BrightAccountsProduction v1.0.0 v1.0.0 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is Joinery & the installation of floors. 6 March 2024 1 3 NI630379 2023-07-31 NI630379 2022-07-31 NI630379 2021-07-31 NI630379 2022-08-01 2023-07-31 NI630379 2021-08-01 2022-07-31 NI630379 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI630379 uk-curr:PoundSterling 2022-08-01 2023-07-31 NI630379 uk-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI630379 uk-bus:AbridgedAccounts 2022-08-01 2023-07-31 NI630379 uk-core:ShareCapital 2023-07-31 NI630379 uk-core:ShareCapital 2022-07-31 NI630379 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI630379 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI630379 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI630379 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 NI630379 uk-bus:FRS102 2022-08-01 2023-07-31 NI630379 uk-core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 NI630379 uk-core:MotorVehicles 2022-08-01 2023-07-31 NI630379 2022-08-01 2023-07-31 NI630379 uk-bus:Director1 2022-08-01 2023-07-31 NI630379 uk-bus:Director3 2022-08-01 2023-07-31 NI630379 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Bann Joinery & Flooring Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 July 2023



Bann Joinery & Flooring Ltd
Company Registration Number: NI630379
ABRIDGED BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 47,194 26,585
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Current Assets
Stocks 132,505 168,540
Debtors 391,596 315,749
Cash and cash equivalents 53,291 86,304
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577,392 570,593
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Creditors: amounts falling due within one year (278,934) (329,462)
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Net Current Assets 298,458 241,131
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Total Assets less Current Liabilities 345,652 267,716
 
Creditors:
amounts falling due after more than one year (42,484) (40,168)
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Net Assets 303,168 227,548
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Capital and Reserves
Called up share capital 2 2
Retained earnings 303,166 227,546
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Equity attributable to owners of the company 303,168 227,548
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 6 March 2024 and signed on its behalf by
           
           
________________________________          
Michael McAlister          
Director          
           
           
________________________________
Hugh Anthony Wilson
Director
           



Bann Joinery & Flooring Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
Bann Joinery & Flooring Ltd is a private company limited by shares incorporated in Northern Ireland. 53 Banbridge Enterprise Centre, Scarva Road, Banbridge, Co. Down, BT32 3QD is the registered office, which is also the principal place of business of the company. The company registration number is NI630379.
The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

These financial statements cover the individual entity for the year ended 31st July 2023.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 July 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 15% Straight line
  Motor vehicles - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stockss are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Adoption of FRS 102 Section 1A
 
This is the first set of financial statements prepared by Bann Joinery & Flooring Ltd in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 August 2021.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was as follows:
 
  2023 2022
  Number Number
 
Employees 1 3
  ═════════ ═════════
         
5. Tangible assets
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 August 2022 8,246 28,995 37,241
Additions 11,593 18,450 30,043
Disposals - (6,620) (6,620)
  ───────── ───────── ─────────
At 31 July 2023 19,839 40,825 60,664
  ───────── ───────── ─────────
Depreciation
At 1 August 2022 1,486 9,170 10,656
Charge for the financial year 2,343 4,757 7,100
On disposals - (4,286) (4,286)
  ───────── ───────── ─────────
At 31 July 2023 3,829 9,641 13,470
  ───────── ───────── ─────────
Net book value
At 31 July 2023 16,010 31,184 47,194
  ═════════ ═════════ ═════════
At 31 July 2022 6,760 19,825 26,585
  ═════════ ═════════ ═════════