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REGISTERED NUMBER: 06329773 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

NICK MASKEY JOINERY LIMITED

NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NICK MASKEY JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: N G V Maskey
Mrs J Maskey





SECRETARY: N G V Maskey





REGISTERED OFFICE: 51A Bawtry Road
Bessacarr
Doncaster
South Yorkshire
DN4 7AA





REGISTERED NUMBER: 06329773 (England and Wales)





ACCOUNTANTS: A Wigglesworth and Company Ltd
Chartered Accountants
Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA

NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 167
Tangible assets 5 106,373 58,074
106,373 58,241

CURRENT ASSETS
Stocks 16,640 12,500
Debtors 6 60,908 50,733
Cash at bank and in hand 5 16,424
77,553 79,657
CREDITORS
Amounts falling due within one year 7 172,526 96,748
NET CURRENT LIABILITIES (94,973 ) (17,091 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,400

41,150

CREDITORS
Amounts falling due after more than one
year

8

(19,601

)

(33,772

)

PROVISIONS FOR LIABILITIES (5,224 ) (5,441 )
NET (LIABILITIES)/ASSETS (13,425 ) 1,937

CAPITAL AND RESERVES
Called up share capital 14 14
Retained earnings (13,439 ) 1,923
SHAREHOLDERS' FUNDS (13,425 ) 1,937

NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

BALANCE SHEET - continued
31 JULY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:




N G V Maskey - Director



Mrs J Maskey - Director


NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Nick Maskey 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.

Going concern
Although the company's liabilities exceed its assets by £61,688 the accounts have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer and office equipment - 33% on cost

Improvements to property will not be depreciated until completion and thereafter will be depreciated at 10% per annum on a reducing balance basis.

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.


NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 3 (2022 - 3 ) .

NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 30,000
AMORTISATION
At 1 August 2022 29,833
Amortisation for year 167
At 31 July 2023 30,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 167

5. TANGIBLE FIXED ASSETS
Computer
Improvements and
to Plant and Motor office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 29,305 28,017 73,313 13,280 143,915
Additions 49,468 509 7,156 1,007 58,140
At 31 July 2023 78,773 28,526 80,469 14,287 202,055
DEPRECIATION
At 1 August 2022 - 17,720 57,775 10,346 85,841
Charge for year - 1,582 5,525 2,734 9,841
At 31 July 2023 - 19,302 63,300 13,080 95,682
NET BOOK VALUE
At 31 July 2023 78,773 9,224 17,169 1,207 106,373
At 31 July 2022 29,305 10,297 15,538 2,934 58,074

NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 28,900
Transfer to ownership (28,900 )
At 31 July 2023 -
DEPRECIATION
At 1 August 2022 22,042
Charge for year 1,714
Transfer to ownership (23,756 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 6,858

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 60,908 50,733

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,494 10,000
Hire purchase contracts - 3,854
Trade creditors 17,754 19,822
Amounts owed to group undertakings 114,700 35,200
Taxation and social security 5,728 13,948
Other creditors 17,850 13,924
172,526 96,748

NICK MASKEY JOINERY LIMITED (REGISTERED NUMBER: 06329773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 19,601 29,601
Hire purchase contracts - 4,171
19,601 33,772

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
N G V Maskey and Mrs J Maskey
Balance outstanding at start of year 49,284 38,777
Amounts advanced 74,096 114,699
Amounts repaid (66,821 ) (104,192 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,559 49,284

During the year beneficial loan interest was charged of £1,053 (2022 - £942) at 2% per annum on the overdrawn balance.

10. ULTIMATE CONTROLLING PARTY

The controlling party is N Maskey holding 70% of the issued ordinary share capital.