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REGISTERED NUMBER: 14317580 (England and Wales)




















FAZ JOINERY LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2024






FAZ JOINERY LIMITED (REGISTERED NUMBER: 14317580)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAZ JOINERY LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr W P Fazackerley





REGISTERED OFFICE: 19 Beatty Drive
Westhoughton
Bolton
BL5 3TP





REGISTERED NUMBER: 14317580 (England and Wales)





ACCOUNTANTS: SCCA Limited T/a Stafford & Co
Chartered Accountants
3 The Studios
320 Chorley Old Road
Bolton
Lancashire
BL1 4JU

FAZ JOINERY LIMITED (REGISTERED NUMBER: 14317580)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 9,000
Tangible assets 5 1,810 2,576
9,810 11,576

CURRENT ASSETS
Debtors 6 8,374 5,639
Cash at bank 494 489
8,868 6,128
CREDITORS
Amounts falling due within one year 7 11,573 13,790
NET CURRENT LIABILITIES (2,705 ) (7,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,105

3,914

PROVISIONS FOR LIABILITIES 344 -
NET ASSETS 6,761 3,914

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,661 3,814
6,761 3,914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

FAZ JOINERY LIMITED (REGISTERED NUMBER: 14317580)

Balance Sheet - continued
31 MARCH 2024


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 15 August 2024 and were signed by:





Mr W P Fazackerley - Director


FAZ JOINERY LIMITED (REGISTERED NUMBER: 14317580)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Faz 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 25% straight line

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

FAZ JOINERY LIMITED (REGISTERED NUMBER: 14317580)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023 1,000
Charge for year 1,000
At 31 March 2024 2,000
NET BOOK VALUE
At 31 March 2024 8,000
At 31 March 2023 9,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 3,062
DEPRECIATION
At 1 April 2023 486
Charge for year 766
At 31 March 2024 1,252
NET BOOK VALUE
At 31 March 2024 1,810
At 31 March 2023 2,576

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,374 5,639

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 3,964 3,300
Other creditors 7,609 10,490
11,573 13,790

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W P Fazackerley.