IRIS Accounts Production v23.2.0.158 04670062 Board of Directors Board of Directors 1.3.22 28.2.23 28.2.23 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 Ordinary E 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure046700622022-02-28046700622023-02-28046700622022-03-012023-02-28046700622021-02-28046700622021-03-012022-02-28046700622022-02-2804670062ns16:EnglandWales2022-03-012023-02-2804670062ns15:PoundSterling2022-03-012023-02-2804670062ns11:Director12022-03-012023-02-2804670062ns11:Director22022-03-012023-02-2804670062ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2804670062ns11:SmallEntities2022-03-012023-02-2804670062ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2804670062ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2804670062ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2804670062ns11:FullAccounts2022-03-012023-02-280467006212022-03-012023-02-2804670062ns11:OrdinaryShareClass12022-03-012023-02-2804670062ns11:OrdinaryShareClass22022-03-012023-02-2804670062ns11:OrdinaryShareClass32022-03-012023-02-2804670062ns11:OrdinaryShareClass42022-03-012023-02-2804670062ns11:OrdinaryShareClass52022-03-012023-02-2804670062ns11:Director32022-03-012023-02-2804670062ns11:CompanySecretary12022-03-012023-02-2804670062ns11:RegisteredOffice2022-03-012023-02-2804670062ns6:CurrentFinancialInstruments2022-02-2804670062ns6:CurrentFinancialInstruments2023-02-2804670062ns6:Non-currentFinancialInstruments2022-02-2804670062ns6:Non-currentFinancialInstruments2023-02-2804670062ns6:ShareCapital2022-02-2804670062ns6:ShareCapital2023-02-2804670062ns6:RetainedEarningsAccumulatedLosses2022-02-2804670062ns6:RetainedEarningsAccumulatedLosses2023-02-2804670062ns6:NetGoodwill2022-03-012023-02-2804670062ns6:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2804670062ns6:PlantMachinery2022-03-012023-02-2804670062ns6:NetGoodwill2022-02-2804670062ns6:NetGoodwill2023-02-2804670062ns6:NetGoodwill2022-02-2804670062ns6:PlantMachinery2022-02-2804670062ns6:PlantMachinery2023-02-2804670062ns6:PlantMachinery2022-02-2804670062ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-02-2804670062ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-012023-02-2804670062ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-02-2804670062ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-02-2804670062ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2804670062ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2804670062ns11:OrdinaryShareClass12023-02-2804670062ns11:OrdinaryShareClass22023-02-2804670062ns11:OrdinaryShareClass32023-02-2804670062ns11:OrdinaryShareClass42023-02-2804670062ns11:OrdinaryShareClass52023-02-28
REGISTERED NUMBER: 04670062 (England and Wales)










Unaudited Financial Statements for the Year Ended 28 February 2023

for

Roy Terry Fireplaces Limited

Roy Terry Fireplaces Limited (Registered number: 04670062)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Roy Terry Fireplaces Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: R Terry
L Terry
Miss J Terry





SECRETARY: Miss J Terry





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 04670062 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Roy Terry Fireplaces Limited (Registered number: 04670062)

Balance Sheet
28 February 2023

28.2.22 28.2.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
17,143 Tangible assets 5 12,858
17,143 12,858

CURRENT ASSETS
10,690 Stocks 12,550
2,275 Debtors 6 2,025
115,407 Cash at bank 62,761
128,372 77,336
CREDITORS
64,641 Amounts falling due within one year 7 51,891
63,731 NET CURRENT ASSETS 25,445
80,874 TOTAL ASSETS LESS CURRENT
LIABILITIES

38,303

CREDITORS
(31,593 ) Amounts falling due after more than one
year

8

(22,323

)

(3,257 ) PROVISIONS FOR LIABILITIES (2,443 )
46,024 NET ASSETS 13,537

CAPITAL AND RESERVES
105 Called up share capital 9 105
45,919 Retained earnings 13,432
46,024 SHAREHOLDERS' FUNDS 13,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Roy Terry Fireplaces Limited (Registered number: 04670062)

Balance Sheet - continued
28 February 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by:




R Terry - Director



L Terry - Director


Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Roy Terry Fireplaces 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being amortised evenly over its estimated life of twenty years.
In accordance with FRS 102 as there was deemed to be no finite life this was amended to be amortised over 5 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 etc - 25% on reducing balance

Government grants
Government grants are accounted for on an accruals basis.

Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

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

Financial instruments
The Company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 55,000
AMORTISATION
At 1 March 2022
and 28 February 2023 55,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 32,011
DEPRECIATION
At 1 March 2022 14,868
Charge for year 4,285
At 28 February 2023 19,153
NET BOOK VALUE
At 28 February 2023 12,858
At 28 February 2022 17,143

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

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 16,786
DEPRECIATION
At 1 March 2022 7,343
Charge for year 2,361
At 28 February 2023 9,704
NET BOOK VALUE
At 28 February 2023 7,082
At 28 February 2022 9,443

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 291 615
Other debtors 1,734 1,660
2,025 2,275

Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 5,885 5,740
Hire purchase contracts 3,385 3,385
Trade creditors 25,689 17,542
Taxation and social security 8,550 23,560
Other creditors 8,382 14,414
51,891 64,641

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 16,963 22,847
Hire purchase contracts 5,360 8,746
22,323 31,593

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
1 Ordinary F £1 1 1
105 105