Registered number
13175193
96 DEGREES CARPENTRY LTD
Filleted Accounts
28 February 2023
96 DEGREES CARPENTRY LTD
Registered number: 13175193
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,695 19,405
Current assets
Debtors 4 5,781 4,241
Cash at bank and in hand 783 10,717
6,564 14,958
Creditors: amounts falling due within one year 5 (15,330) (34,652)
Net current liabilities (8,766) (19,694)
Net assets/(liabilities) 7,929 (289)
Capital and reserves
Called up share capital 1 1
Profit and loss account 7,928 (290)
Shareholders' funds 7,929 (289)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
S W Thomas
Director
Approved by the board on 29 November 2023
96 DEGREES CARPENTRY LTD
Notes to the Accounts
for the year ended 28 February 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 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
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.
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 March 2022 11,480 14,394 25,874
Additions 2,856 - 2,856
At 28 February 2023 14,336 14,394 28,730
Depreciation
At 1 March 2022 2,870 3,599 6,469
Charge for the year 2,867 2,699 5,566
At 28 February 2023 5,737 6,298 12,035
Net book value
At 28 February 2023 8,599 8,096 16,695
At 28 February 2022 8,610 10,795 19,405
4 Debtors 2023 2022
£ £
Deposit 150 150
Prepayment 1,120 1,120
Other debtors 4,511 2,971
5,781 4,241
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,246 1,273
Taxation and social security costs - 5,785
Directors Loan Account - 25,510
Other creditors 2,084 2,084
15,330 34,652
6 Other information
96 DEGREES CARPENTRY LTD is a private company limited by shares and incorporated in England. Its registered office is:
42 Redwood Way
Barnet
Herts
EN5 2RT
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