2022-10-012023-09-302023-09-30false08705378J FARNHAM JOINERY 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J FARNHAM JOINERY LIMITED

Registered Number
08705378
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

J FARNHAM JOINERY LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

FARNHAM, Jonathan
FARNHAM, Lucy

Registered Address

Unit 7, Tivoli Howfield Lane
Chartham
Canterbury
CT4 7HG

Registered Number

08705378 (England and Wales)
J FARNHAM JOINERY LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets315,46517,495
15,46517,495
Current assets
Stocks413,30011,000
Debtors540,91531,416
Cash at bank and on hand10022,805
54,31565,221
Creditors amounts falling due within one year6(69,505)(80,381)
Net current assets (liabilities)(15,190)(15,160)
Total assets less current liabilities2752,335
Net assets2752,335
Capital and reserves
Called up share capital100100
Profit and loss account1752,235
Shareholders' funds2752,335
The financial statements were approved and authorised for issue by the Board of Directors on 16 April 2024, and are signed on its behalf by:
FARNHAM, Jonathan
Director
Registered Company No. 08705378
J FARNHAM JOINERY LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20232022
Average number of employees during the year77
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 October 2235,36822,9176,07964,364
Additions2,343--2,343
At 30 September 2337,71122,9176,07966,707
Depreciation and impairment
At 01 October 2224,90717,9334,02946,869
Charge for year2,6141,2465134,373
At 30 September 2327,52119,1794,54251,242
Net book value
At 30 September 2310,1903,7381,53715,465
At 30 September 2210,4614,9842,05017,495
4.Stocks

2023

2022

££
Raw materials and consumables13,30011,000
Total13,30011,000
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables33,148-
Other debtors6,82821,820
Prepayments and accrued income9399,596
Total40,91531,416
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables26,40728,720
Bank borrowings and overdrafts7,120-
Taxation and social security13,82619,566
Other creditors14,98715,749
Accrued liabilities and deferred income7,16516,346
Total69,50580,381