TUCK'S_WOOD_JOINERY_LIMIT - Accounts

TUCK'S WOOD JOINERY LIMITED - Company Information

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Company Registration No. 09644781 (England and Wales)

TUCK'S WOOD JOINERY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2016

TUCK'S WOOD JOINERY LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

TUCK'S WOOD JOINERY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

Notes

Fixed assets

Tangible assets

71,415

Current assets

Stocks

31,638

Debtors

11,748

Cash at bank and in hand

85,882

129,268

Creditors: amounts falling due within one year

(150,777)

Net current liabilities

(21,509)

Total assets less current liabilities

49,906

Creditors: amounts falling due after more than one year

(3,998)

Provisions for liabilities

(12,683)

33,225

Capital and reserves

Called up share capital

100

Profit and loss account

33,125

Shareholders' funds

33,225

TUCK'S WOOD JOINERY LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2016

- 2 -

For the financial period ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 October 2016

Mr K Tuck

Director

Company Registration No. 09644781

TUCK'S WOOD JOINERY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 JULY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised on delivery of those goods and services.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% straight line

Computer equipment

33.33% straight line

Motor vehicles

25% straight line

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.5

Stock and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

TUCK'S WOOD JOINERY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 JULY 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 17 June 2015

Additions

86,550

At 31 July 2016

86,550

Depreciation

At 17 June 2015

Charge for the period

15,135

At 31 July 2016

15,135

Net book value

At 31 July 2016

71,415

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £4,635.

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £3,998.

Share capital

2016

Allotted, called up and fully paid

100 Ordinary of £1 each

100

On the 17 June 2015, 100 ordinary shares of £1 each were allotted and fully paid at par.