Cottage Joinery Limited 04083407 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is Manufacture of other builders' carpentry and joinery Digita Accounts Production Advanced 6.30.9574.0 true true 04083407 2022-12-01 2023-11-30 04083407 2023-11-30 04083407 core:RetainedEarningsAccumulatedLosses 2023-11-30 04083407 core:ShareCapital 2023-11-30 04083407 core:CurrentFinancialInstruments 2023-11-30 04083407 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 04083407 core:FurnitureFittingsToolsEquipment 2023-11-30 04083407 core:OtherPropertyPlantEquipment 2023-11-30 04083407 bus:SmallEntities 2022-12-01 2023-11-30 04083407 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04083407 bus:FilletedAccounts 2022-12-01 2023-11-30 04083407 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04083407 bus:RegisteredOffice 2022-12-01 2023-11-30 04083407 bus:CompanySecretaryDirector2 2022-12-01 2023-11-30 04083407 bus:Director2 2022-12-01 2023-11-30 04083407 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04083407 core:FurnitureFittings 2022-12-01 2023-11-30 04083407 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 04083407 core:OfficeEquipment 2022-12-01 2023-11-30 04083407 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 04083407 core:PlantMachinery 2022-12-01 2023-11-30 04083407 countries:EnglandWales 2022-12-01 2023-11-30 04083407 2022-11-30 04083407 core:FurnitureFittingsToolsEquipment 2022-11-30 04083407 core:OtherPropertyPlantEquipment 2022-11-30 04083407 2021-12-01 2022-11-30 04083407 2022-11-30 04083407 core:RetainedEarningsAccumulatedLosses 2022-11-30 04083407 core:ShareCapital 2022-11-30 04083407 core:CurrentFinancialInstruments 2022-11-30 04083407 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 04083407 core:FurnitureFittingsToolsEquipment 2022-11-30 04083407 core:OtherPropertyPlantEquipment 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 04083407

Cottage Joinery Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Cottage Joinery Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cottage Joinery Limited

Company Information

Directors

Mrs S B Puddick

Mr C D Hunnisett

Company secretary

Mrs S B Puddick

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Cottage Joinery Limited

(Registration number: 04083407)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,000

1,334

Current assets

 

Stocks

5

2,750

11,500

Debtors

6

6,185

13,971

Cash at bank and in hand

 

8,490

10,902

 

17,425

36,373

Creditors: Amounts falling due within one year

7

(33,597)

(39,634)

Net current liabilities

 

(16,172)

(3,261)

Net liabilities

 

(15,172)

(1,927)

Capital and reserves

 

Called up share capital

4

4

Retained earnings

(15,176)

(1,931)

Shareholders' deficit

 

(15,172)

(1,927)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Mrs S B Puddick
Company secretary and director

.........................................
Mr C D Hunnisett
Director

 
     
 

Cottage Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Cottage Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Fixtures and fittings

25% Reducing balance

Office equipment

33.33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Cottage Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Cottage Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

3,850

3,548

7,398

Additions

124

(124)

-

At 30 November 2023

3,974

3,424

7,398

Depreciation

At 1 December 2022

3,850

2,214

6,064

Charge for the year

-

334

334

At 30 November 2023

3,850

2,548

6,398

Carrying amount

At 30 November 2023

124

876

1,000

At 30 November 2022

-

1,334

1,334

5

Stocks

2023
£

2022
£

Other inventories

2,750

11,500

6

Debtors

2023
£

2022
£

Trade debtors

5,483

13,269

Taxation and social security

702

702

6,185

13,971

 

Cottage Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,462

15,305

Taxation and social security

6,639

6,935

Accruals and deferred income

1,000

1,000

Other creditors

154

136

Director loan account

17,342

16,258

33,597

39,634