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Registration number: 04352874

Featherbow Woodcraft Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Featherbow Woodcraft Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Featherbow Woodcraft Ltd

Company Information

Director

Mr Michael Holland

Registered office

Unit 1
Hillfields Farm Building
Lighthorne
Warwickshire
CV35 0BQ

Accountants

Mr Satraj Suman
21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS

 

Featherbow Woodcraft Ltd

(Registration number: 04352874)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

100,661

76,780

Current assets

 

Stocks

5

6,350

6,350

Debtors

6

2,239

2,739

Cash at bank and in hand

 

5,832

16,890

 

14,421

25,979

Creditors: Amounts falling due within one year

7

(3,113)

(5,892)

Net current assets

 

11,308

20,087

Net assets

 

111,969

96,867

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

111,967

96,865

Shareholders' funds

 

111,969

96,867

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

.........................................
Mr Michael Holland
Director

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1
Hillfields Farm Building
Lighthorne
Warwickshire
CV35 0BQ

These financial statements were authorised for issue by the director on 30 October 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

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 benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

Reducing Balance 25%

Vehicles

Reducing Balance 25%

Fixtures and Fittings

Reducing Balance 25%

Equipment

Reducing Balance 25%

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

46,877

7,500

70,323

35,603

160,303

Additions

-

-

18,127

11,434

29,561

At 31 January 2024

46,877

7,500

88,450

47,037

189,864

Depreciation

At 1 February 2023

-

6,930

47,314

29,279

83,523

Charge for the year

-

143

3,928

1,609

5,680

At 31 January 2024

-

7,073

51,242

30,888

89,203

Carrying amount

At 31 January 2024

46,877

427

37,208

16,149

100,661

At 31 January 2023

46,877

570

23,009

6,324

76,780

Included within the net book value of land and buildings above is £46,877 (2023 - £46,877) in respect of freehold land and buildings.
 

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Stocks

2024
£

2023
£

Other inventories

6,350

6,350

6

Debtors

Current

2024
£

2023
£

Prepayments

2,239

2,739

 

2,239

2,739

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,000

5,579

Other creditors

113

313

3,113

5,892

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

9

Dividends

2024

2023

£

£

 

 

Final dividends paid

2024
£

2023
£

Final dividend of £Nil (2023 - £11,731.62) per each Ordinary Shares

-

23,463

 

 

10

Related party transactions

 

Featherbow Woodcraft Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,134

7,280