||
2022 | 2021 | |||||
No. | No. | |||||
Average number of employees | 12 | |||||
Marthwaite Joinery Limited | ||||||||
9. PROVISIONS FOR LIABILITIES | 2022 | 2021 | ||||||
£ | £ | |||||||
Deferred taxation | 18,672 | 17,366 | ||||||
18,672 | 17,366 | |||||||
10. SHARE CAPITAL | 2022 | 2021 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
200 | 200 | |||||||
200 | 200 | |||||||
11. PROFIT AND LOSS RESERVE - NON DISTRIBUTABLE | 2022 | 2021 | ||||||
£ | £ | |||||||
Revaluation reserve | 25,562 | - | ||||||
AFS Reserve | (25,562) | (25,562) | ||||||
- | (25,562) | |||||||