|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
|
FOR |
|
TONY HERRON JOINERS LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
|
FOR |
|
TONY HERRON JOINERS LIMITED |
TONY HERRON JOINERS LIMITED (REGISTERED NUMBER: SC338738) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
TONY HERRON JOINERS LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
BUSINESS ADDRESS: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
4d Auchingramont Road |
Hamilton |
ML3 6JT |
|
|
|
BANKERS: |
|
PO Box 17235 |
Edinburgh |
EH11 1YH |
TONY HERRON JOINERS LIMITED (REGISTERED NUMBER: SC338738) |
|
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2018 |
|
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
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. |
|
|
|
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 on
|
|
|
|
|
|
|
TONY HERRON JOINERS LIMITED (REGISTERED NUMBER: SC338738) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
1. | STATUTORY INFORMATION |
|
Tony Herron Joiners Limited is a
|
registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Rendering of services |
Turnover from the rendering of services, namely the provision of joinery services, is recognised by reference to |
the stage of completion of the service at the statement of financial position date. |
|
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 |
|
Computer equipment | - |
|
|
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in the income statement. |
|
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate |
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment |
loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the |
income statement. |
TONY HERRON JOINERS LIMITED (REGISTERED NUMBER: SC338738) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Financial instruments |
Basic financial instruments are recognised as follows: |
|
(i) Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method less any impairment. |
|
(ii) Cash and cash equivalents |
Cash and cash equivalents include cash at bank and in hand. |
|
Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in |
liabilities on the statement of financial position. |
|
(iii) Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, |
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost |
using the effective interest method. |
|
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 statement of financial position date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
|
Provision for liabilities |
The company recognises a provision for annual leave accrued by employees as a result of services rendered in |
the current period, and which employees are entitled to carry forward and use within the next 12 months. The |
provision is measured at the salary cost payable for the period of absence. |
|
3. | AVERAGE NUMBER OF EMPLOYEES |
|
The average number of employees during the year was
|
TONY HERRON JOINERS LIMITED (REGISTERED NUMBER: SC338738) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
|
AMORTISATION |
At 1 April 2017 |
|
Amortisation for year |
|
At 31 March 2018 |
|
NET BOOK VALUE |
At 31 March 2018 |
|
At 31 March 2017 |
|
|
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
|
DEPRECIATION |
At 1 April 2017 |
and 31 March 2018 |
|
NET BOOK VALUE |
At 31 March 2018 |
|
At 31 March 2017 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Director's loan | 1,593 | - |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Corporation tax |
|
|
PAYE and NIC |
|
|
Director's loan | - | 2,907 |
Accrued charges |
|
|
|
|
TONY HERRON JOINERS LIMITED (REGISTERED NUMBER: SC338738) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
|
|
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 March 2018 and |
31 March 2017: |
|
31.3.18 | 31.3.17 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced | ( |
) | ( |
) |
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
|
|
The above balances which are due to/(from) the director are unsecured, interest free and have no fixed repayment |
terms. |
|
9. | RELATED PARTY DISCLOSURES |
|
During the year, the company received an interest free loan from the director amounting to £2,907 (2016 : |
£5,407). |