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REGISTERED NUMBER: 03349503 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

REDS JOINERY LIMITED

REDS JOINERY LIMITED (REGISTERED NUMBER: 03349503)

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


REDS JOINERY LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: M Jarvis
G Biggs
Mrs K M Biggs
Mrs J Jarvis





SECRETARY: M Jarvis





REGISTERED OFFICE: Hangar 2
De-Havilland Drive
Estuary Commerce Park
Speke
Merseyside
L24 8RN





REGISTERED NUMBER: 03349503 (England and Wales)





ACCOUNTANTS: Williamson Croft (Liverpool) Limited
Chartered Certified Accountants
Edward House
North Mersey Business Centre
Knowsley Industrial Park
Liverpool
Merseyside
L33 7UY

REDS JOINERY LIMITED (REGISTERED NUMBER: 03349503)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,608 38,544

CURRENT ASSETS
Stocks 277,200 354,700
Debtors 5 537,822 268,202
Cash at bank and in hand 807,261 688,164
1,622,283 1,311,066
CREDITORS
Amounts falling due within one year 6 502,079 418,567
NET CURRENT ASSETS 1,120,204 892,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,163,812

931,043

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES (8,286 ) (7,323 )
NET ASSETS 1,133,026 891,220

CAPITAL AND RESERVES
Called up share capital 40 40
Retained earnings 1,132,986 891,180
SHAREHOLDERS' FUNDS 1,133,026 891,220

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.

REDS JOINERY LIMITED (REGISTERED NUMBER: 03349503)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:




G Biggs - Director



M Jarvis - Director


REDS JOINERY LIMITED (REGISTERED NUMBER: 03349503)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

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

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.
Plant and machinery etc. - 20% on cost

Stocks
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

REDS JOINERY LIMITED (REGISTERED NUMBER: 03349503)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc.
£   
COST
At 1 April 2022 115,330
Additions 22,339
Disposals (4,268 )
At 31 March 2023 133,401
DEPRECIATION
At 1 April 2022 76,786
Charge for year 17,270
Eliminated on disposal (4,263 )
At 31 March 2023 89,793
NET BOOK VALUE
At 31 March 2023 43,608
At 31 March 2022 38,544

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 427,449 200,799
Amounts recoverable on contract - 61,500
Other debtors 110,373 5,903
537,822 268,202

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 286,933 178,325
Taxation and social security 167,370 81,561
Other creditors 37,776 148,681
502,079 418,567

REDS JOINERY LIMITED (REGISTERED NUMBER: 03349503)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 32,500

8. 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
£    £   
Mrs J Jarvis and G Biggs
Balance outstanding at start of year - -
Amounts advanced 106,637 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 106,637 -

9. RELATED PARTY DISCLOSURES

During the year net interest of £Nil (2022 - £8,040) was payable to the directors in relation to the varying balance on their loan accounts with the company. The loan advance above was repaid to the company on 30 April 2023.