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Registration number: 07113835

Winston Joinery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Winston Joinery Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Winston Joinery Limited

Company Information

Directors

Mr Anthony Simms

Mr James Lovatt

Mrs Sharon Evans

Registered office

Units 1 & 2 Ormonde Street
Stoke on Trent
ST4 3RR

Accountants

APL Accountants Limited
Chartered Accountants

 

Winston Joinery Limited

(Registration number: 07113835)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

299,054

407,554

Cash at bank and in hand

 

1,533

1,533

 

300,587

409,087

Capital and reserves

 

Called up share capital

5

108,500

108,500

Retained earnings

192,087

300,587

Shareholders' funds

 

300,587

409,087

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.

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 24 June 2024 and signed on its behalf by:
 

.........................................
Mr James Lovatt
Director

 

Winston Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Units 1 & 2 Ormonde Street
Stoke on Trent
ST4 3RR
United Kingdom

The principal place of business is:
Units 1 & 2 Ormonde Street
Stoke on Trent
ST4 3RR
United Kingdom

These financial statements were authorised for issue by the Board on 24 June 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.

Going concern

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

Prior period errors

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 benefit will flow to the entity.

 

Winston Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful life of the related asset. Those related to expenditure are credited when the expense is charge to profit and loss account.

Tangible assets

Tangible assets are stated in 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

2% straight line

Plant

10% reducing balance

Fixtures & fittings

15% reducing balance

Vehicles

25% reducing balance

Amortisation

Asset class

Amortisation method and rate

Goodwill

Over 20 years

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Winston Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

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

4

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

298,702

407,202

Other debtors

 

352

352

   

299,054

407,554

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

108,500

108,500

108,500

108,500

         

6

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £1.00 (2022 - £Nil) per each Ordinary shares

 

108,500

 

-

         

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of contingencies not included in the balance sheet is £314,000 (2022 - £540,000).

8

Parent and ultimate parent undertaking

The company's immediate parent is Charlwood Holdings Limited, incorporated in England & Wales.