Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 06444056 Mr Paul Wilson Mrs Julie Wilson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06444056 2022-12-31 06444056 2023-12-31 06444056 2023-01-01 2023-12-31 06444056 frs-core:CurrentFinancialInstruments 2023-12-31 06444056 frs-core:Non-currentFinancialInstruments 2023-12-31 06444056 frs-core:ComputerEquipment 2023-12-31 06444056 frs-core:ComputerEquipment 2023-01-01 2023-12-31 06444056 frs-core:ComputerEquipment 2022-12-31 06444056 frs-core:NetGoodwill 2023-12-31 06444056 frs-core:NetGoodwill 2023-01-01 2023-12-31 06444056 frs-core:NetGoodwill 2022-12-31 06444056 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 06444056 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06444056 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 06444056 frs-core:MotorVehicles 2023-12-31 06444056 frs-core:MotorVehicles 2023-01-01 2023-12-31 06444056 frs-core:MotorVehicles 2022-12-31 06444056 frs-core:PlantMachinery 2023-12-31 06444056 frs-core:PlantMachinery 2023-01-01 2023-12-31 06444056 frs-core:PlantMachinery 2022-12-31 06444056 frs-core:ShareCapital 2023-12-31 06444056 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06444056 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06444056 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06444056 frs-bus:SmallEntities 2023-01-01 2023-12-31 06444056 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06444056 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06444056 frs-bus:Director1 2023-01-01 2023-12-31 06444056 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06444056 frs-countries:EnglandWales 2023-01-01 2023-12-31 06444056 2021-12-31 06444056 2022-12-31 06444056 2022-01-01 2022-12-31 06444056 frs-core:CurrentFinancialInstruments 2022-12-31 06444056 frs-core:Non-currentFinancialInstruments 2022-12-31 06444056 frs-core:ShareCapital 2022-12-31 06444056 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06444056
Willow Joinery & Shopfitting Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
L J Hanbury Limited
143 Tamworth Road
Long Eaton
Nottingham
NG10 1BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06444056
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 49,729 53,590
49,729 53,590
CURRENT ASSETS
Stocks 6 76,500 181,500
Debtors 7 428,011 390,028
Cash at bank and in hand 112,578 76
617,089 571,604
Creditors: Amounts Falling Due Within One Year 8 (433,106 ) (363,560 )
NET CURRENT ASSETS (LIABILITIES) 183,983 208,044
TOTAL ASSETS LESS CURRENT LIABILITIES 233,712 261,634
Creditors: Amounts Falling Due After More Than One Year 9 (36,699 ) (56,698 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,369 ) (5,389 )
NET ASSETS 185,644 199,547
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 185,544 199,447
SHAREHOLDERS' FUNDS 185,644 199,547
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Wilson
Director
11/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Willow Joinery & Shopfitting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06444056 . The registered office is Unit 6 Oak House, Phoenix Road, Moorgreen Industrial Park, Newthorpe, Nottingham, NG16 3QU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Improvements - 10% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 16)
16 16
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 150,000
As at 31 December 2023 150,000
Amortisation
As at 1 January 2023 150,000
As at 31 December 2023 150,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 12,000 308,574 12,850 17,082 350,506
Additions - 14,108 - 1,523 15,631
As at 31 December 2023 12,000 322,682 12,850 18,605 366,137
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 January 2023 6,000 262,369 12,778 15,769 296,916
Provided during the period 1,200 16,496 18 1,778 19,492
As at 31 December 2023 7,200 278,865 12,796 17,547 316,408
Net Book Value
As at 31 December 2023 4,800 43,817 54 1,058 49,729
As at 1 January 2023 6,000 46,205 72 1,313 53,590
6. Stocks
2023 2022
£ £
Stock 6,500 6,500
Work in progress 70,000 175,000
76,500 181,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 413,651 334,600
Other debtors 14,360 55,428
428,011 390,028
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 236,764 242,981
Bank loans and overdrafts 20,000 35,051
Other creditors 5,180 18,400
Taxation and social security 171,162 67,128
433,106 363,560
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 36,699 56,698
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5