REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
WELSTED JOINERY LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
WELSTED JOINERY LIMITED |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Contents of the Financial Statements |
for the year ended 31 May 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 8 |
WELSTED JOINERY LIMITED |
Company Information |
for the year ended 31 May 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Statement of Financial Position |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
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. |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Statement of Financial Position - continued |
31 May 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Notes to the Financial Statements |
for the year ended 31 May 2024 |
1. | Statutory information |
Welsted Joinery Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Long leasehold buildings | - |
Leasehold improvements | - |
Plant and machinery | - |
Fixtures & equipment | - |
Motor vehicles | - |
Stocks and work in progress |
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
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 |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
4. | Tangible fixed assets |
Long |
leasehold | Leasehold | Plant and |
buildings | improvements | machinery |
£ | £ | £ |
Cost |
At 1 June 2023 |
Additions |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
Fixtures | Motor |
& equipment | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 June 2023 |
Additions |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
4. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 June 2023 |
and 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 94,920 | 115,595 |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
8. | Leasing agreements |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
9. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdraft |
Bank loans |
Bank loan and overdraft are secured by a legal charge over the long leasehold land and buildings. |
10. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 48,490 | 41,998 |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Provided during year |
Balance at 31 May 2024 |
11. | Called up share capital |
Allotted and issued: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 5,000 | 5,000 |
WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
12. | Ultimate parent company |
The immediate and ultimate parent company is Welsted Joinery Holdings Limited, a company registered in England & Wales. |