Banbury Carpentry Limited 09116589 false 2022-10-01 2023-06-30 2023-06-30 The principal activity of the company is carpentry Digita Accounts Production Advanced 6.30.9574.0 true true 09116589 2022-10-01 2023-06-30 09116589 2023-06-30 09116589 core:CurrentFinancialInstruments 2023-06-30 09116589 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09116589 core:Goodwill 2023-06-30 09116589 core:MotorVehicles 2023-06-30 09116589 core:OtherPropertyPlantEquipment 2023-06-30 09116589 bus:SmallEntities 2022-10-01 2023-06-30 09116589 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-06-30 09116589 bus:FullAccounts 2022-10-01 2023-06-30 09116589 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-06-30 09116589 bus:RegisteredOffice 2022-10-01 2023-06-30 09116589 bus:Director1 2022-10-01 2023-06-30 09116589 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-06-30 09116589 bus:Agent1 2022-10-01 2023-06-30 09116589 core:Goodwill 2022-10-01 2023-06-30 09116589 core:MotorVehicles 2022-10-01 2023-06-30 09116589 core:OtherPropertyPlantEquipment 2022-10-01 2023-06-30 09116589 countries:England 2022-10-01 2023-06-30 09116589 2022-09-30 09116589 core:Goodwill 2022-09-30 09116589 core:MotorVehicles 2022-09-30 09116589 core:OtherPropertyPlantEquipment 2022-09-30 09116589 2021-10-01 2022-09-30 09116589 2022-09-30 09116589 core:CurrentFinancialInstruments 2022-09-30 09116589 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 09116589 core:MotorVehicles 2022-09-30 09116589 core:OtherPropertyPlantEquipment 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 09116589

Banbury Carpentry Limited

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 30 June 2023

 

Banbury Carpentry Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Banbury Carpentry Limited

Company Information

Director

Mr Jason Fuller

Registered office

4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

Accountants

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Banbury Carpentry Limited
for the Period Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Banbury Carpentry Limited for the period ended 30 June 2023 as set out on pages 3 to 8 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Banbury Carpentry Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Banbury Carpentry Limited. You consider that Banbury Carpentry Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Banbury Carpentry 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 accounts.

......................................

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

18 October 2023

 

Banbury Carpentry Limited

(Registration number: 09116589)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

765

Current assets

 

Stocks

6

-

200

Debtors

7

-

905

Cash at bank and in hand

 

1,425

1,167

 

1,425

2,272

Creditors: Amounts falling due within one year

8

(11,706)

(16,132)

Net current liabilities

 

(10,281)

(13,860)

Net liabilities

 

(10,281)

(13,095)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(10,381)

(13,195)

Shareholders' deficit

 

(10,281)

(13,095)

For the financial period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 October 2023
 

.........................................
Mr Jason Fuller
Director

 

Banbury Carpentry Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Banbury Carpentry Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Banbury Carpentry Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 30 June 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Banbury Carpentry Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

10,000

10,000

Disposals

(10,000)

(10,000)

At 30 June 2023

-

-

Amortisation

At 1 October 2022

10,000

10,000

Amortisation eliminated on disposals

(10,000)

(10,000)

At 30 June 2023

-

-

Carrying amount

At 30 June 2023

-

-

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

1,487

2,210

3,697

Disposals

(1,487)

(2,210)

(3,697)

At 30 June 2023

-

-

-

Depreciation

At 1 October 2022

1,338

1,594

2,932

Eliminated on disposal

(1,338)

(1,594)

(2,932)

At 30 June 2023

-

-

-

Carrying amount

At 30 June 2023

-

-

-

At 30 September 2022

149

616

765

6

Stocks

2023
£

2022
£

Other inventories

-

200

 

Banbury Carpentry Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 30 June 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

205

Other debtors

-

700

 

-

905

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

171

632

Accruals and deferred income

2,859

8,445

Other creditors

8,676

7,055

11,706

16,132