Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31false2022-01-28No description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13877993 2022-01-27 13877993 2022-01-28 2023-01-31 13877993 2021-02-01 2022-01-27 13877993 2023-01-31 13877993 c:Director3 2022-01-28 2023-01-31 13877993 d:PlantMachinery 2022-01-28 2023-01-31 13877993 d:PlantMachinery 2023-01-31 13877993 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-28 2023-01-31 13877993 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-01-28 2023-01-31 13877993 d:OtherPropertyPlantEquipment 2022-01-28 2023-01-31 13877993 d:OtherPropertyPlantEquipment 2023-01-31 13877993 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-01-28 2023-01-31 13877993 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-01-28 2023-01-31 13877993 d:OwnedOrFreeholdAssets 2022-01-28 2023-01-31 13877993 d:LeasedAssetsHeldAsLessee 2022-01-28 2023-01-31 13877993 d:CurrentFinancialInstruments 2023-01-31 13877993 d:Non-currentFinancialInstruments 2023-01-31 13877993 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13877993 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 13877993 d:ShareCapital 2023-01-31 13877993 d:RetainedEarningsAccumulatedLosses 2022-01-28 2023-01-31 13877993 d:RetainedEarningsAccumulatedLosses 2023-01-31 13877993 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 13877993 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 13877993 c:OrdinaryShareClass1 2022-01-28 2023-01-31 13877993 c:OrdinaryShareClass1 2023-01-31 13877993 c:FRS102 2022-01-28 2023-01-31 13877993 c:AuditExempt-NoAccountantsReport 2022-01-28 2023-01-31 13877993 c:FullAccounts 2022-01-28 2023-01-31 13877993 c:PrivateLimitedCompanyLtd 2022-01-28 2023-01-31 13877993 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 13877993 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 13877993 2 2022-01-28 2023-01-31 13877993 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-31 13877993 d:LeasedAssetsHeldAsLessee 2023-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13877993










THE SHROPSHIRE JOINERY COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2023

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
REGISTERED NUMBER:13877993

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
Note
£

Fixed assets
  

Tangible assets
 5 
47,780

  
47,780

Current assets
  

Stocks
  
15,970

Debtors: amounts falling due within one year
 7 
15,191

Cash at bank and in hand
  
12,485

  
43,646

Creditors: amounts falling due within one year
 9 
(49,295)

Net current (liabilities)/assets
  
 
 
(5,649)

Total assets less current liabilities
  
42,131

Creditors: amounts falling due after more than one year
  
(32,458)

Provisions for liabilities
  

Deferred tax
 12 
(8,158)

  
 
 
(8,158)

Net assets
  
1,515


Capital and reserves
  

Called up share capital 
 13 
100

Profit and loss account
 14 
1,415

  
1,515


Page 1

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
REGISTERED NUMBER:13877993
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.




Robert Embrey
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

1.


General information

The Shropshire Joinery Company Limited, 13877993, is a private company, limited by shares, incorporated in England and Wales, with its registered office at Grange Farm, Montford Bridge, Shrewsbury, Shropshire, SY16 3AJ. 
The principal activity of the Company is the manufacturing of wood products.
The company was incorporated on 28 January 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

These accounts have been prepared on a going concern basis, and assumes the continued support of the directors. 

Page 3

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Property improvements
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.14

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the period was 4.

Page 7

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

5.


Tangible fixed assets





Plant and machinery
Property improvements
Total

£
£
£



Cost or valuation


Additions
53,509
568
54,077



At 31 January 2023

53,509
568
54,077



Depreciation


Charge for the period on owned assets
104
68
172


Charge for the period on financed assets
6,125
-
6,125



At 31 January 2023

6,229
68
6,297



Net book value



At 31 January 2023
47,280
500
47,780

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
£



Plant and machinery
46,375

46,375


6.


Stocks

2023
£

Raw materials and consumables
15,970

15,970


Page 8

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

7.


Debtors

2023
£


Trade debtors
15,146

Other debtors
45

15,191



8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
12,485

12,485



9.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
252

Other taxation and social security
3,668

Obligations under finance lease and hire purchase contracts
9,500

Other creditors
33,592

Accruals and deferred income
2,283

49,295


The following liabilities were secured:

2023
£



Obligations under finance lease and hire purchase contracts
9,500

9,500

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.

Page 9

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

10.


Creditors: Amounts falling due after more than one year

2023
£

Net obligations under finance leases and hire purchase contracts
32,458

32,458


The following liabilities were secured:

2023
£



Net obligations under finance leases and hire purchase contracts
32,458

32,458

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
£


Within one year
9,500

Between 1-5 years
32,458

41,958


12.


Deferred taxation



2023


£






Charged to profit or loss
8,158



At end of year
8,158

Page 10

 
THE SHROPSHIRE JOINERY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
 
12.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
11,874

Tax losses carried forward
(3,716)

8,158


13.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On incorporation, 100 Ordinary shares were issued as par.


14.


Reserves

Profit and loss account

The Profit and Loss account consists of the accumulated profits of the Company, less all distributions made to the shareholders.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £455. Contributions totalling £67 were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11