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REGISTERED NUMBER: SC200473 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

BIRCH JOINERY (GLASGOW) LIMITED

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)






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


BIRCH JOINERY (GLASGOW) LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: F Thomson





SECRETARY: F Thomson





REGISTERED OFFICE: Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL





REGISTERED NUMBER: SC200473 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,912 2,956

CURRENT ASSETS
Stocks 5 111,295 168,115
Debtors 6 317,046 273,574
Cash at bank 289,578 271,257
717,919 712,946
CREDITORS
Amounts falling due within one year 7 244,383 330,820
NET CURRENT ASSETS 473,536 382,126
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,448

385,082

CREDITORS
Amounts falling due after more than one
year

8

-

45,030
NET ASSETS 476,448 340,052

CAPITAL AND RESERVES
Called up share capital 11 100 100
Share premium 149 149
Capital redemption reserve 100 100
Retained earnings 476,099 339,703
SHAREHOLDERS' FUNDS 476,448 340,052

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.

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2024 and were signed by:





F Thomson - Director


BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Birch Joinery (Glasgow) Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared on a going concern basis on the understanding that the director will provide funds as necessary to allow the company to pay its debts as they fall due.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS102 1a requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The director is of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

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

Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of a contract between Birch Joinery (Glasgow) Limited and it's customer. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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.

Depreciation is charged to profit and loss over the estimated useful economic lives, as follows:

Plant and machinery25% on reducing balance
Fixtures and fittings15% on reducing balance
Motor vehicles25% on reducing balance
Computer equipment25% on cost


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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately as an expense within profit and loss.

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 Statement of Income and Retained Earnings, 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.

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.

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount that the company would receive for the asset f it were to be sold at the balance sheet date.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 8,277 2,296 21,706 32,279
Additions - - 951 951
At 31 March 2024 8,277 2,296 22,657 33,230
DEPRECIATION
At 1 April 2023 8,277 2,296 18,750 29,323
Charge for year - - 995 995
At 31 March 2024 8,277 2,296 19,745 30,318
NET BOOK VALUE
At 31 March 2024 - - 2,912 2,912
At 31 March 2023 - - 2,956 2,956

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 111,295 168,115

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 63 7,295
Directors' current accounts 225,336 191,773
S455 Tax recoverable 77,136 65,493
VAT 13,461 6,703
Prepayments 1,050 2,310
317,046 273,574

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 9) 63,454 173,977
Tax 106,136 95,348
Social security and other taxes 23,785 56,594
Accrued expenses 51,008 4,901
244,383 330,820

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 9) - 45,030

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Other loans 63,454 173,977

Amounts falling due between two and five years:
Other loans - 2-5 years - 45,030

BIRCH JOINERY (GLASGOW) LIMITED (REGISTERED NUMBER: SC200473)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 6,807 6,807
Between one and five years 14,891 21,699
21,698 28,506

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
F Thomson
Balance outstanding at start of year 191,773 151,698
Amounts advanced 195,247 175,861
Amounts repaid (161,684 ) (135,786 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 225,336 191,773

13. RELATED PARTY DISCLOSURES

F Thomson is a director and shareholder of the company and is therefore a related party. At the year end F Thomson owed a debt to the company of £225,336 (2022: £191,773). Interest is charged at the rate of 2.25% per annum if the director's loan account becomes overdrawn. There is no fixed date for repayment of the loan.

Directors remuneration in the year amounted to £15,528 and dividends of £150,000 were declared.

14. ULTIMATE CONTROLLING PARTY

F Thomson owns 60% of the share capital of the company, he is therefore considered to be the ultimate controlling party.