Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Alexander John Richardson 10/01/2023 31 July 2024 The principal activity of the Company in the year under review was that of bespoke carpentry. 14583678 2023-12-31 14583678 bus:Director1 2023-12-31 14583678 core:CurrentFinancialInstruments 2023-12-31 14583678 core:Non-currentFinancialInstruments 2023-12-31 14583678 core:ShareCapital 2023-12-31 14583678 core:RetainedEarningsAccumulatedLosses 2023-12-31 14583678 core:OtherPropertyPlantEquipment 2022-12-31 14583678 2022-12-31 14583678 core:OtherPropertyPlantEquipment 2023-12-31 14583678 bus:OrdinaryShareClass1 2023-12-31 14583678 2023-01-01 2023-12-31 14583678 bus:FilletedAccounts 2023-01-01 2023-12-31 14583678 bus:SmallEntities 2023-01-01 2023-12-31 14583678 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 14583678 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14583678 bus:Director1 2023-01-01 2023-12-31 14583678 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 14583678 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 14583678 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 14583678 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14583678 (England and Wales)

RICHWOOD CABINETMAKERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

RICHWOOD CABINETMAKERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

RICHWOOD CABINETMAKERS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
RICHWOOD CABINETMAKERS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Alexander John Richardson (Appointed 10 January 2023)
REGISTERED OFFICE 18 Northgate
Sleaford
NG34 7BJ
United Kingdom
BUSINESS ADDRESS 2 Laurel Grove
Silk Willoughby
Sleaford
NG34 8PP
COMPANY NUMBER 14583678 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ
RICHWOOD CABINETMAKERS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
RICHWOOD CABINETMAKERS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023
£
Fixed assets
Tangible assets 3 30,937
30,937
Current assets
Stocks 1,200
Debtors 4 6,508
Cash at bank and in hand 6,963
14,671
Creditors: amounts falling due within one year 5, 8 ( 32,132)
Net current liabilities (17,461)
Total assets less current liabilities 13,476
Creditors: amounts falling due after more than one year 6 ( 3,975)
Provision for liabilities ( 2,752)
Net assets 6,749
Capital and reserves
Called-up share capital 7 1
Profit and loss account 6,748
Total shareholder's funds 6,749

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Richwood Cabinetmakers Limited (registered number: 14583678) were approved and authorised for issue by the Director on 31 July 2024. They were signed on its behalf by:

Alexander John Richardson
Director
RICHWOOD CABINETMAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
RICHWOOD CABINETMAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Richwood Cabinetmakers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 Northgate, Sleaford, NG34 7BJ, United Kingdom. The principal place of business is 2 Laurel Grove, Silk Willoughby, Sleaford, NG34 8PP.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance
3 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023
Number
Monthly average number of persons employed by the Company during the year, including the director 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 0 0
Additions 34,732 34,732
At 31 December 2023 34,732 34,732
Accumulated depreciation
At 01 January 2023 0 0
Charge for the financial year 3,795 3,795
At 31 December 2023 3,795 3,795
Net book value
At 31 December 2023 30,937 30,937

4. Debtors

2023
£
Trade debtors 5,277
Other debtors 1,231
6,508

5. Creditors: amounts falling due within one year

2023
£
Taxation and social security 1,850
Other creditors 30,282
32,132

6. Creditors: amounts falling due after more than one year

2023
£
Bank loans 3,975

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

8. Related party disclosures

As at 31 December 2023 the directors were owed £25,118 from the company. The loan is unsecured, interest free and repayable on demand.