Registered number
09471496
Wood Hutch Joinery Limited
Unaudited Filleted Accounts
For the Year Ended
31 March 2023
Wood Hutch Joinery Limited
Registered number: 09471496
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 32,901 36,145
Current assets
Stocks 1,800 1,200
Debtors 4 970 6,103
Cash at bank and in hand 76,762 81,741
79,532 89,044
Creditors: amounts falling due within one year 5 (75,494) (76,184)
Net current assets 4,038 12,860
Total assets less current liabilities 36,939 49,005
Creditors: amounts falling due after more than one year 6 (23,084) (27,647)
Provisions for liabilities (6,251) (6,868)
Net assets 7,604 14,490
Capital and reserves
Called up share capital 2 2
Profit and loss account 7,602 14,488
Shareholder's funds 7,604 14,490
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Martin
Director
Approved by the board on 14 August 2023
Wood Hutch Joinery Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 15,576 41,737 57,313
Additions 5,069 - 5,069
Disposals (150) - (150)
At 31 March 2023 20,495 41,737 62,232
Depreciation
At 1 April 2022 6,472 14,696 21,168
Charge for the year 1,402 6,761 8,163
At 31 March 2023 7,874 21,457 29,331
Net book value
At 31 March 2023 12,621 20,280 32,901
At 31 March 2022 9,104 27,041 36,145
4 Debtors 2023 2022
£ £
Trade debtors 302 5,171
Other debtors 668 932
970 6,103
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 4,277 6,420
Trade creditors 8,852 3,853
Corporation tax 7,572 4,293
Other taxes and social security costs 5,987 11,119
Other creditors 48,806 50,499
75,494 76,184
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 23,084 27,647
7 Pension commitments
The Company contributes to a defined contribution pension scheme. The assets of the scheme are administered by an independent pensions provider. Contributions totalling £139 (2022 - £120) were payable at the balance sheet date.
8 Other information
Wood Hutch Joinery Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Burrow Rural Workshop
Woodman Lane
Burrow
Carnforth
LA6 2RL
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