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REGISTERED NUMBER: SC374253 (Scotland)












Financial Statements for the Year Ended 31 March 2023

for

LEWAIG JOINERY LIMITED

LEWAIG JOINERY LIMITED (REGISTERED NUMBER: SC374253)






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


LEWAIG JOINERY LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: JI Anderson





REGISTERED OFFICE: Lewaig House
Hillfoot Terrace
Gourdon
Montrose
Angus
DD10 0LF





REGISTERED NUMBER: SC374253 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

LEWAIG JOINERY LIMITED (REGISTERED NUMBER: SC374253)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,621 6,156

CURRENT ASSETS
Debtors 5 10,017 8,341
Cash at bank 53,597 118,291
63,614 126,632
CREDITORS
Amounts falling due within one year 6 76,430 107,161
NET CURRENT (LIABILITIES)/ASSETS (12,816 ) 19,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,805

25,627

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 20,795 25,617
SHAREHOLDERS' FUNDS 20,805 25,627

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 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.

LEWAIG JOINERY LIMITED (REGISTERED NUMBER: SC374253)

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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2023 and were signed by:





JI Anderson - Director


LEWAIG JOINERY LIMITED (REGISTERED NUMBER: SC374253)

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

1. STATUTORY INFORMATION

Lewaig Joinery Limited is a private company, limited by shares , registered in Scotland. 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 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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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 material 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.

LEWAIG JOINERY LIMITED (REGISTERED NUMBER: SC374253)

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.

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 12,707 881 15,763 29,351
Additions 3,285 - 26,661 29,946
Disposals (5,774 ) - - (5,774 )
At 31 March 2023 10,218 881 42,424 53,523
DEPRECIATION
At 1 April 2022 10,100 839 12,256 23,195
Charge for year 1,007 42 1,432 2,481
Eliminated on disposal (5,774 ) - - (5,774 )
At 31 March 2023 5,333 881 13,688 19,902
NET BOOK VALUE
At 31 March 2023 4,885 - 28,736 33,621
At 31 March 2022 2,607 42 3,507 6,156

LEWAIG JOINERY LIMITED (REGISTERED NUMBER: SC374253)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 15,763
DEPRECIATION
At 1 April 2022 12,256
Charge for year 877
At 31 March 2023 13,133
NET BOOK VALUE
At 31 March 2023 2,630
At 31 March 2022 3,507

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,676 8,328
Other debtors 5,341 13
10,017 8,341

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,388 2,326
Taxation and social security 1,554 19,814
Other creditors 69,488 85,021
76,430 107,161

7. RELATED PARTY DISCLOSURES

The company was under the control of JI Anderson throughout the current and previous year.

During the year the company repaid the director net amounts totalling £19,492. As at 31 March 2023 included within other creditors is a balance outstanding due to the director of £63,365 (2022 - £82,857). No interest was paid on this loan.