false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-06-01
Sage Accounts Production Advanced 2018 - FRS
105,000
78,750
5,250
84,000
21,000
26,250
xbrli:pure
xbrli:shares
iso4217:GBP
04422684
2017-06-01
2018-05-31
04422684
2018-05-31
04422684
2017-05-31
04422684
2016-06-01
2017-05-31
04422684
2017-05-31
04422684
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2018-05-31
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2017-06-01
2018-05-31
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2017-06-01
2018-05-31
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2017-06-01
2018-05-31
04422684
bus:CompanySecretary1
2017-06-01
2018-05-31
04422684
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2017-05-31
04422684
core:NetGoodwill
2018-05-31
04422684
core:PlantMachinery
2017-05-31
04422684
core:FurnitureFittings
2017-05-31
04422684
core:MotorVehicles
2017-05-31
04422684
core:PlantMachinery
2018-05-31
04422684
core:FurnitureFittings
2018-05-31
04422684
core:MotorVehicles
2018-05-31
04422684
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2018-05-31
04422684
core:WithinOneYear
2017-05-31
04422684
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2018-05-31
04422684
core:ShareCapital
2017-05-31
04422684
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2018-05-31
04422684
core:RetainedEarningsAccumulatedLosses
2017-05-31
04422684
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2017-06-01
2018-05-31
04422684
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2017-06-01
2018-05-31
04422684
core:FurnitureFittings
2017-06-01
2018-05-31
04422684
core:MotorVehicles
2017-06-01
2018-05-31
04422684
core:NetGoodwill
2017-05-31
04422684
core:FurnitureFittings
2017-05-31
04422684
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2017-05-31
04422684
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2018-05-31
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bus:OrdinaryShareClass1
2017-05-31
COMPANY REGISTRATION NUMBER:
04422684
A W Lewis Carpentry Limited
|
|
Filleted Unaudited Financial Statements
|
|
A W Lewis Carpentry Limited
|
|
Year ended 31 May 2018
Officers and Professional Advisers
|
1
|
|
|
Statement of Financial Position
|
2
|
|
|
Notes to the Financial Statements
|
4
|
|
|
A W Lewis Carpentry Limited
|
|
Officers and Professional Advisers
|
|
Company secretary
|
Mr W D M Lewis
|
|
|
Registered office
|
11 Heol Y Parc
|
|
Alltwen
|
|
Pontardawe
|
|
Swansea
|
|
SA8 3BN
|
|
|
Accountants
|
James & Uzzell Ltd
|
|
Chartered Certified Accountants
|
|
Axis 15, Axis Court
|
|
Mallard Way
|
|
Riverside Business Park
|
|
Swansea
|
|
SA7 0AJ
|
|
|
A W Lewis Carpentry Limited
|
|
Statement of Financial Position
|
|
31 May 2018
FIXED ASSETS
Intangible assets
|
5
|
21,000
|
26,250
|
Tangible assets
|
6
|
9,304
|
15,458
|
|
--------
|
--------
|
|
30,304
|
41,708
|
|
|
|
|
CURRENT ASSETS
Stocks
|
7
|
6,500
|
22,000
|
Debtors
|
8
|
32,351
|
46,567
|
Cash at bank and in hand
|
–
|
1,073
|
|
--------
|
--------
|
|
38,851
|
69,640
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
9
|
76,031
|
107,268
|
|
--------
|
---------
|
NET CURRENT LIABILITIES
|
37,180
|
37,628
|
|
--------
|
--------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
(
6,876)
|
4,080
|
|
|
|
|
PROVISIONS
Taxation including deferred tax
|
40
|
1,115
|
|
------
|
------
|
NET (LIABILITIES)/ASSETS
|
(
6,916)
|
2,965
|
|
------
|
------
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
10
|
2
|
2
|
Profit and loss account
|
(
6,918)
|
2,963
|
|
------
|
------
|
SHAREHOLDERS (DEFICIT)/FUNDS
|
(
6,916)
|
2,965
|
|
------
|
------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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 Act with respect to accounting records and the preparation of financial statements
.
A W Lewis Carpentry Limited
|
|
Statement of Financial Position (continued)
|
|
31 May 2018
These financial statements were approved by the
board of directors
and authorised for issue on
12 September 2018
, and are signed on behalf of the board by:
Mr A W Lewis
Director
Company registration number:
04422684
A W Lewis Carpentry Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 May 2018
1.
GENERAL INFORMATION
A W Lewis Carpentry Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are carpentry services.
2.
STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 31 May 2018. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Compliance with accounting standards The financial statements have been prepared in accordance with applicable accounting standards. 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 financial statements.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Going concern
The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Construction contracts When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. Interest receivable Interest income is recognised using the effective interest method
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & Machinery
|
-
|
|
|
Fixtures & Fittings
|
-
|
|
|
Motor Vehicles
|
-
|
|
|
|
|
|
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Stocks
Stocks represent work in progress which is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred on contracts.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
3
(2017:
3
).
5.
INTANGIBLE ASSETS
|
Goodwill
|
|
£
|
Cost
|
|
At 1 June 2017 and 31 May 2018
|
105,000
|
|
---------
|
Amortisation
|
|
At 1 June 2017
|
78,750
|
Charge for the year
|
5,250
|
|
---------
|
At 31 May 2018
|
84,000
|
|
---------
|
Carrying amount
|
|
At 31 May 2018
|
21,000
|
|
---------
|
At 31 May 2017
|
26,250
|
|
---------
|
|
|
Goodwill arose on the purchase of the business on 23rd April 2002 and is being amortised over 20 years. In the opinion of the director, this represents a prudent estimate of the period over which the company will derive economic benefit from the assets acquired as part of that business.
6.
TANGIBLE ASSETS
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 June 2017 and 31 May 2018
|
2,680
|
3,626
|
22,945
|
29,251
|
|
------
|
------
|
--------
|
--------
|
Depreciation
|
|
|
|
|
At 1 June 2017
|
2,680
|
2,986
|
8,127
|
13,793
|
Charge for the year
|
–
|
418
|
5,736
|
6,154
|
|
------
|
------
|
--------
|
--------
|
At 31 May 2018
|
2,680
|
3,404
|
13,863
|
19,947
|
|
------
|
------
|
--------
|
--------
|
Carrying amount
|
|
|
|
|
At 31 May 2018
|
–
|
222
|
9,082
|
9,304
|
|
------
|
------
|
--------
|
--------
|
At 31 May 2017
|
–
|
640
|
14,818
|
15,458
|
|
------
|
------
|
--------
|
--------
|
|
|
|
|
|
7.
STOCKS
|
2018
|
2017
|
|
£
|
£
|
Work in progress
|
6,500
|
22,000
|
|
------
|
--------
|
|
|
|
8.
DEBTORS
|
2018
|
2017
|
|
£
|
£
|
Trade debtors
|
29,641
|
43,516
|
Other debtors
|
2,710
|
3,051
|
|
--------
|
--------
|
|
32,351
|
46,567
|
|
--------
|
--------
|
|
|
|
9.
CREDITORS:
amounts falling due within one year
|
2018
|
2017
|
|
£
|
£
|
Bank loans and overdrafts
|
47,182
|
–
|
Trade creditors
|
14,600
|
59,629
|
Corporation tax
|
323
|
5,072
|
Social security and other taxes
|
4,310
|
3,809
|
Other creditors
|
9,616
|
38,758
|
|
--------
|
---------
|
|
76,031
|
107,268
|
|
--------
|
---------
|
|
|
|
The bank loan and overdraft is secured by a fixed and floating charge over the assets of the company,
10.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2018
|
2017
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
2
|
2
|
2
|
2
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
11.
OTHER FINANCIAL COMMITMENTS
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £4,457 (2017 - £10,367).
12.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
At the year end the company owed £15,222 (2017:£34,573) to the directors. The director has given a personal guarantee of £60,000 in relation to the company's overdraft facility. No interest has been incurred in relation to this balance.