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REGISTERED NUMBER: 11625163 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

New City Joinery Limited

New City Joinery Limited (Registered number: 11625163)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New City Joinery Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: T J O Reynolds





REGISTERED OFFICE: Building 6000 Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA





REGISTERED NUMBER: 11625163 (England and Wales)





ACCOUNTANTS: AM-PM Accounting Solutions Limited
Building 6000
Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA

New City Joinery Limited (Registered number: 11625163)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,282 29,497

CURRENT ASSETS
Stocks 16,500 10,000
Debtors 5 14,217 22,774
Cash at bank 27,826 10,179
58,543 42,953
CREDITORS
Amounts falling due within one year 6 69,265 70,332
NET CURRENT LIABILITIES (10,722 ) (27,379 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,560

2,118

CREDITORS
Amounts falling due after more than one
year

7

(19,794

)

(29,532

)

PROVISIONS FOR LIABILITIES (4,613 ) (5,605 )
NET LIABILITIES (10,847 ) (33,019 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (10,947 ) (33,119 )
SHAREHOLDERS' FUNDS (10,847 ) (33,019 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

New City Joinery Limited (Registered number: 11625163)

Balance Sheet - continued
31 October 2023


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

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

The financial statements were approved by the director and authorised for issue on 12 January 2024 and were signed by:





T J O Reynolds - Director


New City Joinery Limited (Registered number: 11625163)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

New City Joinery Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

New City Joinery Limited (Registered number: 11625163)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 56,622 16,990 73,612
Additions 2,878 - 2,878
At 31 October 2023 59,500 16,990 76,490
DEPRECIATION
At 1 November 2022 34,664 9,451 44,115
Charge for year 6,209 1,884 8,093
At 31 October 2023 40,873 11,335 52,208
NET BOOK VALUE
At 31 October 2023 18,627 5,655 24,282
At 31 October 2022 21,958 7,539 29,497

New City Joinery Limited (Registered number: 11625163)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 November 2022
and 31 October 2023 20,465
DEPRECIATION
At 1 November 2022 13,990
Charge for year 1,619
At 31 October 2023 15,609
NET BOOK VALUE
At 31 October 2023 4,856
At 31 October 2022 6,475

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 8,278 14,498
Amounts owed by group undertakings 5,000 -
Other debtors 939 8,276
14,217 22,774

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2 1
Taxation and social security 3,155 5,396
Other creditors 56,108 54,935
69,265 70,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 19,794 29,532

New City Joinery Limited (Registered number: 11625163)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. RELATED PARTY DISCLOSURES

Included within other creditors is a loan balance totalling £55,358 (2022 £54,235) owed to Mr T Reynolds, a Director. This loan was not overdrawn within the year and was provided interest free and repayable on demand.

At the year end the company was owed £8,278 (2022: £14,258) from Stoney Brook Farm Limited, a company owned by the director. This amount relates to work carried out in the year

Also included within other debtors is a balance of £5000 from Stoney Brook Weddings Limited, a company owned by the director. This is a loan and was provided interest free and payable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T J O Reynolds.