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REGISTERED NUMBER: 01430959 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

D.J NEWMAN JOINERY LIMITED

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D.J NEWMAN JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A Vieira
D W Hawkey





SECRETARY: C Lee





REGISTERED OFFICE: The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG





REGISTERED NUMBER: 01430959 (England and Wales)





ACCOUNTANTS: Lang Bennetts
The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 118,533 119,682
118,533 119,682

CURRENT ASSETS
Stocks 45,831 50,706
Debtors 6 99,690 226,836
Cash at bank and in hand 96,611 108,807
242,132 386,349
CREDITORS
Amounts falling due within one year 7 125,815 165,003
NET CURRENT ASSETS 116,317 221,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,850

341,028

CREDITORS
Amounts falling due after more than one
year

8

(108,297

)

(155,212

)

PROVISIONS FOR LIABILITIES (18,078 ) (22,577 )
NET ASSETS 108,475 163,239

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 108,375 163,139
SHAREHOLDERS' FUNDS 108,475 163,239

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 directors acknowledge their 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.

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:




D W Hawkey - Director



A Vieira - Director


D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

D.J Newman 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
Revenue is recognised to turnover when the company fulfils its contractual obligation to customers by supplying goods and services and excludes value added tax. The obligation is measured by reference to the stage of completion at the balance sheet date.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Over the lease term
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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 Profit and loss account, 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.

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Grants received towards capital expenditure is initially credited to deferred revenue and subsequently released to the profit and loss account over the expected useful life of the related asset. Grants received towards revenue expenditure is recognised in the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 34,097
AMORTISATION
At 1 April 2022
and 31 March 2023 34,097
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 19,037 238,530 31,711 54,700 343,978
Additions - 9,610 - 16,499 26,109
Disposals - - - (9,715 ) (9,715 )
At 31 March 2023 19,037 248,140 31,711 61,484 360,372
DEPRECIATION
At 1 April 2022 19,037 143,713 26,132 35,414 224,296
Charge for year - 15,664 837 10,210 26,711
Eliminated on disposal - - - (9,168 ) (9,168 )
At 31 March 2023 19,037 159,377 26,969 36,456 241,839
NET BOOK VALUE
At 31 March 2023 - 88,763 4,742 25,028 118,533
At 31 March 2022 - 94,817 5,579 19,286 119,682

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 36,950 22,410 59,360
DEPRECIATION
At 1 April 2022 15,109 5,603 20,712
Charge for year 3,276 5,603 8,879
At 31 March 2023 18,385 11,206 29,591
NET BOOK VALUE
At 31 March 2023 18,565 11,204 29,769
At 31 March 2022 21,841 16,807 38,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,772 125,895
Amounts recoverable on contracts 53,391 73,819
Other debtors - 1,849
Directors' current accounts 1,598 -
Prepayments 26,929 25,273
99,690 226,836

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,822 6,268
Other loans 18,000 6,000
Hire purchase contracts (see note 9) 9,865 9,047
Payments on account 44,571 20,723
Trade creditors 36,731 73,519
Tax - 18,343
Social security and other taxes 4,023 2,957
VAT 2,318 16,282
Other creditors - 8,663
Directors' current accounts - 189
Accrued expenses 3,485 3,012
125,815 165,003

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 7,163 5,520
Bank loans - 2-5 years 21,489 16,560
Bank loans - 5 years + 4,767 18,389
Other loans 64,000 94,000
Hire purchase contracts (see note 9) 10,878 20,743
108,297 155,212

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5 years + 4,767 18,389

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 9,865 9,047
Between one and five years 10,878 20,743
20,743 29,790

D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 20,743 29,790
Other loans - 100,000
20,743 129,790

Security is given against the assets of the company by a fixed and floating charge.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
D W Hawkey
Balance outstanding at start of year - 262
Amounts advanced 1,221 -
Amounts repaid - (262 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,221 -

A Vieira
Balance outstanding at start of year - 249
Amounts advanced 377 -
Amounts repaid - (249 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 377 -

12. RELATED PARTY DISCLOSURES

During the year, the Directors withdrew net funds from the company of £1,787. At 31 March 2023, the Directors owed the company £1,598. (2022: The company owed the Directors £189.)

The loans to the company were free of interest, and repayable on demand.