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REGISTERED NUMBER: 08627175 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Toulson Carpentry & Joinery Ltd

Toulson Carpentry & Joinery Ltd (Registered number: 08627175)






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


Toulson Carpentry & Joinery Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mrs K L M Toulson





REGISTERED OFFICE: 12 Reedspire
Commercial Way
Sleaford
Lincolnshire
NG34 8GL





REGISTERED NUMBER: 08627175 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Toulson Carpentry & Joinery Ltd (Registered number: 08627175)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 24,320 32,887
Investments 6 25,300 25,300
Investment property 7 582,377 582,377
631,997 640,564

CURRENT ASSETS
Debtors 8 291,131 567,331
Cash at bank 32,130 37,283
323,261 604,614
CREDITORS
Amounts falling due within one year 9 529,687 776,493
NET CURRENT LIABILITIES (206,426 ) (171,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,571

468,685

CREDITORS
Amounts falling due after more than one
year

10

(8,874

)

(19,111

)

PROVISIONS FOR LIABILITIES (6,030 ) (6,205 )
NET ASSETS 410,667 443,369

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Fair value reserve 12 200,000 200,000
Retained earnings 209,667 242,369
SHAREHOLDERS' FUNDS 410,667 443,369

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 her 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.

Toulson Carpentry & Joinery Ltd (Registered number: 08627175)

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 30 July 2024 and were signed by:





Mrs K L M Toulson - Director


Toulson Carpentry & Joinery Ltd (Registered number: 08627175)

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

1. STATUTORY INFORMATION

Toulson Carpentry & Joinery 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. 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 as modified by the revaluation of certain assets.

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

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.
Plant and machinery - 25% on cost and 20% on reducing balance
Motor vehicles - 25% on cost, 25% on reducing balance and 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Toulson Carpentry & Joinery Ltd (Registered number: 08627175)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022
and 31 October 2023 10,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Goodwill relates to the purchase of building contracts from a company which in no longer solvent. The cost of this goodwill is being amortised over its life of 2 years.

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 58,233 36,613 1,805 96,651
DEPRECIATION
At 1 November 2022 32,800 30,092 872 63,764
Charge for year 6,607 1,630 330 8,567
At 31 October 2023 39,407 31,722 1,202 72,331
NET BOOK VALUE
At 31 October 2023 18,826 4,891 603 24,320
At 31 October 2022 25,433 6,521 933 32,887

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 25,300
NET BOOK VALUE
At 31 October 2023 25,300
At 31 October 2022 25,300

Toulson Carpentry & Joinery Ltd (Registered number: 08627175)

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

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 582,377
NET BOOK VALUE
At 31 October 2023 582,377
At 31 October 2022 582,377

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2022 200,000
Cost 382,377
582,377

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,551 414,445
Amounts owed by group undertakings 154,368 25,873
Other debtors 117,212 127,013
291,131 567,331

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,237 9,988
Trade creditors 134,690 489,455
Amounts owed to group undertakings - 50,144
Taxation and social security 254,955 152,866
Other creditors 129,805 74,040
529,687 776,493

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,874 19,111

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 200,000

Toulson Carpentry & Joinery Ltd (Registered number: 08627175)

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

13. RELATED PARTY DISCLOSURES

Included within 'Amounts owed to group undertakings' is an amount owed from KF Developments Ltd of £25,873 (2022: £25,873) a company in which Toulson Carpentry & Joinery own 50% of the share capital, and Mrs K Toulson is a director. This balance represents a loan made to KF Developments Ltd repayable on demand.

A balance of £128,446 [2022: (£50,144)] is owed by Midland County Construction a company in which Mrs K Toulson is also a shareholder.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K L M Toulson.