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REGISTERED NUMBER: 07184147 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

THE OLD JOINERY COMPANY LIMITED

THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

THE OLD JOINERY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: M Choyce
S T Edwards





REGISTERED OFFICE: 6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX





REGISTERED NUMBER: 07184147 (England and Wales)





ACCOUNTANTS: Andorran Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,000 4,000
Tangible assets 5 43,809 58,412
46,809 62,412

CURRENT ASSETS
Stocks 8,196 32,756
Debtors 106,304 77,529
Cash at bank and in hand 9,254 15,656
123,754 125,941
CREDITORS
Amounts falling due within one year (129,155 ) (132,863 )
NET CURRENT LIABILITIES (5,401 ) (6,922 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,408

55,490

CREDITORS
Amounts falling due after more than one
year

(5,570

)

(13,817

)

PROVISIONS FOR LIABILITIES (8,324 ) (11,098 )
NET ASSETS 27,514 30,575

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 27,512 30,573
SHAREHOLDERS' FUNDS 27,514 30,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





M Choyce - Director


THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

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

1. STATUTORY INFORMATION

The Old Joinery Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is invoiced when a job is completed and recognised on an invoice basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021
and 31 December 2021 5,000
AMORTISATION
At 1 January 2021 1,000
Amortisation for year 1,000
At 31 December 2021 2,000
NET BOOK VALUE

At 31 December 2021 3,000
At 31 December 2020 4,000

THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021
and 31 December 2021 65,533
DEPRECIATION
At 1 January 2021 7,121
Charge for year 14,603
At 31 December 2021 21,724
NET BOOK VALUE
At 31 December 2021 43,809
At 31 December 2020 58,412

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2021
and 31 December 2021 10,636
DEPRECIATION
At 1 January 2021 2,659
Charge for year 1,994
At 31 December 2021 4,653
NET BOOK VALUE
At 31 December 2021 5,983
At 31 December 2020 7,977

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.21 31.12.20
£    £   
Net obligations repayable:
Within one year 8,231 12,348
Between one and five years 5,570 13,817
13,801 26,165

THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Hire purchase contracts 13,801 26,165

Hire purchase liabilities are secured on the assets to which individual agreement relate.

The company has granted a debenture over its assets in favour of the bank as part of the security over any indebtedness to the bank.

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
2 Ordinary £1 2 2

9. RELATED PARTY DISCLOSURES

EDCH Properties Limited

Ultimate and immediate parent company


In a previous period, EDCH Properties Limited advanced £38,632 to the company as working capital. The advance is interest-free, unsecured and repayable on demand.

During the period the company paid EDCH Properties Limited £22,000 for rent of premises on an arms length basis.

31.12.21 31.12.20
£    £   
Amount due to related party at the balance sheet date 39,932 -

Esance Limited

Company under common control


In a previous period Esance Limited advanced the company £3,237 for working capital. During the year a further £776 was advanced.The advance is interest-free, unsecured and repayable on demand.

31.12.21 31.12.20
£    £   
Amount due to related party at the balance sheet date 4,013 3,237

THE OLD JOINERY COMPANY LIMITED (REGISTERED NUMBER: 07184147)

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

9. RELATED PARTY DISCLOSURES - continued

M Choyce
Director and shareholder


In a previous period, Mr Choyce lent the company £8,360 as working capital. No terms of interest have been agreed and the debt is repayable on demand.

31.12.21 31.12.20
£    £   
Amount due to related party at the balance sheet date 8,360 8,360

S T Edwards
Director and shareholder


In a previous period, Mr Edwards lent the company £8,360 as working capital. No terms of interest have been agreed and the debt is repayable on demand.

31.12.21 31.12.20
£    £   
Amount due to related party at the balance sheet date 8,360 8,360

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE OLD JOINERY COMPANY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Old Joinery Company Limited for the year ended 31 December 2021 which comprise the Statement of Income and Retained Earnings, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Old Joinery Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Old Joinery Company Limited and state those matters that we have agreed to state to the Board of Directors of The Old Joinery Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Old Joinery Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Old Joinery Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Old Joinery Company Limited. You consider that The Old Joinery Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Old Joinery Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Andorran Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX


5 September 2022