REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2020 |
|
FOR |
|
D.J NEWMAN JOINERY LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2020 |
|
FOR |
|
D.J NEWMAN JOINERY LIMITED |
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
D.J NEWMAN JOINERY LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
The Old Carriage Works |
Moresk Road |
TRURO |
Cornwall |
TR1 1DG |
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
BALANCE SHEET |
31 MARCH 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their 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. |
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
BALANCE SHEET - continued |
31 MARCH 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
|
|
|
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
1. | STATUTORY INFORMATION |
|
D.J Newman Joinery Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligation to customers by supplying goods and services and excludes value added tax. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
|
Short leasehold | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
2. | ACCOUNTING POLICIES - continued |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
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. |
|
Government grants |
Grants received towards capital expenditure is initially credited to deferred revenue and subsequently released to the profit and loss account over the expected useful life of the related asset. Grants received towards revenue expenditure is recognised in the profit and loss account as the related expenditure is incurred. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
|
AMORTISATION |
At 1 April 2019 |
and 31 March 2020 |
|
NET BOOK VALUE |
At 31 March 2020 |
|
At 31 March 2019 |
|
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2019 |
and 31 March 2020 |
|
|
|
|
|
DEPRECIATION |
At 1 April 2019 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31 March 2020 |
|
|
|
|
|
NET BOOK VALUE |
At 31 March 2020 |
|
|
|
|
|
At 31 March 2019 |
|
|
|
|
|
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
|
DEPRECIATION |
At 1 April 2019 |
|
Charge for year |
|
At 31 March 2020 |
|
NET BOOK VALUE |
At 31 March 2020 |
|
At 31 March 2019 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Amounts recoverable on contracts |
|
|
Other debtors |
|
|
VAT |
|
|
Prepayments |
|
|
|
|
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
|
|
Other loans |
|
|
Hire purchase contracts (see note 9) |
|
|
Payments on account |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT | - | 13,012 |
Other creditors |
|
|
Directors' current accounts | - | 661 |
Accrued expenses |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans - 2-5 years |
|
|
Other loans |
|
|
Hire purchase contracts (see note 9) |
|
|
Other creditors |
|
|
|
|
|
9. | LEASING AGREEMENTS |
|
Minimum lease payments under hire purchase fall due as follows: |
|
2020 | 2019 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
10. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2020 | 2019 |
£ | £ |
Hire purchase contracts | 25,847 | 31,821 |
Other loans | 97,563 | - |
|
|
|
Security is given against the assets of the company by a fixed and floating charge. |
D.J NEWMAN JOINERY LIMITED (REGISTERED NUMBER: 01430959) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
|
11. | ULTIMATE CONTROLLING PARTY |
|
Mr Carl Lee was the Ultimate Controlling Party until 29 January 2020. There is no longer an Ultimate Controlling Party. |