Company Registration No. 08956135 (England and Wales)
Woodcraft Solutions Limited
Unaudited accounts
for the year ended 31 May 2024
Woodcraft Solutions Limited
Unaudited accounts
Contents
Woodcraft Solutions Limited
Company Information
for the year ended 31 May 2024
Company Number
08956135 (England and Wales)
Registered Office
3 Ipswich Grove
Norwich
Norfolk
NR2 2LU
Accountants
Mrs A C Howell
13 Ipswich Grove
Norwich
Norfolk
NR2 2LU
Woodcraft Solutions Limited
Statement of financial position
as at 31 May 2024
Tangible assets
36,842
16,787
Cash at bank and in hand
121,698
140,294
Creditors: amounts falling due within one year
(137,983)
(126,744)
Net current assets
114,597
83,775
Total assets less current liabilities
151,439
100,562
Provisions for liabilities
Deferred tax
(9,211)
(3,190)
Called up share capital
350
350
Profit and loss account
141,878
97,022
Shareholders' funds
142,228
97,372
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 January 2025 and were signed on its behalf by
Jonathan Shorten
Director
Company Registration No. 08956135
Woodcraft Solutions Limited
Notes to the Accounts
for the year ended 31 May 2024
Woodcraft Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 08956135. The registered office is 3 Ipswich Grove, Norwich, Norfolk, NR2 2LU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Woodcraft Solutions Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
8,590
54,019
9,632
72,241
Additions
1,063
36,300
125
37,488
Disposals
-
(28,941)
-
(28,941)
At 31 May 2024
9,653
61,378
9,757
80,788
At 1 June 2023
5,289
44,284
5,881
55,454
Charge for the year
1,091
10,221
970
12,282
On disposals
-
(23,790)
-
(23,790)
At 31 May 2024
6,380
30,715
6,851
43,946
At 31 May 2024
3,273
30,663
2,906
36,842
At 31 May 2023
3,301
9,735
3,751
16,787
Amounts falling due within one year
Trade debtors
130,882
70,225
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
47,415
73,807
Taxes and social security
55,592
40,370
Loans from directors
5,321
409
7
Transactions with related parties
The director provided the company with an unsecured interest free loan on balances outstanding at the year end. At the year end this amounted to £5,321 (2023: £409).
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).