Terrence Paul Cabinet Makers Limited
|
Registered Number
:
04822472
|
For the period ended 31 October 2020
England and Wales
Unaudited Financial Statements
For the period ended 31 October 2020
Terrence Paul Cabinet Makers Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Terrence Paul Cabinet Makers Limited
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
-
35,979
2
-
35,979
13,936
-
3
Trade and other receivables
|
14,085
3,143
4
92,083
Cash and cash equivalents
|
23,877
27,020
120,104
Trade and other payables
:
amounts falling due within one
|
year
|
(70,155)
(25,878)
5
49,949
1,142
Net current assets
Total assets less current liabilities
|
1,142
85,928
Trade and other payables
:
amounts falling due after more
|
than one year
|
(19,488)
-
6
-
(6,836)
Provisions for liabilities
|
1,142
Net assets
59,604
100
100
1,042
59,504
1,142
59,604
Shareholders' funds
For the period ended 31 October 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 18 May 2021 and were signed by:
|
1 of 5
For the period ended 31 October 2020
Terrence Paul Cabinet Makers Limited
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the period ended 31 October 2020
Terrence Paul Cabinet Makers Limited
Notes to the Financial Statements
Statutory Information
Terrence Paul Cabinet Makers Limited is a private limited company
,
limited by shares
,
domiciled in England and
|
Wales
,
registration number
04822472
.
|
274 Knightsfield
Welwyn Garden City
Hertfordshire
AL8 7RB
The presentation currency is £ sterling
.
|
The company ceased trading on
31
October
2020
and the directors are going to seek to have the company struck off
|
the register at Companies House
.
|
As the company ceased trading the directors extended the accounting period of the company from
30
June
2020
to
31
|
October
2020
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and machinery
Motor vehicles
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred or conditions fulfilled.
|
Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to sell. Work in progress includes costs on orders as well as an appropriate amount of profit according to the level of completion of said contract
|
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.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
3 of 5
For the period ended 31 October 2020
Terrence Paul Cabinet Makers Limited
Notes to the Financial Statements Continued
Financial Instruments
Financial instruments are recognised in the company
'
s balance sheet when the company becomes party to the
|
contractual provisions of the instrument
.
|
Basic financial liabilities
|
Basic financial assets
,
which include debtors and cash and bank balances
,
are initially measured at transaction
|
price
.
|
Basic financial liabilities
|
Basic financial liabilities 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
.
Financial liabilities classified as payable within one year are not amortised
.
|
Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received
.
Dividends payable on equity
|
instruments are recognised as liabilities once they are no longer at the discretion of the company
.
|
2
.
Property
,
plant and equipment
|
Motor vehicles
71,451
3,919
52,878
14,654
874
168
-
706
(4,087)
(52,878)
(15,360)
(72,325)
-
-
-
-
Provision for depreciation and impairment
|
35,472
3,265
23,934
8,273
(35,472)
(3,265)
(23,934)
(8,273)
-
-
-
-
-
-
-
-
6,381
28,944
654
35,979
2019
2020
-
13,936
Inventories are valued at the lower of cost and estimated selling price less costs to sell. Work in progress includes costs on orders as well as an appropriate amount of profit according to the level of completion of said contract.
|
4 of 5
For the period ended 31 October 2020
Terrence Paul Cabinet Makers Limited
Notes to the Financial Statements Continued
4
.
Trade and other receivables
|
2019
2020
600
520
2,543
13,565
14,085
3,143
5
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
228
17,511
Taxation and social security
|
7,155
8,346
18,495
44,298
25,878
70,155
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2019
2020
-
19,488
7
.
Guarantees and other financial commitments
|
At
31
October
2020
the company had annual commitments under non
-
cancellable operating leases as set out
|
below
:
|
2019
2020
Operating leases which expire
:
|
-
9,750
-
9,750
PERIOD OF ACCOUNT The accounts are for a period of sixteen months ending 31 October 2020.
|
9
.
Average number of persons employed
|
During the year the average number of employees was 3 (2019 : 4)
5 of 5