REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST AUGUST 2021 |
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DO IT YOURSELF SHUTTERS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST AUGUST 2021 |
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FOR |
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DO IT YOURSELF SHUTTERS LIMITED |
DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DO IT YOURSELF SHUTTERS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST AUGUST 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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162-164 High Street |
Rayleigh |
Essex |
SS6 7BS |
DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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BALANCE SHEET |
31ST AUGUST 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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BALANCE SHEET - continued |
31ST AUGUST 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2021 |
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1. | STATUTORY INFORMATION |
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Do It Yourself Shutters Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary companies for the period ended 31st August 2020. |
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Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT trade discounts. |
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Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer (this is usually on the placement of an order given the bespoke nature of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Tangible fixed assets |
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Web development | - |
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DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Equity instruments |
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Research and development expenditure |
Research expenditure is written-off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. |
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Foreign currencies |
Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction. |
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Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. |
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All translation differences are taken to profit or loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st September 2020 |
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Additions |
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At 31st August 2021 |
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DEPRECIATION |
At 1st September 2020 |
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Charge for year |
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At 31st August 2021 |
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NET BOOK VALUE |
At 31st August 2021 |
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At 31st August 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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DO IT YOURSELF SHUTTERS LIMITED (REGISTERED NUMBER: 09268445) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 4,989 | 1,781 |
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Deferred |
tax |
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Balance at 1st September 2020 |
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Charge to Income Statement during year |
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Balance at 31st August 2021 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | PARENT COMPANY |
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The company's immediate parent undertaking is TCMM Shutter Group Limited, a company incorporated in England and Wales which is the smallest group for which consolidated accounts including Do It Yourself Shutters Limited are prepared. The consolidated accounts of TCMM Shutter Group Limited are available from its registered office, Quayside House, Basin Road South, Hove, East Sussex, BN41 1WF. |