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Registered number: 04845450
Concept Doors Limited
Financial Statements
For The Year Ended 31 January 2024
Denmark Forrester Limited
Chartered Accountant and Registered Auditor
Office 12 Bentalls Centre
Colchester Road
Maldon
Essex
CM9 4GD
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04845450
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 344,352 389,528
344,352 389,528
CURRENT ASSETS
Stocks 4 491,682 671,882
Debtors 5 786,960 483,537
Cash at bank and in hand 77,192 32,369
1,355,834 1,187,788
Creditors: Amounts Falling Due Within One Year 6 (1,139,832 ) (843,740 )
NET CURRENT ASSETS (LIABILITIES) 216,002 344,048
TOTAL ASSETS LESS CURRENT LIABILITIES 560,354 733,576
Creditors: Amounts Falling Due After More Than One Year 7 (97,933 ) (298,277 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (79,201 ) (72,326 )
NET ASSETS 383,220 362,973
CAPITAL AND RESERVES
Called up share capital 9 80 80
Capital redemption reserve 20 20
Profit and Loss Account 383,120 362,873
SHAREHOLDERS' FUNDS 383,220 362,973
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Page 2
For the year ending 31 January 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Reed
Director
6th August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold Nil
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 25%
1.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the 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.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 28 (2023: 30)
28 30
3. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 742,544 12,250 23,561 25,824 804,179
Additions 8,779 - - 2,850 11,629
As at 31 January 2024 751,323 12,250 23,561 28,674 815,808
Depreciation
As at 1 February 2023 382,055 1,276 14,391 16,929 414,651
Provided during the period 47,519 2,688 1,954 4,644 56,805
As at 31 January 2024 429,574 3,964 16,345 21,573 471,456
Net Book Value
As at 31 January 2024 321,749 8,286 7,216 7,101 344,352
As at 1 February 2023 360,489 10,974 9,170 8,895 389,528
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 8,286 10,974
8,286 10,974
4. Stocks
2024 2023
£ £
Work in progress 491,682 671,882
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 619,732 382,173
Prepayments and accrued income 167,228 44,057
Corporation tax recoverable assets - 57,307
786,960 483,537
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,162 4,065
Trade creditors 734,426 457,225
Bank loans and overdrafts 196,609 169,243
Corporation tax 24,282 1,823
Other taxes and social security 17,260 49,658
VAT 70,473 49,115
Other creditors - 1,013
Accruals and deferred income 12,620 (5,260 )
Directors' loan accounts 80,000 116,858
1,139,832 843,740
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,660 5,923
Bank loans 95,273 292,354
97,933 298,277
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 4,728 5,135
Between one and five years 2,758 6,587
7,486 11,722
Less: Finance charges allocated to future periods 664 1,734
6,822 9,988
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80 80
10. General Information
Concept Doors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04845450 . The registered office is Pegrams Road, Harlow, Essex, CM18 7PT.
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