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COMPANY REGISTRATION NUMBER: 10240392
Your Build Building & Carpentry Limited
Unaudited financial statements
30 June 2023
Your Build Building & Carpentry Limited
Statement of financial position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
6,191
5,212
Current assets
Stocks
794,566
720,174
Debtors
6
11,729
11,874
Cash at bank and in hand
68,934
168,850
---------
---------
875,229
900,898
Creditors: Amounts falling due within one year
7
( 466,740)
( 553,244)
---------
---------
Net current assets
408,489
347,654
---------
---------
Total assets less current liabilities
414,680
352,866
Provisions
Taxation including deferred tax
( 1,548)
( 990)
---------
---------
Net assets
413,132
351,876
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
413,032
351,776
---------
---------
Shareholders funds
413,132
351,876
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Your Build Building & Carpentry Limited
Statement of financial position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 4 March 2024 , and are signed on behalf of the board by:
S W Beavis
Director
Company registration number: 10240392
Your Build Building & Carpentry Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Lynn Road, Ely, Cambridgeshire, CB7 4EG. The trading address is 46B Station Road, Soham, Ely Cambridgeshire, CB7 5DY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Office equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress unless there is a commitment to sell.
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2022
802
6,900
458
8,160
Additions
2,270
133
290
2,693
------
----
------
----
-------
At 30 June 2023
3,072
133
6,900
748
10,853
------
----
------
----
-------
Depreciation
At 1 July 2022
148
2,712
88
2,948
Charge for the year
432
31
1,047
204
1,714
------
----
------
----
-------
At 30 June 2023
580
31
3,759
292
4,662
------
----
------
----
-------
Carrying amount
At 30 June 2023
2,492
102
3,141
456
6,191
------
----
------
----
-------
At 30 June 2022
654
4,188
370
5,212
------
----
------
----
-------
6. Debtors
2023
2022
£
£
Other debtors
11,729
11,874
-------
-------
7. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
9,091
35,200
Social security and other taxes
17,781
2,679
Amounts owed to group undertakings
17,515
17,515
Other creditors
422,353
497,850
---------
---------
466,740
553,244
---------
---------