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REGISTERED NUMBER: 02820991 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Firwood Homes Limited

Firwood Homes Limited (Registered number: 02820991)






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


Firwood Homes Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J A S Yeomans



SECRETARY: C Tansey



REGISTERED OFFICE: Unit 5
Great Honeyborough Industrial Estate
Neyland
Milford Haven
Pembrokeshire
SA73 1SE



REGISTERED NUMBER: 02820991 (England and Wales)



BANKERS: Barclays Bank Plc
32 High Street
Haverfordwest
Pembrokeshire
SA61 2DA



SOLICITORS: JCP Solicitors
Oak Corner
Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire

Firwood Homes Limited (Registered number: 02820991)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,830 4,721

CURRENT ASSETS
Stocks 5 65,426 50,303
Debtors 6 232,446 188,694
Cash at bank 206,286 142,304
504,158 381,301
CREDITORS
Amounts falling due within one year 7 197,772 169,467
NET CURRENT ASSETS 306,386 211,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,216

216,555

PROVISIONS FOR LIABILITIES 671 -
NET ASSETS 314,545 216,555

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 294,545 196,555
SHAREHOLDERS' FUNDS 314,545 216,555

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.

Firwood Homes Limited (Registered number: 02820991)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





J A S Yeomans - Director


Firwood Homes Limited (Registered number: 02820991)

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

1. STATUTORY INFORMATION

Firwood Homes Limited is a private company, limited by shares , registered in England and Wales. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over the term of the lease
Plant and machinery - Straight line over 10 years
Fixtures and fittings - Straight line over 7 years
Motor vehicles - Straight line over 5 years and Straight line over 10 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits
The company makes regular contributions to the personal pension scheme of certain employees of the company.

Firwood Homes Limited (Registered number: 02820991)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 91,217 263,938 25,320 58,852 439,327
Additions - 352 1,686 4,542 6,580
Disposals - - (11,728 ) (1,000 ) (12,728 )
At 31 March 2024 91,217 264,290 15,278 62,394 433,179
DEPRECIATION
At 1 April 2023 89,799 262,272 24,825 57,710 434,606
Charge for year 85 351 435 1,596 2,467
Eliminated on disposal - - (11,724 ) (1,000 ) (12,724 )
At 31 March 2024 89,884 262,623 13,536 58,306 424,349
NET BOOK VALUE
At 31 March 2024 1,333 1,667 1,742 4,088 8,830
At 31 March 2023 1,418 1,666 495 1,142 4,721

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 65,426 50,303

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 215,858 173,377
Other debtors 16,588 15,317
232,446 188,694

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 116,779 85,871
Tax 32,675 27,167
Social security and other taxes 28,709 19,834
Other creditors 19,609 36,595
197,772 169,467

Firwood Homes Limited (Registered number: 02820991)

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

8. ULTIMATE CONTROLLING PARTY

The controlling party is Manderwood Investments Ltd.

Firwood Homes Ltd is a wholly owned subsidiary of Manderwood Investments Ltd whose registered office and principal place of business is Unit 4, Great Honeyborough Industrial Estate, Neyland, Milford Haven, Pembrokeshire.