Registered number
SC656584
Wood N Garden Timber Buildings Ltd
Filleted Accounts
31 March 2024
Wood N Garden Timber Buildings Ltd
Registered number: SC656584
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,551 10,031
Current assets
Stocks 30,150 27,209
Debtors 4 26,289 25,439
Cash at bank and in hand 93,512 83,442
149,951 136,090
Creditors: amounts falling due within one year 5 (47,809) (35,623)
Net current assets 102,142 100,467
Total assets less current liabilities 109,693 110,498
Creditors: amounts falling due after more than one year 6 (999) (2,042)
Net assets 108,694 108,456
Capital and reserves
Profit and loss account 108,694 108,456
Shareholders' funds 108,694 108,456
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Devanny
Director
Approved by the board on 25 October 2024
Wood N Garden Timber Buildings Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery by 15% Reducing Balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 404 13,000 13,404
At 31 March 2024 404 13,000 13,404
Depreciation
At 1 April 2023 123 3,250 3,373
Charge for the year 42 2,438 2,480
At 31 March 2024 165 5,688 5,853
Net book value
At 31 March 2024 239 7,312 7,551
At 31 March 2023 281 9,750 10,031
4 Debtors 2024 2023
£ £
Trade debtors 10,539 9,689
Other debtors 15,750 15,750
26,289 25,439
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 39,900 27,728
Taxation and social security costs 6,534 7,895
Other creditors 1,375 -
47,809 35,623
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 999 2,042
7 Other information
Wood N Garden Timber Buildings Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
No. 1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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