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REGISTERED NUMBER: 04104590 (England and Wales)















Woodbase Joiners Limited

Unaudited Financial Statements for the Year Ended 31 May 2023






Woodbase Joiners Limited (Registered number: 04104590)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woodbase Joiners Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr S V W Bartlett





REGISTERED OFFICE: Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL





REGISTERED NUMBER: 04104590 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Woodbase Joiners Limited (Registered number: 04104590)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 76,695 89,069
76,695 89,069

CURRENT ASSETS
Stocks 130,389 152,175
Debtors 6 141,418 78,457
Cash at bank and in hand 165,286 107,468
437,093 338,100
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

288,530

260,310
NET CURRENT ASSETS 148,563 77,790
TOTAL ASSETS LESS CURRENT LIABILITIES 225,258 166,859

CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR

8

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES (16,634 ) (14,569 )
NET ASSETS 188,624 122,290

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 188,524 122,190
SHAREHOLDERS' FUNDS 188,624 122,290

Woodbase Joiners Limited (Registered number: 04104590)

Balance Sheet - continued
31 May 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2023 and were signed by:





Mr S V W Bartlett - Director


Woodbase Joiners Limited (Registered number: 04104590)

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

1. STATUTORY INFORMATION

Woodbase Joiners 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its useful life of ten years.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Woodbase Joiners Limited (Registered number: 04104590)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The director has assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements the director believes that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months and thus conclude that the going concern basis remains appropriate.

Woodbase Joiners Limited (Registered number: 04104590)

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

2. ACCOUNTING POLICIES - continued

Grants
Government grants in respect of capital expenditure are credited to a deferred income account and released to profit over the expected useful lives of the relevant assets in equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 15,000
AMORTISATION
At 1 June 2022
and 31 May 2023 15,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

Woodbase Joiners Limited (Registered number: 04104590)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 506,816 23,620 9,238 68,564 608,238
Additions - - - 12,734 12,734
Disposals - - - (10,009 ) (10,009 )
At 31 May 2023 506,816 23,620 9,238 71,289 610,963
DEPRECIATION
At 1 June 2022 426,694 18,194 9,186 65,095 519,169
Charge for year 12,207 814 13 5,401 18,435
Eliminated on disposal - - - (3,336 ) (3,336 )
At 31 May 2023 438,901 19,008 9,199 67,160 534,268
NET BOOK VALUE
At 31 May 2023 67,915 4,612 39 4,129 76,695
At 31 May 2022 80,122 5,426 52 3,469 89,069

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 June 2022
and 31 May 2023 14,300
DEPRECIATION
At 1 June 2022 5,518
Charge for year 1,317
At 31 May 2023 6,835
NET BOOK VALUE
At 31 May 2023 7,465
At 31 May 2022 8,782

Woodbase Joiners Limited (Registered number: 04104590)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 131,661 56,856
Other debtors 9,757 21,601
141,418 78,457

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 245
Payments on account 99,528 140,822
Trade creditors 94,386 47,225
Taxation and social security 79,142 48,555
Other creditors 5,474 13,463
288,530 260,310

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 20,000 30,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
80 Ordinary A £1 80 80
20 Ordinary B £1 20 20
100 100

10. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had total commitments under operating leases of £148,141 (2022: £148,141).

Woodbase Joiners Limited (Registered number: 04104590)

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

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr S V W Bartlett
Balance outstanding at start of year 2,919 (2,211 )
Amounts advanced 4,945 27,301
Amounts repaid (10,000 ) (22,171 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,136 ) 2,919

This loan is unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

At the year end the company was owed from a shareholder £820 (2022- £11,130). This loan is unsecured, interest free and repayable on demand.