REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JAMES YEO CABINET MAKERS LTD |
TRADING AS |
YEO DESIGN |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JAMES YEO CABINET MAKERS LTD |
TRADING AS |
YEO DESIGN |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
|
|
|
|
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
JAMES YEO CABINET MAKERS LTD |
TRADING AS YEO DESIGN |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
T/A Maynard Johns |
37 Mill Street |
Bideford |
DEVON |
EX39 2JJ |
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
BALANCE SHEET |
31 OCTOBER 2021 |
|
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
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. |
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
BALANCE SHEET - continued |
31 OCTOBER 2021 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
1. | STATUTORY INFORMATION |
|
James Yeo Cabinet Makers Ltd is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
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 Income Statement, 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. |
|
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. |
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
Going concern |
These financial statements have been prepared on a going concern basis as the director has agreed to provide ongoing financial support via his director's loan account. |
|
The director has assessed the company's financial position as well as considered the future sales expectation. He has concluded that the company will still be able to trade for at least the next eighteen months. He, therefore, considers it correct to continue to adopt the going concern basis of accounting. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2020 |
|
Additions |
|
Disposals | ( |
) |
At 31 October 2021 |
|
DEPRECIATION |
At 1 November 2020 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 October 2021 |
|
NET BOOK VALUE |
At 31 October 2021 |
|
At 31 October 2020 |
|
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2020 |
and 31 October 2021 |
|
DEPRECIATION |
At 1 November 2020 |
|
Charge for year |
|
At 31 October 2021 |
|
NET BOOK VALUE |
At 31 October 2021 |
|
At 31 October 2020 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Amounts recoverable on contract |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
|
|
Other loans |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT | 17,439 | 15,066 |
Other creditors |
|
|
Directors' current accounts | 289,690 | 279,683 |
Accrued expenses |
|
|
|
|
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
TRADING AS YEO DESIGN |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
|
|
Bank loans - 2-5 years |
|
|
Bank loans more 5 yr by instal |
|
|
Other loans - 1-2 years | 8,614 | 2,032 |
Other loans - 2-5 years |
|
|
Hire purchase contracts |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 20,370 | 5,833 |
|
8. | GOING CONCERN |
|
These financial statements have been prepared on a going concern basis as the director has agreed to provide ongoing financial support via his director's loan account. |
|
The director has assessed the company's financial position as well as considered the future sales expectation. He has concluded that the company will still be able to trade for at least the next eighteen months. He, therefore, considers it correct to continue to adopt the going concern basis of accounting. |