A J Joinery (UK) Limited
A J Joinery (UK) Limited
Registered number: 4267356
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 December 2017
Christine Skeen
33 Shefford Road
Clifton
Beds
SG17 5RG
A J Joinery (UK) Limited
Director's Report and Unaudited Financial Statements
For The Year Ended 31 December 2017
Director's Report and Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Director's Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—12 |
A J Joinery (UK) Limited
Company Information
For The Year Ended 31 December 2017
Company Information
| Director |
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| Secretary |
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| Company Number |
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| Registered Office | Unit 1B Fen End |
| Astwick Road | |
| Stotfold | |
| Herts | |
| SG5 4BA | |
| Accountants |
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| Clifton | |
| Beds | |
| SG17 5RG | |
Page 1
A J Joinery (UK) Limited
Company No. 4267356
Director's Report For The Year Ended 31 December 2017
Director's Report
The director presents his report and the financial statements for the year ended 31 December 2017 .
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal Activity
The company's principal activity continues to be the provision of timber products to the construction industry.
Dividends
The directors recommended a final dividend of £3000 per share.
Directors
The directors who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
A J Joinery (UK) Limited
Accountant's Report
For The Year Ended 31 December 2017
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 December 2017 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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33 Shefford Road
Clifton
Beds
SG17 5RG
Page 3
A J Joinery (UK) Limited
Profit and Loss Account
For The Year Ended 31 December 2017
Profit and Loss Account
| 31 December 2017 | Period to 31 December 2016 | |||
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| Notes | £ | £ | ||
| TURNOVER | 2 |
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| Cost of sales |
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| GROSS PROFIT |
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| Administrative expenses |
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| OPERATING PROFIT | 3 |
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| Interest payable and similar charges | 7 |
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| PROFIT BEFORE TAXATION |
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| Tax on Profit | 8 |
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| PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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The notes on pages 7 to 12 form part of these financial statements.
Page 4
A J Joinery (UK) Limited
Balance Sheet
As at
31 December 2017
Balance Sheet
| 31 December 2017 | Period to 31 December 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 9 |
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| CURRENT ASSETS | |||||
| Debtors | 10 |
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| Creditors: Amounts Falling Due Within One Year | 11 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 38,717 | 55,984 | |||
Page 5
A J Joinery (UK) Limited
Balance Sheet (continued)
As at
31 December 2017
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 7 to 12 form part of these financial statements.
Page 6
A J Joinery (UK) Limited
Notes to the Financial Statements
For The Year Ended 31 December 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.
Turnover by Geographic Analysis
Company turnover derived from markets outside the United Kingdom.
| 31 December 2017 | Period to 31 December 2016 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom | 1,254,868 | 872,365 | |
| 1,254,868 | 872,365 | ||
Page 7
A J Joinery (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
3.
Operating Profit
The operating profit is stated after charging:
| 31 December 2017 | Period to 31 December 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 8,116 | - | |
| Director's remuneration |
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| Depreciation of tangible fixed assets |
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4.
Staff Costs
| 31 December 2017 | Period to 31 December 2016 | ||
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| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other pension costs |
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5.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 31 December 2017 | Period to 31 December 2016 | ||
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| Office and administration |
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| Manufacturing |
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Page 8
A J Joinery (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
6.
Director's remuneration
| 31 December 2017 | Period to 31 December 2016 | ||
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| £ | £ | ||
| Emoluments |
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| Highest paid director: | |||
| Emoluments |
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| Company contributions to money purchase pension schemes |
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7.
Interest Payable
| 31 December 2017 | Period to 31 December 2016 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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Loan interest payable : £413
Page 9
A J Joinery (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
8.
Tax on Profit
| Tax Rate | 31 December 2017 | Period to 31 December 2016 | |||
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| 31 December 2017 | Period to 31 December 2016 | £ | £ | ||
| UK Corporation Tax | 19.0 | - |
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| Total Current Tax Charge |
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| Total tax charge for the period |
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| 31 December 2017 | Period to 31 December 2016 | ||||
| £ | £ | ||||
| Profit before tax | 16,474 | 35,888 | |||
| Breakdown of Tax Charge is: | |||||
| Tax on profit at 19% (UK standard rate) |
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| Total tax charge for the period | 3,741 | 6,878 | |||
9.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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Page 10
A J Joinery (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
10.
Debtors
| 31 December 2017 | Period to 31 December 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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11.
Creditors: Amounts Falling Due Within One Year
| 31 December 2017 | Period to 31 December 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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13.
Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
| As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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| £ | £ | £ | £ | £ | |
| Mr Andrew Porter |
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The above loan is unsecured, interest free and repayable on demand.
Page 11
A J Joinery (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
Balance due to Directors at period end :
| 31 December 2017 | Period to 31 December 2016 | |
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| £ | £ | |
| Mr Andrew Porter | 27,000 | 19,514 |
14.
Dividends
| 31 December 2017 | Period to 31 December 2016 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 30,000 | 30,000 | ||
15.
Ultimate Controlling Party
The company's ultimate controlling party is Andrew Porter by virtue of his ownership of 100% of the issued share capital in the company.
16.
General Information
A J Joinery (UK) Limited Registered number 4267356 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 1B Fen End, Astwick Road, Stotfold, Herts, SG5 4BA.
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