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REGISTERED NUMBER: 08902385 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WEDGEWOOD JOINERY LIMITED

WEDGEWOOD JOINERY LIMITED (REGISTERED NUMBER: 08902385)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEDGEWOOD JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr C Perry





REGISTERED OFFICE: Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St Edmunds
Suffolk
IP31 2QY





REGISTERED NUMBER: 08902385 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

WEDGEWOOD JOINERY LIMITED (REGISTERED NUMBER: 08902385)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,507 22,066

CURRENT ASSETS
Stocks 5 5,513 5,423
Debtors 6 27,552 41,775
Cash at bank 17,073 38,064
50,138 85,262
CREDITORS
Amounts falling due within one year 7 42,531 68,327
NET CURRENT ASSETS 7,607 16,935
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,114

39,001

CREDITORS
Amounts falling due after more than one
year

8

(9,334

)

(16,333

)

PROVISIONS FOR LIABILITIES (4,127 ) (4,548 )
NET ASSETS 22,653 18,120

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,553 18,020
SHAREHOLDERS' FUNDS 22,653 18,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

WEDGEWOOD JOINERY LIMITED (REGISTERED NUMBER: 08902385)

BALANCE SHEET - continued
29 FEBRUARY 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 30 September 2024 and were signed by:





Mr C Perry - Director


WEDGEWOOD JOINERY LIMITED (REGISTERED NUMBER: 08902385)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Wedgewood Joinery 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.
Leasehold improvements - 10% on cost
Equipment - 25% on reducing balance
Motor vehicle - 25% on reducing balance
Office equipment - 25% on reducing balance

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.

WEDGEWOOD JOINERY LIMITED (REGISTERED NUMBER: 08902385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of the capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest of the remaining balance of the liability.

Rentals payable under the operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis if more representative of the time pattern in which economic benefits from the leases asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Motor Office
improvements Equipment vehicle equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 - 37,107 19,995 4,286 61,388
Additions 10,435 2,742 - 1,166 14,343
Disposals - (1,166 ) - (2,083 ) (3,249 )
At 29 February 2024 10,435 38,683 19,995 3,369 72,482
DEPRECIATION
At 1 March 2023 - 22,420 13,669 3,233 39,322
Charge for year 1,044 4,337 1,582 467 7,430
Eliminated on disposal - (1,055 ) - (1,722 ) (2,777 )
At 29 February 2024 1,044 25,702 15,251 1,978 43,975
NET BOOK VALUE
At 29 February 2024 9,391 12,981 4,744 1,391 28,507
At 28 February 2023 - 14,687 6,326 1,053 22,066

5. STOCKS
2024 2023
£    £   
Stocks 5,513 5,423

WEDGEWOOD JOINERY LIMITED (REGISTERED NUMBER: 08902385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,065 39,580
Prepayments 487 2,195
27,552 41,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans & overdrafts 7,000 7,000
Trade creditors 3,978 24,174
Corporation tax 16,314 12,087
Social security & other taxes 5,914 11,220
Other creditors 7,668 11,745
Director's current account 52 686
Accrued expenses 1,605 1,415
42,531 68,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,000 7,000
Bank loans - 2-5 years 2,334 9,333
9,334 16,333

9. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   

Within one year 9,600 9,600
Between one and five years 16,800 12,000

26,400 21,600

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bounce Back Loan 16,333 23,333

The Bounce Back Loan is secured by the UK government.