JF Joinery Limited NI614645 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is joinery Digita Accounts Production Advanced 6.30.9574.0 true true NI614645 2023-04-01 2024-03-31 NI614645 2024-03-31 NI614645 core:FinanceLeases core:CurrentFinancialInstruments 2024-03-31 NI614645 core:CurrentFinancialInstruments 2024-03-31 NI614645 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI614645 core:Non-currentFinancialInstruments 2024-03-31 NI614645 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI614645 core:FurnitureFittingsToolsEquipment 2024-03-31 NI614645 core:MotorVehicles 2024-03-31 NI614645 core:OtherPropertyPlantEquipment 2024-03-31 NI614645 bus:SmallEntities 2023-04-01 2024-03-31 NI614645 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI614645 bus:FilletedAccounts 2023-04-01 2024-03-31 NI614645 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI614645 bus:RegisteredOffice 2023-04-01 2024-03-31 NI614645 bus:Director2 2023-04-01 2024-03-31 NI614645 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI614645 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI614645 core:MotorVehicles 2023-04-01 2024-03-31 NI614645 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 NI614645 core:PlantMachinery 2023-04-01 2024-03-31 NI614645 countries:NorthernIreland 2023-04-01 2024-03-31 NI614645 2023-03-31 NI614645 core:FurnitureFittingsToolsEquipment 2023-03-31 NI614645 core:MotorVehicles 2023-03-31 NI614645 core:OtherPropertyPlantEquipment 2023-03-31 NI614645 2022-04-01 2023-03-31 NI614645 2023-03-31 NI614645 core:FinanceLeases core:CurrentFinancialInstruments 2023-03-31 NI614645 core:CurrentFinancialInstruments 2023-03-31 NI614645 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI614645 core:Non-currentFinancialInstruments 2023-03-31 NI614645 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI614645 core:FurnitureFittingsToolsEquipment 2023-03-31 NI614645 core:MotorVehicles 2023-03-31 NI614645 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: NI614645

JF Joinery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

JF Joinery Limited

(Registration number: NI614645)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,691

30,546

Current assets

 

Debtors

5

31,802

6,756

Cash at bank and in hand

 

32,941

120,087

 

64,743

126,843

Creditors: Amounts falling due within one year

6

(37,825)

(69,686)

Net current assets

 

26,918

57,157

Total assets less current liabilities

 

42,609

87,703

Creditors: Amounts falling due after more than one year

6

(20,604)

(24,231)

Provisions for liabilities

(2,981)

(5,804)

Net assets

 

19,024

57,668

Capital and reserves

 

Called up share capital

100

100

Retained earnings

18,924

57,568

Shareholders' funds

 

19,024

57,668

 

JF Joinery Limited

(Registration number: NI614645)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 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 1 October 2024 and signed on its behalf by:
 

.........................................
Mr Jonathan Ferris
Director

 

JF Joinery Limited

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

1

General information

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

The address of its registered office is: 28 New Road, Dunloy, Co Antrim, BT44 9AS.

These financial statements were authorised for issue by the Board on 1 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 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 current 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.

 

JF Joinery Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

25% straight line

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% straight line

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

JF Joinery Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

 

JF Joinery Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

3,708

41,295

74,811

119,814

Additions

-

4,750

5,258

10,008

Disposals

-

(4,750)

-

(4,750)

At 31 March 2024

3,708

41,295

80,069

125,072

Depreciation

At 1 April 2023

3,708

19,223

66,337

89,268

Charge for the year

-

10,324

9,789

20,113

At 31 March 2024

3,708

29,547

76,126

109,381

Carrying amount

At 31 March 2024

-

11,748

3,943

15,691

At 31 March 2023

-

22,072

8,474

30,546

5

Debtors

Current

2024
£

2023
£

Trade debtors

12,372

5,750

Other debtors

19,430

1,006

 

31,802

6,756

 

JF Joinery Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

7

6,926

6,433

Taxation and social security

 

9,005

14,355

Accruals and deferred income

 

20,636

46,436

Other creditors

 

1,258

2,462

 

37,825

69,686

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

20,604

24,231

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,627

3,537

Finance lease liabilities

3,299

2,896

6,926

6,433

8

Related party transactions

Included in debtors is an amount of £18,510 owed from the directors (2023: £1,355 owed to the directors).