Company registration number 08873620 (England and Wales)
STB CARPENTRY AND MAINTENANCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
PAGES FOR FILING WITH REGISTRAR
STB CARPENTRY AND MAINTENANCE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
STB CARPENTRY AND MAINTENANCE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2022
28 February 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,266
6,719
Current assets
Debtors
4
86,564
86,866
Cash at bank and in hand
20,909
34,575
107,473
121,441
Creditors: amounts falling due within one year
5
(25,600)
(21,235)
Net current assets
81,873
100,206
Total assets less current liabilities
89,139
106,925
Creditors: amounts falling due after more than one year
6
(15,333)
(19,730)
Net assets
73,806
87,195
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
73,706
87,095
Total equity
73,806
87,195

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

STB CARPENTRY AND MAINTENANCE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2022
28 February 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 September 2022 and are signed on its behalf by:
Mr S T Burwood
Director
Company Registration No. 08873620
STB CARPENTRY AND MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
- 3 -
1
Accounting policies
Company information

STB Carpentry and Maintenance Limited is a private company limited by shares incorporated in England and Wales. The registered office is Michael House, Castle Street, Exeter, Devon, EX4 3LQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% per annum on cost
Computer equipment
33% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Equity instruments

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.5
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred.

STB CARPENTRY AND MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 1 (2021 -2)

3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 March 2021
12,801
Additions
2,593
At 28 February 2022
15,394
Depreciation and impairment
At 1 March 2021
6,082
Depreciation charged in the year
2,046
At 28 February 2022
8,128
Carrying amount
At 28 February 2022
7,266
At 28 February 2021
6,719
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
86,564
86,866
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
4,600
3,270
Trade creditors
-
0
3,770
Taxation and social security
12,644
13,942
Other creditors
8,356
253
25,600
21,235

The bank loan balance represents the current portion of the company's Bounce Back Loan which is backed by a government guarantee of 100%.

STB CARPENTRY AND MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
- 5 -
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
15,333
19,730

The bank loan balance represents the non-current portion of the company's Bounce Back Loan which is backed by a government guarantee of 100%.

Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
-
1,219
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
-
0
14,339
8
Directors' transactions

Advances or credits have been granted by the company to its director as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
One director
2.02
69,057
69,652
938
(70,754)
68,893
69,057
69,652
938
(70,754)
68,893

The loan to the director was unsecured and repayable on demand.

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