Company registration number 11377593 (England and Wales)
DJ Woodworking Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 May 2024
PAGES FOR FILING WITH REGISTRAR
DJ Woodworking Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
DJ Woodworking Ltd
Statement of financial position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
28,851
39,822
Current assets
Stocks
15,000
13,150
Debtors
38,360
Cash at bank and in hand
11,541
6,093
64,901
19,243
Creditors: amounts falling due within one year
(97,340)
(36,378)
Net current liabilities
(32,439)
(17,135)
Total assets less current liabilities
(3,588)
22,687
Creditors: amounts falling due after more than one year
(9,115)
(15,165)
Provisions for liabilities
4
(5,482)
(7,159)
Net (liabilities)/assets
(18,185)
363
Capital and reserves
Called up share capital
5
10
10
Profit and loss reserves
(18,195)
353
Total equity
(18,185)
363
DJ Woodworking Ltd
Statement of financial position (continued)
as at 31 May 2024
- 2 -
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 6 February 2025
D J Pickles
Director
Company registration number 11377593 (England and Wales)
DJ Woodworking Ltd
Notes to the financial statements
for the year ended 31 May 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised upon the provision of goods and services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
Motor vehicles
25% reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
DJ Woodworking Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2024
1
Accounting policies
(continued)
- 4 -
Leases
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023
33,047
28,490
61,537
Additions
2,313
2,313
Disposals
(5,040)
(5,040)
At 31 May 2024
30,320
28,490
58,810
Depreciation and impairment
At 1 June 2023
12,812
8,903
21,715
Depreciation charged in the year
3,347
4,897
8,244
At 31 May 2024
16,159
13,800
29,959
Carrying amount
At 31 May 2024
14,161
14,690
28,851
At 31 May 2023
20,235
19,587
39,822
4
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
5,482
7,159
DJ Woodworking Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
10
10
10
10
6
Company information
DJ Woodworking Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6 Thorpe Hill Farm, East Ardsley, Wakefield, West Yorkshire, WF3 3BX.