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REGISTERED NUMBER: 04515952 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Prescott Joinery Ltd

Prescott Joinery Ltd (Registered number: 04515952)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Prescott Joinery Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr I Prescott





SECRETARY: Mrs K Prescott





REGISTERED OFFICE: 211A Dentons Green Lane
St Helens
Merseyside
WA10 6RU





REGISTERED NUMBER: 04515952 (England and Wales)





ACCOUNTANTS: GR Taylor & Co Accountants
54-56 Ormskirk Street
ST HELENS
Merseyside
WA10 2TF

Prescott Joinery Ltd (Registered number: 04515952)

Abridged Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,181 20,432

CURRENT ASSETS
Stocks and WIP 11,838 2,094
Debtors 69,286 48,947
Cash at bank 6,995 15,018
88,119 66,059
CREDITORS
Amounts falling due within one year 73,794 36,630
NET CURRENT ASSETS 14,325 29,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,506

49,861

CREDITORS
Amounts falling due after more than one
year

14,977

20,521
NET ASSETS 40,529 29,340

CAPITAL AND RESERVES
Called up share capital 5 4 4
Retained earnings 40,525 29,336
SHAREHOLDERS' FUNDS 40,529 29,340

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

Prescott Joinery Ltd (Registered number: 04515952)

Abridged Balance Sheet - continued
31 October 2023



The financial statements were approved by the director and authorised for issue on 16 February 2024 and were signed by:





Mr I Prescott - Director


Prescott Joinery Ltd (Registered number: 04515952)

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

1. STATUTORY INFORMATION

Prescott Joinery Ltd 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 each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Prescott Joinery Ltd (Registered number: 04515952)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 83,977
Additions 34,578
At 31 October 2023 118,555
DEPRECIATION
At 1 November 2022 63,545
Charge for year 13,829
At 31 October 2023 77,374
NET BOOK VALUE
At 31 October 2023 41,181
At 31 October 2022 20,432

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
4 Ordinary shares £1 4 4