Company Registration No. 10244845 (England and Wales)
FITZ WOODBURNERS LIMITED
Unaudited accounts
for the year ended 30 June 2023
FITZ WOODBURNERS LIMITED
Unaudited accounts
Contents
FITZ WOODBURNERS LIMITED
Company Information
for the year ended 30 June 2023
Company Number
10244845 (England and Wales)
Registered Office
19 CANFORD LANE
WESTBURY ON TRYM
BRISTOL
BS9 3DQ
Accountants
FARQUHAR PARTNERSHIP LIMITED
151 WHITELADIES ROAD
CLIFTON
BRISTOL
BS8 2RA
FITZ WOODBURNERS LIMITED
Statement of financial position
as at 30 June 2023
Tangible assets
7,598
6,259
Cash at bank and in hand
10,996
1,295
Creditors: amounts falling due within one year
(25,054)
(24,712)
Net current liabilities
(2,214)
(15,353)
Total assets less current liabilities
5,384
(9,094)
Creditors: amounts falling due after more than one year
(34,666)
(42,088)
Net liabilities
(29,282)
(51,182)
Called up share capital
100
100
Profit and loss account
(29,382)
(51,282)
Shareholders' funds
(29,282)
(51,182)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 March 2024 and were signed on its behalf by
L Anstey-Grover
Director
Company Registration No. 10244845
FITZ WOODBURNERS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
FITZ WOODBURNERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10244845. The registered office is 19 CANFORD LANE, WESTBURY ON TRYM, BRISTOL, BS9 3DQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
20% straight line
The accounts are presented in £ sterling.
The company's balance sheet shows a deficit at the year end. The director has confirmed his continued financial support of the company for the next twelve months and consequently the accounts have been prepared on the going concern basis.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
FITZ WOODBURNERS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Government grants in relation to covid assistance are credited to profit and loss and are included in Other operating income.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
8,605
6,800
15,405
At 30 June 2023
12,138
6,800
18,938
At 1 July 2022
7,871
1,275
9,146
Charge for the year
494
1,700
2,194
At 30 June 2023
8,365
2,975
11,340
At 30 June 2023
3,773
3,825
7,598
At 30 June 2022
734
5,525
6,259
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,400
5,400
Taxes and social security
3,558
15,521
Loans from directors
-
1,855
FITZ WOODBURNERS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Creditors include a loan taken out in May 2020 under the Government's Bounce Back Loan Scheme, enhanced by a further draw down in December 2020.
Allotted, called up and fully paid:
50 "A" Ordinary Shares of £1 each
50
50
25 "B" Ordinary Shares of £1 each
25
25
25 "C" Ordinary Shares of £1 each
25
25
9
Operating lease commitments
2023
2022
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,000
20,000
Later than one year and not later than five years
-
65,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
(1,855)
23,832
19,800
2,177
(1,855)
23,832
19,800
2,177
11
Average number of employees
During the year the average number of employees was 1 (2022: 2).