EXECUTIVE WOOD PRODUCTS LIMITED

Company Registration Number:
NI049345 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 January 2023

Period of accounts

Start date: 01 February 2022

End date: 30 January 2023

EXECUTIVE WOOD PRODUCTS LIMITED

Contents of the Financial Statements

for the Period Ended 30 January 2023

Balance sheet
Notes

EXECUTIVE WOOD PRODUCTS LIMITED

Balance sheet

As at 30 January 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 79,906 54,793
Total fixed assets: 79,906 54,793
Current assets
Stocks: 94,318 98,286
Debtors:   210,723 203,988
Cash at bank and in hand: 208,459 20,796
Total current assets: 513,500 323,070
Creditors: amounts falling due within one year:   (208,292) (264,778)
Net current assets (liabilities): 305,208 58,292
Total assets less current liabilities: 385,114 113,085
Creditors: amounts falling due after more than one year:   (41,734) (42,788)
Provision for liabilities: (16,153) (7,091)
Total net assets (liabilities): 327,227 63,206
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 327,127 63,106
Shareholders funds: 327,227 63,206

The notes form part of these financial statements

EXECUTIVE WOOD PRODUCTS LIMITED

Balance sheet statements

For the year ending 30 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 November 2023
and signed on behalf of the board by:

Name: KEVIN McCOY
Status: Director

The notes form part of these financial statements

EXECUTIVE WOOD PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:Land and buildings freehold - 4% straight linePlant and machinery - 20% reducing balanceFixtures, fittings and equipment - 20% reducing balanceMotor vehicles - 25% reducing balanceThe carrying value of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Intangible fixed assets and amortisation policy

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets when they were acquired. Purchased goodwill is capitalised in the balance sheet and amortised on a straight line basis over its economic useful life of 10 years which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

EXECUTIVE WOOD PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2023

2. Employees

2023 2022
Average number of employees during the period 10 11

EXECUTIVE WOOD PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2023

3. Tangible Assets

Total
Cost £
At 01 February 2022 440,664
Additions 38,900
At 30 January 2023 479,564
Depreciation
At 01 February 2022 385,871
Charge for year 13,787
At 30 January 2023 399,658
Net book value
At 30 January 2023 79,906
At 31 January 2022 54,793