Ebony Joiners Limited SC267772 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of joiners. Digita Accounts Production Advanced 6.30.9574.0 true SC267772 2023-06-01 2024-05-31 SC267772 2024-05-31 SC267772 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC267772 core:ShareCapital 2024-05-31 SC267772 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-05-31 SC267772 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-05-31 SC267772 core:CurrentFinancialInstruments 2024-05-31 SC267772 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 SC267772 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 SC267772 core:FurnitureFittings 2024-05-31 SC267772 core:MotorVehicles 2024-05-31 SC267772 core:PlantMachinery 2024-05-31 SC267772 bus:SmallEntities 2023-06-01 2024-05-31 SC267772 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC267772 bus:FilletedAccounts 2023-06-01 2024-05-31 SC267772 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC267772 bus:RegisteredOffice 2023-06-01 2024-05-31 SC267772 bus:CompanySecretaryDirector2 2023-06-01 2024-05-31 SC267772 bus:Director2 2023-06-01 2024-05-31 SC267772 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC267772 bus:Agent1 2023-06-01 2024-05-31 SC267772 core:FurnitureFittings 2023-06-01 2024-05-31 SC267772 core:MotorVehicles 2023-06-01 2024-05-31 SC267772 core:PlantMachinery 2023-06-01 2024-05-31 SC267772 countries:Scotland 2023-06-01 2024-05-31 SC267772 2023-05-31 SC267772 core:FurnitureFittings 2023-05-31 SC267772 core:MotorVehicles 2023-05-31 SC267772 core:PlantMachinery 2023-05-31 SC267772 2022-06-01 2023-05-31 SC267772 2023-05-31 SC267772 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC267772 core:ShareCapital 2023-05-31 SC267772 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-05-31 SC267772 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-05-31 SC267772 core:CurrentFinancialInstruments 2023-05-31 SC267772 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 SC267772 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 SC267772 core:FurnitureFittings 2023-05-31 SC267772 core:MotorVehicles 2023-05-31 SC267772 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure

Registration number: SC267772

Ebony Joiners Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Ebony Joiners Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

Accountants' Report

8

 

Ebony Joiners Limited

Company Information

Directors

Mrs Susan Black

Mr Scott Black

Company secretary

Mrs Susan Black

Registered office

2 Fairhaven Terrace
Reddingmuirhead
Falkirk
FK2 0EG

Accountants

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Ebony Joiners Limited

(Registration number: SC267772)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

89,575

42,196

Current assets

 

Stocks

5

16,902

7,005

Debtors

6

10,380

1,951

Cash at bank and in hand

 

47,920

53,422

 

75,202

62,378

Creditors: Amounts falling due within one year

7

(77,190)

(86,962)

Net current liabilities

 

(1,988)

(24,584)

Total assets less current liabilities

 

87,587

17,612

Creditors: Amounts falling due after more than one year

7

(14,830)

(9,542)

Provisions for liabilities

(19,706)

(7,936)

Net assets

 

53,051

134

Capital and reserves

 

Called up share capital

100

100

Retained earnings

52,951

34

Shareholders' funds

 

53,051

134

For the financial year ending 31 May 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 Scott Black
Director

 

Ebony Joiners Limited

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

1

General information

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

2

Accounting policies

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.

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 current and deferred 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.

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.

 

Ebony Joiners Limited

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

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

Motor vehicles

Reducing balance at 25%

Plant and machinery

Reducing balance at 15%

Fixtures and fittings

Reducing balance at 15%

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 8).

 

Ebony Joiners Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

11,974

16,786

93,225

121,985

Additions

2,297

925

72,531

75,753

Disposals

(649)

-

-

(649)

At 31 May 2024

13,622

17,711

165,756

197,089

Depreciation

At 1 June 2023

5,845

9,892

64,052

79,789

Charge for the year

1,174

1,173

25,426

27,773

Eliminated on disposal

(48)

-

-

(48)

At 31 May 2024

6,971

11,065

89,478

107,514

Carrying amount

At 31 May 2024

6,651

6,646

76,278

89,575

At 31 May 2023

6,129

6,894

29,173

42,196

5

Stocks

2024
£

2023
£

Work in progress

14,402

5,005

Other inventories

2,500

2,000

16,902

7,005

 

Ebony Joiners Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,675

-

Prepayments

4,705

1,951

 

10,380

1,951

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

2,818

2,486

Trade creditors

 

14,350

15,529

Taxation and social security

 

26,986

15,118

Other creditors

 

33,036

53,829

 

77,190

86,962

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

14,830

9,542

 

Ebony Joiners Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

14,830

9,542

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

2,818

2,486

9

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2024
 £

2023
 £

Mr & Mrs Black

22,416

45,939

 

22,416

45,939

The maximum balance outstanding during the year amounted to £45,939.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ebony Joiners Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ebony Joiners Limited for the year ended 31 May 2024 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Ebony Joiners Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ebony Joiners Limited and state those matters that we have agreed to state to the Board of Directors of Ebony Joiners Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ebony Joiners Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ebony Joiners Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ebony Joiners Limited. You consider that Ebony Joiners Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ebony Joiners Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

1 October 2024