Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01false1212truetrue 01313420 2022-07-01 2023-06-30 01313420 2021-07-01 2022-06-30 01313420 2023-06-30 01313420 2022-06-30 01313420 c:Director5 2022-07-01 2023-06-30 01313420 d:PlantMachinery 2022-07-01 2023-06-30 01313420 d:PlantMachinery 2023-06-30 01313420 d:PlantMachinery 2022-06-30 01313420 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01313420 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 01313420 d:MotorVehicles 2022-07-01 2023-06-30 01313420 d:MotorVehicles 2023-06-30 01313420 d:MotorVehicles 2022-06-30 01313420 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01313420 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 01313420 d:FurnitureFittings 2022-07-01 2023-06-30 01313420 d:FurnitureFittings 2023-06-30 01313420 d:FurnitureFittings 2022-06-30 01313420 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01313420 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 01313420 d:OfficeEquipment 2022-07-01 2023-06-30 01313420 d:OfficeEquipment 2023-06-30 01313420 d:OfficeEquipment 2022-06-30 01313420 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01313420 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 01313420 d:ComputerEquipment 2022-07-01 2023-06-30 01313420 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01313420 d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 01313420 d:CurrentFinancialInstruments 2023-06-30 01313420 d:CurrentFinancialInstruments 2022-06-30 01313420 d:Non-currentFinancialInstruments 2023-06-30 01313420 d:Non-currentFinancialInstruments 2022-06-30 01313420 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01313420 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 01313420 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 01313420 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 01313420 d:UKTax 2022-07-01 2023-06-30 01313420 d:UKTax 2021-07-01 2022-06-30 01313420 d:ShareCapital 2023-06-30 01313420 d:ShareCapital 2022-06-30 01313420 d:OtherMiscellaneousReserve 2023-06-30 01313420 d:OtherMiscellaneousReserve 2022-06-30 01313420 d:RetainedEarningsAccumulatedLosses 2023-06-30 01313420 d:RetainedEarningsAccumulatedLosses 2022-06-30 01313420 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 01313420 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 01313420 c:FRS102 2022-07-01 2023-06-30 01313420 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 01313420 c:FullAccounts 2022-07-01 2023-06-30 01313420 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01313420 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 01313420 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-06-30 iso4217:GBP xbrli:pure
Registered number: 01313420









ACRE JOINERY LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
ACRE JOINERY LIMITED
REGISTERED NUMBER: 01313420

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
40,067
32,285

Current assets
  

Stocks
 6 
44,783
47,384

Debtors: amounts falling due within one year
 7 
104,350
127,205

Cash at bank and in hand
  
94,167
82,467

  
243,300
257,056

Creditors: amounts falling due within one year
 8 
(111,028)
(142,965)

Net current assets
  
 
 
132,272
 
 
114,091

Total assets less current liabilities
  
172,339
146,376

Creditors: amounts falling due after more than one year
 9 
(33,260)
(35,142)

Provisions for liabilities
  

Deferred tax
 10 
(8,337)
(6,284)

Net assets
  
130,742
104,950


Capital and reserves
  

Called up share capital 
  
90
90

Other reserves
  
10
10

Profit and loss account
  
130,642
104,850

  
130,742
104,950

Page 1

 
ACRE JOINERY LIMITED
REGISTERED NUMBER: 01313420

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2024.




................................................
D R Maeer
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Acre Joinery Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 01313420. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight line and reducing balance.

Depreciation is provided on the following basis:

Plant and machinery
-
range from 10-25% straight line basis
Motor vehicles
-
25% reducing balance basis
Computer equipment
-
25% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 5

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 6

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 12).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
19,145
16,547

Adjustments in respect of previous periods
(21,936)
(24,950)


Total current tax
(2,791)
(8,403)

Deferred tax


Origination and reversal of timing differences
2,053
1,803


Taxation on loss on ordinary activities
(738)
(6,600)

Factors affecting tax charge for the year

On 24 May 2021 the Finance Bill 2021 was substantively enacted resulting in the main rate of corporation tax increasing to 25% on 1 April 2023 (2022 - 19%).


Page 7

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
138,186
25,850
19,583
6,913
190,532


Additions
15,500
-
-
1,232
16,732


Disposals
-
-
-
(615)
(615)



At 30 June 2023

153,686
25,850
19,583
7,530
206,649



Depreciation


At 1 July 2022
116,180
21,850
14,257
5,960
158,247


Charge for the year on owned assets
1,915
2,000
-
1,816
5,731


Charge for the year on financed assets
2,850
-
-
-
2,850


Disposals
-
-
-
(246)
(246)



At 30 June 2023

120,945
23,850
14,257
7,530
166,582



Net book value



At 30 June 2023
32,741
2,000
5,326
-
40,067



At 30 June 2022
22,006
4,000
5,326
953
32,285

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
22,666
9,062


6.


Stocks

2023
2022
£
£

Raw materials and consumables
44,783
47,384


Page 8

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Debtors

2023
2022
£
£


Trade debtors
47,575
65,811

Amounts owed by group undertakings
35,000
20,000

Prepayments and accrued income
2,127
3,150

Amounts recoverable on long-term contracts
19,648
38,244

104,350
127,205



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Payments received on account
23,069
57,103

Trade creditors
20,069
31,278

Corporation tax
19,154
16,556

Other taxation and social security
30,044
19,104

Obligations under finance lease and hire purchase contracts
3,455
2,926

Other creditors
969
1,333

Accruals and deferred income
4,268
4,665

111,028
142,965



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
24,167
34,167

Net obligations under finance leases and hire purchase contracts
9,093
975

33,260
35,142


The following liabilities were secured:




Details of security provided:

Secured creditors
The total amount of creditors for which security has been given amounted to £46,715, (2022 - £48,068). Finance leases and hire purchase contracts are secured on the assets financed. Bank loans and overdrafts are secured by way of floating charge over the company's assets.

Page 9

 
ACRE JOINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Deferred taxation




2023


£






At beginning of year
6,284


Charged to profit or loss
2,053



At end of year
8,337

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
8,337
6,284


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £5,398, (2022 - £5,911). Contributions totalling £969 (2022 - £1,333) were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

The company's ultimate controlling party is Chelsea Joinery Limited.

Page 10