REGISTERED NUMBER: 02820991 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Firwood Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A S Yeomans

SECRETARY:

C Tansey

REGISTERED OFFICE:

Unit 5

Great Honeyborough Industrial Estate

Neyland

Milford Haven

Pembrokeshire

SA73 1SE

REGISTERED NUMBER:

02820991 (England and Wales)

BANKERS:

Barclays Bank Plc

32 High Street

Haverfordwest

Pembrokeshire

SA61 2DA

SOLICITORS:

JCP Solicitors

Oak Corner

Merlins Court

Winch Lane

Haverfordwest

Pembrokeshire

FIXED ASSETS

Tangible assets

4

4,721

7,482

CURRENT ASSETS

Stocks

5

50,303

146,827

Debtors

6

188,694

159,154

Cash at bank

142,304

248,949

381,301

554,930

CREDITORS

Amounts falling due within one year

7

169,467

162,978

NET CURRENT ASSETS

211,834

391,952

TOTAL ASSETS LESS CURRENT LIABILITIES

216,555

399,434

PROVISIONS FOR LIABILITIES

-

783

NET ASSETS

216,555

398,651

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

196,555

378,651

SHAREHOLDERS' FUNDS

216,555

398,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 21 September 2023 and were signed by:

J A S Yeomans - Director

1.	STATUTORY INFORMATION

Firwood Homes 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over the term of the lease

Plant and machinery

-

Straight line over 10 years

Fixtures and fittings

-

Straight line over 7 years

Motor vehicles

-

Straight line over 5 years and Straight line over 10 years

Stocks

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

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

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits

The company makes regular contributions to the personal pension scheme of certain employees of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2022

90,454

263,938

25,320

75,302

455,014

Additions

763

-

-

-

763

Disposals

-

-

-

(16,450

)

(16,450

)

At 31 March 2023

91,217

263,938

25,320

58,852

439,327

DEPRECIATION

At 1 April 2022

89,714

261,903

24,495

71,420

447,532

Charge for year

85

369

330

2,740

3,524

Eliminated on disposal

-

-

-

(16,450

)

(16,450

)

At 31 March 2023

89,799

262,272

24,825

57,710

434,606

NET BOOK VALUE

At 31 March 2023

1,418

1,666

495

1,142

4,721

At 31 March 2022

740

2,035

825

3,882

7,482

5.

STOCKS

31.3.23

31.3.22

£

£

Stocks

50,303

146,827

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

173,377

141,094

Other debtors

15,317

18,060

188,694

159,154

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

85,871

98,442

Tax

27,167

1,640

Social security and other taxes

19,834

15,175

Other creditors

36,595

47,721

169,467

162,978

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Manderwood Investments Ltd.

Firwood Homes Ltd is a wholly owned subsidiary of Manderwood Investments Ltd whose registered office and principal place of business is Unit 4, Great Honeyborough Industrial Estate, Neyland, Milford Haven, Pembrokeshire.