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COMPANY REGISTRATION NUMBER: 11039289
BT Joinery Ltd
Filleted Unaudited Financial Statements
31 October 2023
BT Joinery Ltd
Financial Statements
Year ended 31 October 2023
Contents
Page
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
BT Joinery Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of BT Joinery Ltd
Year ended 31 October 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
ASPIRE ACCOUNTING AND TAX Chartered Certified Accountants
27B Harmire Enterprise Park Barnard Castle County Durham DL12 8BN
9 February 2024
BT Joinery Ltd
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
19,643
23,770
Current assets
Debtors
6
52,076
26,612
Cash at bank and in hand
36,515
78,383
--------
---------
88,591
104,995
Creditors: amounts falling due within one year
7
33,811
49,206
--------
---------
Net current assets
54,780
55,789
--------
--------
Total assets less current liabilities
74,423
79,559
Creditors: amounts falling due after more than one year
8
25,053
35,199
--------
--------
Net assets
49,370
44,360
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
49,270
44,260
--------
--------
Shareholders funds
49,370
44,360
--------
--------
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 31 October 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 .
BT Joinery Ltd
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 9 February 2024 , and are signed on behalf of the board by:
Mr N Bland
Mr C Tweddle
Director
Director
Company registration number: 11039289
BT Joinery Ltd
Notes to the Financial Statements
Year ended 31 October 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 10 Sturrock Court, Shildon, County Durham, DL4 2BF.
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.
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
-
15% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
25% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
19,045
11,788
3,942
34,775
--------
--------
-------
--------
Depreciation
At 1 November 2022
3,903
5,753
1,349
11,005
Charge for the year
2,271
1,207
649
4,127
--------
--------
-------
--------
At 31 October 2023
6,174
6,960
1,998
15,132
--------
--------
-------
--------
Carrying amount
At 31 October 2023
12,871
4,828
1,944
19,643
--------
--------
-------
--------
At 31 October 2022
15,142
6,035
2,593
23,770
--------
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
2,450
Other debtors
52,076
24,162
--------
--------
52,076
26,612
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
470
8,598
Corporation tax
19,956
21,476
Social security and other taxes
8,136
10,093
Other creditors
5,249
9,039
--------
--------
33,811
49,206
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
25,053
35,199
--------
--------