Company registration number 11377593 (England and Wales)
DJ Woodworking Ltd
Unaudited
financial statements
for the year ended 31 May 2023
PAGES FOR FILING WITH REGISTRAR
DJ Woodworking Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
DJ Woodworking Ltd
Statement of financial position
as at 31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
39,822
44,193
Current assets
Stocks
13,150
15,250
Debtors
4
-
0
16,966
Cash at bank and in hand
6,093
14,024
19,243
46,240
Creditors: amounts falling due within one year
5
(36,378)
(64,493)
Net current liabilities
(17,135)
(18,253)
Total assets less current liabilities
22,687
25,940
Creditors: amounts falling due after more than one year
6
(15,165)
(23,438)
Provisions for liabilities
7
(7,159)
(2,095)
Net assets
363
407
Capital and reserves
Called up share capital
8
10
10
Profit and loss reserves
353
397
Total equity
363
407

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

DJ Woodworking Ltd
Statement of financial position (continued)
as at 31 May 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 November 2023
D J Pickles
Director
Company registration number 11377593 (England and Wales)
DJ Woodworking Ltd
Notes to the financial statements
for the year ended 31 May 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Turnover is recognised upon the provision of goods and services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Motor vehicles
25% reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DJ Woodworking Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2023
1
Accounting policies
(continued)
- 4 -
Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
1
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2022
27,222
28,490
55,712
Additions
5,825
-
0
5,825
At 31 May 2023
33,047
28,490
61,537
Depreciation and impairment
At 1 June 2022
9,145
2,374
11,519
Depreciation charged in the year
3,667
6,529
10,196
At 31 May 2023
12,812
8,903
21,715
Carrying amount
At 31 May 2023
20,235
19,587
39,822
At 31 May 2022
18,077
26,116
44,193
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
16,444
Prepayments and accrued income
-
0
522
-
0
16,966
DJ Woodworking Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Obligations under finance leases
8,272
8,272
Trade creditors
124
353
Taxation and social security
25,716
10,547
Other creditors
91
42,331
Accruals and deferred income
2,175
2,990
36,378
64,493

Obligations under finance leases are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Obligations under finance leases
15,165
23,438

Obligations under finance leases are secured on the assets to which they relate.

7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
7,159
2,095
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
10
10
10
10
9
Company information

DJ Woodworking Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6 Thorpe Hill Farm, East Ardsley, Wakefield, West Yorkshire, WF3 3BX.

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