Dovetail Joinery (Preston) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05252076 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Dovetail Joinery (Preston) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Leadbetter

REGISTERED OFFICE:

316 Blackpool Road

Fulwood

PRESTON

Lancashire

PR2 3AE

REGISTERED NUMBER:

05252076 (England and Wales)

ACCOUNTANTS:

McDade Roberts Accountants Limited

Chartered Accountants

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

FIXED ASSETS

Tangible assets

4

2,057

2,068

CURRENT ASSETS

Stocks

3,000

5,000

Debtors

5

6,265

312

Cash at bank

38,430

45,915

47,695

51,227

CREDITORS

Amounts falling due within one year

6

37,873

30,480

NET CURRENT ASSETS

9,822

20,747

TOTAL ASSETS LESS CURRENT LIABILITIES

11,879

22,815

CREDITORS

Amounts falling due after more than one year

7

(10,506

)

(14,506

)

PROVISIONS FOR LIABILITIES

(391

)

(393

)

NET ASSETS

982

7,916

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

981

7,915

SHAREHOLDERS' FUNDS

982

7,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2023 and were signed by:

Mr A Leadbetter - Director

1.	STATUTORY INFORMATION

Dovetail Joinery (Preston) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Covid-19

On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic.

The accounts have been prepared on a going concern basis as although there are indicators of financial impact in relation to COVID-19 the directors have taken what are considered all necessary measures to protect the business from this to limit any adverse impact.

The Directors anticipate the company continuing to trade for the foreseeable future and are monitoring the situation.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Where applicable turnover includes the value of any unbilled work in progress relating to work completed but not yet invoiced at the year end date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2022

18,242

19,635

2,555

40,432

Additions

-

-

759

759

At 31 December 2022

18,242

19,635

3,314

41,191

DEPRECIATION

At 1 January 2022

16,524

19,285

2,555

38,364

Charge for year

429

88

253

770

At 31 December 2022

16,953

19,373

2,808

39,134

NET BOOK VALUE

At 31 December 2022

1,289

262

506

2,057

At 31 December 2021

1,718

350

-

2,068

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Other debtors

6,265

312

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

1,157

337

Taxation and social security

10,366

7,980

Other creditors

26,350

22,163

37,873

30,480

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Other creditors

10,506

14,506

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Bounce Back Loan

14,506

18,506

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from HSBC Bank PLC in the year.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22

31.12.21

£

£

Mr A Leadbetter

Balance outstanding at start of year

-

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,980

-

The advances have been made without condition and no interest has been charged. The advance has been repaid within nine months of the year end.