1 June 2022 v2024.4.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP095977582022-06-012023-05-31095977582023-05-31095977582022-05-3109597758core:WithinOneYear2023-05-3109597758core:WithinOneYear2022-05-3109597758core:AfterOneYear2022-05-3109597758core:ShareCapital2023-05-3109597758core:ShareCapital2022-05-3109597758core:RetainedEarningsAccumulatedLosses2023-05-3109597758core:RetainedEarningsAccumulatedLosses2022-05-3109597758bus:Director12022-06-012023-05-3109597758bus:RegisteredOffice2022-06-012023-05-3109597758core:NetGoodwill2022-06-012023-05-3109597758core:Goodwill2022-06-012023-05-3109597758core:PlantMachinery2022-06-012023-05-3109597758core:MotorVehicles2022-06-012023-05-3109597758core:OfficeEquipment2022-06-012023-05-31095977582021-06-012022-05-3109597758core:NetGoodwill2023-05-3109597758core:PlantMachinery2022-06-0109597758core:PlantMachinery2023-05-3109597758core:PlantMachinery2022-05-310959775812022-06-012023-05-3109597758countries:EnglandWales2022-06-012023-05-3109597758bus:AuditExemptWithAccountantsReport2022-06-012023-05-3109597758bus:PrivateLimitedCompanyLtd2022-06-012023-05-3109597758bus:SmallEntities2022-06-012023-05-3109597758bus:FullAccounts2022-06-012023-05-31
Company registration number:
09597758
J & S Joinery Manufacturers Ltd
Unaudited Filleted Financial Statements for the year ended
31 May 2023
J & S Joinery Manufacturers Ltd
Report of the Accountant to the directors of J & S Joinery Manufacturers Ltd
Year ended
31 May 2023
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 May 2023
.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
XNM Accountancy Limited
15 Berristow Grange
Sutton-in-Ashfield
Nottinghamshire
NG17 1LU
United Kingdom
Date:
2 February 2024
J & S Joinery Manufacturers Ltd
Statement of Financial Position
31 May 2023
20232022
Note££
Fixed assets    
Tangible assets 6
2,492
 
13,354
 
Current assets    
Stocks
2,386
 
2,160
 
Debtors 7
14,011
 
12,052
 
16,397
 
14,212
 
Creditors: amounts falling due within one year 8
(61,205
)
(56,615
)
Net current liabilities
(44,808
)
(42,403
)
Total assets less current liabilities (42,316 ) (29,049 )
Creditors: amounts falling due after more than one year 9 -  
(4,167
)
Net liabilities
(42,316
)
(33,216
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(42,416
)
(33,316
)
Shareholders deficit
(42,316
)
(33,216
)
For the year ending
31 May 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
2 February 2024
, and are signed on behalf of the board by:
A Hook
Director
Company registration number:
09597758
J & S Joinery Manufacturers Ltd
Notes to the Financial Statements
Year ended
31 May 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
15 Berristow Grange
,
Sutton-In-Ashfield
,
Nottingham
,
Nottinghamshire
,
NG17 1LU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis. This may not be appropriate and is dependant on the directors' continuing support. The directors' have confirmed that they have no intention of withdrawing that support in the next twelve months.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
20% on cost

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Office equipment
33% on cost

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2022:
4.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 June 2022
and
31 May 2023
20,000
 
Amortisation  
At
1 June 2022
and
31 May 2023
20,000
 
Carrying amount  
At
31 May 2023
-  
At 31 May 2022 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 June 2022
40,953
 
Disposals
(25,579
)
At
31 May 2023
15,374
 
Depreciation  
At
1 June 2022
27,599
 
Charge
3,364
 
Disposals
(18,081
)
At
31 May 2023
12,882
 
Carrying amount  
At
31 May 2023
2,492
 
At 31 May 2022
13,354
 

7 Debtors

20232022
££
Trade debtors
12,601
 
10,121
 
Other debtors
1,410
 
1,931
 
14,011
 
12,052
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
9,500
 
9,407
 
Trade creditors
2,210
 
1,607
 
Taxation and social security
36,289
 
26,287
 
Other creditors
13,206
 
19,314
 
61,205
 
56,615
 

9 Creditors: amounts falling due after more than one year

20232022
££
Other creditors -  
4,167