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REGISTERED NUMBER: 07175680 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Hailes Abbey Joinery Limited

Hailes Abbey Joinery Limited (Registered number: 07175680)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hailes Abbey Joinery Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: M A Izzard





SECRETARY: Mrs S Izzard





REGISTERED OFFICE: Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST





REGISTERED NUMBER: 07175680 (England and Wales)





ACCOUNTANTS: Bennett Stock Limited
Suite 1, LIberty House
South Liberty Lane
Bristol
BS3 2ST

Hailes Abbey Joinery Limited (Registered number: 07175680)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,135 125,738

CURRENT ASSETS
Stocks 575 575
Debtors 5 3,890 45,080
Cash at bank 116,605 51,974
121,070 97,629
CREDITORS
Amounts falling due within one year 6 47,899 30,728
NET CURRENT ASSETS 73,171 66,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,306

192,639

CREDITORS
Amounts falling due after more than one
year

7

(28,750

)

(36,250

)

PROVISIONS FOR LIABILITIES (22,691 ) (23,726 )
NET ASSETS 141,865 132,663

Hailes Abbey Joinery Limited (Registered number: 07175680)

Statement of Financial Position - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 141,765 132,563
SHAREHOLDERS' FUNDS 141,865 132,663

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 5 November 2023 and were signed by:





M A Izzard - Director


Hailes Abbey Joinery Limited (Registered number: 07175680)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Hailes Abbey Joinery 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 represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 statement of financial position date.


Hailes Abbey Joinery Limited (Registered number: 07175680)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

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.

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 3 (2022 - 4 ) .

Hailes Abbey Joinery Limited (Registered number: 07175680)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 214,773 44,359 966 260,098
Additions 34,442 - - 34,442
At 31 March 2023 249,215 44,359 966 294,540
DEPRECIATION
At 1 April 2022 96,712 37,089 559 134,360
Charge for year 38,125 1,818 102 40,045
At 31 March 2023 134,837 38,907 661 174,405
NET BOOK VALUE
At 31 March 2023 114,378 5,452 305 120,135
At 31 March 2022 118,061 7,270 407 125,738

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 20,565
Other debtors 3,890 24,515
3,890 45,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 7,500 7,500
Trade creditors 8,679 15,782
Taxation and social security 30,452 5,806
Other creditors 1,268 1,640
47,899 30,728

Hailes Abbey Joinery Limited (Registered number: 07175680)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 28,750 36,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 6,250

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr M Izzard
Director20232022

Dividends97,12026,800

Rent charged for business premises7,2007,200

Capital introduced/(withdrawn)(374)124

At the year end, the company owed the director £8 (2022 - £382).

9. ULTIMATE CONTROLLING PARTY

The controlling party is M A Izzard.