Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2021-01-01false1313truetrue SC187082 2021-01-01 2021-12-31 SC187082 2021-12-31 SC187082 2020-01-01 2020-12-31 SC187082 2020-12-31 SC187082 2020-01-01 SC187082 c:Director1 2021-01-01 2021-12-31 SC187082 d:PlantMachinery 2021-01-01 2021-12-31 SC187082 d:PlantMachinery 2021-12-31 SC187082 d:PlantMachinery 2020-12-31 SC187082 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC187082 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 SC187082 d:MotorVehicles 2021-01-01 2021-12-31 SC187082 d:MotorVehicles 2021-12-31 SC187082 d:MotorVehicles 2020-12-31 SC187082 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC187082 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 SC187082 d:FurnitureFittings 2021-01-01 2021-12-31 SC187082 d:FurnitureFittings 2021-12-31 SC187082 d:FurnitureFittings 2020-12-31 SC187082 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC187082 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 SC187082 d:OfficeEquipment 2021-01-01 2021-12-31 SC187082 d:OfficeEquipment 2021-12-31 SC187082 d:OfficeEquipment 2020-12-31 SC187082 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC187082 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 SC187082 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC187082 d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 SC187082 d:CurrentFinancialInstruments 2021-12-31 SC187082 d:CurrentFinancialInstruments 2020-12-31 SC187082 d:Non-currentFinancialInstruments 2021-12-31 SC187082 d:Non-currentFinancialInstruments 2020-12-31 SC187082 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 SC187082 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 SC187082 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 SC187082 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 SC187082 d:ShareCapital 2021-12-31 SC187082 d:ShareCapital 2020-12-31 SC187082 d:RetainedEarningsAccumulatedLosses 2021-12-31 SC187082 d:RetainedEarningsAccumulatedLosses 2020-12-31 SC187082 c:OrdinaryShareClass1 2021-01-01 2021-12-31 SC187082 c:OrdinaryShareClass1 2021-12-31 SC187082 c:OrdinaryShareClass1 2020-12-31 SC187082 c:FRS102 2021-01-01 2021-12-31 SC187082 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 SC187082 c:FullAccounts 2021-01-01 2021-12-31 SC187082 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 SC187082 2 2021-01-01 2021-12-31 SC187082 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 SC187082 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number SC187082























CUSTOMBUILT JOINERY LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 31 DECEMBER 2021























img0d03.png

 
CUSTOMBUILT JOINERY LIMITED
REGISTERED NUMBER:SC187082

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,456
18,987

  
13,456
18,987

Current assets
  

Stocks
  
55,840
53,293

Debtors: amounts falling due within one year
 5 
83,130
72,096

Cash at bank and in hand
  
62,581
85,822

  
201,551
211,211

Creditors: amounts falling due within one year
 6 
(130,896)
(140,922)

Net current assets
  
 
 
70,655
 
 
70,289

Total assets less current liabilities
  
84,111
89,276

Creditors: amounts falling due after more than one year
 7 
(2,064)
(6,191)

Provisions for liabilities
  

Deferred tax
 8 
(2,862)
(3,372)

  
 
 
(2,862)
 
 
(3,372)

Net assets
  
79,185
79,713

Page 1

 
CUSTOMBUILT JOINERY LIMITED
REGISTERED NUMBER:SC187082

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Capital and reserves
  

Called up share capital 
 9 
66,500
66,500

Profit and loss account
  
12,685
13,213

  
79,185
79,713


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Alister Eric Milne
Director
Date: 2 August 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CUSTOMBUILT JOINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Custombuilt Joinery Limited is a private company, limited by shares, registered in Scotland. The Company's registered number is SC187082. The Company's registered office and principal place of business is Unit 18, 211 Cambuslang Road, Cambuslang, Glasgow, G72 7TS. 

These financial statements are presented in Pounds Sterling as this is the currency of the primary economic environment in which the company operates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the impact of the COVID-19 virus when preparing these financial statements. The likely impact that this will have in the coming year has been assessed and this has been incorporated into the plans for the business. As a result of this, the directors have concluded that it continues to be appropriate to present the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
CUSTOMBUILT JOINERY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CUSTOMBUILT JOINERY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
on reducing balance
Motor vehicles
-
on 3/4 year straight line
Fixtures and fittings
-
15%
on reducing balance
Office equipment
-
25%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CUSTOMBUILT JOINERY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.15

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2020 - 13).

Page 6

 
CUSTOMBUILT JOINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
77,362
30,710
2,710
10,679
121,461



At 31 December 2021

77,362
30,710
2,710
10,679
121,461



Depreciation


At 1 January 2021
70,007
20,391
2,446
9,629
102,473


Charge for the year on owned assets
1,103
-
40
262
1,405


Charge for the year on financed assets
-
4,127
-
-
4,127



At 31 December 2021

71,110
24,518
2,486
9,891
108,005



Net book value



At 31 December 2021
6,252
6,192
224
788
13,456



At 31 December 2020
7,355
10,319
264
1,050
18,988


5.


Debtors

2021
2020
£
£


Trade debtors
25,000
14,596

Amounts owed by group undertakings
42,950
41,744

Other debtors
6,834
2,643

Prepayments and accrued income
8,346
13,113

83,130
72,096


Page 7

 
CUSTOMBUILT JOINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Payments received on account
2,475
4,622

Trade creditors
45,240
42,623

Corporation tax
15,654
16,653

Other taxation and social security
56,979
67,261

Obligations under finance lease and hire purchase contracts
4,129
4,128

Other creditors
2,008
1,241

Accruals and deferred income
4,411
4,394

130,896
140,922



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Net obligations under finance leases and hire purchase contracts
2,064
6,191

2,064
6,191



8.


Deferred taxation




2021
2020


£

£






At beginning of year
(3,372)
(4,611)


Utilised in year
510
1,239



At end of year
(2,862)
(3,372)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(2,862)
(3,372)

(2,862)
(3,372)

Page 8

 
CUSTOMBUILT JOINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



66,500 (2020 - 66,500) Ordinary shares of £1.00 each
66,500
66,500



10.


Transactions with directors

As at 31 December 2020 a director owed the company £1,841. During the year the company made advances to him of £5,244 and received repayments from him of £2,080. As at 31 December 2021 the director owed the company £5,005.


11.


Related party transactions

Custombuilt Scotland Limited, the parent company, owed £42,950 (2020: £41,744) at the balance sheet date. 
Custombuilt Joinery Limited issued dividends of £60,000 to Custombuilt Scotland Limited.


12.


Controlling party

The ultimate controlling party at the balance sheet date is E C Milne by virtue of shares held in the parent company, Custombuilt Scotland Limited. 

.


Page 9