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REGISTERED NUMBER: 13523532 (England and Wales)















Somerset Joinery Solutions Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2023






Somerset Joinery Solutions Ltd (Registered number: 13523532)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Somerset Joinery Solutions Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J Hodge
B P Williams



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 13523532 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
98 Victoria Street
London
SW1E 5JL

Somerset Joinery Solutions Ltd (Registered number: 13523532)

Abridged Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 205,221 192,787

CURRENT ASSETS
Stocks 5,400 4,975
Debtors 293,147 213,777
Cash at bank 129,080 201,828
427,627 420,580
CREDITORS
Amounts falling due within one year 453,529 365,607
NET CURRENT (LIABILITIES)/ASSETS (25,902 ) 54,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,319

247,760

CREDITORS
Amounts falling due after more than one year (15,542 ) -

PROVISIONS FOR LIABILITIES (27,853 ) (27,561 )
NET ASSETS 135,924 220,199

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 135,824 220,099
SHAREHOLDERS' FUNDS 135,924 220,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Somerset Joinery Solutions Ltd (Registered number: 13523532)

Abridged Statement of Financial Position - continued
30 September 2023


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 Statement of Financial Position for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:





J Hodge - Director


Somerset Joinery Solutions Ltd (Registered number: 13523532)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Somerset Joinery Solutions 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Straight line over 10 years
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 15% on reducing balance and Straight line over 10 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Somerset Joinery Solutions Ltd (Registered number: 13523532)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 225,002
Additions 50,391
At 30 September 2023 275,393
DEPRECIATION
At 1 October 2022 32,215
Charge for year 37,957
At 30 September 2023 70,172
NET BOOK VALUE
At 30 September 2023 205,221
At 30 September 2022 192,787

Somerset Joinery Solutions Ltd (Registered number: 13523532)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 34,095
At 30 September 2023 34,095
DEPRECIATION
Charge for year 8,524
At 30 September 2023 8,524
NET BOOK VALUE
At 30 September 2023 25,571

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 7,173 -
Between one and five years 15,542 -
22,715 -

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 60,000 47,500
Between one and five years 170,000 230,000
230,000 277,500

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Hire purchase contracts 22,715 -

Hire purchase agreements are secured over the assets to which they relate.

Somerset Joinery Solutions Ltd (Registered number: 13523532)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 September 2023 and the period ended 30 September 2022:

30.9.23 30.9.22
£    £   
J Hodge
Balance outstanding at start of year 67 -
Amounts repaid (67 ) (54,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 67